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.
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, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914.