Soon after Mr. Chippindale's appointment, a friend of mine received from New York a large sum in four months' bills upon Glasgow, which he wished to discount. He was well known in Birmingham, but had no regular banking account. The bank rate in London was four per cent. He took the bills first to the National Provincial Bank, where Mr. Henry Rotton offered to "do" them at four-and-a-half. This he thought too high, and he next took them to the Bank of England. Mr. Chippindale told him that the rule of the bank was not to discount anything having more than ninety days to run; but, if he left the bills as security, he could draw against them for the cash he wanted, and, as soon as the bills came within the ninety days' limit, they could be discounted at the London rate of the day. This arrangement was entered into, but, unfortunately for my friend, a sudden turn in the market sent the rate up three per cent. within the month, so that, when the transaction was completed, he had to pay seven per cent. It made a difference to him of between L200 and L300. From the time of Mr. Chippindale's appointment, the branch bank has gone quietly on in its useful course. It does not compete much with the other banks in general business; indeed, its office seems to be rather that of a bank for bankers. Now that none of the local banks issue their own notes, it is a great convenience to them to have on the spot a store of Bank of England paper, available at a moment's notice, to any required amount.