Business: Complete Confidence

One shocked stockholder of a Manhattan bank, after listening to the report made to him by the chairman of his board, got to his feet in annual meeting last week and demanded to know what could have impelled a bank to take its stockholders so completely into its confidence. The bank was the 134-year-old Bank of the Manhattan Co. The chairman of its board, John Stewart Baker, great grandson of one of the bank's founders, suavely answered: "The spirit of the times."

J. Stewart Baker, who like his father Stephen became president of the...

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