The Morgan Guaranty Trust

Bank History, Morgan Guaranty Trust Company of New York

(From: New York Bank History. By Bob Kerstein, President of Scripophily.com)

1864 Established as New York Guaranty and Indemnity Company
12/01/1895 Name Change To Guaranty Trust Company of New York
01/26/1910 Acquire By Merger Morton Trust Company
01/26/1910 Acquire By Merger Fifth Avenue Trust Company
10/16/1912 Acquire By Merger Standard Trust Company
05/04/1929 Acquire By Merger Bank of Commerce in New York
04/24/1959 Acquire By Merger J.P. Morgan & Co., Incorporated
04/24/1959 Name Change To Morgan Guaranty Trust Company of New York
06/26/1959 Acquire By Merger Morgan & CIE, Incorporated
12/27/1968 Acquire By Merger Morgan Guaranty Safe Deposit Company
06/01/1996 Acquire By Merger J.P. Morgan Delaware
11/10/2001 Merge To State JPMorgan Chase Bank
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
New York Bank History M / Scripophily.com
The New York Guaranty & Indemnity Company
The Guaranty Trust

Morgan Guaranty Trust Company, 1960

The Board of Directors of the Morgan Guaranty Trust Company of New York was composed of twelve directors from each of the merged firms: Henry C. Alexander, Chairman of the Board; Dale E. Sharp, President; Stephen D. Bechtel, President, Bechtel Corporation; William C. Bolenius, Executive Vice President, American Telephone and Telegraph Company; Paul C. Cabot, Chairman of the Board, State Street Investment Corporation; Charles S. Cheston; J. Luther Cleveland, Chairman of the Executive Committee, Morgan Guaranty Trust; John L. Collyer, Chairman of the Board, B.F. Goodrich Company; H.P. Davison, Vice Chairman of the Board; Charles D. Dickey, Chairman, Committee on Trust Matters; John T. Dorrance Jr., Assistant to the President, Campbell Soup Company; W. Alton Jones, Chairman of the Executive Committee, Cities Service Company; Devereux C. Josephs, Vice Chairman, Committee on Trust Matters; Thomas S. Lamont, Vice Chairman of the Board; L.F. McCollum, President, Continental Oil Company; Junius S. Morgan; Thomas L. Perkins, Chairman of the Board, American Cyanamid Company; Carrol M. Shanks, President, The Prudential Insurance Company of America; James M. Symes, Chairman of the Board, the Pennsylvania Railroad Company; Clyde E. Weed, Chairman of the Board, the Anaconda Company; Henry S. Wingate, President, the International Nickel Company of Canada, Ltd.; Robert W. Woodruff, Chairman, Finance Committee, The Coca-Cola Company; George S. Young, President, The Columbia Gas System, Inc. (Banks' Directors Approve Merger. New York Times, Feb. 9, 1959; Display Ad 51. New York Times, Jan. 6, 1960 p. 51.)

Henry C. Alexander

Henry Clay Alexander was born in Murfreesboro, Tenn. in 1902 and graduated from Vanderbilt University in 1923. He studied law there and at Yale Law School, where he took his law degree in 1925. He joined the firm of Davis, Polk, Wardwell, Gardiner & Reed that year, and became a partner in 1935. He represented the J.P. Morgan firm at the Nye committee munitions investigation in 1935. In 1939, he became a Morgan partner. (3 partners added by Morgan & Co. New York Times, Feb. 2, 1939.) During World War II, he was vice chairman of Russian War Relief with his law partners Allen Wardwell and Frank L. Polk (Wardwell to Head Russian Aid Drive. New York Times, May 24, 1942.) He was vice chairman of the United States Strategic Bombing Survey, "a war department unit that assisted in the planning and appraisal of the results of the air war in both the Pacific and European theatres." He was also vice president of the board of trustees of Presbyterian Hospital (Hospital Honors Nurses Aides. New York Times, Nov. 28, 1945; Presbyterian Hospital Elects. New York Times, Apr. 26, 1955) and of Vanderbilt University, and a trustee of the Alfred P. Sloan Foundation (Sloan Foundation Elects. New York Times, Feb. 15, 1960.) (Henry C. Alexander, First Head Of Morgan Guaranty, Dies At 67. New York Times, Dec. 15, 1969.) He was elected to the board of directors of General Motors in 1949. (Director, Controller of General Motors. New York Times, Sep. 13, 1949.) He was one of the "friends and admirers" of former Secretary of State Cordell Hull, a fellow native of Tennessee, and was a trustee of the educational foundation they set up in Hull's name (Study Fund Set Up As Tribute to Hull. New York Times, May 10, 1951.) His law partner, John W. Davis, and Thomas J. Watson were also trustees. (At First Meeting of Cordell Hull Foundation Trustees. New York Times, Dec. 13, 1951.) His daughter, Janet, married Christopher Thomas Hartford Pell, the son of Sen. Claiborne Pell, D-R.I. (Miss Janet Alexander Becomes Bride. New York Times, Jan. 10, 1971.)

Alexander married Janet Hutchinson in 1934. (Attendants Chosen by Janet Hutchinson. New York Times, Apr. 19, 1934; Janet Hutchinson Becomes Bride Here. New York Times, Apr. 28, 1934.) His father-in-law, Ely Champion Hutchinson, was chairman of a committee appointed by the American Society of Mechanical Engineers to study a report on air pollution in Kentucky by former ASME head F. Paul Anderson. (Engineer Unit Plans Air Pollution Study. New York Times, Oct. 30, 1931.) Anderson was engineer of tests for the Southern Railway Co. for 25 years, then Dean of the College of Engineering at the University of Kentucky since 1917. His father was superintendent of the Studebaker Brothers Manufacturing Co. at South Bend, Indiana. (F. Paul Anderson, Engineer, is Dead. New York Times, Apr. 9, 1934.)

William R. Cross Jr., Skull & Bones 1941

William R. Cross Jr. was a vice president of the New York Trust (Sally C. Smith, Vassar Alumna, Wed to Banker. New York Times Jun 15, 1958). He joined the Morgan Guaranty Trust in 1959, became executive vice president in 1973 and chairman of the credit policy committee in 1978. He retired in 1979. He was on the board of directors of The New York Times Company from 1973 to 1992, also on the boards of Amax Inc., National Sugar Refining Co., The Chapin School, Citizens Budget Commission, and The Children's Aid Society. (William R. Cross Jr., Retired Banker, 85. New York Times, Nov 26, 2002.) He was the son of W. Redmond Cross [William Redmond Cross, Skull & Bones 1896]. W. Redmond Cross and his father, Richard J. Cross, were partners of Morton, Rose & Co. of London, England, and of Morton, Bliss & Company at the time that it was reorganized into the Morton Trust Company, which subsequently merged with the Guaranty Trust. (Morton, Bliss & Co. Changes. New York Times, Jun 3, 1899) W. Redmond Cross was a vice president 1919-22 and the chairman of the United States Radium Corporation of New York from 1922 to 1930 [during the Radium Girls scandal - cast]. (Radium Concern Re-elects Roeder. New York Times, Jan 13, 1922.) (W. Redmond Cross. New York Times, Nov. 17, 1940; Bulletin of Yale University, Obituary Record of Graduates of Yale University Deceased during the Year 1940-1941 pp 69-70.) His nephew is Alan W. Cross M.D., S&B 1966, director of the Center for Health Promotion and Disease Prevention at the University of North Carolina-Chapel Hill.

Obituary Record 1940-1941 / Yale University Library (pdf, 290 pp)
William R. Cross Jr. / New York Times

John W. Cross, S&B 1900, an architect who designed buildings for the Guaranty Trust, was his brother. (John W. Cross, 73, Architect, Is Dead. New York Times, Jul. 26, 1951; Bulletin of Yale University, Obituary Record of Graduates of the Undergraduate Schools Deceased during the Year 1951-1952, p. 44.) Mrs. John W. Cross was a benefactor of the Memorial Cancer Center gift shop. (Plans Advanced for Thrift Shop. New York Times, Jan. 22, 1956.) Her first husband was Amasa S. Mather, Yale 1907, son of Samuel Mather. (Mrs. Amasa Mather Wed. New York Times, Jun. 4, 1932.) Her brother was Elton Hoyt 2d, a founder of W.A. Harriman & Co.

