EMPIRE TRADE.
Later in his speech and again at the meeting held later in the day of Barclays (Dominion, Colonial and Overseas) Mr. Goodenough was able to stress the fact that the activities of Barclays Bank were by no means confined to the financing of local industry, as the bank, through its most important Colonial connexions, plays a supremely important part in everything pertaining to the financing of trade in the Empire. In view of all that has happened and the public concern which has been aroused by the circumstances surrounding the operations of what is known as the Hatry group of companies, I note that Mr. Goodenough at once took the shareholders of his bank into his confidence with regard to the possible losses sustained by Barclays Bank. It is, of course, common knowledge that the banks were prominent among those who suffered losses through the operations already referred- to, and in many, indeed, in most cases, the losses were of a character making it well- nigh impossible for any bank adequately to protect itself, TIr. Chairman of Barclays Bank preferred, as was wise, to state at once the maximum amount which it was possible for the bank' to lose either directly or indirectly, the amount, in question being just over £300,000. Our loss, Mr. Goodenough said, cannot exceed that amount, and it may be substantially less," and he explained that he was referring not only to what was known as the Hatry group and the losses incurred directly through them, but to any indirect losses which might fall upon the bank through customers to whom the bank had lent money being themselves involved.
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