Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1912-11-14
ROCKEFELLER and
MORGAN DOMINATE
THIRD OF wealth
Assets of These Men Placed at
$39,711,328,678 - Their
Banks Closely Linked.


experts, employed by the House COM
mittee on banking and currency to. as
certain to what extent the control Of
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 SO per cent of the
elective wealth and natural resources
of the United States These two men
are ]. Pierpont Morgan and John d.
Rockefeller. The experts report to the
committee on banking and currency
the names of the interlocking directors
in the great financial interests.
Tho lnter|ockina System.
The financial control which j. Pier
pont Morgan and John d. Rockefeller
exercise over the industrial and flnan-
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.
Furthermore. according to the re-
ports submitted to the committee, there
are no great rivals among the "big
interests" but on the contrary those
the general policy Of working together.
This is contrary to the popular as
SUMPTION but their conclusions, the
banking and currency committee tnves-
tigators say, are borne out by their
study of the directories of all the i'm
portant corporations in every part IF
the land.
Morgan Rockefeller Assets.
In four pamphlets just privately
nrfnfa6 for the II of Chairman P1I3n
the committee and Samuel Untermyer,
the counsel, the total assets of the
Morgan Rockefeller group are figured
at $S9,711.32S,67s. divided as follows:
Industrial and public util
Railroad properties. ..... 17,250,000,00
Banks and other financial
institutions ........... 100000 1892
Minimizing and Oil prop
l. critics .............. 1,5OO,949,942
l wal 800, l44,OI o
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
indicate, as assembled in the four re-
ports, that the Rockefeller Morgan in
terests are dominant In all the other
| groups-they interlock with the same
interests that dominate the Standard
Oil 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.
ly to establish the fact that all bis
business is on good terms and works
together to great extent.
Links Between the Banks.
In "test" list of 244 banks scattered
throughout the United States the &C.
countants traced direct links Of name!
extending to the big Morgan Rookie.
Teller banks and trust companies IL
New York city.
The investigators report that the.
then worked away from the big banks
and found that the directors Of thes,
institutions, who are directors Of tn,
outlying banks, were also directors Ii
great corporations Of all Sorts
They found too, that the Could, Van
derbtlt and Belmont railroads were rep
resented in some of the New Yorl
banks in which the Morgan-Rockefelle
interests are admittedly dominant ant
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 wer
directors in lines supposed to be run
ming in opposition to them.