159

* Baruch chose as Assistant Chairman of the War Industries Board a 

fellow Wall Street speculator, Clarence Dillon (Lapowitz). See 

biographies.

90

@insert Facsimile of New York Times article

Facsimile of an article which appeared in The New York Times dated 

September 23, 1914. Listed are major stockholders of the five New York 

City banks which purchased 40% of the 203, 053 shares of the Federal 

Reserve Bank of New York when the System was organized in 1914. 

They thus obtained control of that Federal Reserve Bank and have 

held it ever since. As of Tuesday, July 26, 1983, the top five surviving 

New York City banks have increased their ownership of the Federal 

Reserve Bank of New York to 53% of the shares.

91

@insert CHART I

92

@CHART I cont.

93

CHART I

Chart I reveals the linear connection between the Rothschilds and the 

Bank of England, and the London banking houses which ultimately 

control the Federal Reserve Banks through their stockholdings of bank 

stock and their subsidiary firms in New York. The two principal 

Rothschild representatives in New York, J.P. Morgan Co., and Kuhn,