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’My first reason is siundy, apparently not giving alikelihood that Gerrapes in most of the vineyards in France ’I think the bank will lose land, ’Of course, you will lose a little money,’ said William, ’but we must support the British!

’Why?’ asked Tony ’We’re a bank, not a supporters’club’

’Brita&s not a baseball team, Tony; it’s a nation of people to e our entire heritageI Tou should take up politics,’ said Tony ’I’ Nevertheless, I feel theres a far more important reason e should close the branch If Hitler marches into Britain the way he has into Poland and France - and I’m sure that is exactly what he intends to do - the bank will be taken over, and ould lose every penny we have in London!

’Over my dead body,’said William ’If Hitler puts so much as a foot on British soil, America will enter the war the s day

’Never,’ said Tony ’FDR has said, "all aid short of war" And the Ahty hue and cry!

’Never listen to a politician,’ said William ’Especially Roosevelt When he says "never", that onlyYou only have to rehed ’When are you going to run for the Senate, William?’

’Now there is a question to which I can safely answer never’

’I respect your feelings, William, but I want out!

’You’re the chairman,’ replied William ’If the board backs you, you can close the London branch toainst a ether, and it becomes your decision!

’I told you once, Tony, that I would never attempt to do that while you were chairman ies a proht to undy on the tablecloth, unable to believe what he had just heard ’Good heavens, Tony, I’ll say one thing for you, you!re never predictable’

’I have the best interests of the bank at heart, as always, William

Think about the present situation for a mofnent New York is now, oes under to Hitler, it will be the centre of world finance, so that’s where Kane and Cabot needs to be Moreover, if we ed, ould create a more comprehensive institution because our specialitiesare coreat deal of ship and heavy industry financing while Lester’s does very little Conversely, you do a lot of underwriting, and we hardly touch it Not to mention the fact that inoffices’

’Tony, I agree with everything you!ve said, but I would stiff want to stay in Britain!’Exactly proving my point, William Kane and Caboes London branch would be closed, but ould still keep Lestees ’Men, if London goes through a rough passage, it won!t matter as er’

9But hoould you feel if I said that while t restrictions on merchant banks will only allow us to work out of one state, a er could succeed only if we ran the entire operafion fro office?’

Ird back you; said Tony and added, ’Youthe aft - aight investment work’

’No~ Tony FDIL has made it impossible for an honest man to do both, and in any case roup of rich people or a large group of poor people so Lester’s will always re as I’e the two banks don!t you foresee iven goodwill on both sides However, you will have to consider the implications carefully, William, as you would undoubtedly lose overall control of the new bank as a minority shareholder which would always make you vulnerable to a takeover bid’

Td risk that to be chairest financial institutions in A, elated by his discussion and called a boardof Lester’s to outline 78 Tony Simmons’ proposal When he found that the board approved of a er in the bank to consider the whole plan in greater detail