Obituary Record 1951-1952 / Yale University Library (pdf, 215 pp)

Charles D. Dickey, Yale 1916

Charles D. Dickey was the son of Charles D. Dickey, the senior partner of Brown Brothers & Co. (Mrs. Charles D. Dickey, Headed Nursery 40 Years. New York Times, May 31, 1962.) His wife was Catherine Colt, the sister of S. Sloan Colt. (Mrs. Charles D. Dickey. New York Times, May 18, 1973.) He was with Brown Brothers before World War I and again from 1919, and became a partner in 1922. He went to the Philadelphia branch in 1925, then resigned to become a partner of J.P. Morgan & Co., New York, and Drexel & Co., Philadelphia in 1932. His daughter was Mrs. George N. Lindsay. He was a director of General Electric, Kennecott Copper, Merck & Co., New York Life Insurance, Atlantic Refining, Panhandle Eastern Pipe Line and Beaver Coal. (Charles D. Dickey, 82, Banker, Dead. New York Times, Apr 29, 1976.) He was a trustee of the Yale Corporation [16 years] and a classmate of fellow trustee Morris Hadley, S&B 1916. (2 Trustees at Yale Retire. New York Times, Jul 30, 1962.) He was a director of the Morgan Guaranty Trust until 1963. In 1969, his son, Charles D. Dickey Jr., was elected a director of the Morgan Guaranty Trust. (Morgan Elects Director. New York Times, Nov 6, 1969.) Charles D. Dickey Jr.'s daughter, Catherine Sloan Dickey, was engaged to Mark Roosevelt, son of Kermit Roosevelt and great-grandson of Theodore Roosevelt. His father's firm, Kermit Roosevelt & Associates, were "international business consultants specializing in the Middle East." (Catherine S. Dickey Is Betrothed. New York Times, May 21, 1978.) His ancestors go back to a brother-in-law of Alexander Brown, the founder of Alexander Brown & Co. in Baltimore.

John T. Dorrance Jr.

John Thompson Dorrance Jr. was chairman of the Campbell Soup Co. from 1962 to 1984. He was also a director of the Penn Mutual Life Insurance Co. He was the son of Dr. John T. Dorrance, the inventor of canned condensed soup and the company's first president. (John T. Dorrance Jr. Dies at 70; Was Chairman of Campbell Soup. New York Times, Apr. 10, 1989.) Dorrance Jr. held 31.3% of Campbell stock. Nine surviving descendants of John T. Dorrance Sr. voted to disband the family's voting trust that held another 26.5% of the company's shares. (Campbell Soup Family Disbands Voting Trust. By Gregory A. Robb. New York Times, Dec. 19, 1989.) Dorrance was a $100,000 donor to the Republican Party in 1989. (Prodded by Lobbying Group, G.O.P. Reveals $100,000 Donors. By Richard L. Berke. New York Times, Jan. 24, 1989.) His father was a director of the Guaranty Trust during 1929-30, and Dorrance Jr. became a director in 1956.

John T. Dorrance Jr.'s sister, Elinor Dorrance Ingersoll, was a governor of the Society of the New York Hospital for 25 years. She was a director of the Campbell Soup Co. Her first husband, Nathaniel P. Hill, was a stockbroker. (Elinor D. Ingersoll, 68; Soup Co. Director. New York Times, Jan. 10, 1977; Campbell Soup Names a Director. New York Times, July 11, 1967.) Mrs. Nathaniel P. Hill was a fund-raiser for the American Heart Association (Heart Fund Ball to Be April 29. New York Times, Feb. 6, 1958), and the Memorial Center for Cancer and Allied Diseases (Patronesses Named for Fete Aiding Cancer Center Feb. 16. New York Times, Jan. 24, 1960.)

Lathrop Stanley Haskins

Lathrop Stanley Haskins married Barbara Ewing, a niece of James Ewing of the American Society for the Control of Cancer. (Barbara Ewing Engaged to Wed. New York Times, Mar. 7, 1932; Miss Ewing Makes Her Bridal Plans. New York Times, Apr. 16, 1932.) He was an investment officer at J.P Morgan & Co. (Morgan & Co. Announce Changes. New York Times, July 17, 1941), then a director of J.P. Morgan & Co. in 1948, and a senior vice president of the Morgan Guaranty Trust in 1965, and retired in 1969. He graduated from Harvard in 1926. (Lathrop S. Haskins. New York Times, Oct. 15, 1981.)

Lathrop S. Haskins / New York Times

Devereux C. Josephs

Devereux Colt Josephs was born in Middletown, RI., the family's summer home. His father's mother was a descendant of a brother of the inventor of the Colt revolver, and his grandfather was an attorney in Louisiana. After graduation from Harvard, he went to work at a Philadelphia investment firm, Graham, Parsons & Co. After serving in World War I, he married Margaret Thayer Graham, the daughter of the senior partner. After twenty years, he came to New York to head the finances of "a number of Carnegie philanthropies," and as vice president of the Teachers Insurance and Annuity Association, which was founded by the Carnegie Corporation. He became president of TIAA and the president of the Carnegie Corporation, and a director of the New York Life Insurance Company. He left the Carnegie conerns to be president of the New York Life in 1948. Devereux C. Josephs Jr. was with the Johns-Manville Corporation. (His Secret: Usefulness. New York Times, Dec. 21, 1960.) He was a director of the New York Life until 1972. He was also a director of the American Smelting Co., Consolidated Edison, the Abex Corporation and Smith, Kline & French. (Devereux C. Josephs, 83; Ex-Insurance Executive. New York Times, Jan. 5, 1977.)

Devereux Josephs, Junius A. Richards, and C.A. Herter, all 1915 Harvard graduates, were ushers at the wedding of Henry S. Sturgis, Harvard '16, to Gertrude Lovett, daughter of Dr. and Mrs. Robert W. Lovett. (Marriage Announcement 2. Boston Daily Globe, Jun. 20, 1916.) Richards was a director of Tobacco and Allied Stocks when it merged with Philip Morris in 1953. Herter's uncle was a student of William H. Welch, Skull & Bones 1870, and organizer of the Rockefeller Institute for Medical Research.

In 1946, Josephs was a sponsor of the New York Heart Association fund raising campaign. Other sponsors included Mrs. William Randolph Hearst, Sr.; Mrs. Albert D. Lasker; James S. Adams; Harold L. Bache, the nephew of Jules S. Bache; Leona Baumgartner; W.A. Harriman; Ralph T. Reed; Frank Stanton; and Thomas J. Watson Sr. Hugh Cullman and Emerson Foote were chairmen of Commerce and Industry committees. (Display Ad 46. New York Times, Jan. 31, 1946 p. 12.) Harriman and Watson had been directors of the Guaranty Trust during the years when that financial institution was funding Adolph Hitler's rise to power, and Watson's International Business Machines served the Reich throughout the war.

Devereux C. Josephs was president of the Carnegie Corporation of New York from 1945-48. He was a director of the Council on Foreign Relations from 1951-58.

By Carnegie President / Carnegie Corporation of New York
Historical Roster of Directors and Officers, 2004 / Council on Foreign Relations (pdf, 2pp)

In 1952, Josephs succeeded B. Brewster Jennings as drive chairman of the Greater New York Fund [now United Way of New York]. (J.P..Morgan President to Address Fund Group. New York Times, May 26, 1952.) Josephs was a trustee of the National Fund for Medical Education in 1954. Fellow trustees included Elmer Holmes Bobst, B. Brewster Jennings, Winthrop Rockefeller, Anna M. Rosenberg, and Thomas J. Ross (Letter, Howard Corning Jr. to Dr. C.C. Little, Aug. 16, 1954). Thomas J. Ross was later a trustee of Ernst Wynder's American Health Foundation.

