The Washington times., 1909-12-07
CORTELYOU LOOMS
AS hORGAN'S HEIR
FinancierS Regard PreSiden-
cy of Equitable as Indi-
cation of Succession.
UNUSUAL TRAINING
IN PUBLIC SERVICE
Roosevelt Aide Believed to Have
Been Chosen TO Direct Union
of Great Interests.

George Bruce Cortelyou. heir appar-
ent to che financial leadership Of
America, successor to the power Of the
great moneyed groups which have re-
Gently been coming into close co-opera-
tion, and prospective head of the great
est association of financial interests in
the world.
That is the vision which has been
brought before the eyes Of people who
consider the significance OF the reported
selection OF Mr.. COrtelyou to be head
OF the Equitable Life Assurance So
ciety, under the Morgan control of that
great institution.
The Equitable, long a capital prize in
the great name of big finance: once
controlled by Henry NJ Hyde, descend
I'd to his son, captured by Thomas f.
Ryan, by him in some mysterious fash
Son divided with his quondam enemy
Hartman, and from Harriman's re-
Taxing hand passed, in the last hours,
10 another traditional opponent, J.
Pierpont Morgan-the Equitable seems
TO be the hostage. the pledge of a bet
ter understanding and a closer init
macy among the huge financial groups
OF New York. Mr. Morgan, now the
accepted leader and dictator of mat
tiers financial. Is credited with having
chosen Cortelyou. young. vigorous, ex-
perienced. tried. to be head Of this
great institution, whose position is Of
such strategic significance.
Looms Large
To men whose habit Of mind is TO
forecast the future by a projection Of
the past, Cortelyou suddenly looms
very large in the realm Of American
finance.
Only forty-seven years old. he has had
a range of experience such as falls to
the lot OF few men in four decades.
He has come to know intimately the
whole Government of the United States;
me has been practically an assistant to
Two Presidents, administrator of three
Cabinet offices. organizer Of one new de-
partment of the Government. He was
the head of the Treasury during the try
ing hours OF the panic of the autumn OF
1870, and however his management of the
Governments relations 10 that crisis
may have impressed certai critics, it
unQuestionably won him high place in
the estimate OF the men who found
themselves compelled to handle the ter
rife and pressing problems of rescuing
the nations credit and Industries from
the menace of overwhelming disaster.
Morgan was the central figure in that
hour of disaster and terror and rehabili-
tation with his steed COrtelyou. con-
trolling the resources Of the Treasury
and the Government credit The two
men worked together. and when COrtel-
you passed out of the Government seTv-
ice ne was made president OF the great
Consolidated Gas Company. Now II
becomes apparent that even that posi-
ton. with its salary. according to re-
port. of $4,000 "A year. was only a step
toward the greater things IN store for
him, under the plans of the great Nor
From the day Of the bank panic Of
October 1907. il has been increa singly APP
parent that the huge financial groups,
long rivals and at times engaged in the
most determined and Open warfare, were
growing closer 10 unity and harmony.
Joined With Rivals.
Mr. Morgan secured representation in
the National City Bank. the establish
ment, Of the Standard Oil group, long
REGARDED as hostile TO him. He counsel
ed with Hartman, a sworn rival and
antagonist OF many a hard-fought bat
tie on change, I'm the last hours OF
Harriman's marvellous career. He is be-
heved 10 have become a sort Of trustee
for a magnificent plan Of promoting har-
1nony unihcstion among the former ri
val interests. and in carrying out that
policy, which was made possible OF
realization by the very fact that the
co-operators IN its promotion, he ap-
pears 20 have turned 10 Mr. COrtelyOu
as a man who could be OF especial
yalGe
For CorteIyou, the inscrutabIe. the
silent, the man OF perfect control and
unfaillnE pOise. has had tho training
Tor the succession. without the handicap
Of intimate afdliatiou with either group
Of interests. He can stand between
them all. a meeting point for their
minds and purposes. without suspicion
OF being unduly devoted 20 either.
lie rs young man with the better
part or bis active life ahead As head
Of The Equitable he viii acquire an
intimacy with financial method and de-
tail. and opportunity 90 know and UNI
oerstand the men and interests that
ale coming into a oneness Of organizsl-
ton and purpose which is now recoay-
nized everywhere.
To him, the protege OF Morgan, Sc
lected by the great financier for one
81 the greatest places in financial Now
York. the finger Of destiny seems TO
point as the man who one day will in
merit the financial sCepter from the hand
OF the great old banker and Industrial
organizer who from his seat al Broad
and Wall streets has grown into dom
mating power that IN the course Of ma
ture must one day be reliuquished in
ssvor Of a younger man.