Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-04-06
Financial World Busies Itself
With Speculation as to Next
King of Money.
OPINIONS OF SON VARY
Dominating Firm Likely To Be
Challenged by Other Claimants
to Supremacy.
BY B, c. FORBES.

BY 3. C. FORBES.
NEW YORK, April THE king is
dead. Who will be king?
That is the question keenly dis
cussed by the world of finance.
No individual is big enough to-day
To fill the place that was occupied for
50 many years by J. P. Morgan In
deed. conditions mean that there can
De no immediate and perhaps not
even an eventual successor. for Mr..
Morgan was a product of economic
evils. rather than the handspring of
that evolution.
Americas public is striving to do
away with autocracy in every form.
MIR Morgan held. even if ne may not
always have exercised, autocratic
power.
VINO are the aspirants for the va
Gated throne?
Estimates of ]. P, or"
J. =. Morgan, Jr.-although he is
the Junior" no iOnger-wilI head the
Morgan firm. The estimates Of this
banker vary radically.
Some intimate friends declare he is
scarcely less able than his father,
but that out Of filial respect he con-
sistently remained in the back
ground.
Others say that the younger Nor
San is a very pleasant gentleman,
that he is far from being a nobody,
but that he will be little more than
the nominal head, since he is less
able than several other tinanciers.
This view is probably the correct
one
Henry F. Dawson has for two years
dominated the active operations OF
Morgan a. co. He began life humblv,
but after he entered the banking
business he demonstrated eXtraordl-
nary ability At one time he was
the youngest bank president IN the
United States. George +. Baker APP
praised him and made him vice
president of The First National Bank.
A Promising Napoleon.
Then j. L. Morgan, always on tine
lookout for brilliant banking brains,
gave him a partnership, and IT was
not long before he became the dom
mating spirit. Every big banker who
mas had dealings with Mr.. Dawson
declares lilti LlltAt - Nv AAAPAN IA 80
Using Napoleon Of finance III the
country.
Kuhn. Loeb x Co. whose opera
tions are usually classed as next IN
extent to those of Morgan a Co,
have as "a partner a young banker
whose record has attracted great at
tention-Otto II. Kahn. 1t would not
Hstonish Wall Street If Kuhn, Loeb
AZ co. should draw toward strlklngly'
Rival
LANES Spever is not an old man;
lie has two or three capable part
uers. his international connections
are second to none, and il may he
that Speyer q co. will cut a very
prominent figure in the realignment
that is bound to take place during
the next few years.
Frank 4. Nanderlip, president OF
the National City Bank, has had a
nhenomenally successful career; he
is very friendly with the Morgan
mariners. he is the leading spirit IN
the New York Clearing House; ne
has made his mark as a railroad al
rector and fnanCier, and IS IN the
prime of life He, too. must be reck-
oned with.
To rule the financial world unchal-
Ienged is doubtful. j. J.. Morgan
was. Of course. the fountain Of ms
firms UNPARALLELED influence, ana now
that he is gone "a process ul deceh-
trali2ation appears inevitable. II was
nften said that the United states
needed "A man like Mr., Morgan 10 take
The helm in times of stress bul I'M
del. a proper currency system suCn
as is promised. onc-mdn power ought
moi 10 be needful In republic
democracy. not autocracF, Is heedeu
10y the people. III,
get il. ..-, ...z-.+,.,.
business. stock market ana aSrlcul-
tural conditions. there are GROUNDS
for both moderate optimism ana pes
simiSm.
fnl. fo tariff uncertainties but the ely
u,rrstfons are that President VIII
-,rlf, message viii prove quite ldNof-
able and that actual tarll leElsld-
lion will not be ruInous the move
.uent uf reciprocity is being taken up
NV enlightened members and may re-
suit in highly beneficial l'iyh,
Credit Over Extended.
Tho worlds money markets are
rnf comfprtable Credit mas been
,yer-extended. both in Europe and IN
Au4.ric... Outstanding loans are lar
foo heavy. and enormous loans gov
r~uueutaL State, municipal raLirpad'
Industrial and Iuercantlle-are ON
Har-in- There may Doe q rev hloittL7
of relative ease during the SUMMER
lri n Is not easy To see now all de
Inards will be met iu the fan
stocks can be purchased FOR m
,-astrenr al very attractive levels,
and bonds are also cheap. but there
would not appear To be any abunu-
ancc OF money available Tor ramp
ant speculation for the rise.
Agricultural conditions are al
right. though little more can De sara
the first week of April.
BUSINESS men would do well 10
iii q tiaI,t rein uDOn their eNpen-
fifurps. Spectators upon either side
1ra spt to he badly squeezed. IN
,.aSrors. however, who have cash To
f.3S Tor what they buy can ma eA-
..eII-nJ opportunities. both IN stocks
and bonds.
MONEY AND EXCHANGE