It might almost be said that there is a touch
of real romance in the latest matrimonial arrangement in the banking world. Few banking fusions or absorptions have aroused greater interest than the announcement which was made last week to the effect that the Royal Bank of Scotland, subject to Treasury sanction, had arranged to acquire the business of the private banking firm of Messrs. Drummonds, Charing Cross. Both of these institutions were established some two centuries ago, and while the Royal Bank of Scotland is, of course, a purely Scottish institution, Drummonds' Bank is also of Scottish descent, and a more eminently fitting fusion could scarcely be imagined. Moreover, interest in the development, of course, is quickened by the fact that it represents literally a turning of the tables by Scotch banking interests, all previous developments having been in the nature of a friendly invasion by English banking of the territories north of the Tweed. Now, however, we have one of the oldest Scottish banks absorbing an English concern, and in doing so creating a precedent for a Scotch bank to have a branch in the West-End of London. A. W. K.
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