New-York tribune., 1910-01-04
MORGAN FIGURES
In BIG MERGER
TRUST COMPANIES TO
UNITE.
Guaranty, Norton and Fifth
AUenue To Be Under One
Management.

The directors of the Guaranty, Morton
and Fifth Avenue trust companies have
approved a proposition for the merger Of
the three institutions under the style os
the Guaranty Trust Company Meetings
of the three boards have been called for
tomorrow afternoon for official adop-
tion of the resolutions covering the
merger. and special meetings OF he
stockholders will be held within the COM
ing fortnight for ratifying the projected
merger.
The capital stock of the new institu-
tion will be s5.000.000. and ex-Governor
Levi p Morton. president of the Morton
and Fifth Avenue Trust companies. will
be chairman of the board The Guar
anty and Morton trust companies. which
are now housed in opposite ends Of the
Mutual Life Insurance Building. viii in
future have the same banking Offices.
while the Fifth Avenue Trust Company
will be an uptown branch.
This merger. which follows the recent
purchase by j. Pierpont Morgan Of the
stock control of the Equitable Life As
surance Society from Thomas F. Ryan
and the acquisition of control OF the
Guaranty Trust Company by Henry P
Dawson. of j. P. Morgan & Co. through
purchase of the holdings of the late E
H. Hartman. amounting TO about five
thousand shares. the remaining holdings
of the Mutual Life, 1920 shares. and
enough other stock TO represent in all
clear majority. marks a further inpor-
tant extension of the Morgan influence
in the local banking field. and presun-
ably also a further withdrawal by Mr.
Ryan from business activities and re-
sponsibilities.
GREAT SUMS ON DEPOSIT.
The Guaranty. at the close of the
calendar yea , had SI9. .509.949 of de-
posits; the Morton, at the last call OF
the Superintendent of Banks. S33. 112.-
4S4. and the Fifth Avenue. S15. 5.923.92S.
a total of $12S, ,546. .361; so that the en-
larged Guaranty Trust Company. if the
volume of deposits shall be maintained
after the merger, will be second in size
TO only the Farmers Loan and Trust
Company. - h its deposits OF nearly
S145, 100000.
The capital stock of the new institu
tion, $5.OOO.OOO. will be equal to the
combined capital of the companies en-
tering the merger. The Guaranty has
s., 100000 capital stock, on which divi-
dends of 20 per cent a year are paid
and surplus and undivided profits of
about s.. too. 600; the Morton. 100000
stock, which pays 20 per cent dividends.
and about SS,OO0,OOO surplus and un-
divided profits. and the Fifth Avenue.
81, 100000 stock, paying II per cent q
year, and about S1.92O.OO0 surplus and
profits.
Mr. Ryan in announcing two or three
years ago his intention of lessening his
participation in active business. said
that he would retain his official connec-
ton with only three institutions or cor
porations. the National Bank of Com
merce and the Morton Trust Company.
of each of which he was a vice-president.
and the American Tobacco Company. OF
which he was a director and the list
under his name in the current Directory
of Directors includes only these three
corporate affiliations.
1t is commonly assumed that he has
now parted with his holdings of stock
the principa' powers have been himself.
Ex-Governor Morton. the William G.
Whitney estate and the Mutual Life In
surance Company. and that he may retire
from official connection with the COM
pany.
In April 1907, the Mutual Life sold its
. $50 shares and the Equitable Life its
2O1O shares of Fifth Avenue Trust Com
pany stock to interests identified with
the Morton Trust Company, the presi-
dent of which. Governor Morton. is
president also of the Fifth Avenue.
At a recent date the Morton Trust
o,onnpany owned 2.437 shares OF Fifth
Avenue Trust Company stock. out OF
the total of 10000. and the Mercantile
Trust Company. controlled by the Equit-
able Life. owned 2.095 shares The Mutt
uaI I.ife's holdings in the Morton Trust.
1000 shares, of 100000 par value. four
or five years ago. are now held at $500
900 book value. which would indicate
that this investment has been retained.
although the probability is that the stock
has been disposed of within the last few
weeks, Just as the Mutual Life recently
sold it's last holdings of Guaranty Trust
stock to Mr.. Davisons
MIR. HARRIMAN'S CONNECTIONS-
The Guaranty Trust Company was or
ganized in 1891 and until a year ago.
when Mr.. Hartman acquired an irlpor-
tant voice in it's management. was al
wavs known as distinctively Mutual
Life institution. Early in December.
1909. ID was announced that the con-
troi had been secured by MIR. Dawson.
and had been lodged In a voting trust
fer FIVE years the trustees being Mr.
Dawson, George F. Baker. president or
the First National Bank. one of the
Morgan group of banks. and William
Fl. Porter, president of the Chemical
National Bank.
A week later Messrs. Dawson and
Porter. r. c. Converse. president 'f
the Bankers Trust Company. and Al
bert III. Wiggin. vice-president OF the
Chase National Bank. another of the
Morgan group" were elected directors
OF the Guaranty. and A. j. Hernphill.
vice president of the company. was
elected president. TO NIL vacancy which
had existed for nearly a year. since the
resignation of the late John w. Castles
y-~x.@