The same interests control, also, a second chain of institutions. This is headed by the Hanover National bank, and includes two smaller banks and the Trust company of America. The total capital of the four institutions is $16,000,000; their deposits amount to $97,000,000; and their loans stand at $57,000,000. With the Hanover bank, moreover, the Union Trust company, controlling $52,000,000 of deposits and $44,000,000 of loans, is known to have intimate relations. If now we combine the figures of the two chains of institutions associated with the City and the Hanover banks, it appears that within our first sphere of influence there have been aggreegated $108,000,000 of banking capital, $474,000,000 of deposits, and $323,000,000 of loans. And these data, it should be remembered, take no account of the control exercised over banks located outside of New York. The other major sphere of influence is controlled from the banking house of J. P. Morgan & Company and from the offices of the two large insurance companies. Perhaps little violence will be done to the facts if, henceforth, we call this the Morgan sphere; for it seems certain that the dominating influence emanates from 23 Wall Street. Three chains of banking institutions are the repositories of the power here represented. One of them is headed by the First National bank, which, within ten years has increased its total resources from thirty one to one hundred and ten millions, and now has a capital, surplus, and undivided profits amounting to over twenty three millions. In this institution Mr. Morgan's control is almost undisputed; and with it are associated the powerful Chase National bank, the Liberty and Astor banks, and the Manhattan Trust company. This group of institutions possesses an aggregate banking capital of $33,000,000 while its deposits and loans stand respectively at $149,000,000 and $72,000,000. A second chain of banks is led by the National Bank of Commerce in which the Mutual Life Insurance company is one of the principal stockholders. With it are grouped four other institutions, of which the largest is the Morton Trust company. At the head of a third chain stands the Western National bank, which is associated with the Mercantile and the Equitable Trust companies. The Equitable Life Assurance society holds large blocks of stock of the first two of these institutions, and the Gould interests are represented in the ownership and management of the Mercantile Trust company. If both of these chains are combined with the one controlled through the First National bank, we find in the Morgan sphere of influence a banking capital of $97,000,000, deposits amounting to $472,000,000, and loans which aggregate $299,000,000. In addition to this the two life insurance companies just mentioned have outstanding loans of $28,000,000 upon collateral security. Compared with the Standard Oil and Morgan interests, the chain of institutions known as the Morse group is of decidedly minor importance. But this includes twelve banks and two trust companies, with an aggregate capital of $23,000,000 and loans amounting to over $100,000,000. Mr. Morse and his associates have purchased the control of these institutions, perhaps with the aid of loans secured in the manner described in an earlier paragraph. At present the group is supposed to be operated upon an independent basis, but there is no speculation concerning the possibility of its being merged with one of the larger banking combinations. And, finally, we have come to the National Park bank, with its group of affiliated institutions. Four of these are small state banks in different parts of New York, which are operated virtually as branches of the larger corporation; the fifth is the Colonial Trust company. The banking capital of the six associations is $13,000,000 and their loans do not exceed $76,000,000; ownership and management rest with the Astor, Vanderbilt, and Belmont interests. Outside of these various spheres are independent banks, some of which a decade ago occupied the leading positions. Then, too, many new institutions, generally employing a small capital, have been established during the recent period of business expansion. Yet the Morgan and the Standard Oil alliances control not less than $205,000,000 of the $451,000,000 of banking capital invested in the city of New York; and, in all probability, secure a similar proportion of the business transacted. Time alone can tell whether these mighty aggre |