Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-10-06
BY I. A. FLEMING.

There are thousands of people VINO
are today investors in liberty anu
other bond issues who, before the
war, were entirely unacQuainted with
the nature of bonds, many unques-
tionably not knowing the difference
between a bond and share of stock.
Buyers of the first liberty loan num-
bered but 100000. For the second
loan there were 100000 subscribers;
for the third loan. 1s,sos.325, and the
expectations are that there will De
100000 purchasers in the present
loan.
This great army of bond buyers
know that a bond is secured ool-
the purchaser-that it is secured
debt, while stock investments make
the buyer a partner in the business:
This army and the children of the
investors will be the bond buyers OF
the future.
Talking of Bond Dividends.
In advocating purchase of fourth
liberty loan bonds one of the larger
tages OF the dividends on the bonds.
Dividends, he explained, were found
in the assurance OF peace for the poho
BUYERS children and the endinS LOT
all time of world wars, the hrsl aho
rarest gift possible to humanity.
Favors Consolidation.
While the controller Of the curren :
CIV has not, so far as known, mace
any public statement anent the con,
soiidation of banks for the general
STRENGTHENING of the financial system
il has been stated that he would APP
prove of any consolidation for THIS
purpose.
Americas place in the commerce
of the world may be better cared for
and interests advanced by s9rohs
banks, under the care and guidance
O. me feoeral reserve system. Indeed.
the system itself is suggestive OF the
mower and possibilities of great
central bank with branches in Var1,
Gus sections much after the method
in use in England and Canada.
Amalgamations here might meei
with the old cry of money trust;
but the fact that big banks are need
ed, that well managed banks with
great resources have been very val
liable to the government in stress ana
will be the very strongest factors IN
caring for after the war trade, and
trolls would seem to remove any
menace of the threat of a money
trust.
II. s. Rothschild of Sutro Brothers
& Co., has gone on record in making
public the belief that there should be
many amalgamations in this country
among banking institutions.
He calls attention to the fact thai
| our banking laws will not permit ma
| tional banks to have branch houses
| a remedy being in the hands of Con-
gress on a measure recommended pS
| the controller of the currency and in.
troduced by Senator Owen, but which
/ has not been adopted.
! Mr.. Rothschild calls attention, II
support of his contention, to the
| "epoch- making combinations of En-.
glish banks, where the bitterest com.
| petitors have found way to come
! together and strengthen banking re-
| sources for the inevitable after-the.
| war trade competition.
| Recently twelve London banks com
bined, with total deposits of $3.50
! 672,442. The five largest banks il
! New York city have deposits of S2,'
| I43, eO0, 900, namely, the National City
with 100000 deposits: the Guar.
anty Trust Company. with $561,0O0,-
| 600; the National Bank of Commerce
with $353,O0O,000; Chase National
with $3.50. 100000. and the Bankers
j Trust Company. with $245,000,000 de-
posts.
! Naturally the big resources give the
! combined bank a commanding posi-
ton in the world of finance and trade