the chairmen of the Island's two largest banks.

The Hon. Sir David Gibbons of the Bank of Butterfield and Mr. Eldon Trimingham of the Bank of Bermuda said voters should not be swayed by resignation threats from Premier the Hon. Sir John Swan and members of his Cabinet.

Sir John and Cabinet Ministers the Hon. Quinton Edness, the Hon. Maxwell Burgess, and the Hon. Irving Pearman have all said they would resign unless there is a `yes' vote in the Independence referendum.

Under the Constitution, if the Premier resigns, all Cabinet seats become vacant in any case.

Sir David said that the three Cabinet Ministers "have been identified with Sir John as very strongly in favour of Independence.

"Obviously, if there is a `no' vote, and especially if it's a resounding negative vote, based on what's projected in your poll, it can only mean that they must suffer a loss of credibility.'' A recent poll commissioned for The Royal Gazette suggested that 68 percent of voters would say `no' to Independence, while only 17 percent would say `yes'.

While it would be "unfortunate'' for the Ministers to resign, since "they can continue to make a contribution'', Sir David said it was "right and proper that they offer their resignations''.

He hoped that all four men would be prepared to reconsider.

Sir David said August 15 "represents a watershed in Bermuda's affairs''.

If Sir John is forced to resign, the caucus should "move swiftly'' to name a successor, he said. "A new man with a new Government would inspire confidence.'' Sir David would not comment on who he saw as potential successors to Sir John.

"All I can say is that provided that the caucus does give strong support to an individual, as far as I'm concerned, and as far as this bank is concerned, we will immediately give full support to the new man.'' He mentioned MPs Mr. David Dodwell, Mr. Tim Smith, Mr. John Barritt, Dr. David Dyer, and Mr. Rick Spurling as possible Ministers in a new Cabinet.

The Bank of Bermuda chairman, Mr. Trimingham, urged Bermudians to keep their eyes on the ball.

"This referendum is on whether or not we become independent,'' he said.

"This is not a referendum on the present leadership of the (United Bermuda Party) UBP.

"I think the people of Bermuda must keep that in the forefront of their minds.'' "I'm looking forward to getting this whole thing behind us so that we can begin to address some of the very pressing problems that we have in front of us, which have perhaps been neglected as a result of this.''