Who Ruled Columbia University in Early 20th Century?--Part 2

U.S. muckraking writer Upton Sinclair indicated which special corporate interests have historically controlled the tax-exempt and "non-profit"Columbia University campus, when he wrote the following in a chapter, titled "The University of the House of Morgan," that appeared in his 1923 book, The Goose-Step: A Study of American Education:

"...This University of the House of Morgan is run by a board of trustees. Under the law these trustees are the absolute sovereign, the administrators of the property, responsible to no one. They cannot be removed, no matter what they do, and they are self-perpetuating, they appoint their own successors. Their charter, be it noted, is a contract with the state, and can never be altered or revised. Such was the decision of the United States Supreme Court in the Dartmouth case, way back in 1819.

"Who are the members of this board? The first thing to be noted about them is that there is only one educator, and that is the president of the university, an ex-officio member. Not one of them is a scholar, nor familiar with the life of the intellect. There is one engineer, one physician, and one bishop; there are ten corporation lawyers, and eight classified as bankers, railroad owners, real estate owners, merchants and manufacturers....The chairman of the board is William Barclay Parsons, engineer of the subway, and director in numerous corporations. The youngest member of the board is Marcellus Hartley Dodge, who was elected when he was 26 years old, and was a director of the Equitable Life while still an undergraduate at Columbia; he is a son-in-law of William Rockefeller, and is chairman of the Remington Arms Company and Union Metallic Cartridge Company. He is said to have cleaned up twenty-four million [equivalent to over $538 million in 2017 dollars] in one deal in Midvale Steel, and in October 1916, he is credited with making two million [equivalent to over $44 million in 2017 dollars] by cornering the market in munitions machinery. Frederick R. Coudert is one of the most prominent attorneys of the plutocracy, a director in the National Surety and Equitable Trust, Herbert L. Satterlee is a Morgan attorney and a Morgan son-in-law. Robert S. Lovett is chairman of the Union Pacific Railroad, and director of a dozen other roads. Newcomb Carlton, president of the Western Union Telegraph Company, guides the affairs of a great university in spite of the fact that he is not a college man. Reverened William T. Manning is an ex-officio member, one might say, being the bishop of the church of J.P. Morgan and Company. You must understand that Columbia is descended from Kings College, an Episcopal institution, and the bishop, and three vestrymen of Old Trinity are on its board. Perpont Morgan, the elder, was on all his life, and Stephen Baker, president of the Bank of Manhattan and the Bank of the Metropolis, is still on. A study of those who have held office on the board of Columbia, from 1900 to 1922, shows fifty-nine persons classified as follows: bankers, railroad owners, real estate owners, merchants and manufacturers, 20; lawyers, 21; ministers, 8; physicians, 6; educators, 1; engineers, 3. The six physicians were on because of their connection with the College of Physicians and Surgeons, a branch of Columbia..."