Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-26
PURCHASE OF BANK
STOCKS INCREASES
Holding Companies Are BEING
Organized in All Parts
of Country.
BY JOHN F. SINCLAIR,
Special Dispatch to The Star

Special Dispatch to The Star.
NEW YORK, December 26.-Holding
companies to control bank stocks are
springing up in different parts of the
country. The Bancohio Corporation
OF Columbus has acquired over 80 per
cent OF the shares of the First Trust
Co., the Ohio National Bank of Colum-
bus and the Fifth Avenue Savings Bank.
And in addition to this, over 95 per
cent OF the shares of the First National
Bank & Trust Co. of Springfield, Ohio.
have been exchanged for Bancohio
stock. This corporation has also &C
quired SO per cent of the shares of
the First Citizens Cooperation of the
Ohio National Corporation, investment
security subsidiaries of the First Citi-
zens' Trust Co. and the Ohio National
Bank
It Is still relatively a small institution
with resources of approximately $685.
100000. But is is expected to expand
and enter the hundred million dollar
class in 1880.
H. d. Ivey president of the Citizens
National Trust g. Savings Bank of Los
angeles, 1ntimates that one of the
larger Eastern banks may enter Cali
iornia In 1880, establishing branches
in that State.
The Wisconsin Bank Shares Corpora
ton, with is banks in the City of Mil
waukee and 8 banks in the State out
Slde, has total assets now in excess of
$500 900. 900. 1t is being opposed by the
LaFollette group in that State.
The year 1880 should clarity a great
deal the bank situation, now that the
controller of the currency has come
out in his recent annual report in favor
OF branch banking.
The life insurance presidents have
TO-
nounced in the public press many inter-
esting figures. They have stated that
the total insurance in force with Ameri-
can companies Is now well over one
hundred billion dollars.
Although the United States contains
but one sixteenth of the worlds pupu-
lation, this great sum, equal to $40 for
every person in the country exceeds
twice the aggregate outstanding life
insurance in all Of the rest of the world
| combined.
But in these calculations one should
not forget Canada. There some of the
most aggressive life insurance com.
panies in existence have their head
| quarters. The Sun Life of Montreal is
a sample. It is the largest common
stockholder in some of the most impor-
tant corporations in the United States.
The investment trend of insurance
I NOAAkoAAHCo IAc@kACo a 1lCdNJ 6uUJGCt IOI
study. Insurance assets are growing
| now at the rate of more than $120,000,-
600 month. How will this great fund
| be invested? Four millions of dollars a
day! And another 81 900 900 a day for
reinvestment! Eight million a day
what would you invest it in so as to be
safe so or 100 years from now2 Not
SO easy to answer.
Common stocks represent an ex-
/ trnY1aalHy small Of 4oNo a.,
vestments of life insurance companies.
1t Is estimated that in 1928 they
amounted to $232,000,000 for all life
| insurance companieS-leSS than
per cent of the admitted assets. One
insurance official has estimated that If
the expansion in insurance which has
taken place during the last 10 years con-
| tinues over the next 10, it will require
the companies to invest an additional
| $25 900 10000 in the worlds business
activities.
The day may come when the in
surance companies will exert a more
powerful influence over business than
the banks themselves.
Canada's export trade activity, In view
of the size of the country is remarkable
For the IL months ending Novem-
Der 80 Canada's trade totaled $685.
$1,000 slight decrease over the pre-
ceding year; to be exact, q decrease Of
S26, 269,000 This is accounted for, how
ever, by the lighter wheat shipments,
which naturally pull down the total ex-
port figures.
But that business activity in Canada
| was at a high level is indicated by the
advance in the value of imports from
81 ,210,959, 900 in 1928 to $1,000 ,248, 900
| in 1929-an increase of almost $780,
100000.
No other country in the world APP
proaches Canada in the value Of its
per capita export trade.
Bernard Shaw is always saying the
arresting. unusual thing. That's why
he has the world for an audience. So
when recently he was asked how he
would prevent war, he stated his war"
philosophy in just seven words: stop
fighting; that is the only way"
Recently in answering series OF
questions for an important news agency
he showed a tremendous grasp of world
conditions, and carried over into more
dull subjects that brilliancy of express
sion, which he possesses to such re-
markable degree.
But he is not great admirer Of the
Kellogg peace pact, for he believes that
it gives each of the parties a chance
to make war in self defense" AS
CNCAS AdIAOAl SllNGA hi6 % WRA eNAW6yo 6SCo
in to defend the country's honor, such
loophole is very serious one, he in
Sists. The Covenant of the League of
Nations left no such loophole and for
that reason Shaw believes it to be q
superior document-for the advance
ment of world peace.
Above all, this able and brilliant
Irishman keeps his feet on the ground.
No modern writer is better business
man than Bernard Shaw-now past 20
and rich.
(Copyright, 1929, North American Newspaper
Alliance.)
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