The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-01-05
UNEy k|NG IS
BFEER SAFE AND
] Sane COURSE
7. 2. Morgan, Whose Latest Acquisi'
4 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. +.
Morgan interests have captured Levi
r. Morfon's Morton Trust Co., In
which Thomas Fortune Ryan. the de-
throned street railway king OF New
4 York was a powerful factor; the hiith
i Avenue Trust Co. and the Guaranty
Trust Co. They are TO be relegated
into oblivion while in their stead Is
10 be erected the new Guaranty Trust
Co., the second largest trust company
In the world. with a total capitallza-
ton OF 100000 but with resources
OF S17O. 100000. Levi p. Morton, once
yice-president OF the United States, is
20 be tho chairman OF the board or the
x new trust company. but the company
4 will be essentially a Morgan concern.
( The eclipsing OF Ryan has come
I fast after the revelations IN connec-
/, fion with the manipulation OF the trae-
\ ton companies OF New York by Ryan
Z and his associates and Morgan has IN
/; nearly every instance taken over the
( Ryan holdings. First To pass Were
4 the shares controlling the Equitable.
(which r. III. Hartman would have
! owned had he lived. Other securities
passed and finally. by purchasing the
\ Ryan shares in the Morton Trust Co.,
4 Morgan was able &c manipulate the
4 newly announced deal.
3 With a total of more than ten Dill
: Hon dollars in resources in his com
J. panies, Morgan, IL Is claimed In finai-
K cial circles, can do about as le
/ plcnses with the finances OF the coun.
/ Try. no matter what monetary legisla-
1 don Is enacted by congress and there
4 IS q general feeling OF wcnderEent Ill
H Wall-st. today as to where the aged
(. 1nancier is going TO get on. X Is
4 known that his recent activity n as
stunning control OF the big banks. trust
4 companies and insurance companies
Is al part G. one general plan mat
was decided on by Morgan and his adj
yisers following the panic or 1907.
Close control OF banks and strict re-
srrictions for their management were
tie suggestions Morgan made when
he was asked at that time what rem
edy there was for the panic and.
Judging from recent Developments, ne
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 OF
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
slirance concerns: Equitable Life.
s e472. $3.50, sos, Equitable Trust Co, $685.
S2f 500; Mercantile Trust Co. $685.
474.70O: Guaranty Trust Co., $lIO.000.-
900, National Bank of Commerce.
< 1926. 549.0s5; First National Bank,
3135.621, $50; Chase National Bank,
4107, 2S5,7iO; Mechanics National
Bank, S51 .3G4, 3cS; National Copper
Bank. s40.307.764; Liberty National
Bank. $24 .705.014; Bankers Trust Co.
: 500. $50 800: Aston Trust Co. sl5.209,-
900; New York Life. s494.40S. S07; Ma
tional City STANDARD Oil controD,
42S0.447,9 71: New York Trust Co., $66.-
Y 145. 800; Standard Oil Co., $lS,450. 100.
Railroad and industrial corporations
or which Morgan either owns the giant
share of the securities or dictates the
policies: Southern Railway. s466, 609.-
877. Pere Marquette. $50 ,34S.000; Gin
4 cinnati. Hamilton Il Dayton. $S2.S63.-
600; Chicago, Great Western, $10i.-
7c6.015; international Harvester Co,
8 $50. 600. 600; International Merchant
Marine. S1s0,2G5,361; United States
Steel Corporation. 81. 491 .001 500; Erie
Railway, $414.256.417: Pullman Com
pany. 00,000.O00: General Electric,
&8O. 10I. $40; American Telephone and
Western Union. $515.073. 200: United
Dry Goods Company. s20.000.000: Pub
lie Service Corporation. n. j.. SCI. $780,
600; Interborough Rapid Transit, $780,
192. 600; Hudson Manhattan Company.
357 ,314. 00o; Brooklyn Rapid Transit.
1926 900. 900.