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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 September 30 December 31
2000 1999
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ASSETS
<S> <C> <C>
Cash and due from banks $ 674 $ 2,382
Interest-earning deposits with banks 4,964 2,266
Debt investment securities available-for-sale 2,311 4,992
Trading account assets 89,366 84,786
Securities purchased under agreements to resell and federal funds sold 24,313 19,094
Securities borrowed 11,679 9,700
Loans, net of allowance for loan losses of $256 at September 2000 and $280 at December 1999 26,286 26,072
Accrued interest and accounts receivable 4,404 4,426
Premises and equipment, net of accumulated depreciation of $1,110 at September 2000
and $1,113 at December 1999 1,785 1,810
Other assets 12,482 12,138
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Total assets 178,264 167,666
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LIABILITIES
Noninterest-bearing deposits:
In offices in the U.S. 992 907
In offices outside the U.S. 791 501
Interest-bearing deposits:
In offices in the U.S. 3,519 4,256
In offices outside the U.S. 36,716 42,052
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Total deposits 42,018 47,716
Trading account liabilities 73,443 72,066
Securities sold under agreements to repurchase and federal funds purchased 26,297 13,610
Other liabilities for borrowed money 9,128 5,482
Accounts payable and accrued expenses 6,673 6,310
Long-term debt not qualifying as risk-based capital 5,335 6,224
Other liabilities, including allowance for credit losses of $134 at September 2000
and $125 at December 1999 1,663 2,719
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164,557 154,127
Long-term debt qualifying as risk-based capital 2,882 2,944
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Total liabilities 167,439 157,071
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 7,231 6,975
Accumulated other comprehensive income:
Net unrealized gains on investment securities, net of taxes 36 67
Foreign currency translation, net of taxes (12) (17)
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Total stockholder's equity 10,825 10,595
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Total liabilities and stockholder's equity 178,264 167,666
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</TABLE>
Member of the Federal Reserve System and the Federal Deposit Insurance
Corporation.