Corning to Little, Aug. 16, 1954 / UCSF
National Fund for Medical Education / Washington Watchdog.org

Devereux C. Josephs, retired board chairman of the New York Life Insurance Company, an overseer since 1957, succeeded Roy E. Larsen, vice president of Time Inc., as president of the Harvard Board of Overseers. "Harvard's Board of Overseers. established in 1638, now consists of 30 graduates elected by the alumni. It is one of two governing boards, the other being the Harvard Corporation. The overseers visit and inspect all parts of the university and pass on major actions of the corporation. The university's president and treasurer are members of both boards." (D.C. Josephs Heads Harvard Board. New York Times, Oct. 13, 1959). Josephs was a native of Newport, R.I. and graduated from Harvard in 1915. The Harvard Corporation was established in 1650. (Board Elects Josephs Head of Overseers. Harvard Crimson, Oct. 13, 1959.)

Board Elects Josephs Head of Overseers, 1959 / The Harvard Crimson Online

In 1958, Josephs was a member of New York City Mayor Wagner's new Health Research Council. Other members included James S. Adams of Lazard Freres & Co.; Dr. Leona Baumgartner, Commissioner, Department of Health; Dr. Mervin J. Kelly, president of Bell Telephone Laboratories; Mrs. Mary Lasker, president of the Albert and Mary Lasker Foundation; Dr. Robert K. Merton, Professor of Sociology at Columbia University; Gerard Piel, publisher of Scientific American; Anna M. Rosenberg, public and industrial relations consultant, Anna M. Rosenberg Associates (who married Paul G. Hoffman a few years later); Dr. Warren Weaver, vice president of the Rockefeller Foundation; and Bethuel M. Webster, counsel to the Liggett & Myers Tobacco Company. (New City Research Agency To Finance Health Studies. By Peter Kihss. New York Times, Sep. 17, 1958 p. 1; Members of Health Council. New York Times, Sep. 17, 1958 p. 22.)

Josephs was a vice president of ETMA's (Educational Television for the Metropolitan Area) which purchased WNTA-TV in Newark, N.J. [which had been forced to an extraordinary degree by F.C.C. Commissioner Newton N. Minow]. ABC, NBC and CBS each contributed $500,000, WOR-TV and WNEW-TV $250,000 each, and the rest was funded by the Ford Foundation, Carnegie Foundation, Rockefeller Brothers Fund, the James Foundation, the New York Foundation and others. John D. Rockefeller 3d "play[ed] a prominent role, also Dr. George D. Stoddard, chancellor of New York University, and Arthur A. Houghton Jr., president of Steuben Glass. (Education Group to Get WNTA-TV. By Jack Gould. New York Times, June 30, 1961.) This became anti-smoker-infested WNET/13 in New York City.

New York Times, 1961 / Tedson.com

Josephs was honored by the New York Medical College for "contributing to medical education." He was chairman of the distribution committee of the National Fund for Medical Education. Others honored included Dr. George P. Berry, dean of Harvard Medical School; Dr. Walter L. Bierring, president of the medical honor society Alpha Omega Alpha; Dr. Detlev W. Bronk, president of the Rockefeller Institute; Dr. Lowell T. Coggeshall, dean of the Division of Biological Sciences and Dr. Frederick H. Rawson, Professor of Medicine, both at the University of Chicago; S. Sloan Colt, president of the National Fund for Medical Education; Dr. Ward Darley, executive director of the Association of American Medical Colleges; Dr. Lester J. Evans, director of the Center for Rehabilitation Services at New York University; Rep. John E. Fogarty and Sen. Lister Hill; Joseph C. Hinsey, director of the New York Hospital-Cornell Medical complex; Mrs. Albert D. Lasker; Dr. Willard C. Rappleye, president of the Josiah Macy Jr. Foundation; John M. Russell, vice president of the John and Mary R. Markle Foundation; Dr. Joseph T. Wearn, vice president for medical affairs at Western Reserve University; and Dr. German G. Weiskotten, member of the advisory board of the Howard Hughes Medical Center. (College to Fete 17 for Medical Roles. New York Times, Apr 14, 1960.)

Devereux C. Josephs Jr., Harvard 1947, married Gray Wells, the daughter of David Torrey Wells. Her godfather was George Emlen Roosevelt. (Chapel Nuptials for Gray Wells. New York Times, Nov. 22, 1953.) Her father and former W.A. Harriman vice president John Speed Elliott were the first outsiders admitted as partners of the firm of August Belmont & Co. (New Partners of Belmont & Co. New York Times, Jul. 15, 1928.) David Torrey Wells graduated from Cornell in 1904, and was secretary of the Cornell Club. (David T. Wells. New York Times, Oct. 10, 1942.) Her mother, Margaret Michie Wells, was described as the "housekeeper for Memorial" Hospital [an unusual occupation for the wife of a Belmont & Co. partner], where she died. (Mrs. David T. Wells. New York Times, Aug. 2, 1954.) Devereux C. Josephs Jr. was a Trustee of the Webb-Waring Lung Institute during 1984-87, and President in 1986. The institute had two members of the Order of Skull & Bones on its board of trustees: Alfred Cowles III, S&B 1913, an honorary trustee from at least 1969-76; and J. Quigg Newton, S&B 1933, who was the mayor of Denver and a vice president of the Ford Foundation.

Devereux Josephs Sr.'s brother, Hugh Wilson Josephs, was associated professor of pediatrics at John Hopkins University School of Medicine. He born in New Orleans and graduated from Harvard, and got his M.D. at J.H.U., where he remained until retiring in 1957. (Dr. Hugh Wilson Josephs, 88, Pediatrics Professor at Hopkins. Washington Post, Dec. 2, 1980.) His grandniece, the daughter of his brother, Lyman Colt Josephs of Allentown, Penn., married Edmund Billings Cabot, son of Thomas Dudley Cabot, the former head of the United Fruit Co. and chairman of the Cabot Corporation, who was the first head of the Department of State's Office of International Security Affairs. Her father was Dr. Willard E. Goodwin, professor of surgery at the University of California Los Angeles. (Miss Mary D. Goodwin Bride of Edmund Cabot. New York Times, June 8, 1970.) Lyman C. Josephs III was a design engineer of jet aircraft. He retired as corporate vice president in charge of productivity and quality assurance of the Convair division of General Dynamics during the scandal over workmanship on the Tomahawk missiles. (3 Promoted by Distributor. Washington Post, Feb. 7, 1965; Convair Chief Shifted to New Assignment. Los Angeles Times, Aug. 28, 1982.)

Mary Devereux Colt / Genealogy.com

Roderick M. MacDougall

MacDougall joined the bank after graduating from Harvard in 1951. He left as a vice president in 1967 to become executive vice president and president of the Marine Midland Bank in Rochester. "In 1974 he went to the Bank of New England as president and two years later became chief executive officer. He moved up to chairman in 1978. At his death, Mr. MacDougall was a director of several corporations, including the New England Mutual Life Insurance Company, the Controlled Risk Insurance Company, the Constitution Capital Management Company and the Bank of New England." He retired in 1984 and became treasurer of Harvard University. "At the university, he was a member of both the Harvard Corporation and the Board of Overseers. His duties included the chairmanships of the Harvard Management Company and the Corporation Committee on Shareholder Responsibility." (Roderick M. MacDougall, 62, Harvard Treasurer. By Glenn Fowler. New York Times, Nov. 18, 1988.)

