The Birmingham age-herald., 1909-09-15
MORGAN'S SUN IS
 MADE DIRECTOR He Succeeds Hartman In Di-
 reCtorate of Bank MOST SIGNIFICANT MOVE Election Is Said To Indicate That Be. ter Relations Will Exist Between the Hartman and the Stan-
 dard oil Interests.

New York, September 14.--J. P. Mor- l gan, Jr.. was elected today to the late
 E. H. Harriman's place on the board of
 directors of the National City bank
 By Wall street the election Is regard ed as one of the most significant ot the weeks financial developments, pre- sumably indicating that harmonious re-
 lations exist between the Morgan and
 the Kuhn Loeb Standard oil groups oi
 fnanciers. Added weight was given the event because 1t followed so close ly upon the recent reports that xhe Morgan interests were about to take an active interest in the government | of the Hartman roads and that the
 younger Morgan was slated as the uT-
 timate successor MT. Hartman in the
 command of the Union and Southern
 Pacific systems
 The National City bank, the largest | of the nations financial institutions 1 is controlled by the Kuhn, Loeb ano 1 Standard Oil interests which yester. | day assumed a commanding position for the time being at least in the ex-
 
 cific. George W. Perkins, of the firm | of J. P. Morgan & Co.,, is already q 1 director of the bank and the addi- tional recognition given the firm to- day was taken by many in the finan- cial district to mean not merely tho existence of an "entente cordiale' but the consummation of an active working alliance between the two 1 great groups of American fnanciers.
 The National City bank, referred tc by the general public a the Standard | more than s3O0,000 .OOO. while the First | National, known as "the Morgan bank, has resources approximating S15e,- b O00, 900.
 The commanding position which Ma. tional City bank interests now hold ir the Hartman railroads is indicated by the fact that four of the six members of the reconstructed executive committed of the Union Pacific are directors in the bank-Jacob H. Schiff, William Rockefel Ter, Frank A. Vanderlip and Henry C. Prick.
 MT Rockefeller and MT. Schiff were elected yesterday when the size of the committee was increased and Judge Lov- ett was made chairman, filling the va. 1 cancy maue Dy MT. hartman $ QeatIl. The changes made in the Southern Pa | ciic directorate at the meeting today a: | a result of MT. Harrimans death were | precisely the same as those made in th' | Union Pacific directorate yesterday ant | were in line with the general expectation l Judge Lovett succeeded MT. Hartman al
 chairman of the executive committee 1 while Jacob H. Schiff and William Rocke | feller were elected directors and mad
 members of the enlarged executive com mittee. As was the case at the Unior Pacific meeting, no action was taken il l the matter of electing a successor tt | MT. Hartman as president.
 The Hartman stocks moved upward or | the market today, largely, however, 1T | compliance with the recent optimistic reports of the future plans of the f1nan- cier's supposed successors.
 There were meetings today of the direc' tors of the Illinois Central railroad and of the Wells-Fargo Co.,, in both of which MT. Hartman had membership Neither board took action to fill the vacancy, but President Harahan of the Illinois Central was authorized to appoint a committed to draft suitable resolutions on MT. liar riman's death.