Page 503 - PERSIAN 9 1941_1947_Neat

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more than doubled and Increased towards the close of
the year. Exchange on India In particular was in
great demand during the last three months of the year.
(ii) Eastern Bank.
The transactions of the Eastern Bank were
concerned chiefly in financing the requirements of the
oil .companies operating in this area, and the Navy,
Army and Air Force Services. Their imports in currency
notes amounted to Rs.119 lacs and sales on India
amounted to Rs.70,94,392.
During the year they received 583 bills
for collection chiefly from England, India, South
Africa and the United States of America with a total
value amounting to £.98,691.
The chief goods imported through the bank
from England were cigarettes, piecegoods, hosiery,
bicycles, woollen material, hats, photographic material,
stationery, medicines and machinery; and from South
Africa, tinned provisions, and canned fruits.
(iii) Imperial Bank of Iran.
The year 1945 was the first year of the
Imperial Bank's working in Bahrain, and its activities
showed a steady increase throughout the year. The total
held in current accounts increased to Rs.31,00.COC or.
the 31st December, 1945, -from Rs.5,00,000 on 31.12.1944.
The rank’s total operations in foreign
exchange weres-
Purchases Rs.102 lacs. Sales Rs.55 lacs.
Their imports in currency notes and coin
amounted to Rs.56,15,COO during the year, Credits were
opened to cover imports into Bahrain to the extent of
P.s. 375,000. The total value of bills received for
collection amounted to Rs.850,000.
During December of the year under review
the bank made an agreement to purchase a site for a
new office. This site is situated on Prior Road between
the offices of Messrs. Gray Mackenzie and Company, Limited,
and the Arabian American Oil Company.
24. CABLE & WIRELESS LIMITED.
The staff of this branch number 43, of whom
five are European and the rest Indian.

. Their services were adequately maintained
throughout the year, continuous watch for shipping and
aircraft being kept, in addition to their telegraphic
activities, both Commercial and Service.
During the year an agreement was reached
between the Bahrain Government and cable & ITireless
Limited for the installation and operation by the
(Continued)