The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1910-03-17

iionof theWorld
the same route as Morse A search
for the heirs of his financial power
would disclose the trail running in
the same general direction.
In q little more than a week after
the municipal elections in New York
City, came the news that the fnan-
cial control of the enormous assets
of the Equitable Life Assurance com
.pany had passed from Thomas F.
Ryan to J. Pierpont Morgan.
And this is but the beginning Of
the passing of Ryan as an active fin
ancial power ID the economic life Of
the country. Signs are not wanting
that his grip on the existing traction
properties OF New York CITY is being
loosened. and the ever ready hand Of
the Morgan-Rockefeller group is wait
ing to act as receiver. Todays finan-
cial news Ga. 81, announces that
"Mr. Morgan Is having the books Of
the marlborough Rapid transit COM
pany examined as . precedent to his
finding 100000 to finance pro-
posed extensions and improvements"
What this portends is not dimcult to
perceive. Just tas Mr.. Ryan COMPEL
ed August Belmont to stand and de-
liver several years ago, SO now 10
Ryan himself confronted with his fu-
ture devoureS the Unsuitable Morgan.
In less than five years time It is =
safe prediction to make that the en-
tire; traction properties Of New York
City, oil existing and all projected
lines, will be completely in the control
OF the same combination. The defeat
of Tammany has rendered It certain
that 80 far a. future franchises for
city transportation are concerned, Mr..
Ryan VIVA not be considered. And
that situation, desired by the big in.
terests. was In all probability the real
issue OF our recent "anti-Tammaly'
campaign. @
There is, however, another and
much larger victim IN prospect, who
in the course Of Z very few years vii.
yield possession also to the same
combination. The financial news Of
this dAts (Jsn. ., also recounts the
fact that Mr.. Morgan has secured con
troll Of the Chicago Great Western
railroad, q Vanderbilt road" socalled
and has authorized bond issue Of
SIS. DOT, 900 Immediately after getting
control. Unless Ill signs fail, this
as q next step the invasion
of that Empire" over which Mr..
James J. Hill now reigns as absolute
: OUTSIDE Of this and in other direc-
lions. this combination is extending
everywhere its control. Following the
of the Equitable with it,
S472 900 900 assets, came the passing.
of the Guaranty Trust company of
New York, q ninety million dollar con-
Germs, into the same hands. Two more
trust companies, the Mercantile with
S68 ,OOO, 900, and the Equitable Trust
Co. with So, 100000 going the same
way. And even as we write this
comes the news Of the absorption OF
the Morton Trust Co.-formerly con-
trolled BY Ryan-and the Fifth Ave-
nue. Trust Co. into the same Unsuitable
maelstrom. ..rs
The requirement of these proper
ties, together with the existing banks
already in control of Mr.. Morgan and
his associates, gives them control and
influence over financial Institutions
banks. trust companies and assurance
companies-with assets amounting to
1929, 86O,3S2, q sum amounting to
more than $500, 100000 in excess of
all the coin and bullion which could
be furnished by the combined central
banks OF england, France. Germany.
Austria and Belgium.
The control of these stupendous re-
sources gives the combination . pow
or and influence, in other properties,
mostly railroads. whose combined Is.
sets amount to 37,B53.ss1,e0s. these
eoncernk, some Of which are complete
" controlled by the Rockefeller
Morgan interests, all obtaining their
funds through the banking Institutions
OF this great combination.
We - not present thess lsurss 4,
tho hope Of Astonishing or alarming