INCREASED CAPITAL
WEALTHY AMERICAN BANK. CONCESSION TO STOCKHOLDERS. (Rec. 5.5 p.m.) New York, March 24. One of the largest pieces of the internal financing of American banking institutions is indicated in the National City Bank's announcement that it will increase its capital stock from 75,000,000 dollars to 90,000000 dollars. Each share will be issued and sold to the present, stock holders at 400 dollars, and as the shares of the National City Bank are now selling on the open market at 840 dollars each it will mean the distribution of many millions to present stockholders. Moreover, the bank with its combined capital and surplus of 235,000,000 dollars will far exceed the wealth of any private banking institution in America.—A. and N.Z.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ST19280326.2.70
Bibliographic details
Southland Times, Issue 20446, 26 March 1928, Page 7
Word Count
121INCREASED CAPITAL Southland Times, Issue 20446, 26 March 1928, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Southland Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in