Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-18
money KING TO
GIVE TESTIMONY.
j. PTERPONT MORGAN WILL TEIn
COMMITTEE ABOUT HIS
DEALS IN MONEY,
MUST AWAIT HIS TURN
Although He II Now in Washington
lie May Not BE Called Before
Thursday

WASHINGTON. Dec. III Pier
pont Morgan arrived in Washington
tonight to answer to subpoena to tes-
tify before the house committee on
banking and currency, investigating
the so-called money trust. Mr.. Nor.
gan expected to testify before tho
committee tomorrow but It Is prob
able he will not be reached on the
list Of witnesses before Thursday, ac-
cording to the plan Of investigation
mapped out by Samuel Untermycr,
counsel for the committee Mr. Nor
gan had nothing To say upon his ar
rival In Washington.
party Of nearly a score accompa-
MED Mr.. Morgan I'm "a special train
that brought him from New York. As
he allghted from the train and made
his way through the deserted station
to his automobile, he was accompa-
MED by his daughter, Miss Anne Nor
gan In the party We're Mr. Mor-ans
partners I'm the firm Of j. p. Morgan
t& Goa Thomas w. Lamont, ami II.
=. DAWSON; Joseph II. Choate, John
c. Spooner and Richard S. Lindabury,
Of counsel for Mr. Morgan; j. =. Nor
gan, Jr.. and a staff OF clerks ana
stenographers.
Mr. Morgan and his party were con.
veyed to Il suite in local hotel a
number Of automobiles met the party
at the station and hurried the Nor
gan retinue TO the hotel. where 1t was
whsked up a rear elevator to the re-
served rooms.
Samuel Untermyer, counsel for the
committee, would not discuss tho
prospects for the examination of Mr..
Morgan. Ho did say, however, that
the investigation must proceed In It's
proper order and that several wit.
nesses now on hand were to be ex-
amined tomorrow. The committee will
first take up the main head or tho
money trust injury relating to the
Concentration OF money and credits"
and 1t is on this point that Mr. Morgan
will be examined. Before he Is ques.
toned, however, n mass OF statistl> al
matter prepared by experts will hs
placed in the record
The committee today took up the
attraction OF money to New York by
high rates OF interest on call loans.
and received an analysis Of statistics,
which showed that banks loan On
stock exchange securities vast sums
Of money at times when the demand
for funds forces a high rate on tho
New York call money market
j. p. Niven, a public accountant,
placed the statistics in the record.
The first witness Of the day was
Frederick Lewsohn, who consented 10
reply to questions which he declinced
to answer yesterday. The questions
related to profits Of the syndicate
which launched the stock of the Cal.
ifornia Petroleum company on the
stock market Mr.. Lewsohn placed
in the record the syndicate agreement
under which the stock was sold, and
the participation letters, which as
signed the shares Of the deal taten
by Lewisohn Brothers, william Solo
mon & Co., and Hallgarten & Co.
Mr.. Lewisohn, under examination,
declared he believed that a law which
would result in the making public Of
statements Of promoters, brokers and
Intermediary profits on all the stocks
before stocks were listed with the
stock exchange, would be beneficial
70 the Investing public. Such laws
Mr.. Untermyer brought out, now are
in force In European cCdntrles.