Page:The Cyclopedia of India (Specimen Issue).pdf/79

 1‘heﬁnnotApcar&Co.haswide interests and many ramifications. Messrs. Apcar & Co. are actively inter- ested in coal mines near Asansole and very largely in jute and the carrying trade of this port.

Mr. Apcar is very well known to the general public 0! Calcutta in his position 0!. annually. the leading sportsman. e is a Stewart] of the Calcutta Turf Club and has always tnlten the lteenest interest in racing On the Turf he hat been remnrltably successful. having four times won the Vieeroy’s CuE: in “84. t89t. I903 and in r904. T cre are also many other leading erenta standing to his credit Throughout his career his name has stood for all that is heat in sport. and he is conspicuous among the sports men who have done much for racing in India. He is also keenly interested

Ma. A. A. Arena.

in cricket and for a long time has been a member at the Calcutta Cricket Club. Mr. Apcar is the Consul for Shun.

Mr. Apcar was appointed Sheriﬂ' o! Calcutta in December r905. and received the decoration of (1.51. in January tooo.

Mr. ARATOON GREGORY APCAR. of the ﬁrm or Messrs. Apcar at Co.. was born in Calcutta on Nov. 4th, :827. He is a son oi Gregory Apes: of the original ﬁrm at A. and G. Apcar. which was established in Bombay in the early part of the Nineteenth Century, by the two brothers Aratoon and Gregory Apear.

THE CYCLOPEDIA OF INDIA.

In the the brothers transferred the tirut to Calcutta and since then It has developed considerably. l‘here are now two partners in the business. Messrs. Antoon Gregory Apcar and the Hon. Apcar Alexander Apcar. (3.8 l. The ﬁrm. besides its shipping husinm. is largely interested in Jute and Coal. Thet are the agents lor the Seeh tore Jute Manufacturing Company, at ich employs about 5.900 bands. and are the proprietors of the [our China Steamers; “ Lightning." " Catherine A pc a r. " " Aratoon Apt-u," and '° Gregory Apcar.” Messrs. Apcar 8: Co. are also proprietors ol’ the Albion Foundry. Scebpore. and o! Ancar & Co’s Col- lieries at Cnaranpore and Sitararnpur. The control of this eatensite business naturally demands the closest attention and ability. As already mentioned the original partners were Aratoon and Gregory Apex. On the adminiort of the four sons of the senior Aratoon Apcar into partnership. the name of the ﬁrm was changed to “ Messrs. Aycar a: Ca." Mr. A. G. Apcar was admitted a partner in r853. and is now the senior partner of the ﬁrm. He has two sons. J. t}. Apcar. Banister. and Gregory Apcar in the ﬁrm. and two daughters.

BANK OF BENGAL—This Bank. which occupies in Bengal a "on analogous to that of the ant 0! England at Home. was founded as far back as rat May. r806. It was then called the “llank ol Calcutta." but no Charter was granted until the and January. race. when its name was altered to the prewnt designation. This Charter was renewed on 39th May. 1833. and in t839 a new Clutter was granted. The nest Charter was under Act IV 0! t86a. which was amended by Acts VI of r862 and XIX ol the. The Act 0! the Legio lature under which the Bank is now constituted la the Presidency Banks Act (Kl oi 1816). and this Act enabled the Government to sell its shares and surrender its power to

three of the Directors of the Bank; it also limits the liability of the shareholders. provides that there shall not beleasthansianormore than nine Directors. and deﬁnes the business that the Banknaayatrryon. TbeCapitaloftheBankwhenﬁrst started in 1806 was (sieaa) rupees ﬁfty lathe, 00' which Government held stock to the nominal value often lakhs (sh-a) rupees. In I836 the amount

at the shares was reduced from Rs. rqooo to Rs 5.ooo each. Several changes in the amount at the Capital were made from time to time. until in t876. the Capital was reduced by the withdrawal of the Government as shareholders. in Rs. a.oo,oo.eoo, and the shares to its. see each, at which ﬁgure: they now remain. When the Bank was ﬁrst established it enjoyeii the privilege ot’ circulatinf Its own notes. prortded that its rota liabilities to the public nerer exceeded the amount of its capital of ﬁfty laltht ol‘ rupees. but in t8: this limit was removed and the Barn allowed to issue notes up to two acres in all. and though on one occasion the amount was exceeded the average note circulation was about one crore and sixty lalths of rupees. Under Act XIX of t86t Government withdrew the right of issue from the Bank and created the Paper Currency controlled by the State. On the tst March. slide. the Gan-m- ment Treasury was transferred to the Bank and its Branches. and in t866 the Public Debt Ofﬁce followed. and the management of these two import- ant public departments has remained with the Bank since. At ﬁrst the neeessit l‘or building up a Reserve Fund oes not seem to have been realiacd by the Directors. and it was not until Mr. Hardie became Secretary and Treasurer in the that he made it his business to build up this Fund. as between then and tSBB it rose [rum is Ialths to 5454 him of rupees and now stands at Rs. 132.00.000. In 18th the Bank had no branches in the molnasil. but on the issue of the new Charter. and the advent of the Government Treasury business. branches were a ned. and at the present time the salt has seventeen branches: situated at Agra. Altyab. Allahabad. Benares. Burrs Basar (Calcutta). Cawnpore. Danes. Delhi. Hyderabad (Deccan). Jalpaiguri. Lahore. Imhtow. )loulmein. Nag- pore. Patna. Rangoon and Serajgunge. ln r867 the Banlt opened an Agency in Bombay. and it this vras reamed by certain Shareholders of the New Bank of Bombay. and a memorial prorated to Government in r868 praying that the Agency might be withdrawn. the prayer was not granted. and the Bank of Bengal still retains its Agency in the Western Capital. 0n only one occasion. namely. for the half year ended the 30th June. 1834. has no Dividend been declared.