Thomas L. Perkins

Thomas L. Perkins was senior partner of Perkins, Daniel, McCormack & Collins. He became a director of the Guaranty Trust in 1959. He was a son of lawyer William R. Perkins, who was "long counsel for the Duke power and tobacco interests. He was actively interested in the Duke power firms and in American Cyanamid Corp." (Deaths. New York Times, Jun 16, 1945; Lawyer Wills $300,000 to Two Universities. New York Times, Jun 20, 1945.) He was elected a director of American Cyanamid in 1951. (Succeeds to Presidency Of American Cyanamid. New York Times, Jan 8, 1951.) He was a director of Lorillard Tobacco Co. from 1955 to 1957. (Officer of Subsidiary Joins Lorillard Board. New York Times, Dec 5, 1957.) He was elected Chairman of American Cyanamid in 1958. (American Cyanamid Selects a Chairman. New York Times, Aug 21, 1958.) He became a director of the Pennsylvania Railroad in 1959, replacing its retired President, Walter S. Franklin. (Pennsylvania Railroad Adds Lawyer to Board. New York Times, May 28, 1959.) Perkins succeeded the late George G. Allen as chairman of the $430-million Duke Endowment. He had been a trustee of both the Endowment and of Duke University. Norman A. Cocke, the former Chairman of Duke Power Co. and the Duke University Board of Trustees, was named honorary chairman. Cocke was a director of J.P. Stevens & Co. (2 Named to Head Duke Endowment. New York Times, Nov 1, 1960.) Perkins was elected Chairman of Duke Power Co. in 1961. (Duke Power Company Elects New Chairman. New York Times, Apr 25, 1961.) In 1972, he was named to a six-member committee of outside businessmen to "help" the board of General Motors choose directors. (G.M. Sets Up a Committee To Help Name Directors. By Agis Salpukas. New York Times, Apr 14, 1972.) He was a director and member of the finance committee of American Cyanamid and a member of the executive committee of the Morgan Guaranty Trust and J.P. Morgan & Co. at his death; also a director and member of the finance committee of General Motors Corporation. He was a graduate of Phillips Academy, of which he was a trustee, and of the University of Virginia and its law school. He was born in Newport News. (Thomas Perkins, Lawyer, Dies; Corporations' Director Was 67. New York Times, Jun 22, 1973.)

Morgan Guaranty Trust Company, 1963

Henry C. Alexander, Chairman of the Board; Thomas S. Gates, President; J. Paul Austin, President of Coca-Cola; Stephen D. Bechtel, President, Bechtel Corporation; William C. Bolenius, Executive Vice President, American Telephone and Telegraph Company; Carter L. Burgess, Chairman of American Machine & Foundry Co.; Paul C. Cabot, Chairman of the Board, State Street Investment Corporation; John L. Collyer, Chairman of the Executive Committee, B.F. Goodrich Company; Charles D. Dickey, Chairman, Committee on Trust Matters; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Carl J. Gilbert, Chairman of The Gillette Co.; Devereux C. Josephs, director of the New York Life Insurance Co.; Thomas S. Lamont, Vice Chairman of the Board; L.F. McCollum, President, Continental Oil Company; Howard J. Morgens, President of The Procter & Gamble Co.; Robert D. Murphy, President of Corning Glass International; Thomas L. Perkins, Chairman of the Duke Endowment; M.J. Rathbone, President of Standard Oil of New Jersey; Dale E. Sharp, Vice Chairman; Robert T. Stevens, Chairman and President of J.P. Stevens & Co.; James M. Symes, Chairman of the Board, the Pennsylvania Railroad Company; Henry S. Wingate, President, the International Nickel Company of Canada, Ltd.; George S. Young, President, The Columbia Gas System, Inc. (Display Ad 26. New York Times, Jan. 8, 1963.)

Charles D. Dickey, Arthur A. Houghton, and Devereux C. Josephs were also directors of the New York Life, of which Paul G. Hoffman, Frank Stanton, and Robert A. Lovett (S&B 1918) of Brown Brothers Harriman were directors. J.P Stevens & Co. and Commonwealth Edison also had directors on the New York Life. (Display Ad 46. New York Times, Mar 9, 1964.)

Robert E. Strawbridge 3d, the son of Robert E. Strawbridge Jr. of the board of managers of Memorial Sloan Kettering Cancer Center and husband of the daughter of Memorial Hospital head and Liggett & Myers tobacco director Ogden White, was "with the Morgan Guaranty Trust Company of New York." (Alexandra White and a Bank Aide Marry in Jersey. New York Times, Jun. 28, 1964.)

Carter L. Burgess

Carter Lane Burgess was born in Roanoke, Va. in 1916 and graduated from Virginia Military Institute. (Carter Burgess, Ex-Executive And Envoy, 85. By Eric Pace. New York Times, Aug. 21, 2002.) He was the son of Joseph Hilleary Burgess, and married May Gardner Smith in 1941. (Social Affairs. Portsmouth [Ohio] Times, Nov. 7 and 14, 1941.) Burgess was also a director of the Ford Motor Company and the Smith-Kline Corporation. He was chairman of the Foreign Policy Association, and elected chief executive officer in 1974. (Foreign Policy Association Elects a New Chief Officer. New York Times, Oct. 21, 1974.) Mrs. Carter L. Burgess was a daughter of Robert Hall Smith, president of the Norfolk & Western Railroad. Smith's sister, Nan Smith, was Mrs. Stanhope Bayne-Jones [Skull & Bones 1910, who spearheaded the government attack on the tobacco industry]. (Former N&W Head Succombs At 72. AP. Raleigh Register [Beckley, WV], June 20, 1960; Jane H. Burgess Becomes Bride of J.L. Wiley Jr. New York Times, Aug. 25, 1962.) Joseph H. Burgess Jr. became vice president of personnel at the National Biscuit Company [later acquired by R.J. Reynolds]. He joined Nabisco in 1947 as director of labor relations. (National Biscuit Names New Personnel Officer. New York Times, Sep. 11, 1962.)

Morgan Guaranty Trust Company, 1965

Henry C. Alexander, Chairman of the Board; Thomas S. Gates, President; J. Paul Austin, President of Coca-Cola; Stephen D. Bechtel, Chairman, Bechtel Corporation; William C. Bolenius, Retired Vice Chairman of the American Telephone and Telegraph Company; R. Manning Brown Jr., Executive Vice President of the New York Life Insurance Co.; Carter L. Burgess, Chairman, American Machine & Foundry Co.; Paul C. Cabot, Chairman of the Board, State Street Investment Corporation; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Carl J. Gilbert, Chairman of The Gillette Co.; Crawford H. Greenewalt, Chairman of E.I. du Pont de Nemours & Co.; Longstreet Hinton, Executive Vice President; Donald P. Kircher, President of the Singer Co.; Thomas S. Lamont; L.F. McCollum, Chairman, Continental Oil Company; John M. Meyer Jr., Executive Vice President; Howard J. Morgens, President of The Procter & Gamble Co.; Thomas L. Perkins, Chairman of the Duke Endowment; M.J. Rathbone, Chairman of Standard Oil of New Jersey; Dale E. Sharp, Vice Chairman; Robert T. Stevens, President of J.P. Stevens & Co.; James M. Symes, Chairman of the Executive Committee of the Pennsylvania Railroad Company; Henry S. Wingate, Chairman of the International Nickel Company of Canada, Ltd.; George S. Young, Chairman of the Executive Committee of The Columbia Gas System, Inc. (Display Ad 105. New York Times, Jan 11, 1965.)

Morgan Guaranty Trust Company, 1967

Thomas S. Gates, Chairman of the Board; John M. Meyer Jr., President; Henry C. Alexander, Chairman of the Executive Committee; J. Paul Austin, President of Coca-Cola; Stephen D. Bechtel, Senior Director, Bechtel Corporation; William C. Bolenius; R. Manning Brown Jr., Executive Vice President of the New York Life Insurance Co.; Carter L. Burgess, Chairman, American Machine & Foundry Co.; Paul C. Cabot, Chairman of the Board, State Street Investment Corporation; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Carl J. Gilbert, Chairman of the Executive Committee, The Gillette Co.; Crawford H. Greenewalt, Chairman of E.I. du Pont de Nemours & Co.; Longstreet Hinton, Chairman, Committee on Trust Matters; Donald P. Kircher, President of the Singer Co.; Thomas S. Lamont; Edmund F. Martin, Chairman of Bethlehem Steel Corp.; L.F. McCollum, Chairman, Continental Oil Company; Howard J. Morgens, President of The Procter & Gamble Co.; Ellmore C. Patterson, Vice Chairman of the Board; Thomas L. Perkins, Chairman of the Duke Endowment; M.J. Rathbone, Retired Chairman of Standard Oil of New Jersey; Dale E. Sharp, Vice Chairman; Robert T. Stevens, President of J.P. Stevens & Co.; Henry S. Wingate, Chairman of the International Nickel Company of Canada, Ltd.; George S. Young, Chairman of the Executive Committee of The Columbia Gas System, Inc. (Display Ad 331. New York Times, Jan 12, 1967.)

