Eritrea and Abyssinia. They also have branches in Cyprus, Gibraltar, Malta and Palestine, but apparently they do not operate in South America.
What is quite interesting is the intermingling of these various institutions. Mr. W. O. Stevenson, who is director of Barclays Bank Limited, is also director of Barclays Bank (Dominion, Colonial and Overseas), Barclays Bank (France), Barclays Bank S.A.I. and Barclays Bank (Canada). Mr. W. M. Goodenough is deputy chairman of Barclays Bank as well as of Barclays Bank (Dominion, Colonial and Overseas), Barclays Bank (France) and Barclays Bank S.A.I. Sir John Caulcutt is chairman of Barclays Bank (Dominion, Colonial and Overseas) and director of Barclays Bank, Barclays Bank (France) and Barclays Bank (Canada). Mr. A. B. Gillett is vice chairman of Barclays Bank (Dominion, Colonial and Overseas) and is director of Barclays Bank, Barclays Bank (France) and Barclays Bank S.A.I. Mr. L. G. Buxton is director of Barclays Bank, Barclays Bank (France) and Barclays Bank S.A.I. Mr. H. E. Seebohm is vice chairman of Barclays Bank and chairman of Barclays Bank (France) and Barclays Bank, S.A.I. Lord Essendon is director of Barclays Bank and of Barclays Bank (Dominion, Colonial and Overseas) and Sir H. E. Snagge holds the same positions.
It is most interesting to notice how the directors of Barclays Bank, Limited, are also directors of other institutions. Many of the directors are also directors of British insurance companies. Mr. Edwin Fisher, the chairman, is also director of the Alliance Assurance Company Limited, the Century Insurance Company Limited and the Friends' Provident and Century Life Office. Lord Bethell is a director of Royal Exchange Assurance. Mr. David Martyn Evans Bevan, who is director of Barclays Bank Limited, is also a director of the Phoenix Assurance Company Limited. They are all bank directors. Lawrence Douglas Bevan, director of the bank, is also a director of the National Provident Institution. Lord Cornwallis, another director of Barclays Bank Limited, is also a director of the Liverpool, London and Globe Insurance Company Limited, of the Royal Insurance Company Limited and so on. Lord Rochdale, who is on the directorate of Barclays Bank, is also a director of the Phoenix Assurance Company Limited; Sir H. E. Snagge is also a director of the Atlas Assurance Company Limited, and Cecil Mercer Woodbridge, another director of the bank, is also a director of the Mercantile and General Insurance Company Limited. On the board of Barclays
Bank, Limited, there are some well-known people, especially Sir Follett Holt, who has. large South American interests, and Lord Melchett, of nickel fame, who succeeded his father. He has large interests in Canada, and there are other directors who are interested in -coal and various other commodities.
Coming now to the directors of the other London Barclays Bank, it is called Barclays Bank (Dominion, Colonial and Overseas). The chairman is Sir John Caulcutt, who is also director of Barclays Bank (Canada) Limited; W. M. Goodenough, deputy chairman; A. B. Gillett; J. R. Leisk, A. C. Barnes, H. R. Bradfield, The Earl of Clarendon, Sir W. H. Clark, C. L. Dalziel, Lord Essendon, Lord 1 Lugard, Sir Ernest Oppenheimer, Sir H. E. Snagge, and W. 0. Stevenson. The members of the London committee are Sir Henry Chapman, Major-General Sir A. W. Money, E. C. Ruggles-Brise. The bank has a New York agency at 120 Broadway, and here, too, are some people with high standing in the world of finance; W. M. Goodenough, a banker; A. B. Gillett, also a banker; James R. Leisk, of Pretoria, South Africa, who has interests in the gold mines and other wealth in South Africa; A. C. Barnes, and the Earl of Clarendon. The fact that the Earl of Clarendon is on the board gives the bank great standing because he is the Lord Chamberlain of His Majesty's household and has been since 1938. He is also Chancellor of the Order of St. Michael and St. George and of the Royal Victorian Order. There is also our old friend Sir William Henry Clark, who was British High Commissioner in Canada from 1928 to 1934, and for Basutoland, Bechuanaland Protectorate and Swaziland in South Africa from 1934 to 1939. Besides being a director of Barclays Bank he is also a director of the Southern Railway Company, Union Castle Mail Steamship Company and the Metropolitan Housing Corporation.
