IDEAS home Printed from https://ideas.repec.org/a/cup/jechis/v34y1974i04p815-834_08.html
   My bibliography  Save this article

New York City Mutual Savings Bank Portfolio Management and Trustee Objectives

Author

Listed:
  • Olmstead, Alan L.

Abstract

This article addresses the issue of what made early mutual savings bank trustees tick. It explores two hypotheses: (1) trustees were trying to maximize their depositors’ “well-being†by maximizing the real rate of return on their banks’ portfolios given legal constraints; (2) trustees were trying to profit from their positions. These two hypotheses are tested using investment data drawn from the archives of several of New York's oldest mutuals. Besides offering insights into the objectives of early trustees, the analysis of mutual portfolios will also shed light on several broader issues dealing with capital market efficiency and the effect of legal constraints on resource allocation.

Suggested Citation

  • Olmstead, Alan L., 1974. "New York City Mutual Savings Bank Portfolio Management and Trustee Objectives," The Journal of Economic History, Cambridge University Press, vol. 34(4), pages 815-834, December.
    • Handle: RePEc:cup:jechis:v:34:y:1974:i:04:p:815-834_08
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022050700089324/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Howard Bodenhorn, 2016. "Two Centuries of Finance and Growth in the United States, 1790-1980," Working Papers id:11352, eSocialSciences.
    2. Vittas, Dimitri, 1995. "Thrift deposit institutions in Europe and the United States," Policy Research Working Paper Series 1540, The World Bank.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:34:y:1974:i:04:p:815-834_08. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jeh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.