Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-23
FEW PEOPLE HOLD
bulk OF STOCKS
80 UIHH " NVHuNk
Mccoy, U. S. Treasury Aotu-
airy, Shows Who Owns Most
of Leading Securities.

The popular conception that the bulk
of the stock in American corporations
is owned by vast army of millions
Of Americans throughout the country.
is labeled q myth in figures supplied
by Joseph Mccoy, actuary of the
United States Treasury Department, to
Golfers Weekly. The great bulk of
all the existing corporation shares, Mr..
Mccoy shows, is owned by $4,000 indi-
viduals
In 1928 the Treasury reports that
81, 800, 100000 was paid out by corpora
tions in dividends to individuals. OF
this sum, the Hillionaires collected less
than 10 per cent, to be exact, $685.
100000. People with incomes under
$4,000 yearly collected less than 5
per eent-&l45, 0d0, 900.
The great bulk of the dividends-
some $S,762 600, 000-was collected by
$4,000 persons who were not million
aires, but had incomes of more than
$4,000 yearly.
100000 Get Dividends.
Raking through tax returns for 1913,
Mr. Mccoy finds some 100000 stock
holders in corporations which paid divi-
dends. But only $4,000 of them had
holdings large enough to be Of any
significance.
Aside from individuals, there was
another $4,000, 000, 900 collected by cor
porations which own stock in other
Observation-Disclosures trusts, hold
ing companies, finance companies, in
surance companies, etc.
The mistake of those who declare
that there are is or 20 million Amer
leans who are stockholders arises from
tan ant flznf "A aAt tab 1rakA
account the duplication of shareholders
in various companies. One person may
own stock In dozen corporations
There are SONS individuals who actually
own stock in 500 or more.
Shareholders On Increase.
The number of shareholders, how
ever, has been growing, And it has
grown q little more rapidly since the
market collapse than 1t did in the
preceding year, Last Fall, when speeu-
laters were scurrying In panic from the
market, hastily flingiHg overheard the
stocks they had bought ct top prices,
the se-ealled sucker public was ap-
parently following close behind, picking
up the pretty bargains they were un-
loading as they fed.
For three weeks after the market
crash the Radio Corporation was kept
busy registering new stockholders ct
the rate of 900 a day. General Motors
was registering them at 1900 a day.
Most OF the large well knewn eerpera-
tiens were having similar experiences.
One result of the stock market crash
has been to increase the number of
stockholders in mest of the better
corporations.
American Telephone and Telegraph
had 456, 900 stockholders before Nevefa-
Der, 1929. BY the end Of the year 1t
had added $4,000 more, Since then
it has accumulated another $4,000
Some Unusual Gains.
United States Steel had 10000
stockholders before the market crash,
A year later it had $4,000. Standard
Oil Of New Jersey had $4,000 before
the collapse, but six months later it
had 101 900. In six weeks the Simmons
Co. stockholders increased 20 per cent,
Woolworth stockholders almost doubled.
StudebakeF stockholders increased from
$4,000 to $4,000, National City Bank
from $4,000 to $4,000, Commonwealth
and Southern from $1,000 to $4,000.
The day of the panic Packard Motor
had $4,000 stockholders. Six Weeks
later It had $4,000. While the price Of
Cities Service was dropping from SO to
90, some $4,000 additional persons
bought the stock. After two months OF
market decline the Pennsylvania Rail-
road found it had $4,000 new shares
holders.
Records of other corporations show
that as the spectators huFFiedly move
cut, the investors move in.