Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-09-20
MORSE WILL HAVE
REVENGE ON J.P.
New York Convict Banker
Promises to Bare Plot to .
Ruin Him.

New York, Sept 20.-Charles W.
Morse will go before the house COM
mittee on banking and currency which
is Investigating the money trust when
its hearings are resumed here in the
middle of November and tell for the
first time the full story of what he is
convinced was a carefully laid plot by
powerful group of financiers to ruin
him He Is expected to take revenge
on J. Pierpont Morgan.
Deputy Sergeant-at-Arms White OF
the house of representatives IS sup
posed to have served Morse and Nor
gan today with subpoenas to appear
before the committee. The house off,
Ger Is known to have come to New
York with subpoenas for Morgan and
Morse, William Rockefeller, James
Stillman, Thomas F. Ryan, George F.
Baker, president of the First National
bank; Otto T. Barnard, president of
the New York Trust company; William
A. Nash and Walter L. Frew, respec-
lively, chairman of the board and pres
,i,idept af the Corn Exchange bank. '---
Morse is expected to relate q more
sensational story regarding the opera
tons of the alleged money trust than
has yet been told by witnesses direct
ly examined as to the cause of the
failure OF the Oriental and Morse banks
in spite of the absolute solvency of
all of those Institutions. Morse las
suffered term in the penitentiary on
an indictment charging him with Grim
inally mismanaging his banks.
While undergoing in the federal
prison at Atlanta a term of Is years
he stubbornly maintained that silence
which characterized his skyrocket ca
reer as a high financier" But since
his restoration to freedom and tC
health It is stated by several of his
friends that he is anxious to be placed
on the witness stand before the con
gressional probers to tell the story un
der oath and in detail
William A. Nash and Walter A
Frew. who are to be summoned, are
subject to the jurisdiction Of the com
mittee by reason OF their service OF
the clearing house committee. Mr
Nash was a member Of that all-pow
erful organization in 1907 when the
committee took charge OF the financia
situation during the panic and hai
been charged by witnesses heretofor,
: examined in the money trust investi
CATION with participating in confer
, Ion RhoN - IL A.
old Oriental National bank, which s,
quickly was followed by the collaps,
of what was known as the Morse bank
the National of North America, tn
New Amsterdam and the Mechanics
& Traders. Mr Frew Is now a mem
ber Of the clearing house committee.
William Rockefeller could not b
served with a subpoena when the con
$ mittee was holding It's sessions las
e spring. At that time II was charge
that he had suddenly gone to Canad
{ to evade service. His health then wa
i not good. It is reported that he ha
> sufficiently recovered to be able I
i stand the ordeal OF an examination b
Samuel Untermyer, chief counsel G
i the congressional committee. J. p
Morgan went TO Europe before h
could be served with a subpoena an
I returned only a few weeks ago
Major f. II. Farrar, leader OF IN
= New Orleans bar and recently pres
e dent Of the American Bar association
a is associated with Mr.. Untermyer a
+ counsel. Major Farrar has been T
/ New York for the last two weeks co
n laborating with Mr.. Untermyer In th
h work Of preparation for the resumptio
, Of the Investigation after the electio
r in November