Flight From Bonds to Stocks 215 
ing companies differ radically from the true invest- 
ment trusts in that their function is to manage the 
securities of the companies which they hold, which 
means that they fix the policies of those concerns. 
Their holdings, therefore, are “frozen” while the 
holdings of a general management trust are liquid. 
FINANCING ey INVESTMENT TRUSTS AND 
TRADING AND HOLDING COMPANIES 1929 
RA 
LOO 
SOURCE! 
COMMERCIAL & FIN. CHRONICLE, 
LOC 
yy 
MILLIONS OF DOLLARS | 
yo 
HET Oricon. 
JAN. FEB. MAR APR, MAY, JUN. JUL. AUG, SEP. OCT. NOV. DEC. 
Cuarr 23.~The classification of “Investment Trusts” on which 
the Commercial and Financial Chronicle bases its figures is not to 
be identified with the stricter classification bv Leland Rex. Robinson. 
— 
[n addition there are investment companies that are 
likewise sometimes called investment trusts. There 
are finance companies, also, that are sometimes called 
investment trusts, although they are promotional 
companies and manage the concerns in which they 
are interested. Even financial trading companies 
which answer to the term of “blind pools” have at 
times assumed the name of investment trusts or have