OCR Text |
Show MORGAN IS ACQUIRING MORE FINANCIAL POWER NEW . YORK. Nov. 20. Acting for a group of Individuals whoso Identity is not disclosed, Henry P. Davison of .1. T Morgan & Co. has acquired a majority interest In stock of tho Guarantv Trust company of this city, nn Institution with deposits of more than ninety million dollars, dol-lars, through the purchase of the holdings of the Harrlman estate and the Mutual Life Insurance company. Tho stock will bo hold In a voting trust for five years, trustees of which are George F. Baker, chairman of the First National bank; Mr. Davison and William IT. Porter, president of the Chemical National bank, this Indicating Indi-cating that affairs of the trust company will be governed by the so-called Morgan-First Morgan-First National bank Interests, It Is understood un-derstood that neither the policy nor the administration of the company will be changed. The amount of stock acquired was not made public, but the Harrlmun holdings, which were large, wcro supplemented supple-mented by outside purchases at a price understood to be ?7o0,000. |