THE EASTERN BANK.
At the recent annual meeting of the Eastern Bank, the Chairman, Mr. J. S. Haskell, made some interesting references to conditions in the countries where the Bank's operations are carried on. In referring to the situation in India, Mr. Haskell commented upon the recent institution of the Reserve Bank in that country, and was somewhat critical of the fact that the Exchange and Local banks should be called upon to deposit with the Reserve Bank 5 per cent. of their short and 21 per cent. of their long-dated deposits, free of interest, with " no indications that any benefit would accrue to the banks for this sacrifice on their part.' Mr. Haskell- also made some pertinent observations with regard to the situation in the United States. He described the experiments in economies and finance in that country as unprecedented, confusing and disturbing. " They are," he said, " undoubtedly retarding and handicapping trade with that country and affecting the whole world."
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