Liquidation must be a profitable business. Mr. I. H. Cannan
" liquidated " the affairs of the Agra Bank, that is to say, he col- lected 4,000,0001. owing to them, paid their clerks in London, settled with creditors, and generally put affairs straight. He made no bargain, but when the Bank was re-opened,—a measure he, according to the chairman, opposed,—he demanded 25,0001. The Directors thought the claim exorbitant, and referred him to Chancery, and he has appealed to that Court and to the public. The verdict of the latter will be, we think, against him. If Mr. Cannan did anything an able Bank Manager could not do, he should have fixed his price beforehand, at any figure he pleased. If he did not, then the sum is too much for leas than one year's work as a bank manager, for that, and nothing else, is what a Bank liquidator really is. He is extra hard worked, and ought to have extra pay, but there his moral claim ends. If be does not like those terms, he should make a strict bargain before- hand, leaving those concerned to find some one who does.
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