The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1911-07-22
ALL TRAILS LEAD
TO WALL Street
Prominent Writer Tells of the
World Wide Power OF the
House Of Morgan & Co.

John Z. Lathrop. a prominent news
paper writer, who has made a close
study and an extended investigation Of
the Alaska situation, contributes the
following article for the edification of
Americans:
THE Alaska Cunningham coal claims
and Controller Bay stories are primarily
stories of Wall street. Some OF the de-
tails were worked out in Washington;
some Of them in Portland, Seattle and
Alaska. Each trail leads eventually to
the financial district of New York City.
In many instances the trail has been
winding and %tortuous, and every trail
at some point has run through a-sab-
~terranean passage. These trails u
out from Wall street often times
through Washington, nearly always
to Seattle, and, Of course, in prac-
tically every instance. to Alaska.
Then, sometimes. back by another
tortuous route, always through
Seattle. sometimes again through
Washington, but inevitably back to
New York City and to the banking
house Of John Pierpont Morgan & Co.,
at the corner of Wall and Broad streets
Just across the street are the vaults Of
the New York exchange, and on the
other corner the su~b-treasury of the
United States.
One Man Dominates
Every one down on the street
that is, the financial district, knows
that one man dominates credits Oh
Wall street. This does not mean that
that man is loved. He is bitterly hated
He is like the master wolf of a snarl-
ing pack, maintaining his leadership
by force rather than by willing sub
lection. One of the most powerful
bankers. head of q great concern over
there. expressed his unqualified hatred
of Mr.. Morgan and his methods, but he
admitted that he dared not cross MI.
oaOrBnh . WiAi' anu shaS Wuilo MI nuOr-
gan had not a dollar of interest, direct
ly or indirectly, in this mans banking
house, which is one of the greatest in
the world, yet this great house dare
not engage in any financial transac-
tions upon which Mr.. Morgan has put
the ban. Do you begin to get the
idea? Morgan dictates the finances
Of the country. The reasons are ap-
parent if you will journey with me
across to England. Time was when the
name of Rothschild meant credit domi.
nation in Europe. j. p. Morgan & Co.
are there nov and matters are different.
Financiers of Europe have reached a
point at which they refuse to fuance
an enterprise in the Americans to which
Mr.. Morgan objects. Now we return to
Montreal. and there we find Mr.. Nor.
gan owns the Sovereign Bank of Can
ada, and that that bank and all its
branches operate agreeably TO Mr.. Nor.
gan's desires.
Syndicate Methods
in military warfare the COM
handing officer often utilizss spies
and sends out men clad in citizens
clothing for the purpose of deceiving
others as to the purpose for which the
men go. 1t is precisely the method
adopted on Wall street. IL was the
method adopted in the Controller bay
case. The lawyers of the Morgan. Gug-
genheim Alaska syndicate knew In ad.
vance that the Cunningham coal claims
would be cancelled. This is not to re-
fleet upon the officials of the admin.
i~stration, because we all thought we
knew it. No lawyer could read the
record and doubt that the Cunningham
claims would be declared illegal. Had
the syndicate got control of these
claims. they would have dominated
transportation in Alaska. even if they
had not procured Controller bay. But,
OF course. it was desirable to get a foot
ing in Controller bay, and they pro.
ceeded to get it.
when the Ballinger-P inchot investi.
CATION began. the syndicate's plans to
get Controller bay were well under
way. Many of the details Of Mr.. Nor.
gan's Alaska grab were left to Daniel
Guggenheim and Stephen Burch and
Mr.. Steel. one of Mr.. korgan's at.
torneys. was general counsel for the
syndicate. And yet, in the records of
the Interior Department are documents
which pretend to establish that the
Commission banking house, Probst.
Wetzlar & Co.,. was backing Ryan as a
competitor Of John p. Morgan's Alaska
syndicate. The firm of Probst, Wetz.
lar d Co.. is SO small among the giants
OF Wall street that many of the big
men never heard OF this oncern. Rela.
lively, this concern Is a minnow. and