Business & Finance: Billion-Dollar Concerns

The U. S. has already developed railroad, utility and industrial corporations whose resources have passed the billion-dollar mark, but, except temporarily, no American bank has until recently broken into the "billion-dollar class." Now, however, the National City Bank of New York, with resources of $1,027,000,000 in June 1924, has entered this field alone among our banking institutions.

For a time during the 1919-20 boom the National City was a "billion-dollar bank." In June, 1920, in fact, its resources had climbed to $1,077,000,000. Yet at that time all 'banking was obviously suffering from inflation. Four years ago, when the National City established this...