 The chair of the House Committee on Banking and Currency , Representative Arsène Pujo , ( D – La . 7th ) convened a special committee to investigate a " money trust " , the de facto monopoly of Morgan and New York 's other most powerful bankers . The committee issued a scathing report on the banking trade , and found that the officers of J. P. Morgan & Co. also sat on the boards of directors of 112 corporations with a market capitalization of $ 22 @.@ 5 billion ( the total capitalization of the New York Stock Exchange was then estimated at $ 26 @.@ 5 billion ) . 
