Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1912-11-14
AND
MORGAN DOMINATE
THIRD OF WEALTH
Assets of These Men Placed at
S39,711,32S,678 - Their
Banks Closely Linked.

washington. SpeClaI. ne STeClAl
experts, employed by the House conn
mittee on banking and currency to as
certain to what extent the control or
the commercial and financial interests
OF this country have become concen-
trated through the interlocking of the
directorates of corporations. have sub
mitted their report to Representative
Pujo. Of Louisiana. the chairman OF
the House committee on banking and
currency. According to these experts.
two men control between them more
than one-third or &c per cent of the
elective wealth and natural
of the United States. These two men
are j. Pierpont Morgan and John d.
Rockefeller. The experts report to the
committee on banking and currency
the names of the inteclocSing directors
in the great financial interests.
The Interlockics System.
The financial control which ]. Pier
exercise over the Industrial and finan-
cial affairs of the United States has
been built up. the experts of the Pujo
committee assert. by the establishment
and extension of the interlocking sys-
tenn of directorates.
ports submitted to the committee. there
are no great rivals among the big
INTERESTS but Or the contrary. those
interests are on good terms and follow
the general policy of working together.
This is contrary to the popular as
sumption, but their conclusions, the
banking and currency committee inves-
t%igators say, are borne out by their
study of the directorates of all the i'm
portant corporations in every part OF
the land.
Morgan Rockefeller Assets.
In four pamphlets just privately
printed for the use of Chairman Pujo.
Il fIn rnrnon,iffan n nd Sn,,,,,a1 IY1af yny
the counsel, the total assets of the
ACKNOWLEDGEMENTS group are figured
at $39.711.328.67 S. divided as follows:
Industrial and public util-
ltleS l5,6 S6, S53,Sl4
Railroad properties...... 1880, 0O0, 600
Banks and other financial
institutions ........... 1000. Oil ,932
Minimizing and oil prop
critics ............... I,5O0.949,9 42
Many of these corporations whose
assets are recorded in this table are
characterized in these reports as Nor
gan concerns, many as Standard Oil,
many as Gould. some as Vanderbilt,
some as Hill. some as Guggenheim.
some as Ryan and Belmont and others
as independents.
Dominate All Groups.
The figures gathered by the experts
iSAASON oS - vi lIC lOUi e
ports. that the Rockefeller Morgan in
terests are dominant in all the other
groups-they interlock with the same
interests that dominate the Standard
OH company and the same that dom
mate the steel trust. and these two are
found side by side throughout the
financial world.
The committees accountants made
no attempt, they say. to show the dom
ination of any special group. but mere
~ to establish the fact that all big
business is on good terms and works
together to a great extent.
Links Between the Banks.
In a test" list of PA banks scattered
throughout the United States the ac-
countants traced direct links of name.
extending to the big Morgan-Rocke-
Teller banks and trust companies In
New York city.
The investigators report that the,
then worked away from the big banks
and found that the directors of these
institutions, who are directors of the
outlying banks. were also directors iii
great corporations OF all sorts.
They found, too, that the Could. Van
derbilt and Belmont railroads were rep
resented in some of the New Yorl
banks in which the n-Rockefelle,
interests are admittedly dominant, and
then they followed the list OF railroad
directors and found that the same Nor
gan-Rockefeller group of director.
were directors in the railroads in ques-
ton, while at the same time they were
directors in lines supposed to b rum
Airr A~