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Show ! "SECUR!TY COMPANY" METHOD OE CONTROL OF NATIONAL BANKS IS UNDER INVESTIGATION 1 W ASK I V ;T' N . A. I .Vorm- : Oeneral Wi. kirhini 't r' orf h;om , i inrpurv into th" re' ttion of fh. N i 'tiouJil fit hank of N.-w York with th. rrTntlv or;tni7'd N;it orial i T coin panv wa t rantrnittd to Sc-retary Mar Veajph yeterdh . It wa learned t't the Imnkmc in fnreM aro prepar'd for an n-Uer-' d ninii rv the ei'-reiarv of thf treamirv and thn a citnipU't'1 unilfrnt ari'tmg with the government will lo reach. without lit i gat ion. While the inkT(, in or (fan i zi n u the company, act-d upon t hf ad ice of their law er: tlu' are ft ml to be willing t ronifilv with anv mandu the treasury tjepart merit mth' f make. Asi Secret nr Mae Yea gh 'a derision will outline the government at t- tudf toward concentration of contro' of na f Nona' I'k hv the "v.tir'v enm '.sm'- nw'ol, tfoTi- t iid"-a - ' ti tm tin ,jo .ri itifi't course wil' hid on with t'i gr."if.-!.T df'it' ' ! ; ! -n The w h oic itii -T inn ma v l e dim'tied hv t lie hi ni't Iffnrf an i.osr.'totit'n ij itia!e Trut t "H-'.-'irifv mm -anv idea h m u'rown to ration. poportion was vpr'lied hv i n pn-1 ton of l'ts "f' Tifittttm! K'uk f o,'k h'i!.Ir n fi e with thf .-.imp' r .Her of f h- ctirrenc 'io i-rnn tut ofts.-riU .olrin' that thev w.re iin.tw n -e. of the 4irn;it n until the Httnrnev gti,frn mvt lgTion of the N't t ion a I it v companv hmught it tn :ig,t I'lie formation of the Kirst Trust ''tut i pan v of h ic;t go, H i 1 to he t h ' hn-Mgo F'trnt National hank 'a 'a "li'.fv corn pan v. w:i-" at'proved hv iremurv ot't'i'-Hl. fa'-ifiv. at (sf,: w f''T( Jauu-s H Korg ui couceie.) it ?ev ; cr.il vear ago Tin is a.lnnt'ed at1 tin. tren-ur department. The organi ration of tlie r rt rsecirrtv contpanv the Kirst 'ttio':!(l bank of New York t .!!..w t d f-oin r f er. Storks Entwined. Millions of dollars in national bank "to. k are entwined tn the organization of the three gr,.at holding corpora tt .i and 'he 3'to ir more smaller ones that have beeii discovered If Secretary M.'Yeagh acts upon ttorrev i ieo era W ic kersham a find jing, treasury of'fieia's will shiire with 1 h hankers the problem of dociat trig the 'security companies'' from the I. auks. (tiic plan S'lgges'i-d propose that the t oc k of the ' ' eeuri t v corn pa n :es be available to anv purchaser At prea ert one must own stm-h i n the bank winch has formed the "security nun j.snv ' ' in pnb'r to hold stock in the latter In manv instance, the stock .if the " -eciint y company ' ' has been 1 paid for with ca-h divider ds upon hank stock and a sale of the hank Mock has carried with it the transfer of the " secnnt v company " stock. Clearly Illegal Attorney General Wirkershrtm is said to have heid t hat such restrictions connect the "security companies'' so j . G .-. . I v witn the banks as to make them nii.i II :s ruling is said to follow rinse 'upon the lines of a decision nf :he . pre me curt w Inch depa rt ment of pis t ice officials ttav i n ter pretetl the j i.ati.nial banking law to mean tt.nt each i n at mii a 1 ban k shall be an integral unit, and that none of its capital -to.-n shall be held directly or indirect "v bv lano'her national baua or by anv device j created .r that purpose, j !f Secretary Ma. Yeagh' decision t-I t-I ma-ie upon 'he attorney general 's find I nifcis. h read lust ment of the tuding of 1 ... t.f' manv t trie greatest iiationai 'batiks of ttie couutrv may be neces sjtrv |