The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-02-26
STOCKS
HIGH CLASS
BY RICHARD HATTON

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II Is well.known fact that the
banks Of washington are prosper
GUS institutions. that they reflect
the prosperous condition OF the com.
rnunity, that they are safe and
sound and that there is nothing
much better in the investment line
A than local bank stocks properly SO.
lected
In connection with the develop
lnent Of financial institutions here
Il Is of more or less interest to
know who owns the banks.
The question of who Owns the
Banks?" is answered in a leafIet
published by the District of Column
bla Bankers Association as follows:
The real ownership Of almost
any bank Is not In one man, or q
small group Of men, but In hum
dreds, often thousands, Of stock
holders.
Bank stock is usually issued in
shares OF 500 par value. Such
shares are bought and sold freely.
Those Of large city banks are
traded on the local stock exchange
floor and may be acquired BY any
one.
Thus, the real owners Of banks
and trust companies are a diversi-
fled group Of men and women with
diversified interests and occupations.
There are large and small stock
holders in every banking institution,
but the holding of the average
stockholder Is surprisingly low.
For example, an analysis Of the
stock records of several large city
banks indicates stockholders own an
average of only SO shares each.
The stockholders own the bank,
their interest being represented by
the capital, surplus and undivided
profits, but they cannot claim one
cent Of these amounts unless and
until depositors have been paid 100
cents on the dollar.
The net earnings of a bank be-
long to the stockholders, and diyi-
dends are declared as justified.
Thus. prosperity of banks means
not personal prosperity for few
individuals alone. but prosperity tor
thousands"
General Chairman Lanier r. Nc
Lachlen, Of the District Of Columbia
Bankers Association annual conven.
ton has called q meeting of all
chairmen and vice chairmen Of COM
mittees and subcommittee Of the
general convention committee at
his home on Thursday next.
There will be general discussion
Of plans for the coming convention
which, already, gives assurance OF
being the greatest event Of the
kind In the history Of the organi.
ration. ,s
The sixty-seventh annual state.
ment Of the Equitable Life Assur.
ance Society Of the United States
published today, shows gains in all
important items.
The assets on December, 81
totaled $S69, 604,876 an increase OF
$77,200,000 over 1925, which is the
largest gain ever made by the
company. During the year the
outstanding insurance reached $5,-
O67.s65,oOO.
The dollar volume Of business
during the third week OF February
as measured by check payments.
was larger than i'm either the pre-.
ceding week or the corresponding
week of 1926, according to the De.
partment of Commerce.
Wholesale prices continued to
average lower and for the third
week the general average was
lower than at any time in the past
three years. Building contracts
awarded were larger in value than
either the preceding week or the
corresponding week of the previous
year. Loans and discounts Of Fed.
eral reserve members banks. al.
though greater than a year ago,
were lower than in the previous
week. g