¹ Heggestad, Arnold A. and Mingo, John J., “Capital Management by Holding Company Banks,” Journal of Business (forthcoming)Google Scholar. Incidentally, differences in bank size were accounted for in this study, and the data indicated that the above-cited differences are not simply due to bank size.

² The Board of Governors has recently proposed specific legislation to further this objective (S. 890 and H.R. 4008). One proposed provision would waive the present statutory 30-day delay between Board approval of a holding company acquisition and its consummation by the applicant; the second provision would allow a bank holding company to acquire a large failing bank in another state, if no desirable alternative buyer could be found.

³ At least partly, this may be a result of the demonstrated disinclination of the Board to allow the largest bank holding companies to acquire the largest firms in the bank-related industry.

⁴ Acquisitions of banks and acquisitions of existing shares in partially owned banks are excluded.

⁵ Only $58 million of that $256 million of parent company equity issues in 1972–73 was raised by sales in the public market; the other $198 million of equity was obtained through conversion of existing debt and stock option plans. Shares issued in acquisitions are excluded from these figures.

⁶ Even though some customers travel to another “market,” it does not necessarily imply that there is only one instead of two markets. The distinction between markets will depend on the extent to which long-run price differences can persist between them.