Page:The Cyclopedia of India (Specimen Issue).pdf/94

 Cable thus lound ll tleld well prepared for his energies, and his keen intelli— gence combined with is cool and undeviuting prudence instilled new lighting force into an organisation rrlteutly (airbus. The recent ads-astut- ings of Messrs. Bird ck Co. with regaer to the jute and (Trail Industry, are sufﬁciently well known and would be out of place in an article dealing strictly with a Imuslity. 'l’heir interest in this connection is chieﬂy due to the fact thrtt they are the outcome of Mr. Cable‘s mergies. and point to the {act that Calcutta may well watch with in. terest the future of a man. who has already accomplished so much before his ﬁftieth year.

Sir Ernest Cable’s public runner has also been of esceptionnl interest. He hits served on Committees of the Chamber of Commerce. and on various

Government Commission». He was appointed rs Member of Council of the Government of India from May mg to May I905 Onthe 20th December 1904, Mr. t able had the hmwur to be appointed Sheri“ of Calcutta.

Sir Ernest Cable is a learle» public speaker. rind his utterancvs. especially of latte. have commanded widespread interest. the more especially as they always have rt direct bearing on the commercial prosperity of India. in which cause he is something more thrtn an enthusiast. He is one at the few whose speeches bear translating Into type.

He has business relations with Egypt and many other parts of the world.

1H}: tft'Ctut'l-Irru ttt‘ INDIA.

He had the honon Knighthood molerred u him by H. R. ll. the Prince of \ 'ales on the occasion of his visit to Calcutta in January 1906.

BANK OF CAI.Cl."l"l'.\, Lo. Established in Calcutta on the rat January r395 with a subscribed Capital 0! Rs r5.00.000. of which Rs. 500,000 consists ol’ 5.000 It. preference shares 0! Rs too each. fully paid up. and r0,000 ordinary shares of Rs. too clth, but with only Rs. 50 per share alled up. making a total 0! Rs. r0,00,000 paidup capital, this Bank commenced its business but a decade since. The success of the venture was assured from the outset. as a strong and inﬂuential Board of Directors had been formed, and the Management entrusted to the hands at one of Calcutta's most capable Bankers, and a mparison between the ﬁrst half arly report by the Directors, dat 4th july r895, and the latest dated 19th january r905, fully bears out the sanguine anticipa- tions of the promoters and founders. The Bank of Calcutta was lounded more especially to meet the want of a strong and purely local Institu- tion, and this has been met by this Bank, the built of its business being in the ﬁnancing of local industries and trades. Even in the choice of its habitation, this was held steadily in view. premises being secured in Clire Row, one of the chief business centres, adjacent to the la Natisc Bazars, in whicha great Ipgucrt oi the business of Calcutta is done ; and that this choice of a site was a judicious one.is more than borne out b the fact that other Banks are ﬁnding it advantageous to bring their institu trons into closer touch with the but, by opening out Branches lhcrc~ in. an idea which a few years ago would have met with derision at the hands of old time Managers. The building up of a substantial Reserve Fund has been a snarled leature in the Bank's

egress {tom the commencement. and tn the ﬁrst half year more than half at the net proﬁt earned was placed to this Account. Each succeeding half year. the handsome proﬁts earned have allowed 0! the same policy being pur. sued, with the result that by the 3m December r904 the Reserve Fund stood at over Rs. 17,50,000 or om 752 above the calledmp capital. and taking into account the uncalled capi- tal 0! Rs. 5,00,000. also forming a

reserve fund 0! itself. the potential Reserve Fund equals the remarkably high percentage 0! 335?; on the called up capital. or. in other words, the Bank has an available reserve 0! over two and a quarter times the amount at its paid-up capital. That this sound and strong ﬁnancial position has been attained in the short space or ten years, ttsell a record in Banking circles. and one which has hitherto never been achieved by any Bank in the East, testiﬁes strongly to the careful and shrewd manner inwhich the Bank's operations are conducted ; and the Bank has reaped largely from the advantage it has enjoyed 0! having Mr. [land Yule’s (its Chairman) intimate knowledge of Calcutta indus— tries antl local trade requirements. at its disposal since its foundation. The shareholders have tcccit‘cd a steady dividend of 5:; per annum on the orde shares and the holders of the preference shares the guaranteed return of 6?]; per annun: since the commencement of the Bank's opera- tions, and the present market quota tions of Rs. r07 for Bank of Calcutta 67° l‘refs. and of Rs I07 for the Ordinary shares shows the estimation in which the public hold these shares as rt medium for safe investments. The Bank is now being absorbed by the Mercantile Bank of India. The Bank of Calcutta from the nature of its close ﬁnancial connection with local industries and trade requirements, and by assisting in their furtherance and extension. distinctly occupies a timique position in Banking circles in nrlia.

Mr. DANIEL WILLIS PETER KING. Managing Director 0! the Bank of Calcutta. was born at Dover in t853. and after being educated {or the R0 al Navy jorned the Railway Clearing ousr. London. in 1868. In r870 he was selected by the London and Sorth-‘l'estcrn and Great~Wcstern Railways in connection with the audit- ing of their joint accounts. He joined the Delhi and London Bank in London in r875. and in january t878 he came out to India in the Bank's service On various occasions be ﬁlled the ofﬁce of Acting Manager, Calcutta, and in t890 he was appointed Manager In I894. Mr. King left the Delhi and London Bank. and joined the ﬁrm ol Messrs. Andrew Yule 6: Co. and in the {allowing year, in connection with Mr. David Yule. started the Bank 0!