05 Jan 1934 - NEW CHAIRMAN.

Original
Corrected

Line Above	{LINE ABOVE}
Current Line	{CURRENT LINE} Remove Insert line below Insert line above Duplicate this line Move line up Move line down
Line below	{LINE BELOW}

周zhoū五wŭ 5 1月yuè 1934 - The Sydney Morning Herald (NSW : 1842 - 1954)
Page 9 - NEW CHAIRMAN.

NEW CHAIRMAN.

Commonwealth Bank.]

MR. C. H. READING.

MELBOURNE. Thursday.

At a mooting of the hoard of the Com-
monwealth Bank in Melbourne this after-
noon, Mr. C. II. Beading was elected
chairman fcr the uncxplrcd portion of the
lat-e Sir Rob;rt Gibson's term of office
as chairman.

Sir Robert Gibson's term as chairman
would have expired in October next. Sir
Robert Gibson had helo Mr. Reading fn the
highest regard, and Mr. Reading's election
as chairman did not carne as a surprise.

The formal motion was moved by Mr. R. B.
W. McComas, and seconded by Mr. R. S.
Drummond, tile only two members of the pre-
sent board who were appointed to the original
board. Mr. Reading received the congratu-
lations of his colleagues on the board.

The Government has the duty of appointing
members to the board of the Bank, but the
appointment of chairman is the prerogative
of the board Itself. Ordinarily the monthly
meeting of the board would have taken placo
on January 15, but all the directors were in
Melbourne to-day. There is no power to
appoint an acting chairman except for the
purpose of presiding at a meeting, and as
many executive matters have to be attended
to by the chairman between meetings it was
decided to make the appointment to-day.

The appointment was the first business
before to-day's meeting. The board after-
wards, under the new chairman, transacted
routine business. It will not be necessary
for the board to meet again until next month.

NEW CHAIRMAN'S STATEMENT.

Interviewed to-night, Mr. Reading said he
felt that a great honour had been bestowed on
him. Fortunately, ho had the benefit of
working closely with Sir Robert Gibson for
six years. That period had been a great
education for him In the principles of national
banking, and he was hopeful that that ex-
perience would help him in carrying out the
responsible work that had to be performed by
the chairman of the Commonwealth Bank.

"I used to diseurs matters with Sir Robert
Gibson very fully," he said, "and I am hoping
that I have got an insight into his mind on
the big financial questions with which the
bank is called upon to deal from time to time.
Sir Robert Gibson was always very frank with
me, as he was with other members of the
board, and his lucid explanations give me a
feeling of gratitude that I have his mind on
these important questions,"

NEW APPOINTMENTS.

When the Federal Cablr-it meets on Janu-
ary 19, it will consider the appointment of
two new members to the Bank Board to fill
the vacancies caused by the death of Sir
Robert Gibson and the retirement of Mr.
Mackenzie Leos. The opinion Is held in finan-
cial circles that comparatively young men
will be appointed to the board, thus assuring
long service and continuity of policy.

BANK BOARD'S RESOLUTION.

The board of the Commonwealth Bank
passed a resolution expressing its deep re-
gret at the death of Sir Robert Gibson, and
stating that his work as chairman was an
inspiration to his colleagues; hie ideals were
the loftiest, and at all times he placed the
national well-being before every other con-
sideration; he was eminently fitted for his
high office, in which he was a tower of
strength; his work would stand as a monu-
ment to his devotion to the interests of the
bank, and through it to Australia. His
death left a gap which would not be easily
bridged.

Download Citation

Additional Categories (0)

Article text

Word position

Line position

Paragraphs

Zones

Tables

Illustrations

Metadata

Cite

Download Citation

Buy

Download

Share

Print

Tags (0) Help

Lists (0) Help

Appears in these lists:

Notes (0) Help

Article Categories Help

Original Category

Additional Categories (0)