30 JANUARY 1926, Page 33


Of course, some allowance has to be made for the fact that bankers rarely allow themselves to wax pessi- mistic in their annual speeches, and certainly so far as the record of profits during the past few years is concerned there has been- nci reason why bank Chairmen -should Meet their shareholders other than with a smiling face. At the same time, there is no reason to suppose that on the present occasion optimism was in any way feigned, for, on the whole, the consensus of opinion in the City with regard to the financial • and- commercial outlook is also one of -quiet optimism, subject to certain quali- fications.