BANKING: Skids for Montagu Norman?

Through U.S. financial circles last week a rumor whispered that arch-conservative Montagu Norman was finally being eased out of the governorship of the Bank of England which he has held for 21 years. Reported reasons: 1) his close associations with England's appeasement group; 2) his unwillingness to subordinate finance-as-usual to war effort.

Norman will reach the age limit (70) for Bank of England directors next October. Heretofore London's City had assumed that the limit would be extended for his benefit. Last week this was no longer a good bet. The failure of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!