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HAMBROS BANK.
At the recent meeting of Hambros Bank, the Chairman, Mr. Olaf Hambro, made some shrewd and interesting observa- tions concerning the general financial situation. The report of his own Bank was a good one, and a feature in the balance- sheet was the increase in Acceptances. Concerning this item, Mr. Hambro said, " The European bankers and merchants who had learnt during the last ten 'years to ask for dollar credits have now returned to London. Especially is this true of the Northern countries who sell large quantitiek of pulp and paper to America, and this accounts nearly entirely for the increase in the acceptances of our Bank." But while domestic conditions have improved, Mr. Hambro had to de- scribe the international situation as a whole as still un- satisfactory, and he referred to the manner in which the policy of the United States has at times given rise to violent speculation in exchanges, which has made contracts with that country difficult and complicated, owing to the impossibility of the merchant being able to price his goods except by selling the' forward dollars he was to receive for them.
The £10 shares with £2 10s. paid stand at about £10, thus giving a yield of about 41 per cent.
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