Modern Review September 1945

In the East the Code of Honour amongst warriors is far more ancient amongst the civilized peoples of Asia whence resulted the magnificent civilization of the East that were destroyed by the barbarians of the West and Per-West whose methods of warfare were devoid of all concepts of honour and morality. [...] The Government of India's mineral policy came up for discussion in the Central Legislative Assembly over the question of the election of a member to the Advisory Committee for the Utilisation Branch of the Geological Survey of India. [...] The first among these is "the tendency among a few banks to acquire control of nonbanking companies by the purchase of the latter's shares regardless of the price and yield and the effects of the deal on the bank's financial position. [...] Closely allied to this one the intelocking of interests between banks and concerns and the holding of large blacks of shares of companies controlled by the management or directors the flottion of investment trusts for such purposes and in general the tendency to use a part of the depositors' money for the benefit of the management against the traditional canons of safety profitability and [...] In some cases the expenditure incurred on branches is out of all proportion to the resources of the institution or the capacity of the head office or available trained staff to control them officially." The third undes=irable feature "in the excessive manipulation practised in a few instances at the time of the preparation of balance sheets which give an altogether misleading impression of the