SOURCES OF BROKERS’ FUNDS

BILLIONS
oF &
5

f

»
Ny

£

{

KR

1.0

3 5

30

> 8

2 0

].5§

YM

rm a

]. r

3. X

1926

1927

1908

1929

~o
.
: 3%
fe

CHART 25.~—The long bull market was largely sustained by the
Dew banking business improvised by “others,” chiefly corporations
that had piled up loanable funds out of earnings or the proceeds of
[EW Security issues.

2A