Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1912-12-25
MORGAN ON STAND.
u SHOWN BY CHARTS HEIS IN CON.
GERMS WITH s25,s25, 900, 900
n n "a RESOURCES.
MANY BANKS MENTIONED
Testimony as Given Before the Money
Committee Shows F
Gigantic Combination of Inter
locking Directorates.

morgan a appeared ~ eIOre the uOuso
money trust investigating committee
at its afternoon session here Wednes.
81 day Samuel Untermyer began put
ting questions to the capitalist at 2:40.
N His daughter, Mrs. Satterlee; his son,
~ p. Morgan, Jr., and Mrs. George B.
Case and Mrs. T. W. Lamont accom-
panied him. 81 IN s3
The financier walked to the chair at
\ the end Of the committee table. He,
4 was sworn by Chairman Pujo, stand.
& ling with his right hand appraised.
S sss MI. Morgan, in response to the usual
y qualifying questions, said he was
banker in New York city. W
Are you member of Philadelr
phia firm2' asked Mr.. Untermyer. Il.
Well, mats the same firm" an.
Il swered Mr.. Morgan.
Paris house q .g,5
They are all the same house. The
y 'hrm is In New York with branches In
Philadelphia, Paris, and London, : said
+ Mr.. Morgan.
Who are the members of the firm Z"
! ~. Morgan gave the following list:
p Morgan, H. P. Dawson, w. F.
q Hamilton, 7. W. Lamont, H. F.. Lloyd,
y r. Morgan, Jr., "a. "A. Newbold, VIII.
liam H. Porter, Charles Steele, p. T.
6totesbury and Temple Baldwin. B.
81 Mr.. Morgan said the same partners
/, we're in all the houses
do you ia general banking busi-
ness New York 2" s.
.syWe try to-" N I; =s
Mr. Morgan explained that his firm
did mot belong to the clearing house,
but cleared Its own checks over its
counter. y; I MT 4
The COMMITTEES at 1902 o'clock ad-
1ourned for the day. 4 II,
The enormous power Of allied inter
l ests, principally in New York. over the
financial, transportation, insurance.
I public utility and Industrial activities
of the country by means OF interlock-
4 hng directorates, was shown in charts
presented to the house money trust
sasinvestig committee before Mr.
Morgan took the stand. Al 7 ,.'1l "A
sss The firm members and directors
whose affiliations with the Morgan,
STANDARD Oil and friendly financial
groups are thus shown number 100.
lin the aggregate they hold TAG direc.
ltorships in las corporations having
total resources or capitalization OF
n II$25;825, 100000 as follows:
Directorships number 1856 in II
blanks and trust companies having to.
tai resources Of $685., 900, 900 and is.
i tai deposits Of 1900, 900. #8
Fifty directorships in II insurance
companies having total assets Of 81
7l646, 0O0,O 900. ..
Directorships numbering 155 In 81
railroad systems having a total CAPT
5sitalization OF 1918, 100000, and to-
|tal mileage Of 163, 200.
Six directorships in two express
companies and four directorships in
sone steamship company with q com.
581bined capital of $245, 100000 and
gross income OF $97, 100000. Il.
Ninety eight directorships in %
4 producing and trading corporations
4 having a total capitalization of 3d.
L 1854, 100000 and total gross annual
earnings in excess Of 81, 145, 600, 900.
az Forty-eight directorships in 10 pub
4 Tic utility corporations having total
Il capitalization Of $2,S26,O0O,0 900 and to-
tai gross annual earnings in excess OF
" 342s. OOO, 900. Fl 4. . Ak,
Control Of these vast interests is
exercised through eighteen financial
institutions, as follows:
]. F. Morgan & Co., New York.
X First National bank, New York.
Guaranty Trust company, New York.
!.s Bankers Trust company, New York
National City bank, New York.
Kuhn, Loeb & Co., New York.
National Bank of Commerce, New
York. u iii.
~ Hanover National bank, New York.
Chase National bank, New York.
I, q Aston Trust company, New York
ss New York Trust company, New |
York. RI
Blair & Co., New York.
8ss Speyer & Co., New York. i
Continental and Commercial Nation
s$sa ri bank, Chicago. |
First National bank, Chicago.
Illinois Trust and Savings bank.
Chicago.
Kidder, Peabody & Co.. Boston and
New York. 7.f
Lee, Higginson & Co., Boston and
New York. "Fl.
fS@S3Sss -
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