THE CHANGING ROLE OF BANKS IN THE MARKET FOR EQUITIES.

The article looks at the changing role of banks in the equities market. Observations on the nature of personal wealth and the U.S. economy are used to make conclusions on stock ownership. As a result of developments such as the Smathers-Keogh Law and internal gains in efficiency through further development of collective investment funds and interbank participations, the author predicts an increase in the rate of growth of personal trusts. The nature of the wealth of people purchasing trust services is notably reflected in the growing proportion of equities in the assets of bank trust departments.