Word: bankes
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Dates: during 1920-1929
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Among new financings of last week was an offering of $32,000,000 in bonds of Railway Express Agency, Inc. Such famed houses as J. P. Morgan & Co., Kuhn, Loeb & Co., First National Bank and National City Co. underwrote the issue. On March 1, subject to the approval of the Interstate Commerce Commission, the new organization will take over virtually the entire expressing business of the U. S. The bond issue culminates two years of effort on the part of U. S. railroad executives, particularly of William Benson Storey, president of the Santa...
Guaranty-Commerce. The largest merger rumor, persisting over many denials, related a forthcoming union between Guaranty Trust Co. and National Bank of Commerce, both of Manhattan. Should this rumor?which has proceeded to the "reliably informed" and "authoritative sources" stage?be true, the resulting combination would constitute the world's largest bank. Guaranty Trust has resources of $1,052,000,000; National Bank of Commerce has assets of $934,000,000? thus the merged banks would form a two-billion-dollar institution. Combined deposits of the banks would total $1,570,000,000. An exchange of stocks would probably...
...Bank failures in the U. S. were almost 50% less prevalent in 1928 than in 1927, reported the American Bankers' Association. In 1928-484 failures; in 1927 there were 831 banks closed. The improvement was general throughout the country. Nebraska was the only State reporting a marked increase (23 to 48) in failures. Best records were made by Georgia (90 in 1927, 8 in 1928); Michigan (from 22 to 6); South Carolina (from 51 to 12). Maryland had only one bank failure, the first in four years...
...compilation of the 100 largest U. S. banks, the American Banker revealed that 30 are in Manhattan, 11 in Chicago; that total deposits of the list amount to $20,653,618,100. There are two U. S. banks (National City, Chase National, both in Manhattan) with deposits exceeding one billion. The Bank of the Manhattan Co., expanding by a succession of mergers, has risen from 24th place to 10th within one year...
...Bank of Italy (San Francisco...