There is also Charles Lyall Dalziel, who is also on the London Board of the Bank of New South Wales, Barclays Bank (Dominion, Colonial and Overseas), Investment Trust Corporation Limited, London and Clydesdale Trust Limited and of the London and Provincial Trust Limited, the Metropolitan Trust Company Limited, Realization and Debenture Corporation of Scotland, Limited, Royal Exchange Assurance, St. Andrew's Trust Limited and the Union Castle Mail Steamship Company Limited; also Lord Essendon, who is also chairman of Furness, Withy and Company Limited and of other shipping and insurance companies associated with Furness, Withy and Company Limited
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He is also a chairman of the Royal Mail Lines Limited, Director of Cunard, White-Star Limited, Chairman of Houlder Brothers and Company Limited, a director of Barclays Bank Limited and of the Sun Life and Sun Insurance companies. He is also a member of the committee 'of Lloyd's Register of Shipping; also Lord Lugard, former governor general of Nigeria, British member of the Permanent Mandates Commission, League of Nations, 1922-1936, and a director of Barclays Bank (Dominion, Colonial and Overseas); also Sir Ernest Oppenheimer, chairman of the Anglo-American Corporation of South Africa since 1917 ancl chairman of De Beers Consolidated Mines, Limited, since 1929 and chairman also of the following companies- Consolidated Diamond Mines of South West Africa Limited, the Diamond Corporation Limited, Premier (Transvaal) Diamond Mining Company Limited; deputy chairman of Rhokana Corporation and a director of several other companies; also Sir Harold Edward Snagge, director of Barclays Bank Limited and of Barclays Bank Limited (Dominion, Colonial and Overseas), and of the Atlas Assurance Company Limited and other companies. He is also chairman of the D. Napier and Son Limited; Sir Henry Chapman, resident director and general manager of Rhodesian Railway Companies; Major-General Sir Arthur Wigram Money of the Bengal civil service, who served in the Zhob Valley expedition in 1890 and in the South African and Great Wars.
Some hon. members might perhaps say that this is just the ordinary course of business, that the directors of the London Barclays Bank are the directors of the bank here. But let me proceed a little further and then we shall reach a conclusion.
We have mentioned two Barclays banks. Here is another, Barclays Bank (France) Limited, with head office at 54 Lombard Street, London E.C. It has eight directors: H. E. Seebohm, chairman; Lieutenant-Colonel Miles Backhouse, L. G. Buxton, Sir John Caulcutt, F. Fischel, A. B. Gillett, W. M. Goodenough, and W. O. Stevenson. On one pound shares they paid five shillings per share. The bank has eleven branches in France and also one in Monte Carlo and branches in Algiers and Oran. As this is a private company it is said that its balance sheets are not published, but this information is official. Amongst the directors one is not very well known to this house. I refer to Lieutenant-Colonel Miles Backhouse, a director and a member of the managing committee of the Compagnie Internationale des Wagons Lits et des Grands Express Europeens (S.A.), a director of
Barclays Bank (France) Limited and of Cook's Bank Nominees Limited, International Sleeping Car Share Trust Limited, La Protectrice, Compagnie d'Assurance (Paris), Merchants and Manufacturers Insurance Company Limited, Thomas Cook and Son (Bankers) Limited, Thomas Cook and Son (Bankers) (France) Limited, Thomas Cook and Son Limited, Thomas Cook and Son Wagons Lits Incorporated. Another director of that bank is Frederick Fischel.
There is also an Italian company, Barclays Bank, S.A.I., of Rome, Italy, established in 1925, under Italian laws. The directors of that bank are H. E. Seebohm, chairman; Duncan Balfour, L. G. Buxton, W.' M. Goodenough, A. B. Gillett, and W. 0. Stevenson. The general manager is Duncan Balfour. Mr. L. Levi was general manager for a time but he was replaced by Mr. Balfour in 1938-39.
The story of Barclays Bank (Canada) is just as interesting as a novel. It starts a long time ago; and here is a list, not of the first officers, but of those who were on the board in 1931-32, when Mr. Bennett was in power. The president of the bank was the late Sir Robert Borden; the vice-president was the late Mr. A. B. Purvis; and there was Mr. L. A. Taschereau, a familiar figure; and Mr. A. A. Magee, of Magee, Nicholson and O'Donnell; Mr. W. 0. Stevenson, Mr. H. P. Alton, Mr. J. S. Crossley, and Mr. C. S. Macdonald. In 1934-35 Mr. Purvis was replaced by Mr. Charles Dunning, who was then out of politics before assuming again the role of minister of finance. In 1936-37 there were ten instead of eight directors. Sir Robert Borden, was president; Lieutenant Colonel A. A. Magee was vicepresident, and there were also Hon. L. A. Taschereau; Sir John Caulcutt, a new member of the board; Messrs. W. 0. Stevenson, J. S. Crossley, C. S. Macdonald, Hon. J. L. Ralston, Messrs. H. A. Stevenson, and Henry Borden. In this year Mr. Alton and Mr. Dunning were replaced by two new' members. Sir Robert Borden gave a chance to his nephew to get on the directorship of the bank-which cannot be blamed on the uncle or on the nephew.
I put these things on record. You may say, what is the connection between these gentlemen, and why do I object to that kind of finance? One who pays little "attention to these matters may say, "Well, this is exactly the same as goes on here. They have some prominent men as directors of the bank, and it is the same in England." It is not the same at all, because English interests look after themselves; but here in Canada we have a bank which is controlled by outsiders, tc
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