Publisher's Synopsis
Excerpt from Annual Report of the Commissioner of Banks for the Year Ending December 31, 1949, Vol. 2: Relating to Trust Companies and Certain Other Financial Institutions
Reports of earnings and profits submitted to this department at this time include operations for the calendar year 1949. The combined net operating earnings of all departments of trust companies increased substantially both in 1948 and 1949. A large reduction in net profits before dividends was sustained in 1948, a loss that was partially retrieved in 1949 but is far below the profit figure attained in 1946 and earlier years when the securities market was strong and losses from loans to business were comparatively low.
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