Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-20
BY I. A. FLEMING.

Evolution! Evolution is in the air;
big business Is evoluting but noWnere
are the signs Of the times more pro-
nounced than In the banking business
and in the methods of doing business
on the New York Stock Exchange;
]. w. Mcintosh, former controller OF
the currency, came out strongly IN favor
of banks merging, urging that the in
creased capital would place them II,
better position to meet the increased
demands of O rapidly growing busl-
ness--and banks merged, merged 80 IaSt
that 1t was hard keeping track OF the
different unions, while deposits OF some
of the institutions showed enormous
amounts, resources grazing on the Dill
lions and in at least one instance pass
ing the billion mark by hundreds OF
| thousands.
]. w. Pole, the present occupant OF
| the ONCE of controller of the currency
goes his predecessor one better and ad-
vocates group banking, brother OF
branch banking, while friends Of the
latter are advocating the spread OF the
system until it passes the confines OF
! the city and actually reaches over into
adjoining States-Statewide anyway.
On the Stock Exchange the develop
! ment Of the Investment trust hat
reached the stage where they promise tC
revolutionize methods In trading-an-
other evolution.
One OF the most fetching advertise.
ments of the week was that of one Of
| the very largest Of American banks, di-
recting the attention Of the investor and
the Spectator to the grand opportunity
Of trading in stocks and bonds on the
New York Exchange with and through
the auxiliary institution afnliated with
the big bank.
Some Of the Advantages.
! Here are some Of the advantages that
| were held out as an inducement toward
the abandonment of individual effort tc
make selections from the regular list Of
to choose the time for buying or selling
more and better Information IS To
market conditions; trading in very large
amounts would be distinct advantage
over the comparatively small order OF
the individual-the necessity of watch
ing the market continuously would be
obviated and the individual would not
be going 1t blindly in dangerous mar
ket.
In q little palmer language the ad-
vertisement might be decided about a.
follows:
We offer you one fine opportunity OF
affiliation with q demonstrated winner
| This bank Is q winner: its auxiliary
| through which your investment and
speculative operations will be carried on
Is entitled to every bit Of information
all the inside stun that this bank obtains
and you have the advantage Of 1t. FIRE.
quently we are invited to participate II
large operations on which we make bis
profits. You will get your bit Our OPP
erationS are sure to be an important
factor in the stock and bond market;
and it is possible that they may &C.
casionally be large enough to influence
the price fluctuations.
You are always bull, 1t goes against
the nature of the individual trader u
be q bear-you fear to sell what you dc
not own. We may have Information
that will warrant not only liquidation
of our own holdings, but operations or
| the short side as well. And you viii
thus have the opportunity OF participat.
ing In the profits on the upgrade ar1c
bear side, something you have hereto
fore eSchewed. Our high reputation Il
or ought to be sufficient assurance tx
you or any other man or woman OF the
| safety of your investment and the SUI
perior facilities we have for making
selections from the lists Of stocks anc
bonds.
It certainly looks tempting. The In
dividual has been up against the narke
more than once II he has been TRADING