The Sydney Morning Herald (NSW : 1842 - 1954)(about) |
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Friday 6 February 1903
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MR, GEORGE J. COHEN.
A VALEDICTORY GATHERING,
EULOGISTIC SPEECHES.
SIR GEORGE DIBBS ON POLITICS.
Mr, George J. Cohen, who hus for miuy years been closely associated with tho commercial and financial hie of tho city, und who is now about to proceed on a 12 months' tour abroad, was yesterday afternoon entertained at a valedictory. This was porstmally arranged by Mr. T. A. Dibbs (manager of the Commercial Bank), aad hu yacht EnawaB availed of by a largo numbor of gentlemen, identified with mercantile interests in bydnoy, who wore anxious to bul Mr Cobon bou voyogo.
Tho yacht left Port Macquarie step3 at 2 p m,, tho company lacludiug Sir Georgo Dibbs, K.O.M.G , Mr. B. Jones, M.L C, Mr. F. T. Humphery, M.LC, Mr. It J.Black, M.L C , Senator J. T. Walter, Messrs, J. Russell French (Bank of Now {south Wales), T B. Gaden Donald Scott, H. H. Massie, A. Soutar, W. Tiley (Commercial Banking Company), 0. II. Hayes (secretary Royal Exchango), V. VV. Huaou, H S Lovy, L W. Coheu (Orme, Keignm, and Co ), Reginald Marks (F. Gremios and Co ), It. L. Moss and L. 1'hUhps (Moses, Mosi and Co.), Louis H. Nathan (Hoffnung and Co.). J. St. V. Welch (Commercial Union), T. B. Dibbs, Henry Moses, jun, J. Talk, and E. S Capo. The yacht first steamed ni far as tho Parramatta Elver and afterwards proceeded into Middlo Har- bour. A atoppage was made at Mr. Dibbs's moorings at Lobo Farm, Champagne was uncorked and a short toast list was honoured, Mr. T. A, Dibbs proposed '? The Health of Mr. Cohen," and in doing so referred to the sterling qualities of the chairman of tho Commercial Bank. During tho last 2C years of his management at the bjnk he had known three chairmen. Tho memory of two ho hold ia aiïoo Uouato regard, and ho behoved Mr. Cohen was not an uuworthy successor of those eminent gentlemen whoso high abihty and probity made them so dis tmguiahad in the naukiug life of tho city. Mr. Cohen, too, was chairman of many institutions, and m fact ho was closolv bound up with tho throbbing fiulso of this oity. Yet m tho primo of life, it was au
lonour indeed to occupy the proud position that Mr. Cohen did, (Hear, bear.) Ho waa a liberal, pro- gressive, and, ubovu all, an uiestimublo cibzoii. He need hardly say ho was hoad ot his own persuasion, and ia ether respects his kindness of heart, vast oxpBrieucc, nud business ability coeamandod their utmost respect, (Hear, hear.) On behalf of tho many gentlemen who know his worth, especially on behalf of tho bankers of Sydney, ho wished Mr. and Mis. Coben a ver. pleasant trip to tho old country.
Mr. Cohen, m roply, thanked those present for their kind wishes. Ila liad beau connected with the Commercial Bank for mauy years, and ho had always found it ft- pleasure, and, indeed, a privilege to be associated with Mr.'Dibbs, inasmuch as hu had shown such u grasp of flnancu that his own position as chairman had almost become a smecaro Ou many occasion» difficult problems had cropped up-as they must do in all large institutions-which required much consideration, but without exception the clouds had been dispelled mainly through tba in- strumentality of their ablo manager. That said much far his ability (Hear, heal.) With regard to other institutions with which ho was connected tho same thing in a large measure applied. He wan chairman of tho Royal Exehango, but everyone kuow that his f nond, Mr, C. U Hayes, was really that institution. Ho might' sav, however, apart from) possessing ablo lieutenants, that whenever bo undertook a j.oBitiou m cuy institution ho did lus best to fuitber its in- terests (Hear, hear.) It was a deep and responsible duty, and it was a duty that made work a plcasuro. He was certain that after being m harness so long, if tho yoke mw now removed,entirely ho would die of enuui Apparently his connection with tho Com- mercial Banking Compan. bael proved successful. Ho siucerely trusted for lus own satisfaction, and for those who vvero connected with it, that it would long oontinuo to prosper. (Hear, bear) Ho coucludod b. proposing " Tho Health, Happiness, and Pros Einty of Mr and Mrs. Dibbs and Family " Mr
lbbs, he Btatcd, had been connected wita the bank for over half a eoutury,
Mr. Dibbs replied
Mr It J Black proposed " The Commercial Bank of ¡sydney "
Mr G. J. Cohen, ia reply, gavo a brief history of tho bank Ho stated that tho Bank of Now boullt Wales was founded m 1817, and attained its majority beforo the Commercial Bank started m 1838. lu those days money waa very scarce, and the parent
bank used to issue its balanco-sheet in dollars For yours small money was also very scarce, the only copper coinage then current being tokens Many firms used to import tons of copper tokous issued by a well-known pill company m England. They cost Gs per gross, and were sold hero at 9s per gross. The peoplo who bought them circulated thom at ono penny, and m this way somo large profits were made, ¡speaking of recent times ho said the banks named were happy competitors, but each had tho interests of its clients at heart, Thoy did all they coald to nurse their constituents in tight times to enable them to overcome temporary ditbculty, and to attain prosperity (Hear, hear.) Messrs M030- and Jones also replied.
Mr Folk proposed " Tho Bank of Now South Wales," to which Soaator Walker, and Messrs. Bussell Trench and Black replied
Mr. H. S. Levy, m asking tho company to drink to tho .' Health of Sir Georgo Dibbs,'1 said that gentleman, w as so w oil knott u amongst them that it would bo presumption to dwell on tho esteem m which all hold him. Ho would say, however, that his retirement from polities some timo ago was ono very much regretted, as ho had prored himself an
able mau m public life,
Sir Georgo Dibbs, after his introductory remarks, saul ho had devoted 40 \ cars to Parliamentary hfo, aud ho was Bony to say ho did not find himself any botter for it that day, thoy had proved yenni of worry and anxiety, but ho hoped he had not loft some good undono during that long term of office. Ho recog- nised that tho timo liad arrived m our political life tor a complete reform. So far as useful politics was concerned they were at as low an ebb as it was possible to get tiltia, and nothing short of a revolu- tion would Bring confidence back again. He would hko to see young meu como fbrwnrd and offer to govoru on sound lineo. The country at present was uot being governed proporly by any moans.
Until they had young men, vv eil educated and of irreproachable character, who woro prepared to give their services loyally, he was afraid tho present un- satisfactory conditions would prevail 'lo secure iJOO should not bo tbe solo object aimed at Referring to banking institutions, it was, ho said, admittemy truo that the Commereial Bank »nd the Bank of Now South Wales woro tho first und fore- most banks of Australia, because the. woro banks of purely Australian concern. They needed, there- fore, to have powerful mon connected with thom This was necessary for tho commercial element of the country, as well as lor tho benefit of the banks themselves. Without doubt it was generally recog- nised that tho banks were so bound up with the interests of the State that it could uot conve- niently dispenso with thom. (Hear, hear.)
Tho company returned to Sydney shortly after C
o'clock.