The Nenana daily news., 1920-01-30
GOTHAM BANKERS MERGE INTERESTS
 LCNG Al BATTLE

the political feud which resulted in the duel between Alexander Hamil ton and Aaron Burr at Weehawken, IN. J., in 1904, have been revived here by the merger of the Manhat- tan company and the Merchants Ma tional banks, two of the oldest fi- nancial institutions in New York.
 For more than 115 years the two establishments have dwelt side by side at 40 and 42 Wall street, and in 1882 they united in the construc- tion of the new building which they have occupied jointly ever since. In the union of these once rival in- stitutions the metropolis loses prob ably the last tangible trace of the most famous of early American an tagonisms. Although the banks themselves have long since buried the hatchet," there was time when they were neighbors in name only when the mere suggestion of their getting together would have been dismissed as unthinkable.
 Burr was elected to the New York legislature in 1797, when the state and city were controlled by Hamil- ton as the leader of the Federal ists. Hamilton had helped to es- tablish in New York branch of the Bank of the United States. This was then the only banking institu tion in New York city. The insti- tuition was controlled, so the Re- publicans led by Burr alleged, by the Federalists, who were charged with using their financial power for the furtherance of the Federalist cause.
 The political ambitions of the ''little intriguer" at Albany caused him to desire to break through the banking ring which barred all anti Federalist banks from New York, and his opportunity came in 1799. In that year he introduced bill in the legislature which authorized the granting of a charter to a company which was ostensibly to be formed for the purpose of improving the water supply of New York city. The city, then with population of 5O,0OO, had just passed through a severe epidemic and Burr's project quickly met with popular approval. The real object of the Manhattan company was to supply Republicans
 with the sinews of war. ! Republican merchants, it was said, were discriminated against by the
 Federalist bank, whereas their Fed
 eralist competitors were freely ac-
 commodated when they sought funds
 to carry on their business. The
 adroitness which Burr employed to
 obtain charter was emphasized
 bv the fact that the Federalists had
 majority in the legislature. Hence the omission of the word bank from
 the Manhattan company. @.-...
 The petition for the proposed "waterworks" company stated that
 as it was not known how much capi tai would be required, the projectors ldid not want to risk failure by : deficiency of capital and, therefore lasked authority to raise $2,0OO,OOO
 Inserted in the charter was a pro Ivision of Burr's that "the surplus lcapital may be employed in any wa.
 mot inconsistent with the laws of tho lConstitution of the United States ol of the state of New York.
 The senate and the house passed the bill expeditiously, few member even taking the time to read it, ant
 none except those who were in thu secret suspecting it's real purpose Burr's manipulation of this affai iwon him the favor of a few Re . publican leaders, but cost him hi
 jformer prestige, the people at tha
 time having chronic prejudic'