Evening star., 1915-07-04
German Group in New York
Opposed to Morgan and
His Loans.
ATTACK UPON BANKER
REVIEWS MUNITION TALK
Rivalry Between Two Camps Ac.
centuated by Incident-No
Panic Expected.
BY N. o. MESSENGER.


NEW YORK. July S.-In the financial
district the attack upon Mr.. Morgan
revived interest in subject which has
been under discussion for several
months and created additional talk about
the share of the United States in partly
financing the European war. 1t also
served TO lend added concern to the gen.
erai subject of shipment of arms and
ammunition to the allies.
That the firm of J. f. Morgan & Co.
should attract the attention of a crank
intent upon emphasizing objection to
the furnishing by Americans of the
sinews of war to European belliserents
was not surprising. This house has been
identified since the outbreak of The war
with the lending of financial aid to the
allies. The firm is said to have aided
France in a loan of one hundred and
fifty millions. Only this morning the
local papers told of a pending PROPOSE
tion to raise a hundred million dollar
loan for England. II. p. Dawson of Nor
gan & Co.. is now in London. presuma
bly, on that business.
Loan and Supply Agents.
Morgan & co. have not only sup
in placing many large contracts with
manufacturers in This country for gem
eral supplies as we'll as ammunition.
Such monopoly We're they said to have
in this business that Canadian manufac-
turers became jealous of the United
States and made representations to the
home government which are now result
ing in the participation by Canadian in
dustries in the business
Morgan 4 Co. therefore. personfied
mining material aid to the allies and
J. p. Morgan as head of the firm nat
urally would he conspicuous
The subject in which interest was re-
vived in the financial district by to-
days incident is the contest for finan
cial prestige which has been waged
between two groups of financial inter
ests in New York, one of which is head
ed by Morgan K Co, and which in
cludes three or more of the strongest
national banks.
Foreign Group a Rival.
rival to this combination is a
group of what is known as foreign
bankers-that is, private financial in
stitutions whose heads are foreign
born or of foreign descent, and whose
Affiliations are largely on the other side
or the water. although, of course, Nor
gan also has a London connection
The contest has been keen between
these two groups and is not over yet
The foreign bankers have not partici-
pated to a considerable extent in finan-
cling the war. 1t is generally assumed
that their sympathies are with Ger
many, but Germany has not yet called
for loan.
While no connection is traced be-
tween the attempt upon Mr.. Morgan's
life and this situation, the whole sub
1ect is brought up again and renewal
OF the discussion is not calculated to
work for better feeling between the
two camps in the financial district
Before the war broke out the for
eign group was supposed to enjoy
notably close relations with the United
States Treasury Department and some
members of the national administra-
tlon. 1t Will he recalled that when the
snip purchase bill was pending in Con-
gress 1t was charged that the foreign
bankers hoped to negotiate the sale of
the interned German steamships to this
government and there was great deal
OF undercurrent of gossip about that
resulting in denial by some of the
foreign bankers.
No Panic on Change.
Inere was general satisfaction in
the financial district today over the
fact that the attack upon Mr. Morgan
failed to create anything like "a panic
IN the stock market. In fact the mar
ket took the shock without fiinch:ng.
and even the industries with which
Morgan Company are most intimate
iy associated reflected no abnormal
change. This was construed TO mean
that business in the exchange is on
such a substantial foundation that
passing storms cannot seriously shake
IL.
Even il Mr.. Morgans injuries should
terminate fatally. il is not thought that
the market would be affected There
will be holiday until Tuesday, and
meanwhile every preparation will DE
made: il is said. to support the market
against attempted raiding upon it's re-
opening.
The shooting occasioned as much ex-
element outside the financial district
as in it. The news spread from mouth
to mouth long before the extra editions
of the papers were on the streets. Fol
lowing as il did the explosion in the
Capitol, and the assigned reasons in
both cases being the same, a very bad
feeling was created and q great deal