The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-01-04
1A{Y klNGIS'
|DsIEEn safe AND.
sane COURSE
J. p. Morgan, Whose Latest Acquisi-
ton Are Three Trust Companies
Of New York, Wants Close
Control Of Banks.
Aged Financier Prepares To Make
Prosperity Wholesome, Finan-
cial Circles Say.

NEW YORK. Jan. 4.-The J. Z.
Morgan interests have captured Levi
p. Morton's Morton Trust Co., in
which Thomas Fortune Ryan. the de-
throned street railway king OF New
York was powerful factor: the Fifth
Avenue Trust CO.. and the Guaranty
Trust Co. They are TO be relegated
into oblivion while In their stead Is
to be erected the new Guaranty Trust
Co.. the second largest trust company
In the world. with total capitaliza-
tion of 100000 but with resources
Of $4,000, 900. Levi p. Morton, once
yice-president of the United States, Is
TO be the chairman OF the board OF the
new trust company. but the company
viii be essentially Morgan concern.
The eclipsing Of Ryan has come
fast after the revelations In connec-
fion With the manipulation OF the trac-
ton companies OF New York by Ryan
and his associates and Morgan has In
nearly every instance taken over the
Ryan holdings. First TO pass were
the shares controlling the Equitable.
which Il. III. Hartman would have
owned had he lived. Other securities
passed and finally. by purchasing the
Ryan shares in the Morton Trust Co.
Morgan was able TO manipulate the
newly announced deal.
With a total of more than ten oil
lion dollars In resources in his COM
pAnies. Morgan, IL Is claimed IN nnah-
ciai circles. can do about as .ie
pleases with the finances OF the coua'
try. no matter what monetary legisia-
ton is enacted by congress and there
Is general feeling OF wondernenf I'D
Wall-st. today as to where the aged
flnancier lis SONG 10 get on. y -
known that his recen. activity N as
Suming control OF the big banks. irast
companies and insurance companies
Is al part cs one general plan nat
was decided on by Morgan and his alt
visers following the panic OF 1907.
Close control of banks and strict re-
slrIctions for their management were
tie suggestions Morgan made when
he was asked at that time what rem
edy there was for the panic ana,
judcing from recent developments. he
has set out to secure the closer con-
troll at any rate.
Morgan has time and again been re-
ferred TO as the money king Oh
America. but he never more deserved
the, title than he does at the present
moment. Here are the known concerns
which he either owns outright or con.
trolls through influence:
Banks ard trust companies and In
surance concerns: Equitable Lire.
S412 1888, SOS: Equitable Trust Co, $685.
S2i 800; Mercantile Trust Co, $685.
474.700: Guaranty Trust CO.. slTO,OO0.-
900: National Bank of Commerce,
S226,539,O 95; First National Bank.
Sf3y .62l, $50: Chase National Bank.
Sf07.2S5.7i0; Mechanics National
Bank. t5l. 1854 ,3eS: National Copper
Bank. s40.307. 7e4: Liberty National
Bank. S24.705.014: Bankers Trust Co..
e02.sS6. 900: Aston Trust CO.. $l5,209.-
800: New York Life. y494. 40S.s07: Ma
tional City STANDARD Oil controD.
S2S0.447,971: New York Trust Co., s66.-
i45,30O; Standard Oil CO.. slS,450. 100.
Railroad and industrial corporations
nf which Morgan either owns the giant
share of the securities or dictates the
pOlicies: Southern Railway. S466, 609.-
ST.; Perc Marquette, $685. 900; Gin
cinnati. Hamilton a. Dayton. $S2.369.-
900. Chicago, Great Western. S104.-
sG6.O15; International Harvester Co,
10000. zoo: International Merchant
Marine. $1S0.265,361; United States
Steel Corporation, 81 .497 .001 500; Erie
Railway, $414,256,417; Pullman Com
pany, $lO0. 100000: General Electric,
0.101, $40: American Telephone and
Western Union. $515.073.2 200: United
Dry Goods Company. $4,000 900; Pub
tic Service Corporation. n. j.. SCI, $780,