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The Control of Savings and Loan Associations

Published online by Cambridge University Press:  19 October 2009

Vincent M. Jolivet
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Extract

The control of profit-making corporations long has been the subject of investigation and discussion, and in recent years same of this interest has shifted to the control of corporations by financial institution. Very little attention has been paid to the control of mutually-owned fiduciaries. This article reports a preliminary investigation of the control of associations in the savings and loan industry.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 1 , Issue 4 , December 1966 , pp. 58 - 71
Copyright
Copyright © School of Business Administration, University of Washington 1966

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References

1 Probably the best known work on the subject is The Modern Corporation and Private Property by Berle, A. A. Jr. and Means, G. C. (New York: Macmillan, 1932).Google Scholar

2 See, for example, Baum, D. J. and Stiles, N. B., The Silent Partners (Syracuse University Press, 1965).Google Scholar

3 Computer sales for 1965 were estimated to be $1.75 billion (“Computer Installations to Rise ….”, Wall Street Journal, October 26, 1965, page 16Google Scholar). Savings and loan dividends exceeded $4 billion in 1964.

4 Data on the savings and loan industry were obtained from the 1965 Savings and Loan Fact Book published by the United States Savings and Loan League, Chicago.

5 Rules and Regulations for the Federal Savings and Loan System (with amendments to July 15, 1965). Federal Home Loan Bank Board, Washington, D. C, page 9.

6 Ibid., page 9. (Underlining mine.)

7 3O.20.010 Laws of the State of Washington Relating to Organization, Management and Supervision of Savings and Loan Associations, 1963.

8 Typical titles of the respondents were Vice President, Assistant Vice President, Assistant Secretary, Loan Officer, and Branch Manager.

9 D. J. Baum and N. B. Stiles, op. cit.