The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1912-12-19

United Press Leased Wire Service.1 i
WASHINGTON, Dec. 19.-J. Pier
mt Morgan juggled his millions be
re a gaping audience today in the
oney trust investigation. His money
Tests were figuratively opened; his
hancial secrets disclosed, his stock, 4
upes explained and his bank books
red.
Mysteries of high finance were dis
osed-- mysteries which staggered
committee by their sheer enorm-
They were exposed without hesi-
ton. The money king appeared al
ost anxious at times to explain his
krt in a dramatic financial story OF
10 continents.
Steel" the master achievement OF
organ, was described; how the Uni
Id States Steel Corporation was In
bred, and organized. How Morgan
ctated the personnel of the corpor-
lions managers was recited without
esitancy.
Nobody was named director with
lt n, approval" said Morgan, shak-
bg his shaggy, grey lead, and pound
hg desk at his elbow vigorously
NHow other great financial titans
wed to his summons was also re-
ted by the man of millions. He ex-
aimed in detail how powerful banks
tremendously Scrambled for
ocks issued by the House of Nor
In He told how their shares were
bifrarily allotted some large,
me small.
Omnipotence Of his firm in issuing
curities Of railroads, such as the
ew York Central and New Haven,
hs also recited by the financier. He
kclared his opinion that the Morgan
fstem was best for the corporations
d the public as we'll. He denied
at better results would be secured
ON free, open competitive marketing
such securities.
> Morgan's story of steel" gripped
i hearers-who crowded, with bateo
feath, nearest the banker as he talk
OF billions.
The banker declared the Morgan
khieyements in organizing the stee
mst were without written contracts
lust mere correspondence.
Didn't you say who would be OF
lie board, and who should stay Off!
was. asked by Samuel Untermyer
torney for the committee.
Nobody went on over my protest,
declared, narrowing his eyes AM
wing his auditors a glimpse OF tn
[mous iron hand of Morgan.
The banker glibly told OF naminl
ldge u. HI. Gary, chairman Of tn
keel directors. He also admitted tha
lie prices at which cons.it plant
brming the giant corporation wer
bught. were absolutely fixed by hin
Everybody Laughed.
Morgan, the committee and tn
ldience laughed outright when b
BID Of his personal interest in tn
pwerful City bank and National Ban
Commerce. He was asked no
uch stock he had in them.
'soh, don't know, million or SO
said, yawning wearily.
The involuntary merriment OF II
owd forced Morgan to join In u
ughter after he saw the popul'
Ike.
Morgan showed little Of the tes.
rt SO generally attributed to hil
most extrsvagant politeness mark'
5 examination.
"I'll tell you frankly enough. II
biect TO your questions" Morgan ]
rted to Untermyer at one point
But the show OF spirit was fieetin
enerally low, but distinct NOR
(ne marked his answers, 4 dol
bow" and 81 don't remember" we
eauent responses. Often Morg
aned far over in his chair, gazi
18th beetling brows directly into 7
rmyer's eyes, as he made plain
pint. His eyes snapped when he
Jared that he voluntarily offer
curities to the public and did I
rec them upon buyers.
Again with twinkling eyes, he Y
bw some of his stock issues had !