"disgraceful" Concealment of Banks' Profits

The scan: The Week v7 no9.pdf (PDF, Marxists Internet Archive, opens at this page)

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from an economic correspondent On Wednesday last week the Westminster Bank reports and accounts were des— cribed as "disgraceful" for their lack of information by an angry shareholder attending the Bank's annual meeting, On the following day the annual meeting of the National Provincial Bank was similarly marked by criticisms - this time to the effect that details of tax paid by the Bank had not been revealed, On Friday it was the Midland Bank's turn for heated exchanges between the chairman and a shareholder, Mr, Wheal, who said he thought that as shareholders and owners of the bank, "we should know how much the net profits are", He also revealed that the directors, who alone had access to this information, held between them less than one fifth of one per cent of the shares, Such exchanges refute the argument, frequently used against the 'Open the Books campaign, that company law provides for inspection of accounts on request.