Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-20
BANK RESOURC ES GAIN RAPIDLY
AS LIST OF MERGERS GROWS
Investment Trusts Multiply and Become
Increasingly Important in Influencing
Trend of Stock Market.

any length OF time. Many brokers do
not hesitate to give advice to the GUS
toner and this Is nearly always to buy
this or that; for those who sell are rare
it is the bulls that pay the commits
sions There are other brokers who will
not give positive advice-they know adj
vice is loaded with T. N. T., so they
formation available and insist that he
make his own selection. Many room
traders simply follow the market trend
from day to day.
And there are now between 200 and
800 investment trusts in position to
do an enormous business.
II the response to the appeals OF the
investment trusts is as generous as they
have a right to expect, it will, before
on the business Of the out of town
stock brokers. It Is not so long age
that w. B. Hibbs & Co., John L. Ed
wards & Co., Hutton g. Co., with Bowie
Chapman as manager, were doing all
the business of Washington, D. c.
Today there are probably twoScore
brokerage establishments here. It IL
possible that the evolution in trading
may reduce the number again.
Banking Up 70 Congress.
It Is reasonably safe to assume that
there will be an airing Of financial sub
jects and proposed changes In the laws
at the regular session of Congress.
There will be bitter opponents for
every proposition advanced. State
bankers will fight for their business
even though the record Of the past few
years would seem to warrant a change
In methods.
The holding corporation for bank
stocks suggested by the controller Of
the currency has been knocked in the
head by the State bank section of the
American Bankers Association, while
chain banking, in times past, has proven
dangerous, one weak link sending the
entire chain to the junk shop.
272 Banking Chains.
Despite this fact there are now ex-
istant 272 banking chains, involving
1.724 banks, with resources Of $12, $780,
10000.
r. S. Hecht. president of the Hiber-
nian Bank g. Trust Co. Of New Orleans,
commenting on this fact, said:
eff there are now approximately
$4,000 banks in the country with re-
sources of $72,000. 900 o00,. these fig
ures indicate that over per cent OF
our banks and II per cent of our bank
ing resources are enmeshed in the great
web OF chain banking that now covers
almost every part of the country" the
Hecht report declared.
"Of one class or another these chains
are revealed by our ngures In all but
9 of the 48 States, and as to these
nine our information Is chiefly negative
and we cannot say positively whether
there is chain banking going on or there
is not"
At present in chain banking. Min
nesota leads, with "a chains embracing
$50 banks, with $808, $50, 900 resources,
many States showing around SO chains
Branch banking is permitted In but
II States and bankers in other States
are uneasy and anxious for the benefits
that have attended the operation OF
this system.
The Northwest section and the South
ern States are on edge for improved
banking facilities that will prevent the
oft recurring bank failures like those
Of the last few years.
Big for It's Age.
The Commercial National Bank was
IS years OF age on Saturday. In that
snort time It has grown to one Of the
largest institutions in the city and is
now going strong. It has always been
in high favor with business men and
the public generally and has enjoyed
its greatest success under the admins
tration of r. Golden Donaldson, the
present executive.