The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-04
I'M IS MAN At
$4,000 A YEAR
\ York Clearing House De-
Hes to Put Check on Trans
actions of Trusts.
.TH Is BREAKING UP
STANDARD OIL GROUP
'anciers Pass Away Without
eaying Competent Success
|Ors to Care for Business.
,ased Wire 10 The Tribune.

Leased Wire 10 The Tribune.
Ew YORK. June 3.-One of the
NJ important banking positions in
United States must shortly be filled
s( already the possible candidates
/. being considered. The office is
y OF special examiner for the en-
ted New York clearing house. No
Ser man in the country will be placed
>ossession of so full information cor.
ling the financial operations of New
X City. 1t will be his duty TO as.
Iain the exact status OF every bank
q trust company in the organization,
I'm him nothing will be hid.
Ie will be clothed with unlimited
,>ers in regard 10 investigation bank.
: accounts and transactions, The
sITledge he will thus gain would be
lHh purchasing at almost any price,
Is Essential, therefore. that the gov
'Drs of the clearing house make the
~ rigid stipulations as to the con
h of This official during his term
office and after he may resign.
To secure the right kind of man a
II large salary will be necessary
7 less than SO 600 per annum. in all
inability To, have the duties per
ned thoroughly and impar,ially
I'D be worth four times that sum 10
" York 1t * said that no local
1ker Will be chosen, for reasons that
n not be specified.
Admit Trust Companies.
L.orJ oul,. ., ;,,o,r4,,na ., ,no al
non of trust companies 30 clearing
ise membership is the agreement to
Soint special examiner with an ade.
Ne staff. 1t is even said that the fl
rcial powers were as anxious 10 in
duce this innovation as they were 10
pli the trust companies.
Without casting the slightest asper
b on the state banking department.
tannot be said that its periodic eX
inations inspire full confidence now
+ the trust company business has
ched such magnitude and has be
be so extremely diversified in char
fr. When merely trust funds were
ldled the public s interest in these
uiutions was not very great, but To.
the New York trust companies are
be found engaging in all sorts OF op.
Ions, from the promoting of holes
me ground as mines 10 the col
lng Ct interest on the government
ds of widows and orphans.
pe national banks want TO have |
GER check upon questionable doings. |
ne bY one the old-timers of the
pdErd Oil are receiving their final
faons and the younger generation
3 not yet demonstrated their abil-
10 successfully fill the gaps. Seven
ninent Standard Oil men have died
AN the last few years. so that to-
Ionly a few of those who were as.
ated with John d. Rockefeller in
early stages of his career remain
be helm.
+ Many Magnates Die.
Anlel O'Day was among the first TO
ii. ii. Rogers. often described as
!e brains of Standard Oil, - died
~ lamentable circumstances In
neial circles il was well known that
rugged inancler lost heart over
events OF 1907. W. +. Howe. W.
,fplford, +. q. Barstow and Philip
reeht have all passed away, while
week James Smith, head of the
1ufactaring committee of the Stand
on company, died suddenly at the
Tho will be the successors of the
pdard OIL leaders removed by death
or the septuagenarians aud octo-
nfians whose active labors are near.
an end?
oung John d. Rockefeller has no
'e Tor business, but desires TO de.
his life to the philanthropic
me evolved by his father. Vii.
Rockefeller S son. Percy. is an
Ee, strenuous worker of recognized
4ty.. n ii. Rogers is credited with
Fessing more than average kL in
3ef. but he, has not so far con.
fed his associates that he is destined
edeqnstely fill the shoes of his ia.
re young Bedfords are noted for
q strict, attention to business, and
arc already filling important po.
2ns IN various departments. But,
2iready stated. the Younger element
p not yet won their spurs.
lortunateiy, their training will fit
y 1or complying with modern rules
eynducting gigantic enterprises. in.
Fch as they cannot but realize that
nge OF unrestrained and Unmerciful
fes mas gone by and that hereafter
>%poration morals must be above