(Not Original Content)

Pilgrims Society member John M. Meyer Jr., Knight of the British Empire, head of J.P. Morgan & Company, founded Depository Trust Company of New York in 1973.  Other original directors known as Pilgrims Society members were William Ira Spencer of Citibank and Elliott Averett of the Bank of New York at 48 Wall Street, an official of the American Institute of Banking and director of the United Nations Association.

If you've occasionally wondered why certain of your mining shares are chronically depressed, you need to read The Depository Trust Company - The $19 Trillion Private Bank.

It's now known as the Depository Trust & Clearing Corporation and is a member of the Federal Reserve System; see discussion of how the DTC has turned back concerns and investigations concerning naked short selling (see: Depository Trust & Clearing Corporation at Wikipedia).