Branch Banking

Interstate branch banking is not yet a fact. Many a U. S. citizen however believes that it soon will be. Of these none believes more devoutly than Mr. Amadeo Peter Giannini, president of Transamerica Corp. Ample proof of his belief came last week when he announced his intention of increasing the number of Transamerica stockholders from 135,000 to 500,000. One million shares were authorized. When or if interstate branch banking is allowed by Federal law Mr. Giannini will have paved the way for branch banks in many states by having stockholders in many states.

Most famed of the banks which Mr. Giannini's Transamerica controls are California's Bank of Italy, Manhattan's Bank of America. Total assets of Transamerica exceed $2,000,000,000.