Unit 15.The english commercial вanks Active Vocabulary

a shareholder-акционер

a chairman-председатель

a board of directors-совет директоров

a managing director-директор распорядитель (может быть в одном лице владелец и управляющий)

a deposit account-депозит

a current account-текущий счет

a branch- филиал

an annual general meeting-годовое общее собрание (встреча)

an over-all policy

a cheque-чек

a standing order-письменный приказ клиента банку о проведении регулярных платежей

a savings account-сберегательный счет

total profit-общая прибыль

distribution –распределение; распространение, рассылка; размещение (займа, ценных бумаг и т.п.)

a fund-фонд

an investment-инвестиция, вклад

TEXT

The English Commercial banks have branches in all major towns. The owners are the shareholders. They are ail organized on the joint stock principle and are registered public companies.

The Chairman and Board of Directors are elected by the ordinary shareholders at the Annual General Meeting. The Board is concerned with the over all policy of the bank.

The board appoints a Managing Director, who is directly responsible to them and a member of the Board.

The essence of a bank's activities is the collection of deposits through current accounts and deposit accounts and the use of these funds to provide loans or funds for investments. The current account is drawn upon by cheques and standing orders. The deposit account is more in the nature of a saving account. The bank must use the funds wisely to make a profit. Funds must be available for depositors to withdraw when they wish to do so.

At the end of each business year the director recommends and the Annual General Meeting decides how much of the profit should be distributed to the shareholders as dividends, and how much should be retained in the business. In preparation for the Annual General Meeting a bank publishes its Report and Accounts. These must be sent to each shareholder. From the published accounts shareholders can easily determine the total profit of the bank, how much it has earned and how much is available for distribution.

Exercise 1. Questions on the text:

1. Who owns the English commercial banks?

2. How does a bank start?

3. Who chooses the Board?

4. What is the Board's task?

5. Who hires the employees?

6. What are the bank's main activities?

7. How are the profits distributed?

8. How are the shareholders informed?

Exercise 2. Dialogue:

Student: Who really owns the bank?

Banker: The stockholders own it.

Student: Are the members of the board of directors stockholders? The board hires the president and the vice-president to manage it, doesn't it?

Banker: That's right.

Student: I think most of your work has to do with checking and saving accounts and making loans.

Banker: Yes. But we invest money too.

Student: Do you divide all the profits among the stockholders?

Banker: Not all of it. The stockholders receive regular dividends. But some of our earnings are held in reserve accounts.

Student: I suppose that would be necessary.

Banker: Here is a copy of our last published statement. You see, the reserves are shown here as a surplus arid undivided profits.

Student: Thank you very much for the useful information.

Banker: It is a pleasure. Good bye!

Student: Good bye!

Exercise 3. Choose the necessary word and put it in the sentence

1. The ordinary shareholders elect the...

2. The Board appoints a …

3. Shareholders can determine the ... of bank from the published ....

4. This bank is asking ten ....

5. Their company takes a long-term ... from the ....

(commercial bank, total profits, loan, per cent interest, managing director, accounts, chairman and board of directors)

Exercise 4. Give Russian equivalents to the following words:

published statement

to be available for

regular dividends

to earn

Exercise 5. Find the word

Across:

4) are elected by the ________________ shareholders

7) the ________ of deposits

10) in __________ for the Annual General Meeting

Down:

1) a member of the ________

2) at the __________ General Meeting

3) on the joint stock ____________

5) funds must be __________

6) at the ______ of each business

8) through __________ accounts

9) the __________ profit of the bank

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10

Exercise 6. Translate sentences into Russian paying attention to the absolute participial construction

1. Прекрати разговаривать. (stop)

2. Я закончила готовить. (finish)

3. Компания задерживает оплату счетов. (delay)

4. Продолжай рассказывать. (go on)

5. Президент отложил визит в Иорданию. (put off)

6. Мы продолжали копать. (keep)

7. Я бросил курить. (give up)

8. Я с удовольствием поплавал в море. (enjoy)

9. Вы не возражаете, если я закурю? (mind)

10. Я предлагал, чтобы мы не ходили туда. (suggest)

11. Я хочу, чтобы ты работал лучше. (want)

12. Я прошу, чтобы ты работал больше. (ask)

13. Я ожидаю, что ты будешь работать без выходных. (expect)

14. Я помогу тебе работать лучше. (help)

15. Я научу тебя работать больше. (teach)

16. Я бы хотел, чтобы ты мне платил больше. (would like)

17. Я сказал бухгалтеру выдать тебе премию. (tell)

18. Я приказал бухгалтеру выдать тебе премию. (order)

19. Я напомню бухгалтеру выдать тебе премию. (remind)

20. Я предупредил тебя, чтобы не опаздывал. (warn)

Exercise 7. Replace these sentences with gerund using prepositions in the brackets.

E.g. The woman insisted that Olga should come to see her (on). = The woman insisted on Olga’s coming to see her.

