Show A FIND GROUP GROU P it NI WIN widespread t 10 I 1 4 13 billion dollars of bank 1 sets in affiliated systems inhering 1850 members early every state sr banks with more than en billion dollars in resources iowa down to be associated with chain iki roup banking systems in tb the id A states in facts recently gath by the economic policy commis bf the american bankers asao arf it the chairman ot of the com coin ion R S hecht ot of new orleans ed out that the facts acts indicate that bet 7 per cent ot of our banks and 18 per cent ot of our banking retes resea are in the great net ot of group hain banking that now covers every part ot of the country is ie commissions facts comprised a and group group basking banking affiliations in broadest sense ot of the term the re saida Bald baluthey they included those groups chich the controlling element was waa irti cular bank there being reports instances of 0 this class clasa involving banks and about in irined banking resources they eded aided also groups in which a non klag king holding company not sub iry ary to any particular bank was in arol and of 0 this class 28 ini instances e found involving banks and oly irly in resources the fart rt also included groupings in ich control was exercised by in idna persons and these cases numbed involving 1071 banks banke and ut in ili assets the totz total figures rhe total was avor in gregath some ot of the ms as comprised EG 56 to banks each sad ad offices ot of the groups were found all jurisdiction but nine of the atis and the district ot of columbia we owe have not included in these fig ei ea the report says banking coups in which a commercial bank a u net s t company and an investment aue ouse and bank re ie tied together by some f form orin ot of lock holdings and operated as corn com elementary le elements in an ot aniza fon on rendering comrie te financial CB we bava held that such groups is ie similar to a departmentalized bank ad different din erent in the purposes and ov op orations rom from a chain or group bank ng J system t for purposes ot of the present report ke ire dene chain or group banks as ays bems lems b in which centralized control P r corporate or personal and informal directs the me aher rigid or aher or p operations pe rations ot of two or more complete banks not functionally complementary each working on its own capital and under its own personnel and located la in one or more c cities or states i 1 commenting on oie ae question whether the rapid development of 0 chain ranking banking was wag in the nature ot of a deac atlon ion against to restrictions frictions imposed on oa branch bank banking ing by the banking laws SS cu many states the report says saye that observation does not lot wholly confirm chain banking Is I 1 athla this theory since where virtually states prevalent in some goma no restriction Is imposed impose d on branch banking as well as in those establishment ot of branch where the tanks banks is prohibited prohibit eol it adds the question 01 0 branch banking however the facts do show that anti branch banking laws have been a factor in some cases and probably in some ome sections in the spread of chain banking instance have come to our attention where expansion along chain carried out nut by been bank lines has tate state banks whore o expansion along branci branch blink lines was stopped by the pasting passing of 0 state laws prohibiting fur UP ther branches yet whether expansion would lave been long along branch bank lines it the laws tad imposed no bar it Is impossible to say there developed banking is I 1 obviously a well sections ions that the chain opinion in 60 tome me bank method bringle to outlying banks bank the strength and efficiency ot of a bit big organization without depriving them of at their local individuality indle idu allty and sympathies in view 01 the mixed factors noted we teel feet it lc Is unsafe to general ize its as to what bearing branch banking laws have on chaan developments the rece recent at era ot of rapid chain bank developments has haa found specific re legislative action in some state i control alon tending to restrict or banking also we flud find chain or group difference of opinion among 1 ft sharp who have commissioners state bank regarding expressed their sentiments chain banking foreword to the report issued IVL 11 a at association in booklet form LY lr the its ts NEW nev york city that headquarters the eco chairman hecht does not commission policy cacy ot of or in opp stand in e ao take a of concentrating method to this new position through ali terouz cent rating bp banking aking resources resource limitation affiliation of banks into groups and the as a a tac fact offering gimpio chains but is 1 believe is 1 the what we body finding first complete nat national lonal picture ot of this rapidly growing |