(14) Extract from a Special Meeting of the Bank Committee held at the Council House (March 2nd 1933)
The
Chairman stated that the Meeting had been called to consider the question of the remuneration of the General Manager. The Committee
were informed of the recent decision of the General Purposes Sub-Committee on this subject, but, having regard to all the circumstances,
were of opinion that an advance should be granted this year, and after careful consideration it was:
RESOLVED: That, subject
to the approval of the Salaries, Wages and Labour Committee, the salary of Mr J P Hilton (General Manager) be increased by the sum
of £100 per annum as from the 1st April, 1933.
The Salaries, Wages and Labour Committee approved the increase.
(15)
Report of Special Sub-Committee (January 15th 1934)
Salary of Assistant General Manager
This Sub-committee (consisting
of the Chairman and Chairman of the Sub-Committee) were appointed by the General Purposes Sub-Committee to consider the salary of
Mr F Ellison. After taking into consideration the efficient manner in which this officer carries out the responsible duties of his
position and the fact that no increase has been granted since 1930, it is recommended that, subject to the approval of the Salaries,
Wages and Labour Committee, the salary of Mr Ellison be increased by £100 per annum as from the 1st April, 1934.
(16) Extract
from the Minutes of the Finance and General Purposes Sub-Committee (January 20th, 1936):
Salary of General Manager
Your
Sub-Committee have given careful consideration to the salary of the General Manager and are of opinion that, in view of the continued
progress made by the Bank and the increased responsibilities arising therefrom, the salary of Mr J P Hilton should be increased by
£100 as from the 1st April, 1936, bringing his salary up to £1,850 per annum. They recommend accordingly, subject to the approval
of the Salaries, Wages & Labour Committee.
The last increase to Mr Hilton was granted in 1933, when his salary was increased
by £100 per annum. The attached statistics indicate the increase in the activities of the Bank since that time.
(17) Extract from the Minutes of the Finance and General Purposes Sub-Committee (January 18th 1937):
Salary of Assistant General
Manager
Your Sub-Committee have considered the question of the salary of the Assistant General Manager (Mr F Ellison) whose present
remuneration is £1,100, his last increase being £100 in April 1934. They recommend that, subject to the approval of the Salaries,
Wages and Labour Committee, his salary be increased as from the 1st April next by £50 per annum.
Salary of General Manager
Your
Committee are reminded that at the January meeting last year a recommendation to increase the salary of Mr J P Hilton by £100 per
annum as from the 1st April 1936 was adopted. The Salaries, Wages and Labour Committee subsequently indicated, however, that, having
given careful consideration to the recommendation of the Bank Committee, they were unable at that time to assent to the advance proposed.
It
should be pointed out that the last increase to Mr Hilton was granted in 1933 when his salary was increased by £100 per annum to £1750.
Your Sub-Committee consider that in view of the substantial progress made by the Bank during the four years which have elapsed, the
proposed increase of £100 per annum contemplated last year is increasingly justified, and they recommend that the Salaries, Wages
and Labour Committee be again approached with a view to such increase being approved as from 1st April, 1937.
(18) Minutes of
a Special Meeting of the Bank Committee held on Wednesday, December 15th, 1937, at the Council House:
The Chairman explained
the circumstances necessitating the calling of the special meeting, which were to the following effect:
"Two months ago certain
rumours reached me alleging that Mr Hilton's son was receiving commissions for Insurance connected with the Bank. I asked Mr David
Neal of Agar Bates & Co to investigate the matter and report to me, and I also got into touch with Councillor Cooper and Councillor
Martineau.
"Whilst these investigations were proceeding, a statement to the same effect was given by a member of the Council
to the Town Clerk who arranged an interview with Councillor Martineau and me, and afterwards with Mr David Neal.
"Subsequently
an interview was held with Mr Hilton.
"Mr Hilton stated that certain commissions were being received by his son, but that they
were, in his opinion, in order, as up to four years ago he had been himself receiving similar commissions and had done so since 1927.
"The
matter has been fully investigated, and it is found that, when engaged, Mr Hilton had an agency for the Royal Insurance Company, and
on asking if he should continue this was told that he could do so.
"It must be clearly understood that neither Mr Hilton nor
his son has ever received any commission on policies taken out directly by the Bank; but only on policies taken out by depositors
on the contents of houses in mortgage to the Bank, or policies on houses, the mortgages on which have been paid off, and are therefore
completely detached from any connection with the Bank.
"It has been found that the total amount of commission received by Mr
Hilton and his son amounts to £1,174.
"Of this amount £440 was received on commission on policies on houses, the mortgages on
which have been paid off.
"The remaining £730 has been on the contents of houses and on other insurances, and part of these has
been connected with houses, the mortgages on which have been paid off.
"It is obvious on examining all the facts that no attempt
has been made to hide the fact of receiving these commissions.
"The Members who investigated the matter are convinced that Mr
Hilton acted entirely innocently, though it was a bad error of judgement on his part.
"Mr Hilton states that he is willing to
refund such sum as the Committee may consider appropriate, and it is recommended that this sum should be £600."
The Committee
made full inquiry into the relevant facts of the case in the presence of Mr Hilton, who subsequently made a statement, after which
he retired from the room. After full consideration of the whole matter, it was unanimously:
RESOLVED: That this Committee, after
investigating the complaint referred to, although feeling that Mr Hilton made no attempt at any time to hide the insurance transactions,
and in the opinion of the Committee has at all times acted in good faith, nevertheless consider that he has in the circumstances under
consideration, committed a serious error of judgement deserving of censure.
RESOLVED: That the House Purchase Sub-Committee be
directed to consider the whole question of insurances affecting the Bank, reporting thereon to this Committee in due course.
(19)
Extract from the Minutes of the Finance and General Purposes Sub-Committee (January 16th 1939):
Salary of General Manager
Your
Sub-Committee have given careful consideration to the salary of the General Manager, whose present remuneration is £1850 per annum,
his last increase being £100 in April 1937. In view of the continued progress made by the Bank and the increasing responsibility arising
therefrom, they recommend that the salary of Mr Hilton should be increased, subject to the approval of the Salaries, Wages and Labour
Committee, by £75 per annum as from the 1st April 1939.
Salary of Assistant General Manager
Your Sub-committee have also
reviewed the salary of the Assistant General Manager (Mr F Ellison) whose present remuneration is £1150, his last increase being £50
in April 1937. They recommend that, subject to the approval of the Salaries, Wages and Labour Committee, his salary be increased as
from the 1st April next by £50 per annum.