Evening journal., 1912-12-19
MONEY TRUST
PROBERS HEAR
MORGAN STORY
Great FinanCier Tells Con-
ereSSiOnal Committee Of
Companies Part in
Finance
ADMITS INTEREST
IN MANY PROPERTIES
BY The United Press.

by The United Press
WASHINGTON. Dec. III PIER
pont Morgan, Americas most power
ful hnanciar. today faced the most
grillng inqusition Of his celebrated
career before the money trust inves-
! tlgating committee The great finan-
cier himself. was scheduled under
oath to tell the story OF his wealth.
His testimony promised to write
new chapter in American financial
annals.
Morgan's temperance today fol-
lowed his brief raising of the veil
OF mystery over his Wall Street busi-
ness late yesterday
Promises OF complete and courte-
Gus information upon his money con-
quests were promised by the finan-
cier today But some lively tits be-
tween the banker and Samuel Inter
mycr. attorney for the Puio commit
tee. were anticipated Morgan indi-
Gated early Ina his preliminary appear
anco yesterday that he stands ready
TO disclose the principal facts In his
numerous transactions, but takes The
position that the identity of the prime
lcpal actors therein are private, not
public property.
Announcement Of Morgans reap
pcarancc drew crowds OF spectators
clamorlng for admission to the COM
. mittoe room. Before 10 oclock--a
half hour before the scheduled hour
OF meeting hundreds sought admis-
sion TO the mammoth, marble lined
hearing hall. congressman capitol
, employees and tourists composed tho
throng. Outside, the marble STEPS or
= oned with persons seeking glimpse
/ of the head of the Morgan house,
. While the personal appearance oi tho
. ln8ueial chitaam e3a BE- specsacn.
4 lar phase OF lodays hearings sub
stance was added TO the real informa-
tlon for which the committee is
searching by a great pile of docu-
! ments submitted by j. p. Morgan q
Co. These were prepared In response
/, TO orders of the committee. They
j, we're held for Presentation by Nor
4 gan's attorneys OF whom he had a
: half dozen again in attendance to-
day Morgan himself youches only
: for the accuracy of the Information
compiled He told the committed that
he WIS personal ly unacQuainted
with many details OF his business.
Initial testimony planned today by
{ Attorney Untermyer was disclosure
l through the nnancicr OF the millions
I poured into his firms vaults through
the name of Morgan t'ntermycr
planned to disclose how bankers,
railroad heads, industrial giants.
p and great corporations themselves
give great wealth for Investment or
e control TO the Morgan firm
Personal explanation by Morgan
t.N of Ia 81
cOups was the purpose OF the com
mittee How great corporations like
the steel corporation have been
"hoated' here and abroad by the firm
was another slant of the inquiry.
But dominating the testimony OF
d the banker was Untermyer's program
TO disclose the attitude and opinion
. Of MOrgan--as typical OF powerful
"a men of his kind-upon alleged
abuses ia finance
d Morgan today also faced cross eN.
d nation upon the disclosures yes
terday of the committee rcgardina
n interlocking directorates.
Relations of his firm with corpor-
IS ations, banks. railroads and insur-
l. ance companies totalling billions n
is capital. resources and funded debts
k were TO be inspected Manipulation
e OF stocks in Wall street was another
It topic of testimony anticipated II
was proposed TO secure Morgans
e private opinion upon the operations
d Of the street It's machinery and
l. morals.
y Today, Morgan's retinue Of attor-
J. neys, partners. secretaries and clerks
L. was reinforced by the arrival Of a
J. few more lawyers. They kept the
Continued on Page Two.l