Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-12-15
over .saie, after sstiIOs ssIas The pres


over ssain after setting aside the pres
tnt award
L is necessary. as preliminary. 70
explain why the jackson n. Reynolds
Syndicate is known also as the Baker
Crowd" or the First National of New
York crowd" The Reynolds Syndi
cate took it's name from an individual
who was given power Of attorney by his
associates in the negotiations for the
purchase OF the stock. The Bakers
crowd sobriquet came into being from
the fact that the dominating interest
in the syndicate seems to be George +,
Baker. Jr., the son of George +. Baker,
Sr. The elder Baker Is one OF the
richest men In the country. He is chair
man of the First National Bank Of New
Yor K, often referred to az Bakers
bank. He IL also a director ot the
Central Railroad Of New Jersey
II Baker. Sr.. has bought into the
Coal Company it would have been .
plain open and shut case" Of course.
He didn't, however. His son. George
r. .Ir.. did but his son IL not q director
Of the railroad. However. the minority
stockholders think this bank connection
Is very pertinent to their contention.
The point out also that the First Ma 1.
tional Bank. Bakers bank"-Baker.
remember, being q director of the rail Z.
road--dominates the Reynolds Syndi =
cate. Not only is young Baker the big. Z.
sest purchaser of Coal Company stock,
but also there are five others, the biggest
purchasers Of stock after Young Baker,
who are officers or directors Of "Baker's 4
bank. -
Who Made Up Syndicate?
which is why the minority stockhold =
ers declare that some or NIL of the
members of the said Reynolds Syndicate
are interested. directly or Indirectly. in
the Central Railroad Company of New
Jersey"
The officers and directors of the First
National Bank are George f. Baker.
chairman of the board: Francis l.,
Hine. president; George +. Baker, Jr.
vice president: 7. f. Reynolds vice
president. Directors: George +.
Baker, George +. Baker. Jr.. William
Fahnestock. I. J.. Hine, l.. G. Led
yard, w. II Moore, u X Moron
Charles d. Morton and !. Z. Reynolds.
Shares in the coal company have
Bank as follows: Baker. Jr.. 10000
shares: Moore. 10000: Reynolds. 250O
Morton. $500: Hine. 1000: Moron
1000.
How the Circle Swings
Besides George +. Baker. Sr.-ol
Bakers Bank. which controls thu
Reynolds Syndicate, which in turn
bought the coal companY's stock-hi,
fellow directors on the Central Rail
road OF New Jersey are:
Eben b. Thomas. Robert w de For
rest. Henry Graves, Jr.. Edward Il
StOtesbury, Howard w. Maxwell, Er.
nest II. Alderman. Daniel Willard and
W. G. Besler.
All Of these gentlemen who purchased
coal company stock took affidavit, q:
required by law, that they had no in
teIest. directly or indirectly in tn
( Central Railroad of New Jersey.
They did not take atidavit-nor were
they required to do so-that they had NJ
interest, directly or indirectly, in encl
other or in the enterprises in whici
their friendly million" are amicablS
mingled.
As an example of the close associa
ton. financially az we'll as socially. II
which these men meet, it might be cltet
! that George F. Baker. Jr.. is a director
Of the First Security Company Of New