Evening star., 1936-04-28
BANK Of FRANCE
MAY RE0RGAN|zE
Reported to Have Own Plan
Prepared in Event LeftistS
Win Run-off.
BY the Associated Press.

6y tne Associated PTeSS.
PARIS, April 28.-The Bank of
France, expecting new left govern
ment to emerge from the parliament
tary elections with plan to reform"
it, was reported by high financial
source today to have drafted already
its own reorganization plan.
Financiers said that, although the
bank did not expect demand for ma
tionaliZation of the institution, it
awaited campaign to give greater
representation on the board of regents
to minor shareholders and to the gov
ernment.
If leftist government should start
euch agitation" after the run-off
elections next Sunday for new Cham
ber of Deputies, financiers said, the
Bank Of France would propose:
l. That every share be given one
vote, in place of the present rule re-
stricting the right of vote in general
assemblys'' to the 200 biggest share
holders.
2. That two or three high treasury
officials. and possibly other govern
ment chiefs, be added to the banks
board of regents.
Left wing politicians have contended
that the real masters of France" are
IL elderly regent of the Bank of
France.
Two barons, a maquis and nine
plain citizens were criticized in fiery
election speeches, extremists declar-
ing these men we're the power behind
the republic" because they control the
balance of power in the banks 18-man
directorate.
Although the private institution is
sues Frances banknotes, holds 65 ,000,-
100000 francs in gold and has assets
of 95,500,0O0,O00 francs, many of the
elderly millionaires are hardly known
to their fellow citizens.
Current Quotation.
(The franc is quoted currently in
the New York market at about 6ls
cents)
There cannot exist in France two
powers-that of the state and that of
the stockholders" former Premier
Edouard Daladier, president of the
Radical-Socialist party. declared dur
ing the campaign. THE Bank of
France is a gold storehouse accessible
only to the rich"
Prominent among those who the
radicals declare hold the keys to the
gold storehouse" is Baron Edouard
de Rothschild, a member of the di-
rectorates of more than score Of
great corporations. Francois de Wen
del. chiefly known for his interest in
the famous Creusot Munitions Works,
and the Marquis de Vogue are two
others generally known. The names
of the rest are seldom heard.
In addition to the II regents elected
by the stockholders, three are ap-
pointed now by the government. and
the governor and two vice governors
also sit on the board.
Run-Offs Sunday.
Communist gains in the first election
last Sunday for a new Chamber of
Deputies, with prospects of a COM
plete Leftist victory in next Sundays
run-offS, caused French issues to sag
heavily yesterday on the Bourse
The slump was attributed to un-
easiness over the run-offs. when many
Communists, Socialists and Radical
Socialists are expected to withdraw.
to assure victory for the strongest
candidates in their Peoples Front"
All French issues suffered in the
selling wave, those of the Bank of
France dropping 400 francs.
The latest official returns gave the
Leftists and Center So seats each, and
the Rightists 81. with run-off elections
necessary to fill the others of the 6l8
seats in the chamber.