“You think everything is all right as it is in this world, do you not?”
He answered:
“Pretty nearly.”
RAMIFICATIONS OF POWER
But wealth expressed in figures gives a wholly inadequate picture of the allies’ power. Their wealth is dynamic. It is wielded by geniuses in combination. It finds its proper expression in means of control. To comprehend the power of the allies we must try to visualize the ramifications through which the forces operate.
Mr. Baker is a director in 22 corporations having, with their many subsidiaries, aggregate resources or capitalization of $7,272,000,000. But the direct and visible power of the First National Bank, which Mr. Baker dominates, extends further. The Pujo report shows that its directors (including Mr. Baker’s son) are directors in at least 27 other corporations with resources of $4,270,000,000. That is, the First National is represented in 49 corporations, with aggregate resources or capitalization of $11,542,000,000.
* * * * *
It may help to an appreciation of the allies’ power to name a few of the more prominent corporations in which, for instance, Mr. Baker’s influence is exerted—visibly and directly—as voting trustee, executive committee man or simple director.
1. Banks, Trust, and Life Insurance Companies: First National Bank of New York; National Bank of Commerce; Farmers’ Loan and Trust Company; Mutual Life Insurance Company.
2. Railroad Companies: New York Central Lines; New Haven, Reading, Erie, Lackawanna, Lehigh Valley, Southern, Northern Pacific, Chicago, Burlington & Quincy.