El Paso herald. (El Paso, Tex.) 1901-1931, 1912-12-18
CONGRESS OUIzZES
FIHANCIER MORGAN
New York Money King Goes to Wash
ington with Retinue of Attend
ants and Attorneys.

Continued From Page u
sergeant at arms. testified that he hal
Searched both Mr.. Rockefeller's town
house and his country house.
Names Members of Firm.
When j. 2. Morgan was called, the
financier walked to the chair at the
end of the committee table and was
sworn by chairman Pujo. In response
to the usual qualifying questions, he
said he was q banker in New York city.
Are you a member of a Philadelphia
lrm?" asked Mr.. Untsrmyer.
We'll that's the same firm answered
Mr. Morgan.
"A Paris house,"
They are all the same house The
firm is I'm New York, with branches in
Philadelphia. Paris and London" said
Mr.. Morgan.
Who are the members Of the firm ?"
Mr. Morgan furnished the list:
J. =. Morgan. H. P Davidson. ". p.
f-a-lfltcn. T. w. Lamont H. F. Lloyd,
J. P Morgan jr, A. A. NewbOld William
. q. --.. Charles steele +. T. Stotes-
bury ana Temple BDWdCiH-
Holds Corporation Deposits.
Mr.. Morgan said the same partners
were in all the houses
Mr.. Untermyer asked Nj Morgan
whether his house carried deposits Of
interstate corporations.
Mr. Morgan said he did not quite
understand what was meant, and Mr..
Untermyer explained that he meant
companies transactine business In more
Mr.. Morgan said his firm accepted
the accounts Of any corporation
Have, you. accounts from interstate
with any corporation we think is
good" said Mr. Morgan
Mr. Untermyer read into the record
a statement that in January there were
Sc accounts with the Morgan firm with
deposits of s66,11S,000 and on Novem-
on deposit S71.96S 100000. DO you
think that these great corporations
that have their securities scattered
make their deposits with a private
banker" asked Mr.. Untermyer.
Fiscal a gent For Railroads.
Mr.. Morgan added that the 1acts
ought to depend on the character OF
the banker and the extent to which
the board of directors of the corpora
tiOn might formally authorize such de-
pOsits. Mr.. Morgan said the question
was one which he believed should be
left 70 boards of directors
Mr.. Untermyer asked for what in
terstate corporations the Morgan
firm acted as fiscal agents.
Mr. Morgan did not know. but he
accepted a list furnished by his office
to the committee. The list included
the Chicago x Western Indiana rail-
road. the Chicago. Indianapolis St.
Louis railroad, the Pere Marquette &
the New York, New Haven & Hartford.
and the New York Central
Mr.. Untermyer asked about the
terms Of the agreement under which
Morgan & company act as fiscal
agents for the New York Central
Anxious to Hurry Testimony.
You have the right to issue all their
securities. haven't yOu?' asked Mr.. IN
II we can agree on terms" replied
Mr.. Untermyer persisted in the cues
ton as to whether the Morgan 1lrm
did not have entiNe control Of the
securities of the New York Central
Only if we can agree on terms
replied Mr.. Morgan again.
agreement Between the New York Cen
At that point the committee ad-
Mr. Morgan told chairman Pujo that
he was very anxious TO finish his tes-
. ttmony. as be wanted to leave the
country.
Morgan Has Big Retinue
Mr.. Morgan arrived in Washington
I last night to answer subpoena to
testify before the committee.
a party of nearly score accom-
panied MI Morgan in a special train
tAat brought him from New York, in
Guiding his daughter, Miss Anne Nor
san; his partners in the firm Of J.
PierDOnt Morgan & company. Thomas
W Lamont, and H p Dawson; JOS
cph H. Choate, John c. Spooner, and
Richard S Lindabury, of counsel for
staff Of clerks and stenographers.
bought and Sold BOth.
J. +. Peter of Lewiston Brothers,
testified yesterday that he assisted in
conducting stock market operations IN
California Petroleum. acting in con-
junction with representatives of Hall
Sarten & company, and William Solo
mon d company.
You arranged your sales and pur-
ehases to fit the situation as to
whether the public came in or not,
isn't that it," suggested Mr.. Inter
myer.
No he said. "we sold it as there
was demand for it on the part OF
the public"
You gave out buying orders to sup
port the market2" asked the lawyer.
Yes" said Mr. Peter.
And you gave selling orders to gel
rid Of the stock %
"Ec-7
Literncy Test Bill Passes.
The house passed the Burnett liter
acy test immigration bill IT'S to 81.
The measure, substitute for the SEN
ate Dillingham; bill. would bar from
the United States immigrants over 16
years old unable to read, except those
proving to have emigrated on account
of religious persecution at home.
VIII Not Aid Banks.
The banking and currency subcom-
mittee decided to report unfavOrabiy /
the Levy bill to relieve the stringency
IN the money market by placing $50
100000 from the treasury in national
banks
GuTpG RApvsc p0nv