New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-21
Morgan and Baker To Be- Called.

VtoT9aH dHb SsNcI ~ ~ Ss'SS'
Only FIVE OF the eleven members OF the
subcommittee charged with the RESPONSE
bility Of investigating the alleged money
trust" were at the meeting to-day. 1t
was explained that this had been respon-
sible for the failure to announce the
names OF the witnesses who will be heard
when the inquiry is resumed. II is gen
orally understood, however, that j. Pier
pont Morgan, George 7. Baker and other
New York men are on the witness list.
The money trust probers acknovl
edged that their hands were partially
tied by the refusal OF the Senate TO pass
the Pujo bill giving the committee WISH
torial powers over national banks
Nevertheless the inquiry will be resumed,
and the House investigators will first take
up the operations OF the clearing house
associations and stock exchanges, and
then 1.-THE concentration OF money and
credit and the causes thereof"
The committee Acknowledges that no
comprehensive inquiry can be conducted
unless the Pujo committee IL given the
powers sought and is placed on an equal
footing with the Controller OF the Cur
y
which has passed the House and IL now
before the Senate, would give IL the ncces-
sary authority.
Despite the Official assurances 20 the
contrary. there were well founded reports
to-day that all is not peacesble with the
House Banking and Currency Committee
Irrespective OF the reported troubles be-
tween Chairman Pujo and Mr.. Unterrnyer
regarding the method OF procedure. Rep
resentative Carter Glass, OF Virginia, Is
said to be causing trouble. Mr.. Glass
heads a subcommittee OF the Banking
and Currency Committee which is dele
gated 10 frame amendments 20 the bank
ing and currency laws. The functions OF
the money trust investigators and the
Glass sub committee are distinct. and Mr.
Glass has served notice upon the Pujo
branch OF the full committee that Mr..
Cntermyer's plan OF procedure and his
recommendation Will not govern the
Glass subcommittee.
Dispute as to Functions.
II Is understood that Mr.. Untermyer IS
now working upon bills which he will ask
the Puio committee TO adopt. providing
for the federal supervision OF clearing
houses and stock exchanges. The Glass
subcommittee labors under the impress
sion that 1t is designated to suggest
amendments TO the banking and currency
laws, and that the function OF the Pujo
committee is 20 report uDon findings OF
fact concerning the money trust and the
means OF curbing It.
BEFORE leaving for New York this after
NOM Mr.. Untermyer vehemently denied
all rumors TO the effect that there had
been discord In the Pujo committee. Chair
r,op puio contented himself with a for
NAL statement deprecatins all reports OF
hreak between himself and Mr.. Inter
mver or between Mr.. Untermyer and Il
! II Farrar. associate counsel, who re-
signed yesterday. =
| Jr ITntermyer made public this tee-
gram which he had received from Judge
| FGrrar:
| 10 financial rings organs in New YORK
or washington undertake 70 explolt-a
lies about my retirement ley me know.
Won can state with my full authority
| that there never was disagreement pc
tWeen us as TO conduct Of inquiry or eN-
| a minatIo of witnesses or policy TO be
| nursued by committee. My action IL
| taken with profoundest regret. NO step
| in nv life was ever taken with more re-
| iuctance. l struggled TO the last min
nc 70 accommodate my affairs but
| found IL impossible. 1t is my sincere
hone that committee Will stand by our
agreed programme and give you us un'
divided support on lou a iuS ii neno5o U
| hostility this investigation Is exciting
| among the interests affected.