Ellmore Clark Patterson

Ellmore Patterson Jr. was from Western Springs, Ill. He graduated from the University of Chicago in 1935. (Anne Hyde Choate to Become A Bride. New York Times, Jun. 17, 1940.) He married a grandniece of Joseph H. Choate, one-time US Ambassador to Great Britain. Keith Funstan was an usher. (Anne H. Choate Becomes Bride. New York Times, Sep. 29, 1940.) Patterson was elected a trustee of the Carnegie Endowment for International Peace. He was an assistant vice president at J.P. Morgan & Co. (Trustees Elected By Carnegie Group. New York Times, May 13, 1951.) He was a director of the United Fund that was formed from the merger of the Greater New York Fund with the American Red Cross. (Major Fund Drives Will Combine Here. By Peter Kihss. New York Times, Nov. 27, 1968.) He was a trustee of the Sloan-Kettering Cancer Institute from 1954 to 1968 (Report of the Sloan-Kettering Institute for Cancer Research, 1968, pp. 36-37), with which several generations of the Choate family had been involved.

Report of the Sloan-Kettering Institute for Cancer Research, 1968 / UCSF

Morgan Guaranty Trust Company, 1969

John M. Meyer Jr., Chairman of the Board; Ellmore C. Patterson, President; Henry C. Alexander; J. Paul Austin, President of Coca-Cola; R. Manning Brown Jr., Executive Vice President of the New York Life Insurance Co.; Frank T. Cary, Senior Vice President of International Business Machines Corp.; W. Graham Clayton Jr., President of the Southern Railway System; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Thomas S. Gates, Chairman of the Executive Committee; Carl J. Gilbert, Chairman of the Executive Committee, The Gillette Co.; Crawford H. Greenewalt, Chairman of the Finance Committee, E.I. du Pont de Nemours & Co.; Longstreet Hinton, Chairman, Committee on Trust Matters; Donald P. Kircher, President of the Singer Co.; Ralph F. Leach, Vice Chairman of the Board; Edmund F. Martin, Chairman of Bethlehem Steel Corp.; L.F. McCollum, Chairman, Continental Oil Company; Howard J. Morgens, President of The Procter & Gamble Co.; Walter H. Page, Vice Chairman of the Board; Thomas L. Perkins, Chairman of the Duke Endowment; M.J. Rathbone, Retired Chairman of Standard Oil of New Jersey; Dale E. Sharp; Olcott D. Smith, Chairman of Aetna Life and Casualty Insurance Companies; Robert T. Stevens, President of J.P. Stevens & Co.; Henry S. Wingate, Chairman of the International Nickel Company of Canada, Ltd.; George S. Young, Chairman of the Executive Committee of The Columbia Gas System, Inc. (Display Ad 106. New York Times, Jan 8, 1969.)

Frank T. Cary

Cary was a director of the Morgan Guaranty Trust from 1969 until at least 1978. In 1993, after the release of the "EPA" Report on secondhand smoke, ABC News conspired to brainwash Americans with lies about secondhand smoke and the tobacco industry in such a crude and heavy-handed manner, reminiscent of a Nazi dictatorship, that no intelligent person should have failed to be outraged. Frank T. Cary had been a director of Capital Cities / ABC since 1986.

Walter H. Page

Walter H. Page joined J.P. Morgan & Co. immediately after graduating from Harvard in 1937. He was assistant treasurer in 1948 and vice president in 1953, then a senior vice president of the Morgan Guaranty Trust in 1964 and vice chairman in 1968. In 1969, the holding company J.P Morgan was formed to acquire the Morgan Guaranty Trust, and he became vice chairman of that as well. "In the 1970s, Mr. Page helped create the plan that led to the formation of the Saudi International Bank. 'The relationship between Morgan and the Saudi central bank was considered a great coup for the Morgan firm,'" according to the company historian. He became president of both companies in 1971 and chairman in 1978, and retired in 1979. (Walter H. Page, 83, Chairman of J.P. Morgan in the 1970's. New York Times, Jan. 18, 1999.) He was also a director of Kennecott Copper Co. and Air Liquide Inc., and vice chairman of the Laboratory for Quantitative Biology. (Morgan Guaranty Trust Elects Vice President. New York Times, Sep. 2, 1965.) The Bio Lab and the Carnegie Institution of Washington's Department of Genetics were adjacent to each other and had operated side by side since 1904. They merged in 1963 to become the Cold Spring Harbor Laboratory for Quantitative Biology. (The CSH Symposium on Quantitative Biology. By Nathaniel C. Comfort. Cold Spring Harbor Laboratory, accessed 08-26-07.) Page was also a Trustee of the Carnegie Institution of Washington from 1971 to 1979. (Year Book 98/99. Carnegie Institution of Washington.)

Year Book 98/99 / Carnegie Institution of Washington (pdf, 8 pp)

"As a youth, Walter learned from his father about the Biological Laboratory, which had been established in 1890 through gifts from Long Island's then preeminent family, the Joneses. Sited next to the Laboratory, along Cold Spring Harbor's inner harbor, were the turn of the century buildings of the Department of Genetics of the Carnegie Institute of Washington. The Department's mission was to broadly extend the applicability of the then newly rediscovered Mendelian laws of heredity. While the Department of Genetics labs had stable financial backing from the Institute, the Biological Laboratory was habitually underfunded and periodically faced extinction. Enlightened philanthropy from the owners of nearby Gold Coast estates came to the rescue in 1924 with the formation of the Long Island Biological Association (LIBA). The association's purpose was not only to keep the Biological Laboratory alive, but to expand its activities to include research as well as teaching." His father, Arthur Wilson Page, was the first treasurer of LIBA, and became its president in 1928. "Walter's life was also closely associated with the Cold Spring Harbor Laboratory. Beginning in 1957, he was president of its parent body, the Long Island Biological Association, and starting in 1963, he served several long intervals on its Board of Trustees. Following his retirement from J.P. Morgan, he was for six years (1980-1986) our very able chairman." (Walter Hines Page II. By James D. Watson. 1998 Annual Report, Cold Spring Harbor Laboratory.) He was an honorary trustee of the Cold Spring Harbor Laboratory in 1994. (Harbor Transcript, Summer 1994, p. 14.) Cold Spring Harbor hosted the Banbury Center Meeting, Oct. 22, 1979, from which came the "Banbury Report 3 - A Safe Cigarette?" The chief instigators and would-be beneficiaries of the project were the chemical carcinogenesis gang from the National Cancer Institute.

Walter Hines Page II, 1998 Annual Report / Cold Spring Harbor Laboratory
Harbor Transcript, Summer 1994 / UCSF

Page married Jane Nichols, the daughter of George Nichols, and a granddaughter of J.P. Morgan Jr. through his daughter, Jane. (Miss Jane Nichols Becomes Engaged. New York Times, Nov. 3, 1941.) Page's father, Arthur W. Page, was a vice president of American Telephone & Telegraph and his uncle, Frank C. Page, was a vice president of International Telephone & Telegraph during the Second World War. (Mrs. Walter H. Page, Widow of Envoy, Dies. New York Times, Feb. 8, 1942.) His aunt, Katherine Page, was a bridesmaid at the wedding of Belle Willard to Kermit Roosevelt. (In Roosevelt's Party. Boston Daily Globe, May 30, 1914.) His brother, Arthur W. Page Jr., married Anita Peabody Hadden, the granddaughter of Charles A. Peabody of the Mutual Life Insurance Company and the Guaranty Trust. (Nuptials Are Held for Anita Hadden. New York Times, Oct. 24, 1948; Miss Peabody A Bride. New York Times, Oct. 19, 1913.) His grandfather, Walter Hines Page (1855-1918), was a founder and member of the Hygiene Reference Board of the Life Extension Institute, which was founded in the boardroom of the old Guaranty Trust in 1913.

