MANCHESTER BANK-CHAIRMEN.
The speeches of the chairmen of the District Bank and of Williams Deacon's Bank always command close attention. As both these banks have their headquarters in Manchester, the chairman's field of vision includes a little more of industry and a little less of finance than does that of the "Big Five." This year the remarks of Mr. G. P. Dewhurst, the chairman of Williams Deacon's, and Sir R. Noton Barclay, chairman of the District Bank, have fully justified the attention they have received.
These two chairmen do not see the present check to business from identical angles, but they agree in thinking that there will be no major depression. Mr. Dewhurst calls it an " inter- lude" which "need not necessarily affect the position of the country's industries with their prospect of continued activity ahead." Sir R. Noton Barclay thinks that we may see a natural recession this year and that the fall in wholesale prices may entail an early setback in exports. But he believes that the outlook is by no means unfavourable and that on the whole employment is likely to remain good and the home trade active. On the need of the moment both bank-chairmen are in agree- ment. It is to foster the export trades.
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