Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1930-02-06
BANKERS FIND GROUP
BANKING WIDESPREAD
Over 10 Billion Dollars Of Bank
Assets in Affiliated Systems
Numbering 1850 Members
ln Nearly Every State.


Over 1850 banks with more than
thirteen billion dollars In resources
are shown to be associated with chain
or group banking systems in the
United STATES In facts recently gath
cred by the Economic Policy Commits.
sion OF the American Bankers Asso-
ciat'on. The chairman OF the COM
mission. X. s. Hecht OF New Orleans,
po,hteu oa. 'nat 'iie iae's ihaicu.e Una,
ovar 10 nar oan, =, a,r han,.,mo ~
sourcas arc In tho Gran, NOT ~ sro,n
Nv ch,tn h,nn,na mot non, oorona ai
most. avery mart a, tha conntrvn
rho commis,,on,, ,acts oomrr,soa
chain mud groun banl,ng ,a,I,,tinn. a,
.be hroadest sensa a, tho term tho ro.
mort ssid Tbev included those yrorn.
IN which ,ho cortro,,,ns a,amant mas
a nart,cn,ar hank there being ranort.
Cd 70 ,rot,rcoo ~ mi. o,oss iryo,rir,
AO7 banka and about "a 47a nm nm In
combined hanging resources Thev
sncIudad, also yrouna In which n non.
bank,np boIdiny companv NOT suh.
s,diarv To anv narticular hank was in
contro, and NJ this cIass % INSTANCES
were fonnd. involving aso hanks and
NEARLY az ass nm ooo In resonrcee Tha
seport also included rrouninps in
which contro, was exercised nv In.
div,dpo, nersons and tbese casas num.
horod 1eT iryolv,nr o71 b,nts and
about 81 aes nm nm In ascot.
r.. -o..,r ,.,u
me totai was over siS'1io'oVV,VVo IN
aggregate resources. some u the sys-
TENS comprised ao TO IoV banks each.
Head ohces OF inc groups were louhd
IN all ,urisdictlons' out nlne Oh the
states ana the Dlstriet OIL ooiumpla.
we nave not included IN these hg-
nres' the report says, bahklhs
groups In winch commercial oank'
trust company ana an investment
mouse, ana sometimes savings pank,
are tieo together by some form OF
stock holdings ana operated as COM
Elementary elements IN an organiza'
ton rendering complete hnahcial serV-
ices. we nave held that such groups
are similar 10 departmentailzed DanK
ana ulne,ene ~ 1ne pul poees anu or
inc avstam
.For nurnoses of the Dresent renort
No define chain ar rroun hanks as sys.
TOMS In which centralized control
whether cornorate or nersonaI and
a,ther r,pid or informal d;rects the
nrarot;ona az two ar mora comn,ate
banLs moi frnctionallv comnlemen.
torv eocb worting IN ,ts own canitaI
.nd ,rder nc own nersonne, and In.
catad In ono or more cities or states y
commonting IN The question whetb.
A. tho r,n,a dave,onment a, chat,
horr,nr Vac IN tho nature Of n reac.
tion oea,nsf restrictions ,mnosed ON
hxa,o,, ,onr,ro hn tho hort;ry law,
a mony .totes the renort saws that
ah,arvot,an doas mn Wholly confirm,
.h,. theorv s;nca chain hanging "a
nroyo,ant IN some states where yir.
,ro,,y M rertr;ct,on ia ,mnosad on
s.,no,, h,,,,,rr a. mol, % In tboso
,.hara tho esta hIi,bment Of branch
hanLs ,s nrohihited n adds.
ne eSs'o" ~ CIV" ~
However the Facts do snow that
nnti-branch banking laws nave peen
factor IN some cases. ana prooapiy IN
some sections IN the spread OF cnan
banking, instances nave come 10 our
attention where expansion along chaln
BANK INES mas Deen carried oue Ny
state banks whose expansion aions