The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1912-12-18
Experts Of Committee Declare
Eighteen. Financial Firms
Dominate the Wealth
Of the Nation
FIVE CORPORATIONS
CONTROL 22 BILLION
Morgan the Heat Of the
Combination is Prepared to
Appear Before Inquisi-
tors Tomorrow

Telegt IN by United Press.
WASHINGTON, Dee lS.-The domina.
tion Of the twenty-five billions three
hundred twenty-five million dollars OF
the nationals wealth BY eighteen lead
ing financial firms, was the evidence
purporting 10 show the actual, real
existence Of the money trust present.
ed to the Pujo investigation committee
today.
The five firms OF Morgan & Co, the
Guaranty and Bankers Trust compa-
nies, the First national and the Ma.
tional city bank OF New York are said
to have 3il directors in r2 corpora.
tions, with aggregate resources OF
twenty-five billion two hundred forty
five million
The firm OF p. Morgan & Co Is
held to be tie heart Of the alleged
combination.
The committee presented its figures
with statistics and charts, represent
ing the efforts of 30 expert account
ants. An immense chart was ezhib-
tied TO show the qualifications Of lead.
ing money kings OF New York, Chi.
cago aud Boston.
Evidence was offered purporting to
show that these eighteen firms with
only lse members hold 7iO director
shins in 1874 OF the wealthiest corpora
! tions IN the nation controlling re-
sources or capitalization amounting
to twenty-five billion.
Statistics showed that these men
have sss directorshlps IN Al great
banks and trust eompanks and eleven
insurance companies and i5s director
ships Ia 81 great railways, director
ships III two express companies, four
in one steamship company and 9s IN
Is industrial corporations, earning
over a billion annually; IS in is public
utility corporations.
While this concentration by inter
locking directorates VIII be shown. J.
p Morgan was waiting to testify Nor
gan was fortified with great array O.
renowned lawyers, clerks and gree
mass Of documents for defense y
was believed that he might not b'
called until tomorrow
The interest Of Morgans firm wa.
shown in the table OF statistics sub
mitted by the committee as totalinl
SO directors IN 80 corporations havinl
/. resources OF ten billions, twenty-sii
million This includes 2s directors &
12 banks and trust compsnies with re
sources Of a billion four million an
deposits Of nine hundred and eighty
nine million
The committee Yesterday took u
the attraction Of money TO New Yorl
bis rates Of call loans and receive
an ANALYSIS OF statistics on the sui
iects which, showed that banks loa
on stock exchange securities vas
sums Of money at times when deman
for money forces a high rate on tn
New York call money market
j. r. Niven, a public accountan
placed the statistics On the recor'
The first witness Of the day wa
Frederick T. Iewisohn, who consen
ed to reply to questions which he d
clined to answer The questions r
lated to profits of tke syndicate whiC
launched the stock Of the Callforn
Petroleum company on the stock ma
ket Mr.. Lewisohn placed IN the re
: ord the syndicate agreement und
which the stock was sold and the pa
ticipatlon letters, which assigned Il
shares Of the deal taken BY Lewisoi
Brothers. William solomon & Co al
Hall, Gaeten & Co
Mr. Lewisohn, under examinatio
declared he believed a system whi'
would result in the making pablie
statements Of promoters. brokers a.