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 MAINE NEW HAMPSHIRE VERMONT MASSACHUSETTS RHODE ISLAND CONNECTICUT NEW YORK NEW JERSEY PENNSYLVANIA DELAWARE MARYLAND OHIO INDIANA ILLINOIS WISCONSIN PACIFIC STATES SAVINGS DEPOSITS IN THE UNITED STATES DEPOSITORS THOUSANDS AMOUNT DEPOSITED $ MILLIONS |