1) Helen suggested that they should go on a trip.

2) I had no idea that he would have Belgorod soon (of).

3) The mother was surprised that her daughter have tided up the room (at).

4) She stayed in town the whole summer because her daughter was ill (of).

5) Do you mind if I smoke here?

6) Will you object if I close the door (to)?

7) In spite that he hasn’t had any university education he was a very intelligent man (of).

Exercise 8. Translate into Russian

1. We all like listening to his lectures.

2. They started working two days ago.

3. His coming so late seemed strange to everybody.

4. Do you mind closing the door?

5. Do you mind my closing the door?

1. Examining the manuscript through a lense gave interesting results.

6. Excuse my being so late.

7. We regretted our having missed the opening lecture.

9. We regret his not being sent to the conference.

10. There is hardly any person who likes being criticized.

11. Stop asking me about it.

12. It is worth while remembering this rule.

13. These words are worth remembering.

14. I can't help laughing when I think of it.

15. I don't feel like telling them all about our plans.

16. He hates being interrupted.

17. It's no use arguing now.

18. He gave up smoking last year.

19. Your watch wants repairing.

20. It was no good asking him.

Exercise 9. Put the verbs in brackets into the necessary form of the gerund

1) Excuse me for (to break) your beautiful vase.

2) The cat was afraid of (to punish) and hid itself under the sofa.

3) The machine needs (to clean).

4) Why do you avoid (to speak) to me?

5) He showed no sign of (to recognize) me?

6) He complains of (to prevent) by me.

7) Continue (to read).

Exercise 10. Make infinitives (with or without «to») or gerunds (add «-ing») of the verbs in brackets to make the following sentences grammatically correct

1) She doesn’t allow ______ in the house (smoke)

2) I’ve never been to Iceland but I’d like _________ there (go)

3) I’m in a difficult position. What do you advertise me _________ ?

4) She said the letter was personal and wouldn’t let me ________ it.

5) We were kept at the police station for two hours and then we were allowed _____ (go)

6) Where would you recommend _______ in that restaurant. The food is awful (eat)

7) I wouldn’t recommend _________ in that restaurant. The food is awful (eat)

8) The film was very sad. It made me _________ (cry)

Exercise 11. Translate into Russian:

1. Samuel Johnson was born in 1709. As his father was a bookseller, he had early opportunity of becoming well acquainted with books.

2. But there are some other reasons for questioning this theory.

3. It is one of the purposes of this book to try to show some of the difficulties of the novelist in portraying the soul of man.

4. It has been said that the two oldest and greatest inventions of man were the wheel and the art of controlling fire.

5. Lima, the city founded by Pizarro, has the reputation of being the handsomest city in South America.

6. Pictographic writing is a true writing, since it is a means of recording language, not just an alternative way of expressing the concepts which language expresses.

7. A considerable number of pictographic writing systems have been developed at different times in different parts of the world quite independently of one another, so that we have no ground for talking about the «evolution» by man of the art of writing.

8. One almost inevitably arrives at the idea of having a series of signs representing syllables in which each consonant of the language is paired with each vowel.

9. The «Brut» is important because it made known many of the Celtic myths dealing with the history of the land, and also because it showed the possibility of using the Norman-French legends in the English literature.

10. The Pre-Raphaelites also had the advantage of being more fully acquainted with medieval literature, art and thought.

Exercise 12. Translate into Russian:

1. We shall close this chapter by considering one more type of assimilation.

2. The author shows how a language varies in passing from one social group to another.

3. She tore the letter into small pieces without reading it.

4. In discussing the problem they touched upon some very interesting items.

5. He liked to do things without disturbing anyone or being disturbed.

6. In digging into the mounds, the explorers discovered in many of them hearths which furnished a great number of relics.

7. Addison (1672) proceeded to Oxford, and later, on receiving a travelling scholarship, passed four years on the Continent.

9. In selecting this spot as the site for an encampment, the Indians displayed a keen appreciation of its unsurpassed natural advantages.

10. The only safe method is to trace step by step the actual changes that a word has undergone , by examining its existing forms till the earliest is reached.

11. In 1872 Courbet sent two paintings to the Salon, which were rejected on political grounds, without being looked at.

12. The first problem in reviewing the world's languages is to decide what to count a language.

13. The mollusks had evidently been opened by placing them on fire.

14. Henry Mayhew was a journalist and comic dramatist born in 1812 who turned to journalism after running away to sea as a boy and later serving as a clerk in his father's law office.

15. As a result a new school of literature arose, which, without being in sharp contrast with the old, contained some distinctly new elements.

Exercise 13. Translate into Russian:

1. In some cases I contented myself with giving the bare references without printing the sentences in full.

2. Scientific discoveries affected intellectual life by overthrowing many of the old ideas respecting the world and nature.

3. The historian, according to the critics, sinned against the past by giving it an order and a symmetry which it did not possess. Instead of reliving history, he recreated it.