Morgan Guaranty Trust Company, 1971

John M. Meyer Jr., Chairman of the Board; Ellmore C. Patterson, President; J. Paul Austin, Chairman and President of Coca-Cola; R. Manning Brown Jr., President of the New York Life Insurance Co.; Carter L. Burgess, Chairman of the National Corporation for Housing Partnerships; Frank T. Cary, Senior Vice President of International Business Machines Corp.; W. Graham Clayton Jr., President of the Southern Railway System; Emilio G. Collado, Executive Vice President, Exxon Corp.; Charles D. Dickey Jr., President of the Scott Paper Co.; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Thomas S. Gates, Chairman of the Executive Committee; Crawford H. Greenewalt, Chairman of the Finance Committee, E.I. du Pont de Nemours & Co.; Longstreet Hinton, Chairman, Committee on Trust Matters; Donald P. Kircher, President of the Singer Co.; Ralph F. Leach, Vice Chairman of the Board; Edmund F. Martin, Retired Chairman of Bethlehem Steel Corp.; L.F. McCollum, Chairman, Continental Oil Company; Howard J. Morgens, President of The Procter & Gamble Co.; Walter H. Page, Vice Chairman of the Board; Thomas L. Perkins, Chairman of the Duke Endowment; Thomas Rodd, Executive Vice President; Dale E. Sharp; Olcott D. Smith, Chairman of Aetna Life and Casualty Insurance Companies; Henry S. Wingate, Chairman of the International Nickel Company of Canada, Ltd. (Display Ad 46. New York Times, Jan 20, 1971.)

General Motors set up a new committee to nominate directors. Eugene N. Beesley, Chairman of Eli Lilly & Co., was chairman, and the other members were Lloyd D. Brace, former Chairman of the First National Bank of Boston; John T. Connor, chairman of the Allied Chemical Corporation; John A. Mayer, Chairman of the Mellon National Bank and Trust Co.; and Howard J. Morgens, Chairman of Procter & Gamble and Thomas L. Perkins, Chairman of the Duke Endowments. (G.M. Sets Up a Committee To Help Name Directors. By Agis Salpukas. New York Times, Apr 14, 1972.)

Morgan Guaranty Trust Company, 1973

Ellmore C. Patterson, Chairman of the Board; Walter H. Page, President; J. Paul Austin, Chairman of Coca-Cola; R. Manning Brown Jr., Chairman of the New York Life Insurance Co.; Carter L. Burgess, Chairman, Flagship International Inc.; Frank T. Cary, Chairman and President of International Business Machines Corp.; W. Graham Clayton Jr., President of the Southern Railway System; Emilio G. Collado, Executive Vice President of Exxon Corp.; Charles D. Dickey Jr., Chairman of the Scott Paper Co.; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Lewis W. Foy, President of Bethlehem Steel Corp.; Thomas S. Gates; Howard W. Johnson, Chairman of the Corporation of Massachusetts Institute of Technology; Donald P. Kircher, President of the Singer Co.; Ralph F. Leach, Chairman of the Executive Committee; John M. Meyer Jr.; Howard J. Morgens, Chairman of the Board of The Procter & Gamble Co.; DeWitt Peterkin Jr., Vice Chairman of the Board; Donald E. Procknow, President of the Western Electric Co. Inc.; Thomas Rodd, Vice Chairman of the Board; Olcott D. Smith, Chairman of the Executive Committee, Aetna Life and Casualty Co.; Henry S. Wingate, director and Chairman of the Advisory Committee, International Nickel Company of Canada, Ltd. (Display Ad 107. New York Times, July 11, 1973.)

Morgan Guaranty Trust Company, 1975

Ellmore C. Patterson, Chairman of the Board; Walter H. Page, President; J. Paul Austin, Chairman of Coca-Cola; R. Manning Brown Jr., Chairman of the New York Life Insurance Co.; Carter L. Burgess, Chairman, Foreign Policy Association; Frank T. Cary, Chairman of International Business Machines Corp.; W. Graham Clayton Jr., Chairman and CEO of the Southern Railway System; Emilio G. Collado, former executive vice president and director of Exxon Corp.; Charles D. Dickey Jr., Chairman and President of the Scott Paper Co.; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Walter A. Fallon, President of Eastman Kodak Co.; Lewis W. Foy, Chairman of Bethlehem Steel Corp.; Howard W. Johnson, Chairman of the Corporation of Massachusetts Institute of Technology; Ralph F. Leach, Chairman of the Executive Committee; John M. Meyer Jr.; Howard J. Morgens, Chairman of the Executive Committee of The Procter & Gamble Co.; DeWitt Peterkin Jr., Vice Chairman of the Board; Lewis T. Preston, Vice Chairman of the Board; Donald E. Procknow, President of the Western Electric Co. Inc.; Thomas Rodd, Vice Chairman of the Board; John P. Schroeder, Vice Chairman of the Board; Warren M Shapleigh, President of the Ralston Purina Co.; George P. Shultz, President of Bechtel Corp.; Olcott D. Smith, Chairman of the Executive Committee, Aetna Life and Casualty Co. (Display Ad 173. New York Times, July 15, 1976.) Shultz was a trustee of the National Opinion Research Center (NORC) in 1964.

Morgan Guaranty Trust Company, 1977

Ellmore C. Patterson, Chairman of the Board; Walter H. Page, President; Ray C. Adam, Chairman and President, NL Industries Inc.; J. Paul Austin, Chairman of Coca-Cola; R. Manning Brown Jr., Chairman of the New York Life Insurance Co.; Carter L. Burgess, Chairman, Foreign Policy Association; Frank T. Cary, Chairman of International Business Machines Corp.; Emilio G. Collado, former executive vice president and director of Exxon Corp.; Charles D. Dickey Jr., Chairman and President of the Scott Paper Co.; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Walter A. Fallon, Chairman of Eastman Kodak Co.; Lewis W. Foy, Chairman of Bethlehem Steel Corp.; Hanna H. Gray, Provost of Yale University; Alan Greenspan, President of Townsend-Greenspan Co. Inc.; Howard W. Johnson, Chairman of the Corporation of Massachusetts Institute of Technology; Ralph F. Leach, Chairman of the Executive Committee; Howard J. Morgens, Chairman Emeritus of The Procter & Gamble Co.; Lewis T. Preston, Vice Chairman of the Board; Donald E. Procknow, President of the Western Electric Co. Inc.; John P. Schroeder, Vice Chairman of the Board; Warren M. Shapleigh, President of the Ralston Purina Co.; George P. Shultz, President of Bechtel Corp. (Display Ad 211. New York Times, July 19, 1977.) [Hanna Holborn Gray was a director of Cummins Engine Co. from 1977 to 2001.]

Morgan Guaranty Trust Company, 1978

Walter H. Page, Chairman of the Board; Lewis T. Preston, President; Ray C. Adam, Chairman and President, NL Industries Inc.; J. Paul Austin, Chairman of Coca-Cola; R. Manning Brown Jr., Chairman of the New York Life Insurance Co.; Carter L. Burgess, Chairman, Foreign Policy Association; Frank T. Cary, Chairman of International Business Machines Corp.; Emilio G. Collado, President Adela Investment Co. S.A.; Charles D. Dickey Jr., Chairman and President of the Scott Paper Co.; John T. Dorrance Jr., Chairman of the Campbell Soup Company; Walter A. Fallon, Chairman of Eastman Kodak Co.; Lewis W. Foy, Chairman of Bethlehem Steel Corp.; Hanna H. Gray, President of the University of Chicago; Alan Greenspan, President of Townsend-Greenspan Co. Inc.; Howard W. Johnson, Chairman of the Corporation of Massachusetts Institute of Technology; James L. Ketelsen, Chairman & CEO of Tenneco Inc.; Howard J. Morgens, Chairman Emeritus of The Procter & Gamble Co.; Ellmore C. Patterson, Chairman of the Executive Committee; Donald E. Procknow, President of the Western Electric Co. Inc.; John P. Schroeder, Vice Chairman of the Board; Warren M. Shapleigh, President of the Ralston Purina Co.; George P. Shultz, President of Bechtel Corp. (Display Ad 164. New York Times, July 18, 1978.)

