The evening world., 1910-12-10
William n. Porter and Thomas
w. Lamont Leave Chemi-
cal and First National.
WALL STREET WONDERS.
Can't Understand Why Per-
kins Is Out and that New
Alliances Are Made.

The subjects OF greatest interest down
session Of the stock market to-day was
net the recovery OF a point in tho shares
OF Union Pacific and United Stptes
Steel after the recent lo-point slump.
hut rather the somewhat startling
changes in The omcial prcsonncl OF the
3 banking house 81 j. +. Morgan and
Ccrpany. the Chemical Nasional Bank
the Frat National BAN announced
N > morning.
n In the private oflce OF the brokers'.
yhcalnd tie mahogany petitions. firm
mcnJ,r- were asking one another
puosiisns like tiese:
WAY IL George W. Perkins resign
ing from tire arm OF J. 7. Morgan?
Way IL william II. Porter. press
dofr. OF the Chemical National Bank,
leaving that great institution In
oder to become a partner In the
house Of Morgan?
Why IL Thomas ". Lamont quit
,ins the position OF second vice
pres ident Of the First National
Bank to do likewise?
All Seek Answers.
1t was tho W to these questions
that formed the bulk of the mornings
speculation IN tho street
Al banking and brokerage houses
even the greatest Of them and not cx-
'eptlng one 80 great az ~Morgau's,-de.
PEND for their success upon business
retters. Not. OF course. the little buis.
less ten-share chaps and the hundred
share customers-men who hang over
iac ilekers In the board rooms every
day scairlng points and incidentally
losing their own scaIps.-bu, the princes
%: the profession who can bring In the
business OF a life Insurance company.
AZ Mr.. Perkins once did with the buis-
ness OF the Equitable. or the loan ac-
count or stock and bond business OF
"a great Metropolitan bank.
Business g%etters. like everybody else.
have their day. and some of the inter-
l~rogatories In the stock~-brokers' Offices
this morning take this form: rs IL pos
sible that Mr.. Perkins. although only
forty.eight years OF age. has seen his
zenith In that capac!ty?"
The mill will never grind with the
water that In past. II Is not tie old
business. II IN the new business that
counts.
Many OF the brokers spoke deprecnt-
ingly OF the new points OF contact be-
tween Mr.. Morgan and what remains
OF the banking power OF New York City
mol hitherto controlled by him, as indi-
Gated by the entrance into his firm OF
President Porter OF the Chemical and
Vice-President Lamont OF the First Ma.
tional.
See the Hand Of Morgan.
They dcplore everything which would
teem TO make II easier for Mr.. Morgan
TO Keep tabs. through the loan account
OF the extent and character of ever,
brokerage Arms business.
The speculation as to the successor o.
Air. Porter centered almost unanimous
" upon J. b. Martindsie. now vice
president Of the Chemical. and upo,
George r. Baker 1r., who IL now thlrt
vice president OF the First national. a,
the successor OF Mr.. Lamont.
Mr.. Porter was not n his desk At tn,
Chemical Bank to-day when a reporte
Of the Evening World sought informa
lion about the announcement OF his en-
france Into the Morgan frm. and In hi
absence no other oficial OF the institu
Mon would comment upon the reason
for the change. beyond saying tina
while the Chemical National Bank wa
great. the Morgan hank was create,
and Mr.. Porter had gone higher.
2 Excluding the bAnaus Of three or fou
States like Great Britain. France, Gel
tUany and Russia. the banking house 4,
~. p. Morgan & Co. IL the largest O
lssearth." sid ono man In the Chemic,
l9Bank.
~ When J. B. Martindaie. vice-Pres
dent Of the Chemical institution, wa
itold that he vas picked by the stree,
~ the successor OF President Porte
are thought the street" had bett,
Emake a good Job Of II and send alor
The salary.
NO" sid Mr.. Martindaie. 1T Is y
too early TO name Mr.. Porter's su
Icessor. The stockholders OF a bar
Olect the darsctors n the directo
elect the Vico-President and Presidei
The directors have not yet mot to co
slider the subject. and until they
pothing . be aid ~ to who may
.lthe next President OF the Chemical. :