4. In estimating these poems we should make ourselves aware of the literary situation wherein they were written.

5. The investigation aims at establishing historical results regarding settlement and economic and social life.

6. I am told that he has never wanted to learn Chinese as a language, that he does not speak it and has little interest in hearing it spoken.

7. At the beginning of the period, the poets follow the teaching of Dryden in attending more to the method of expressing their ideal than to the ideas themselves.

8. The exhibition of any genuine passion or of any imagination would have seemed to the cultured gallants of that age a sign of vulgarity. The only quality worth possessing was considered to be «the plain good sense».

9. The novelist can similarly tell a story without laying claim to having witnessed or participated in what he narrates.

10. Those who find no intellectual pleasure in reading foreign languages, or perhaps even in trying to read them, must admit that some ability to do so is of practical value.

11. Comparative grammar compares grammatical phenomena of a language with those of the cognate languages, that is, languages which are related to it through having arisen from a common parent language.

12. The very nobles who helped Henry to overcome Richard, because they hoped that by so doing they would further their own advancement, rose against him when he tried to assert his authority over them.

13. He held office of the most important judge in England for four years, and might have held it longer, but that he was accused of taking bribes.

14. These inventions, far from being used for the benefit of mankind, were employed by the priests of Egypt to simulate miracles, and so, by facilitating a pious fraud on the faithful, to assist in the secular struggle of superstition against reason.

15. Primarily synonyms should be studied for the sake of enabling a speaker or a writer to say exactly what he needs.

19. In endeavouring to repeat the blow he (the knight) used such force that his left stirrup-leather broke, and he was on the point of falling from his horse.

17. One can readily understand that for natives the tribute became insufferable and they sought recourse and revenge in waylaying and killing their oppressors.

18. He started by night to escape being seen by anyone.

19. The American School (of linguistics) is like the Prague School in not having a fully elaborated approach to the description of grammatical phenomena.

20. The island is unique in having a sandy shore and is surrounded by an amphitheatre of low hills.

Exercise 14. Translate into Russian:

1. Of late years some geologists have declared themselves in favour of admitting the existence of the glacial stages, basing their theory on weighty arguments.

2. On leaving the College H. Wells again took up teaching, but in 1893 ill-health compelled him to leave the profession and turn to literature.

3. We aim at laying down in very rough outlines the principles for a phonemic decipherment of a written text.

4. As Somerset Maugham is difficult to classify either by the literary forms he uses or by the kind of reader he engages, it may be worth while trying another approach.

5. Alfred then took steps to prevent the Danes from ever becoming dangerous again.

6. The Stoics began by asserting the equality of slaves and free men, but they never drew the obvious conclusion that slavery should therefore be abolished.

7. The step from pictographic to syllabic writing is an easy, logical and, it might seem, self-evident one; yet there have been several nations which developed the first without ever proceeding to the second.

8. As will be clear by now, true alphabetic writing consists in having a sign for each sound (technically each phoneme) of the language rather than one for each word or one for each syllable.

9. Man alone has succeeded in impressing his stamp on nature, not only by shifting the plant and animal world from one place to another, but also by so altering the aspect and climate of his dwelling place, and even the plants and animals themselves, that the consequences of his activity can disappear only with the general extinction of the terrestrial globe.

10. About 1814 Scott largely gave up writing poetry and save for short pieces mainly in the novels, wrote no more in verse.

11. For the modern linguist the achievement of his ultimate objective would consist in being able to answer all questions that could be asked about language as a general concept, or about any particular concept.

12. Exeter, the ancient capital of Devonshire, is a lovely city, proud of being the only English town that has been lived in continuously since the time of the Romans.

13. One can only wish that progressive literary criticism in Britain will follow even more bravely the teachings of Lenin about there being two nations in every nation and two cultures in every culture.

14. Still, enough evidence is at hand to support a surmise that the South American Indian languages are of a structure similar to that of the North American ones, and that there is a possibility of some day proving all of them to be related.

15. Northern Chinese having lost all its final stops and converted -m everywhere into -n, obscures this phenomenon to a great extent.

16. Prince Regent married his cousin, Caroline of Brunswick, simply because it offered a prospect of his debts being paid.

17. One of Shaw's earliest plays, «Widowers' Houses» (1892) is in reality a strong attack upon those people who live quietly and comfortably upon unearned income without troubling to inquire how the money is procured.

18. Dunstan had a reputation of being the greatest manager of state affairs of all who lived before the Norman Conquest.

19. If a word refers to some person or thing without giving a name to the person or thing referred to, the word is a pronoun.

20. But when a nation thus speaking a variety of dialects attains a high degree of civilization, that unity and centralization which results in one town becoming the capital, results also in one definite dialect — generally, of course, that of the capital itself — being used as the general means of communication through the whole territory, especially, as is generally the case, the dialects have already diverged so much from each other that some at least of them are mutually unintelligible.