The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-02-17
Director in Fifty Institutions.

ambassador
Director in Fifty Institutions.
According to the published records
Mr. Hyde is a member of the board of
directors of nearly fifty we'll known
financial institutions Among them are
the Mercantile Trust, Equitable Trust,
Lawyers Mortgage companies OF New
York; the Commercial Trust and Frank
lin National of Philadelphia; Mercantile
/ Safe Deposit of New York. Security
Safe Deposit of Boston. and Missouri
! Safe Deposit of St. Louis These. with
1 the Mercantile Trust company, United
! States Mortgage Trust company, and
Fifth Avenue Trust company of New
| York; the Central Realty and Bond com
pany, Fidelity Trust company of Phil
adelphia, and the Fidelity Trust COM
pany and Union National bank of New
ark; Union County Trust company of
Elizabeth and the Essex County Trust
| company of East Orange, are included
in the Equitable Life-Mutual Life-Bank
of Commerce groups.
! In addition to them must be included
the First National bank affiliations,
/ First National of Chicago Chase, Lib
erty. and Astor National of New York
/ the Manhattan Trust company of New
York and the New York Life Insurance
company. Apparently nowhere else in
! the world is such a huge dominating
/ financial interest shown
Controls Some of Largest Banks.
Mutual Life Insurance company are
especially close and with it controls the
/ National Bank of Commerce of New
York one of the two largest banks in
4 the country and which has capital. sur
plus, and deposits of $1S9, ZOO. 900. These
/ two insurance companies and the Ma
tional Bank of Commerce form the cen
ter of a financial web of banks and
trust companies at various cities which
has assets and deposits of more than
billion dollars. Then there are the in
innate relations with the First National
bank of New York and its affiliations,
the so-called Morgan bank"
Influence Over $4,000, 100000.
Each of these great banks and the
First National of Chicago have what
may be called interchangeable direc-
tOrates, and the Equitable or Equitable
/ officials own stock in all of them In
the Morgan First National is found
New York Life Insurance company in
f1uence as well. so that the two groups
may be regarded as having an influence
over $4,000, 600, 600 of invested capital in
which a dominating inspiration goes
back to that $51, 900 nominal value, the
controlling interest of the Equitable
owned by young Hyde.
Hyde Power in Financial World.
Hydes control of a nominal value of
$51. 600 stock in the Equitable Life thus
dominates interests which affect 81, 000,
900 900 worth of invested capital The
800, 900 capital stock of the Equitable
controls S47S, 600. 900 of assets, represent
ing cash securities.
Fourteen shares of the stock of the
Equitable were offered for sale at pub
lie auction in New York last November
and were bought in by the owner at 3d.
600, thirty times the par value. As the
stock pays only per cent the return at
s.. 900 for a 500 share would be only
one-fifth of 1 per cent
It would be hard to guess what would
be bid for control of the Equitable when
7
six months ago Hyde. it is said, was
offered SIS, 600 900 for his $51. 900 of cap
ita1 stock Rumor went so far as to
attribute the offer to both the Standard
Oil and Gates interests. If control had
been sold for s15.O00,O0O the dividend re-
turn would have amounted to only one
fftieth of l per cent.
ssSide Lines of Equitable the @'StaIze-"
The stake in the control of the Equit-
able is not the mana gernent OF the life in
surance business alone, but the vast
financial power watch comes from the
company's control of certain banking in
of the stock of the NercantiIe Trust COM
pany. This concern has deposits of $780,
$4,000. As in the Equitable society. Mr..
Hyde is vice president of the Mercantile
Ee is also vice president of the Equitable
Trust company. which is controlled by
the Life Assurance society This trust
bined. their deposits are over s116OOO.OOO
Again. the Equitable owns 45.0oS shares
y
deposits of $50 100000 The total share
capital of this bank is $4,000 shares. The
Equitable has almost quarter interest
in the institution
In St. Louis the Equitable controls the
| Missouri Safe Deposit company In Chi
cago it owns 2 $50 shares of the stock of
/ the First National bank. while J. B. For
gan, president Of the First National, is
\ director of the Equitable.
| Scattered in different cities, the Equit-
able has an interest in twenty banks,
4 trust companies, and other banking in
stitutions. 1t has small interest in the
/ Bank # Montreal.
4 While not having a controlling interest
still in the Consolidated Gas company of
New York 1t owns stock of the par value
Of T12l 500 It is a large holder of the
stock of the Manhattan Elevated New
sylvania
The value of the real estate holdings of
/ the society is over 3S.S90,GJ0 The real
estate in New York alone. including the
ano Berlin it owns office buildings. and
In Boston. Philadelphia, St Louis and
other towns there are twelve different
! office buildings valued at S15, $50 600.
James H. Hyde has within the last year
or two had his name associated frequent
ly with Hartman Rockefeller interests
Control of the Equitable. it is presumed.
is highly desired by these people, and the
indicate the fear ON the part of the man
/ agement, other than Mr.. HYDE and one
or two friends. that the control would
pass to the interests mentioned. 1t will
the capital stock of the Equitable society
carries 4 controlling inter est in the bank
/ ing institutions mentioned and a large
influence in eighteen or twenty other
banking corporations.
/ Burns chaos sores cbas,o +avz-