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Exhibit 99b.
J.P. Morgan & Co. Incorporated
CONSOLIDATED STATEMENT OF CONDITION (PRELIMINARY)
Morgan Guaranty Trust Company of New York
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<TABLE>
<CAPTION>
In millions, except share data June 30 December 31
2000 1999
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ASSETS
<S> <C> <C>
Cash and due from banks $ 2,463 $ 2,382
Interest-earning deposits with banks 4,538 2,266
Debt investment securities available-for-sale carried at fair value 2,578 4,992
Trading account assets 81,572 84,786
Securities purchased under agreements to resell and federal funds sold 22,535 19,094
Securities borrowed 13,371 9,700
Loans, net of allowance for loan losses of $282 at June 2000 and $280 at December 1999 26,609 26,072
Accrued interest and accounts receivable 5,236 4,426
Premises and equipment, net of accumulated depreciation of $1,152 at June 2000
and $1,113 at December 1999 1,777 1,810
Other assets 12,510 12,138
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Total assets 173,189 167,666
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LIABILITIES
Noninterest-bearing deposits:
In offices in the U.S. 1,019 907
In offices outside the U.S. 1,639 501
Interest-bearing deposits:
In offices in the U.S. 3,605 4,256
In offices outside the U.S. 43,278 42,052
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Total deposits 49,541 47,716
Trading account liabilities 71,202 72,066
Securities sold under agreements to repurchase and federal funds purchased 17,860 13,610
Other liabilities for borrowed money 4,921 5,482
Accounts payable and accrued expenses 7,688 6,310
Long-term debt not qualifying as risk-based capital 5,297 6,224
Other liabilities, including allowance for credit losses of $163 at June 2000
and $125 at December 1999 3,152 2,719
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159,661 154,127
Long-term debt qualifying as risk-based capital 2,876 2,944
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Total liabilities 162,537 157,071
STOCKHOLDER'S EQUITY
Preferred stock, $100 par value (authorized shares: 2,500,000) - -
Common stock, $25 par value (authorized shares: 11,000,000; issued and
outstanding: 10,599,027) 265 265
Surplus 3,305 3,305
Undivided profits 7,050 6,975
Accumulated other comprehensive income:
Net unrealized gains on investment securities, net of taxes 45 67
Foreign currency translation, net of taxes (13) (17)
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Total stockholder's equity 10,652 10,595
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Total liabilities and stockholder's equity 173,189 167,666
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</TABLE>
Member of the Federal Reserve System and the Federal Deposit Insurance
Corporation.
