The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-11-30
These Powers in Conjunction
With ]. PierpOnt Morgan
Plan to Control the Currency
System of the Country
BY CONSOLIDATION
Union of the National City Bank
and Third National
Was the Initial Move i'm the
Gigantic Scheme.

New York, Nov. 30-In the supreme
court application has been made for
an injunction restraining the officials
of the United States bank of this city
from delivering any of its assets,
stocks, bonds or securities to the Ma
tiOnal City bank. The injunction is
asked for in the ordinary course of a
legal procedure instituted by Henry NJ.
Potter, who seeks to recover $4sOO0,OOO
from the United States bank
This is all that appears upon the sur
face but it is said that the underlying
purpose of the people represented by
Mr.. Potter is to block the progress of
a gigantic combination or trust, whose
object is nothing less ambitious than
to secure absolute control Of the ma
tiOnal bank system of the country and
thereby to dictate the financial affairs
OF the nation.
The Organization Of this stupendous
financial combination are the magnates
Of the Standard Oil and Sugar trusts.
reinforced, it is said, by J. PierpOnt
Morgan, Coils p. Huntington, DIR. ].
H. Parker and General It. n. Hubbard,
who together control the affairs of the
great Mark Hopkins estate.
The process of consolidation and ID
-sOrption employed is the same that the
ROckefellerS, SearleS and 6aVemeyerS
used in securing mOnOpOl1es of the pro-
GuctiOn of petroleum and sugar, and
that J. PierpOnt Morgan has employed
road combination. The projected con-
soidation of the United States Nation
al bank by the Western National bank
is the second move in the tremendous
scheme.
The phenomenal increase of the vol
une Of deposits and business transact
ed by the National City bank following
its absorption OF the Third National
bank was the first thing that attracted
the attention of the banking world
This was out of all proportion to the
farrr- E IL 1,ear.
ported that on November % the Ma
tiOnal City bank had Sill 600 600 in de-
pOsits in it's vaults or represented by
certificates of the clearing house and
the sub-treaSury.
Conservative officials of other banks
were bewildered at the first and then
frightened. They openly said that this
unaccOunUabl concentration of funds
in one institution was dangerous-that
1t threatened to injure other institu-
tians ana disOrganize the existing con-
ditions of the exchange and banking
business They looked for the cause of
the National City's wondrous prosper
ATTY and unaCcOuntable rise from an in
conspicuous position near the bottom
of the list in the monthly reports of
business done, to the head of the col
umn and, looking with the practiced
eyes Of men who estimate the value of
supply and ready cash, as the provision
brokers consider the visible supply of
wheat or ribs they found it-fOund it
in the tailsmanic combination of the
standard OIL, Sugar and Morgan.
A battle for their very existence con-
1ronted the officers of other bank inSti-
tutiOns and they got together, it is
said, for mutual defense The first
move was naturally to prevent the con-
sOlidatiOn of the United States Nation
al bank with the trust dominated
Western National bank. Both of these
deals had been made and nothing could
be done on that line
Grounds for an injunction were then
looked for and found in an old case of
the sale Of some collateral securities.
4 learned several days ago" said At
torney ChetwOod yesterday that the
United States bank was about to dis
pose of its assets and to consolidate
with the Western National bank and
decided upon prompt measures"