Morgan Guaranty Trust Company, 1980s

John Withrow Cooley, Yale, was a vice president of the Morgan Guaranty Trust Co. (Maggie Ferdon Wed to John W. Cooley. New York Times, Jan. 3, 1988.) His brother, Peter Alexander Cooley, Yale, was also with the Morgan Guaranty Trust. Their father, Samuel P. Cooley, was executive vice president and chief credit officer of the Connecticut National Bank in Hartford. (Allene R. Smith Becomes Bride. New York Times, Aug. 13, 1989.) Their grandfather, Charles Parsons Cooley, Yale 1891, was a brother of Francis R. Cooley, Scroll & Key 1886, was director of the Life Extension Institute, which was founded in the boardroom of the Guaranty Trust Company in 1913.

Douglas A. Warner 3d, Yale 1968, was named president in 1990, and chairman at the end of 1994, when Dennis Weatherstone retired. Michael E. Patterson [son of Ellmore C. Patterson] formerly general counsel, was named chief administrative officer; and Edward J. Kelly 3d, a partner of Davis Polk & Wardwell, succeeded him as general counsel. (At J.P. Morgan, Orderly Change At the Top. New York Times, Sep. 16, 1994.)

J.P. Morgan & Co. Inc., 1997

Directors: Douglas A. Warner III, Chairman of the Board, President and Director (Principal Executive Officer); Paul A. Allaire; Riley P. Bechtel; Martin Feldstein; Ellen V. Futter; Hanna H. Gray; James R. Houghton; James L. Ketelsen; John A. Krol; Roberto G. Mendoza, vice chairman of the board; Michael E. Patterson, vice chairman of the board; Lee R. Raymond; Richard D. Simmons; Kurt F. Viermitz, vice chairman of the board; Dennis Weatherstone, retired chairman of the board; Douglas C. Yearly. Chief financial officer - John A. Mayer; Managing director and Controller - David H. Sidwell; Vice President and Assistant General Counsel: Gene A. Capello.

J.P. Morgan & Co. Inc. Oct. 24, 1997 Form S-3 / Securities and Exchange Commission

Ellen V. Futter

Ellen Victoria Futter, daughter of Victor Futter, married John Arthur Shutkin. Both were students at Columbia Law School. She graduated magna cum laude from Barnard College in 1971, where she was the youngest trustee, and planned to join Milbank, Tweed, Hadley & McCloy. He was the son of Dr. Ned M. Shutkin, former head of the orthopedic section at Yale Medical School, and Marjorie Fleischmann Shutkin. He graduated from Harvard in 1971. (Ellen V. Futter, John A. Shutkin Plan Marriage. New York Times, Mar. 24, 1974; Ellen V. Futter, John A. Shutkin, Lawyers, Marry. New York Times, Aug. 26, 1974.) She was appointed acting president of Barnard College in 1980. "Her father, Victor Futter, a vice president and secretary of the Allied Chemical Corporation, has long been active in Columbia affairs as president of its alumni association" and in fund-raising. (Barnard Head Is 'a Problem-Solver.' By Dena Kleiman. New York Times, Jul. 13, 1980.) She attended the University of Wisconsin before transferring to Barnard. (Acting Head Chosen By Barnard Trustees For Post of President. By Edward B. Fiske. New York Times, May 7, 1981.) Victor Futter was an officer of Nova Pharmaceuticals in 1989. (Insider Transactions. Washington Post, Oct. 2, 1989.) Her sister, Deborah Gail Futter, married William David Cohan, an associate at Lazard Freres. His mother was an administrator at the University of Massachusetts Medical Center. (Ms. Futter Weds William D. Cohan. New York Times, June 16, 1991.) Ellen V. Futter left Barnard in 1993. She was chosen to be president of the American Museum of Natural History; William T. Golden was chairman, and David A. Hamburg was head of the search committee. (Barnard's President To Head Museum Of Natural History. By William H. Honan. New York Times, Jun. 29, 1993.) She was a director of Bristol Myers Squibb since 1990, in 1994 also a director of Consolidated Edison Company of New York, CBS Inc., The American Ditchley Foundation, a trustee of Barnard College, and a member of the CFR. Fellow directors of Bristol-Myers included Louis V. Gerstner Jr., director and former Chairman and CEO of RJR Nabisco Holdings; James D. Robinson III and chairman/CEO Richard L. Gelb, who were both on the Board of Managers and Board of Overseers of Memorial Sloan-Kettering Cancer Center; and former DHHS Secretar Louis Sullivan. (Bristol Myers Squibb 1994 DEF 14A.) She retired from its board at the end of 2005. President of the American Museum of Natural History since 1993. President of Barnard College from 1981 to 1993. She was also a director of American International Group, Inc., Consolidated Edison, Inc., NYC and Company, and Memorial Sloan-Kettering Cancer Center, and a Member of the Advisory Board of Yale School of Management. Gerstner, Robinson and Sullivan remain.

Bristol Myers Squibb 1994 DEF 14A / Securities and Exchange Commission
Bristol Myers Squibb 2005 DEF 14A / Securities and Exchange Commission

James R. Houghton, Harvard 1958

James Richardson Houghton is the son of Amory Houghton, former Ambassador to France. He graduated from Harvard in 1958, and from the Harvard Graduate School of Business in 1962. His wife is the granddaughter of Mr. and Mrs. Delancey Kane Jay, and a descendant of the first Chief Justice, John Jay, and of John Jacob Astor. His brother, Amory Houghton Jr., was best man, and the ushers were brother Alanson B. Houghton 2d, Gerald Church, Robert L. Montgomery, Edward P. Harding, David S. Lee, Lawrence Coolidge, John Geary, John H. Finley, Harold Fitzgibbons Jr., and Herbert S. Hall Jr. Houghton was with the Corning company in Danville, Ky. (May Tuckerman Kinnicutt Is Bride. New York Times, Jul. 1, 1962.) Mrs. Houghton's great-gandfather, Dr. Francis P. Kinnicutt, Harvard 1868, was one of the founders of the Memorial Cancer Hospital. James R. Houghton was an usher at Finley's wedding in 1969. In 1980, he was a member of the executive committee of CBS. (Backe's Dismissal at CBS Followed a Long Dispute. New York Times, May 15, 1980), and a member of the CBS board in 1986 (Gambling on CBS. New York Times, Jul. 3, 1986.)

Houghton "became a vice president of Corning and general manager of the Consumer Products Division in 1968, a director in 1969, vice chairman in 1971, chairman of the executive committee and chief strategic officer in 1980 and chairman and chief executive officer in April 1983." He was a director of Dow Corning Corporation, Metropolitan Life Insurance Company [until at least 2008], J. P. Morgan & Co. and Exxon Corporation. (Director bio, Corning Inc. 1995.) He retired as Chairman in 2007. He was a member of the Harvard Corporation [since at least 1999], a trustee of the Pierpont Morgan Library, and a director of Exxon Mobil Corp. (Director bio, Corning Inc. 2009.) (Director bio, Corning Inc., 2009.) He retired from the board of Corning in 2010.

