Magazine content is available exclusively for TIME subscribers.Business: J.P. Morgan Joins With Guaranty Trust
BANK MERGER
SINCE 1873 the most famed address in the U.S. financial world has been "The Corner" at 23 Wall Street, home of the House of Morgan. From The Corner last week came news that J. P. Morgan & Co.. Inc. will merge with Guaranty Trust Co. of New York, provided the trustbusters approve, to form the fourth largest bank in the U.S., with resources of $4 billion, capital funds of more than $500 million.
Though J. P. Morgan is synonymous with big banking, the Morgan bank is actually only 22nd in the...
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