16 APRIL 1932, Page 38


I notice that the question of the age limit as affecting direc- torships of our more important Institutions is being applied quite rigorously. It is generally understood in the City that, so far as the Bank of England is concerned, Directors on attaining the age of seventy hand in their resignations automatically and much, no doubt, to the regret of his fellow colleagues, Sir Charles Addis, who shortly attains his seventieth birthday, has now retired from the Court of the Bank of England, and also from his position as a Director of the Bank for International Settginents. By reason of Sir Charles' resignation from the Bank of England, and by the death which occurred last year of Mr. Robert Wallace, there were two vacancies to be filled at the recent election of the Bank Court for the ensuing year, and these vacancies have now been filled by the election of Mr. Patrick Ashley Cooper, the Governor of the Hudson's Bay Company, and Mr. William Henry Clegg, who for ten years was the first Governor of the South African Reserve Hank, and who previous to that filled the position of Chief Accountant of the Bank of England. No definite announce- ment has yet been made as to the successor to Sir Charles Addis on the Board of the Bank for International Settlements, but the name of Sir Otto Niemeyer has been freely rumoured.

A. W. K.