Corning Inc. 1995 DEF 14A / Securities and Exchange Commission
Corning Inc. 2009 DEF 14A / Securities and Exchange Commission

J.P. Morgan & Co. Inc., 1998

Directors: Douglas A. Warner III, Chairman of the Board, President and Director (Principal Executive Officer); Paul A. Allaire; Riley P. Bechtel; Lawrence A. Bossidy; Martin Feldstein; Ellen V. Futter; Hanna H. Gray; Walter A. Gubert, vice chairman of the board; James R. Houghton; James L. Ketelsen; John A. Krol; Roberto G. Mendoza, vice chairman of the board; Michael E. Patterson, vice chairman of the board; Lee R. Raymond; Richard D. Simmons; Kurt F. Viermitz; Douglas C. Yearly. Chief financial officer - John A. Mayer; Managing director and Controller - David H. Sidwell; Vice President and Assistant General Counsel: Gene A. Capello.

J.P. Morgan & Co. POS AM Jun. 4, 1998 / Securities and Exchange Commission

J.P. Morgan Chase & Co. Inc., 2001

"In 1991, Manufacturers Hanover Corporation merged into Chemical Banking Corporation. In 1996, The Chase Manhattan Corporation merged into Chemical Banking Corporation, which changed its name to The Chase Manhattan Corporation. On December 31, 2000, J.P. Morgan & Co. Incorporated merged (the Merger) into The Chase Manhattan Corporation, which changed its name to J.P. Morgan Chase & Co. In the following biographies, each of these merged companies is referred to as a predecessor institution of the Firm."

Directors: Douglas A. Warner III, Chairman and Director (Principal Executive Officer); William B. Harrison, Jr., President, Chief Executive Officer and Director; Hans W. Becherer; Riley P. Bechtel; Frank A. Bennack, Jr.; Lawrence A. Bossidy; M. Anthony Burns; H. Laurence Fuller; Ellen V. Futter; William H. Gray III; Helene L. Kaplan; Lee R. Raymond; John R. Stafford; Lloyd D. Ward; Marina V. N. Whitman.Vice Chairman Finance and Risk Management (Principal Financial Officer) - Marc J. Shapiro; Executive Vice President and Controller - Joseph L. Sclafani. Secretary - Anthony J. Horan.

J.P. Morgan Chase & Co. S-3 / A May 9, 2001 / Securities and Exchange Commission
J.P. Morgan Chase & Co. 2002 DEF 14A / Securities and Exchange Commission

John H. Biggs, Former Chairman and Chief Executive Officer of Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF) (national teachers’ pension fund) since November 2002, was Chairman and Chief Executive Officer from 1993 until 2002. He joined the board in March 2003.

Helene L. Kaplan has been Of Counsel to the firm of Skadden, Arps, Slate, Meagher & Flom LLP (law firm) since 1990. She is also a director of Exxon Mobil Corporation, The May Department Stores Company, MetLife Inc., and Verizon Communications Inc. She has been a director of the Firm or a predecessor institution since 1987.

J.P. Morgan Chase & Co. 2003 DEF 14A / Securities and Exchange Commission

William H. Gray, III, was President and Chief Executive Officer of The College Fund/UNCF (educational assistance) from 1991 until he retired from those positions in March 2004. He was a member of the United States House of Representatives from 1979 to 1991. Mr. Gray is also a director of Dell Computer Corporation, Pfizer Inc., Prudential Financial, Inc. and Visteon Corporation. He has been a director of the Firm or a predecessor institution since 1992.

William C. Weldon has been with Johnson and Johnson since 1971, was Worldwide Chairman of its Pharmaceuticals Group 1998-2001, Vice Chairman 2001-2002, and Chairman and Chief Executive Officer since 2002. He has been a director of JPMorgan Chase since March 2005.

J.P. Morgan Chase & Co. 2005 DEF 14A / Securities and Exchange Commission

James Dimon is a former senior executive of Citigroup, its subsidiary, Salomon Smith Barney, and its predecessor company, Travelers Group, Inc. He was Chairman and CEO of Bank One from 2000 until its merger with JPMorgan Chase in 2004. He became President and COO of JPMorgan Chase in 2004, and chief Executive Officer on the last day of 2005. He is a director of The National Center on Addiction and Substance Abuse [CASA, at Columbia University], the University of Chicago, and Harvard Business School, and is on the Board of Trustees of New York University School of Medicine. In 2006 he was a director of the Federal Reserve Bank of New York.

William B. Harrison, Jr. was Vice Chairman, President and CEO of Chase from 1991 until its merger with J.P. Morgan & Co. He became Chairman and CEO of JPMorgan Chase in 2001, and just Chairman in 2005. He is also a director of Merck & Co., Inc. He is a member of the Board of Overseers and Managers of Memorial Sloan-Kettering Cancer Center and of the Board of Directors of North Carolina Outward Bound and the Committee to Encourage Corporate Philanthropy.

Lee R. Raymond joined Exxon in 1963, and was Chairman and CEO from 1993 until it merged with Mobil in 1999, and Chairman and CEO of Exxon Mobil until 2005. He graduated from the University of Wisconsin in 1960 and is a trustee of the Wisconsin Alumni Research Foundation, and a member of the Innovations in Medicine Leadership Council of UT Southwestern Medical Center. He has been a director of J.P. Morgan & Co. and JPMorgan Chase since 1987. In 2008, he was a trustee of the Mayo Clinic.

J.P. Morgan Chase & Co. 2006 DEF 14A / Securities and Exchange Commission

"An examination of several orphan trusts found these cases: When large global banks take over, the number of grants often drops sharply, reducing the bank’s administrative costs. But bank fees, which are based on the amount in the trust, increase. Small local grant recipients that have historically received money are either dropped in favor of larger charities or receive money far more sporadically. New grant recipients sometimes include the alma maters of trustees or organizations with which they and their families have personal relationships. Regulators have limited ability to identify such trusts and foundations and monitor them. No one knows how many orphan trusts and foundations exist. At the request of The New York Times, the Foundation Center identified 3,935 foundations that reported a financial institution as their sole trustee, out of a total of more than 77,000 foundations in its database. Those foundations control $5.4 billion in assets, and gave away $256.1 million in 2005... JPMorgan declined to disclose how many trusts and foundations it has sole control over. (Donors Gone, Trusts Veer From Their Wishes. By Stephanie Strom. New York Times, Sep. 29, 2007.)

Donors Gone, Trusts Veer From Their Wishes / New York Times

J.P. Morgan Chase & Co. 2007 DEF 14A / Securities and Exchange Commission
J.P. Morgan Chase & Co. 2008 DEF 14A / Securities and Exchange Commission
J.P. Morgan Chase & Co. 2009 DEF 14A / Securities and Exchange Commission

Who Benefits From the Bailout?

"The particularly frustrating part about the bailouts is that if we're to believe much of the media coverage, the money is going toward keeping financial executives high on the hog and cushioning the fall of those who brought about calamity in the first place. There's certainly some truth to these claims, but most coverage has failed to call out one of the primary beneficiaries of the bailouts. Any guesses? If you said "bondholders," then you are smarter than a fifth-grader. So who are these shadowy figures known only as "the bondholders?" To put it broadly, these are the companies and investment funds that own the debt of companies like Citigroup, Bank of America, JPMorgan, and General Motors and are hoping that these same companies can -- maybe with a little help -- stave off bankruptcy. As for their exact identities, they're a bit harder to track down than equity holders, but I dug up the major bondholders for Citigroup and Bank of America. There's a good deal of overlap between the two, particularly at the top with PIMCO -- the bond fund behemoth -- and mutual fund giant Vanguard leading both lists. Other major holders include MetLife, AIG's life insurance arm, Fidelity, Prudential, Dodge & Cox, and TIAA-CREF... But even if the reasoning behind bailing out bondholders isn't anything new, the player is one that hasn't gotten much attention -- and that seems like a big oversight. After all, if there was a video "Banks Gone Wild," bondholders would be the cheering crowd feeding the banks drinks and encouraging them to go further." (Who's Really Getting Bailed Out? By Matt Koppenheffer. The Motley Fool, Apr. 6, 2009.)

Who's Really Getting Bailed Out? / The Motley Fool

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cast 01-09-15