New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-20
Doesn't Really Mind Competi-
ton, but Prefers Unity Of
Action in the Manage
ment of His Great
Operations.
WON'T ADMIT VAST POWER
New York Banker Gives House Com
mittee His Views on Control
OF Finance, Voting Trusts,
Stock Selling and Kin
dred Topics.
LFrom The TrIbunc Bureau.l

dSulUEloH. Zee. iJ,-DenNIils III"
existence Of a money trust, asserting
modestly. II don't feel have the vast
power you claim and protesting ig-
norance of the details Of many financial
transactions. involving millions, in
which his firm played a part. J. Pier
pont Morgan. the wizard of Wall
Street" spent four eventfyl hours on
the witness stand before the Pujo
money trust investigating committee
to-day His examination was con-
cluded and the committee adjourned
until January g.
The shaggy browed, sharp eyed, florid
faced hnancier dominating and yet not
domineerins, was picture of anima-
ton on the witness stand. Sometimes
he banged the table in front OF him:
again he swung half round in his re-
yolyng chair, glancins at his numerous
counsel apparently FOR appreciation.
and again he leaned forward witb.n
lew feet OF Samuel Uutermyer at,5rnvs--
for the committee. who shot questions
at him with relentless rapidity.
Speaks in Epsrams.
Mr. Morgan spoke often in epigrams.
He had forgotten" or did not know
much about the details wanted by the
committee but he was uneyasive when
it came TO seneralities. His attitude
throughout was that of philosophical
lmancer
From spectacular standpoint the
examination Of Mr.. Morgan was un-
precedented in the history of Con
gressional Investigations. An immense
crowd thronged the committee room
and maintained absolute silence as the
master fnancier talked of millions.
Toward the latter part Of the hearing
Mr.. Morgan's mood became extremely
cordial and his repartee at times anus
ing The crowd laughed. and occasion
ally Mr. Morgan joined in. He sat at the
end Of the long committee table, and
after making a telling point the great
banker would turn his back abruptly
on the committee members and look
L. Satterlee her husband, and the half
dozen Morgan attorneys present.
Mr.. and Mrs. Satterlee plainly showed
their anxiety over the flnancier's or
might not stand the strain of the lons
inquiry. At one time he turned 10 bis
daughter and asked FOR a throat rem
edy. as continuous talking was wearing
on his throat His daughter supplied
him from her handbag.
Mr. J'ntermyer said that if the inan-
cier was tired he would suspend to
allow him to rest, but Mr.. Morgan was
anxious to continue.
The banker breathed a sigh of relief
when Ar Cntermyer smilingly said.
about $3.50 o'clock: 81 think that is all.
Mr. Morgan" Toward the end Of the
hearing the bankers voice became
husky. and went off occasionally
in near-gurgle. He chewed his
lips and gums constantly and was more
or less ddgety at all times.
Left to His Partners.
one by one Mr.. Untermyer took up
the great banks. railroads, insurance
companies and other corporations
linked with the name of Morgan. Now
and then Mr.. Morgan knew few OF
the details Of their organization and
management and the voting trusts"
which controlled them. More frequent
". he talked of zone of my partners
who attended to that or somebody
in the firm
How much stock have you in the
CITY Bank and the Bank Of Com
merce?" was one Of the thousand-odd
questions asked by the committees
counsel.
"Oh. | don't know-a million or so.'
said Mr.. Morgan, in an off-hand man
ner
Everybody laughed and the financier
looked curiously about the room and
then chuckled himself.
"Did you say who could and who
could not go on the managing board OF
the Steel Corporation" asked Mr.. I'm
termyer
Nobody went on over my protest. =