Next post: industry. E.C.I. was set up in May by a number of City institutions under the sponsorship of the bank of England. The initiative was a reaction to criticism of the functioning of the capital market as it affected the supply of capital for manufacturing industry. There was considerable controversy about the need for a new institution, however, and some large City institutions did not support the venture.
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Clearly the high bidder intended to say more, but the chatter stopped him. John the Second raised his hands to quiet them. My friend, it sounds like you’ve set the bar too low. We will never be able to choose a second bidder. How’s this? I will have everyone willing to take you up on your offer raise his hand, and you choose one. Oh, I never imagined myself as a powerful person in this crowd, the bidder said. Then, getting up to stand next to John the Second, he nodded.
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