Q. Does the bank sometimes borrow money in the open market for the purpose of raising the market rate?
A. Yes.
Q. Do you sometimes sell consols for the same purpose?
A. Yes; on rare occasions.
Interview with Sir Felix Schuster, Governor of the Union of London and Smith's Bank Limited
[156]Q. Your bank is organised under the General Companies Acts as are all joint stock banks in England?
A. Yes.
Q. You are not under government supervision or examination?
A. No.
Q. The authorised par of your stock is £100, and £15 10s. have been paid on each?