The Reader's Digest - Do You Bind Your Copies? - Giannini, Banking Colossus

Sep 29, 2026

Upload by Eliana

The text contains two separate magazine pieces from The Reader's Digest. The first answers readers’ questions about whether to bind completed past issues or file new ones, recommending the Reader's Digest Binder and providing supply, pricing, and publication details. The second is a condensed biographical feature on A.P. Giannini, describing his rapid expansion of banks and investment holdings, his business impact, and his personal background and governance approach.

LanguageEnglish

CategoryLiterature

FormatPDF

Pages68

Reading Time1 h 45 min

AccessFree to download

Do You Bind Your Copies?

The Reader's Digest Binder

Giannini,Banking Colossus

7:7 # Do You Bind Your Copies? WITH the beginning of the SeventhVolume of The Reader's Digest,of whichthis issue is the first number,many readerswill wish either to bind the completed pastvolume(ending with the yearly Index in theApril issue)or to file each issue of the presentvolume as it comes to them. IThe Reader's Digest Binder is of the mostapproved and convenient pattern,takes sixcopies,opens flat,and holds each copysecurely while permitting any single copy tobe instantly filed or removed without loosen-ing the others. It can be supplied for $1.50 postpaid andis returnable if unsatisfactory. Published by THE READER’S DIGEST ASSOCIATION,Inc.Pleasantville,New York EDITORS Lila Bell AchesonRalph E.Henderson De Witt Wallace Published Monthly,25c a copy;$3.00 a Year;(Foreign,$3.25)Two-Year Subscription,$5.00(Foreign,$5.50)(No extra charge to Canada) Entered as second-class matter,at the Post Office at Pleasantville,N.Y.,under act of March 3,1879 Additional entry at Post Office,Concord,N.H.Copyright,1928,The Reader's Digest Assn.,PRINTED IN THE U.S.A.,BY RUMFORD PRESS,CONCORD,N.H. # Giannini,Banking Colossus Condensed from Forbes Magazine(March 15,'28) B.C.Forbes A人.P.GIANNINI,banking colos-California,has far more depositors thanA sus,has reached his long arm any other American bank,approxi-mately 1,300,000.And he is almostand seized control of the 116-year-olddaily buying up additional banks,pay-Bank of America,making him master ofing therefor prices which Caiifornianmore banking capital than any otherbankers describe as unprecedentedlyman in America's history.His ambi-high.tion,I am authoritatively informed,is toThe rise in the Giannini bank stockestablish a towering financial institutionquotations has been phenomenal.Morein each of the 12 Federal Reserve Bankfortunes have been reaped in them thandistricts and to acquire a liberal number.were reaped from California's goldof branches tributary to each of the 12..deposits in 1849.So rampant is theHe also has his eye on foreign fields.mania for speculating in them thatHe has operated for some time on amany millions of Eastern money arevery large scale in San Francisco andbeing loaned to California speculatorsLos Angeles—his Bank of Italy hasat exorbitant rates of interest—from 11about 300 branches in California;he hasto 15 percent.controlled sizeable banks in New YorkCity and now will be in a position to ex-tend his hold very greatly;he is invadingChicago and doubtless will lose littletime in effecting a foothold in otherleading cities. Mr.Giannini deprecates such action.He has issued several statements thatthe shares of his institutions were beingcarried to unwarranted heights.Notlong since he frankly urged holders notto borrow money to buy or hold them.Also,he gave warning that the profitsmade last year,over $30,000,000 by theBancitaly Corporation and $20,000,000by the Bank of Italy,were unusuallyhigh,and might not be duplicated.Despite all this,on the California StockExchanges the Giannini stocks almost Through his Bancitaly Corporation,a holding company,he has quickly builtup the most gigantic investment trust,mostly for bank stocks,in America.His Bank of Italy,organized in SanFrancisco in 1904,and which now hasbranches dotting the entire State of monopolize popular attention.Enthu-siasm has not been chilled by the refusalof other banks to accept the Gianninishares as collateral.On the New YorkCurb Bancitaly frequently is one of themost active issues.Merchants in Cali-fornia,especially San Francisco,com-plain that the desire to buy Gianninistocks is so keen and so widespread thatbusiness has been distinctly affected. What manner of man is A.P.Gian-nini?I happen to have known himrather well.His vigorous reaching outfor branch banks in California first metfierce opposition,first from other bank-ing interests and later from State offi-cials.Giannini gave warning to hispolitical foes,incited by financial inter-ests,that if they insisted on

FAQs

What should readers do with past and current issues of The Reader's Digest?

Readers may either bind completed past volumes, which end with the yearly Index in the April issue, or file each present volume issue as it comes. The text specifically addresses the choice and timing of these actions.

What is the Reader's Digest Binder described as providing?

It is described as an approved, convenient pattern that takes six copies, opens flat, and securely holds each copy while allowing any single copy to be filed or removed without loosening the others.

How does the article characterize A.P. Giannini’s influence in American banking?

The article portrays Giannini as aggressively expanding control of banking capital through acquisitions and a banking-focused investment trust, with major impact on bank stock activity and broader financial developments.

Sep 29, 2026

Upload by Eliana