New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-06-09
WHO OWN BANK STOCK.

LARGE CAPITALISTS NOT HOLDERS.
TIE MAJORITY THE PROPERTY or WIDOWS AM
ORPHANS TABLE SHOWING THAT THE NANAapp.
EVEN HAVE PEW sHAHEs.
Ii is popularity supposed that the shares Of
bank stocks owned by large capitalists. Thls how
ever, Is far from being When bank Is first organ,
lied s shares generally subscribed for by larger 90
smaller capitalists but in few years, from death ana
other causes. the shares become distributed 10 hers
the widows and Orphans-sO that IL may be said tina,
the majority OF bank stocks Is held by widow,
and orphans. and this property they depend
for their subsistence Probably other property tepd
much In this direction bank stock. George 9 Coz
President OF the American Exchange National Bank n,
NewYOIk, in his address before the Congressional Co
mteo OF Ways and Means Feb. T. 1877 referring n
banks, said: "Their stockholders consist largely NJ
and dependent persons The ayerage aDoun,
owned by each stOckhOlder "a 5000. The stockhode
of these banks not a body OF capitalist b,oa,es
stockholders any other odious term They are mostly
people in moderate crcum Stances who have saving. Il,
the bank to the average amount OF OOO and Thea
people cannot live in this exhausted state Of iIengs
unless they get something OF stock They a,n
TO us with agony and with tears, Give us a dividend
Draw 1t from your The reserves were made
for diydendsP Aud we by necessity respond. w.
must do IT. And we have done It, say that our lpstL
tutious did earn the dividends which they have do
carcJ but they paid them out Of their reserves because
they could not help responding TO the agonies OF tho
stockholders and TO the necessities OF the case
l.. r.. Rollins President Of the Centennial National
Bank OF Philadelphia bore similar testimony his adj
dress before the committee. He remarked that
there is popular and prcudcia error a. to what con-
stitutcs bank Most think Of as unit OF surplus
wealth, at most little knot OF large capiia,st,
which, with perfect propliety. can be loaded with m
mense and unequal burdens. kfhey rarely eut /.
mp into shareholders ana deposItors and learn
how very widely such burdens are distributed
They fail to that the banks are but
the agregaOns OF the moneys OF hundreds of thousands
Of persons in moderate circumstauces-in no small
that of widows and orphans. or the 800 stock
holders OF Of the National banks In Newark more
than 300 There pos i36 shareholders in
the National banks of the country, and OF these l0l97C
than onc-half-have each an interest greater
than ~ 900. Most Of these banks are IN the
Eastern States and there IN proportion 10 their pop
untion is the largest number OF National banks. The
amount OF stock held by each shareholder IN
National bank in those States IL Just S2.IO0."
An OF the January dividend books OF the
banks OF his city will confirm the above assertions "a
will show that the managers OF the banks DO not
themselves often hold more than a very small fraction
of the stock OF the banks which taey preside The
following tables exhibit the capital Of The AZ National
banks OF this city, the par vaue OF each share the num-
Der OF shares owned by the presidents, yccpresdcnts
and Cnshers the number OF shares owned By zee other
dircctors-nOt including the officers and cashers-the
number of shares hod by the general public and the
number O persons holding shares each OF these National
banks, according to the Official returns made the irst
OF The NJ year Some OF the baEks have no wee.
prcsdrs, and few Of the directors are not stock.
holders: