The evening world., 1914-01-03
More Money Trust Heads Plan
to Get Out of lnterlocking
Boards of Directors.
POWER is TREMENDOUS.
Trio of Leading Financiers
Prepare to Withdraw as
Banker Directors"

The retirement Of J. p. Morgan
from his position as King Of Directors
leaves three men still in the field IS
leaders Of the interlocking directorate
system who are expected to follow his
example. These are William Rookie.
Teller. representing the Standard OIL
group: James stillman. his right
hand man. chairman Of the Board OF
the National City Bank. and George
F. Baker. representing the First Ma
tional Bank interests a. chairman OF
Its directors and also president OF It's
investment concern called the First
Securities Company.
Mr. Baker has. In fact announced MS
intention Of quitting a. many director
ates a. will allow him TO do 20.
These three men meet each other
around the directors table Of numerous
corporations. Their interests were In
many instances closely allied with those
Of the house Of Morgan. All OF the.A'
In particular Mr.. Baker. were associ-
ates and ileutenants Of the elder Nor
| gan In his greatest financial coups.
They belonged to his set and we're his
| intim ates In friendship a. well ~ IN
| business.
George r. Baker holds more director
ships Of large corporations than any
| 0NaN
credited IN the Directory OF Directors
with being director Of nfty-ssven COM
panies. any one Of which ranks OF hisn
importance. Among these are twsnty.
nine railroads and nine banks and
trust companies. He v In the New
York Central and most Of IL subsldi'
aries, the Reading group Of RAILROADS
and coal companies. the Jersey Cen
trsi. the Lehigh Valley. the Lacka'
wanna. Northern Pacific. the Burllns'
ton, the Northwestern and the Erie.
In New York banks he 10 most potent
In sddition to controlling the Frs
National, he 10 director In the Astol
Trust, the Chase National. the Farmsri
Trust. the National Bank Of Commerce
the First Securities and the New Jsrse!
Securities. Besides these there are ga
companies. electric companies. the Teis
phone Trust. the Pullman Company ant
the Steel Trust
Mr.. Baker 10 . common director II
; the six railroads which haul % pc
cent. Of all anthracite coal markets.
and own s. Per cent. Of all ANTHRACITE
deposits.
WILLIAM ROCKEFELLER IN FoH
TY.NINg DiRgcTc RsHlPo.
Next to Mr.. Baker In the list 10 Will
, lam Rockefeller. with forty-nins dirsc
. torships. Of which thirty are OF rail-
roads, including the New York Contra
system. the New Haven system. whic
he ruled Jointly with Mr.. Morgan; tn
Lackswsnns. the Milwaukee and tn
. Union Pacific. In addition he hold
seven Gas and electric company dirsc
. torships. At most Of the meetings Nj
Rockefeller encounters his friend MI
Baker and the interlocking reauonshi
:. 10 made effective.
Third In directorate order stand
; James stillman. with thlrty-f0ur to hi
!, credit. Of which twsnty.ons are raj
: reads and seven banks and trust con-
psnies There 10 much In common b
|. tween Mr.. etillman and Mr.. Bake
Each was president In earlier years {
Q great national bank. Each laid dow
the active direction Of . purely banl
Ing business for the benign influent
Of chairmanship Of the board Of dire
- tors. Each organised . holding con
pany. Of which he became the head.
order to conduct financial operation
r on . broader and more unrsstrain'
y. scale than banking laws would permit
T. All three Of these men are MONDE
70 Of the New York Central system board
10 They touch elbows In gas and slsctT
- companies and they have common i
10 terests In the chain OF banking intsrss
y up and down Wall street Stillman u
Rockefeller are regarded almost
of Identical by reason OF common hnanci
~ interests and family intsrmarriase.
el Keen analysis of the community
their interests and graphic descripti'
Of their methods have been given
Louis d. Brsndeis. the trust buster.
q recent article In Harper's Week.
q, for which permission to repubiish h
=. been given by Editor Norman Hapgoo
- Mr.. Brandeis pictures them a. follow
the National City and the First Natio
IN al-stand prs-smlnent They constitu
be with tho Morgan firm the inner gro
1g Of the Money Trust. Each Of the Il
In banks, like J. p. Morgan 4 Co.. h
been dominated by . genius In combin
n. ton. In the National City It 10 Jam
In stnmsn: In the First National. osor
r. Baker. Each OF these gentlemen "
.'' formerly president and 10 now chaiTgn
W Of the Board OF DirsctorA
RICH THROUGH CONTROL
!" MANY MlILioke.
on The private fortune Of the chief act'
ley In the combination have not been asc
tainsd But sporadic evidence indics
.,l how great are the possibilities OF ac'
h mutation when one has the use Of ot
peoples money. Mr.. Morsan's wea
became proverbial. OF Mr.. sttllma
~ many Investments. only one was spsc
4. caAly referred to during the Pujo invs