The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1912-12-26
PICTURES Of
J,P|ERP0NT MORGAN
ON WITNESS STAND
Not Money Wizard
But a Man Grown
STILL FLASH
Guardian Lawyers Hover
About Him While He
Answers Questions.
STILL FLASH

pen picture OF j. P%ierpont Morgan on
the witness stand before the money
trust committee was written by The
Washington correspondent of the
Kansas City Star:
Mysteries of high finance were dis
closed mysteries which staggered
the committee by their sheer enor
nifty. They were exposed without
hesitation. The money king appeared
almost anxious al times to explain
his part in the dramatic financial
story OF Two continents.
steel, the master achievement of
Morgan. was described, how the
United States Steel Corporation was
inspired ana organized. lie told with
ont hrsiialcy how he dictated the
personnel of The corporations man
ayers.
"Nobody was named MS II director
without my a%pproval,' said Morgan.
shaking his shaggy. gray head and
pounding a desk al his elbow Wig
OfolSly.
How Banks Bow TO Him.
How other great financial TitanS
bowed to his was rccited
by the man of millions. He explained
in detail how powerful banks unccr-
enormously "%scrambled" for stock
issued by the House of Morgan" He
told how their shares were abilrarily
allotted some large. some small.
o%mnipotcncc of his firm in issuing
securities of railroads. such AS the
New York Central and the New lla~
ven road also WAS recitcd by the fl
%nancicr. He said his opinion was that
the Morgan system was best for the
corporations and the public as we'll.
He denied that better results would
be secured from free. open com
petitive marketing of such securities.
Morgan's story OF steel gripped
his hearers, who crowded, With bated
breath, nearer the banker as he talk
ed OF billions.
The banker declared the Morgan
achievements in organizing the steel
trust were without contracts. Just
mere correspondence.
"Didn't YOU say who would be on
tho steel board and who would stay
toif?" he was asked by Samuel Tntcr-
myor.
"Nobody went on over my protest.
he said. narrowing his eyes and Civ
ing mis- auditors a glimpse of the
famous Iron hand of Morgan"
The banker glibly told of naming
Judge E. II. Gary. chairman of the
steel directors. He also admitted that
the prices AT which constituent plants
forming the giant corporation we're
bought, were absolutely fixed by
him.
\ Little Matter of a Million.
Morgan, the committee and the am
ditors laughed outright when he told
OF his personal intcres, i'll the power
tul City Bank and National Bank OF
Commerce. He was asked how much
stock he had in them.
"Only a little, a million on So" he
said. yawning Wcarily.
The Involuntary mcrrimcni of The
crowd forced Morgan to Join in
laughter after he saw the popular
joke
Morgan showed little of the tcsty.
tart disposition SO generally attribut-
ed to him. \ most eNtravagant polite
ness marked his examination.
I'm tell you frankly enough if |
object to your questions.' Morgan
%retortcd to un,crmeyer AT n point.
"Do You feel tired AT am" TN
tcrmycr asked Morgan after The re-
cess had been ordered.
"Noi nt all" protested the banker.
iovlally I'm be all right again after
] get IL smoke and Il little fresh air"
Morgan showed His Age.
Morgan, his large figure hunclrcd
in the frail chair. answered all qucs-
tons with 4 auerulous preface. be-
tween Il stnttcr and humble. AT
times his eyes. flashing beneath their
hushy brows. wandered aimlcssly ov-
err the crowded room. and il seemed
an effort to him TO cc,lcentrate his
mind on the questions.
TO the observer who had seen Nor
gan testify at previous public hear
ings. one impression dominated the
examination of the king of the worlds
inancicrs-that, after a life of tri-
umph, he was bowling to age.
The heavy jaw. the sloping head,
set forward ON Il thick neck, the lips
always held in compression. making
up the powerful ensemble OF Nor
gan's personality. seemed to have lost
their virility.
His Lawyers His Guardians
1t was j. Pierpont Morgan, an old
man, Il living history OF achievements
surrounded by careful guardians,
who. faced the money trust investi-
gators not j. P%icrpont Morgan. the
wizard of money.
Morgan. after a few minutes of
questioning, settled down more com
iortably into his chair, and thrust his
hand into his trousers pocket, dis
playing Il capacious waistcoat, over
which drapcd a thick watch chain.
with a cameo seal and a little gold
box hung near his watch pocket.
5 lie wore his usual wide winged
collar, barring an eXpansc of neck. He
constantly put on and took off Il pair
OF horn trimmed s%pcctacles. AT times
whch gwen papers TO verify state
mehts, he arose with a quick, nervous