 In 1694 he was chosen one of the twenty-four directors of the 'New Bank' (Bank of England), and four or five years later resumed to a certain extent his connection with the East India Company.In 1698 the old company formed a 'grand committee' of twenty-six gentlemen associated with the twenty-six of their court to deal with certain resolutions hostile to their interests which had been passed by the commons on 24 May.A similar committee was again formed in January 1699, and of this last Hedges and Sir John Letheuillier were members.