The Birmingham age-herald., 1912-12-28
'UNTERMEYER THINKS | HE WILL YET PROVE MONEY TRUST CASE Some Examples of Men Who
 Have Felt Its Baneful
 Influence BUT REMEDY SEEMS AS REMOTE AS EVER Governments Counsel Is Resourceful Man and Promises Some Sensa-
 tions in Investigation Yet to Follow
ny F.. C. STEW ART

Washington. December 2.-(Speeial.l- The money trust investigation has devei- oped two things. it is believed by those whc have observed it's proceedings so far The first is that there Is as most everyone knew before hand, a powerful standardization of wealth in the hands or d very few men in the financial center or New York and that the chief factor in the control of all this money is J. F. Nor gan. The second is that if this is true, and 1t seems to be, that the machinery for < proper remedy Is going to be very hard to create and successfully set in motion.
 The star witness has appeared before the committed. and was closely examined by the committees star counsel, Samuel un- termeyer Nothing new or startling was developed: he simply told of the opera tions of Morgan X Go. which have been told a thousand times. MT. Morgan de- nied that there was any intention upon the part of his firm to create money trust, or to throttle competition; he does not believe that such a thing is possible. he says Mir. Untermeyer, however, is very resoureeful, and he promises some sen- sations in the investigation yet to follow. He is confident that he is going to be able to show that there really exists grim and vicious money monopoly which con trols the finances of this country as ab- solutely and entirely as any corporation controls it's own operations.
 After the holidays the testimony will dip into these things, which thus far have not been pushed forward. For in- stance, J. A. Moore of Seattle will be called to tell about his charges that the Western Steel corporation. an indepen- dent, had it's credit wrecked, both at home and abroad by people and interests thar opposed competition in the steel busl- ness. Mir. Moore's company mas slS,ooo.- coo capital and was located at Puget Sound
 Mir. Moore's Complaint
 Here Is the statement that he has laid before the committee which Will be the basis of detailed Investigation:
 "The stockholders of the corporation in 1910 authorized a bond issue of s2,0G0.ooO. Coming to New York, I negotiated for the sale of these bonds with one of the New York trust companies. The purchase of the bonds provided for a bonus of con- mon and preferred stock, accompanying the sale of the bonds. The bonds were engraved and the mortgage issued, with the trust company as trustee of the bonds. When the day arrived for the first pay ment on the bonds, an officer of the trust stated that they could not 20 on with the deal as they had been advised that 1t would be considered an nnfriendly act by certain interests in New York city.
 As consequence the failure to pur- chase the bonds in the fall of 1910 and the notoriety coming from such failure made 1t impossible to sell the bonds in the New York market. In fact, 1 soon learned that there was not a trust com pany or a banking house in this country from Chicago to Boston that dare offer the bonds of the Western Steel eorpora- tion in the open market for sale This be- ing true, l departed for Europe, beliey- ing that | could find bankers who were willing to buy the bonds of the corpora tion, providing they were satisfied that the security behind the bonds was ample.
 French Bankers Interested
 Soon after arrival there l interested some French bankers in the purchase of