Evening journal., 1912-12-19
MONEY TRUST
PROBERS HEAR
MORGAN STORY
contlnucd From First Page

The public or newspaper men. Private
elevators, guarded. kept intruders
from the suites occupied by the Nor
gan party at their hotel At the
capitol similar precautions we're
taken to protect the celebrated wit
ness
Immediately at the conclusion of his
testimony today Morgan planned TO
board his special train with those ac-
companying him and return TO New
York
Morgan came into the committee
room Just before 1890 o'clock, accom-
panied by his son. j. pierpont Morgan.
Jr and his daughter, Mrs Satterlee.
The nnancier led the way swinging
his cane in a jaunty fashion, and
hddling with his silk hat
He sat in the front row of the Wit
ness seats between his daughter and
Delaney Nichol, one of the array of
Morgan consul.
Morgan and Nicholl conferred TO-
gether for a few moments, referring
occasionally to some papers Morgan
produced. They were joined by eX-
Senator John c. Spencer, Joseph II.
Choate and Richard v Lindabury, the
balance of the rctinue Of legal ad-
viscrs. who came TO Washington with
the Morgan party
Just before Morgan was called,
Choate. Lindabury. Chairman Puio
and Consel Untermyer conferred to-
gether-
Morgan. his burly figure hunched
in the frail chair. answered all ques-
tions with a Querulous preface be-
tween a stutter and humble. Al
times his eyes, flashing beneath their
bushy brows. wandered aimlessly
over the crowded room and IL seem
ed an effort for him TO concentrate
his mind on the questions
To the observer who has seen
Morgan testify az previous public
hearings. one fact dominated the ex-
animation of the king Of the worlds
finances. that. after a life OF spec
tacular triumph, he was bowling to
the greatest cOnQuerOr Of all-age.
II was j. Pierpont Morgan, an old
man. living history Of achievements,
surrounded by careful guardians.
who faced the money trust investiga-
tors not j. Pierpont Morgan, the
wizard Of money
Please give to the committee a
statement of your total deposits on
Nov l. 1912? was Untermyer's first
question
II haven't Il here. sir ! should
think s1O0OO0OOO TO SliOOOOOO0," D."
Morgan replied
The hnancier promised to furnish
the figures He said his firm paid
interest on deposits.
Are YOU a director I'm some OF the
firms which are depositors with your
Some Of them"
Morgan promised TO furnish a
statement Of the firms in which his
bank had directors.
1--WE will give you anything Of that
kind" said the banker. courteously
Tho witness said the Philadelphia
banker, DrcNcl & Co., benefited simi-
larly
He promised TO furnish data from
that branch
Have You Tho same system in Lon.
don and PARISH
mot to any great extent
1T would be inhnitesimal?'
Practically so. We don't keer
those accounts here
Jntermyer then turned TO the
firms fiscal agency contracts.
I'VE telographed for copies over
night. said Morgan "There they
are-copies In two sections. the New
York Central and allied lines and the
New Haven and allied lines"
How many Of such agreements
have you?"
That's all. except by tacit agree
ment We act for the steel corpora
tion-there is no written agreement
as to It. or others. It's all by cor
respondence or hand and mouth"
Untermyer then read the fsca
agency agreements with the New
York Central into the record. The,
recitcd that the firm was given Sc
curity marketing monopoly Offering
up 10 10 per cent of the issue to tn
public, In provision for cancolla
tion OF the agreement upon thirt.
DAYS notice.
There was nothing more thai
that" explained Morgan
II was a member OF the railroa
finance committee the witness con
tinued
You have been a member Of tn
board of directors for many years?'
About thirty five. | think"
untermyer brought ont that th
fiscal agreements gave the firm tn
exclusive marketing of securities 70
the firms with which they were mad,
The committee counsel next rea
the fiscal agency agreements with tn
Aew York Central into the recorI
They recited that the firm was give
a security with which they were mad
Morgan, after a few minutes of th
questioning settled more comfortabl
IN his chair. and thrust his hand int
his trousers pocket, displaying
capaciOus waistcoat over which Wa
draped thick watch chain, with
camel seal and a litte gold box thi
hung near his watch pocket He wol
his usual wide winged collar barir
an expanse OF neck He constantly pl
on and took of a pair Of horn rimm,
spectacles. AT times when given pa
ers TO verify statements, he aros
with a quick nervous festure an
handed or took the documents fro
and TO counsel Untermyer
His attorneys constantly hover
about him, fearful evidently that q
fnancier might make an error in
testimonQ Their attitude smack
more of guardianship than of an a
visory character. When they we
not prompting Morgan they were bu
conferring among themselves stud
ms documents offered in evidence
The Morgan contract with the La
Shore Railroad was then read a
also that with the big Four" Ra
road The contracts were back
up by the letters between the fiji
and the railroads The letters pi