The Boise citizen. (Boise, Idaho) 1906-1910, 1907-11-08


tona In the third group National Park Bank heads list OF
five banks and trust companies mostly doing commercial business
This group has followed the usual practice OF dvertng IT'S
activities commercial banking to financial banking The fourth
group combines the interests Of Messrs Morse and Henze to con-
troll half adozen national dozen banks and five or SIX
trust companies.
1T must not be taken for granted that all the New York banks
are affiliated with these groups that all have turned from com
merca banking other phases Of the science There are many
strong growing enterpsng Independent banks that are still hand
aden of commerce The Chemical National might be cited as
/ type
1T will be seen Immediately that the two real fighting factors IN
Wall street banking the groups headed by the City and the nan
over National and the group formed by the loose cooperation OF
be First National and Bank of Commerce The hrst OF these
g,n is the so-caled STANDARD Oil Group closely allied with
the financial interests of the Rockefeller family and ready IN general
to cooperae with Me Kuhn Loeb Co. in tuhering te III
terests and carrying the activities OF Messrs l. H.
lH Frk H. H. Rogers and their allies lhe second group "
iect 70 the influence and policies of Messrs T. Morgan James
I'm and the Moore clique which controls the Rock Island Im
~ like the former has its allies in the field OF private banking
e1v Messr Morgan Co., Speyer Co. and other snaHe
firms. ,osoi1a+on
nor in concentration In fact concentration IN banking was ~
as if has been the ruling principle OF the last ten years
almost every line business here and abroad II teoS
# was this principle made the Barring rm great anu
o,r1 before Lord Revelstoke formulated the herey ua'
+II No one decries concentration for itself ,,,: ;+
~ - ~ Ieen done bv the concentration OF banking inter
-; % forms above described The Stman Idea carried wiz
Iit and carries with it today quite anoueI 49, hbt of com
g concentration of banking power to carry Out W f that a.
a This second factor lies in the now undouDgu l" ~
n The banking power has been concentrated mas @ @ lrng
more diverted from commercial pursuits INTO ue ~ +o1
fter and much more dangerous pursuits known aS
financing and 9RGFFFRFNT SReeglaT94N FORMS OF BANKS.
= III 80 orI;ne tbe field covered by the term banking
- - id fe1d In the main it has three phases corlel ~ "
e banking investment banking and maca M iopal and stat
y C7ercial banking at its best III the ~ a. r,
T former are about $500 banks, scattered over tI
ne The, are regulated and inspected by the bonds an
~1Ted O
he toH %le ;t nnDv of money for commercial needS anu a.
81 1, desioned to be the landmarks OF collle +;caT
d. banks are similar but are under s % 15 600 in numbe
~ notes These groups OF DanNS nea - notes for IL
is no NOUS - 1;, largely upon the discount1ng OF noe
IS farmers merchants, manufacturers anu ed for the purpo
- +,e country In general they are o ~ NV, other form
7e OF ge I IN real estate stocks and bonds or any o'
TX. fixed capital : Lor,e make I'D the bulk of the
a trust The former were originally deSlgneu y i
nc make investments for people &C ty ;IsJ their fe
as general trustee business Lay @ other bank does and
we ' t no other bank do 1t IS not at a 1enr1e
e things that no ~ York discounting notes IN one
s trust company III nober dealing in foreign eNcnanse
has handling margin accounts Tor customers ] nav n
~ broker and conducting dePaIuTI acconnt of the W
he chase Do5 he ~ t companies that they have Oeen
ty consultations OF banks s1,ent banks They upPo
ud Savings banks az M eole and them In mos. M -
the to take the trictv prescribed by law In NEW l s
red s connot do any disoountns u @ can loan small prof.
t state ana I 10 national banks and trust - t
lks count of the rigid law" that IS controlled by ne
the savings DalEs ~ ,erv little tendency to eNpoI u % IN
the IposorS- Few if anv of them are directly '
ling prya'e p srr, ,. +be promoter and
He Is TI promoter not usually % fr non76tion and ban
dy banker work together ne M private banker He is supp
nder to together ' bds great funds of money ior D
ere, to be an nd'@ @ his friends himself his Prols I'D g
1ght people ms his risks are Proclo % aend such
ance enterprise, with all the ha' tocz iobbng and
rise subdivision OF lne % science of private ban<n
with underwriting Ihese ae Subdivisions of the banking OuS
eler Under the ola sd Within the last fifteen years [
,eak were I; have been oblerated SO a ;ner, Of
anies uy @ roncerned We have seen .n - the Amaigan
sa Sana are city sqe s P9st s ' Sa04s osoo maker q
not Copper Company; ana m t trust company was specl[
the for Reading stocks ~ r +o assist the financing OF W