Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-12-18
SD CONGRESS-.
IP. Morgan to Testify at
money Trust" Hearing.
Clapp Committee Resumes In
vesiIgalion Of CampaignF Funds.
Teslimnnv glfforod hs In lud0a
Testimony Offered As TO Judge
hrcfIbaId's Coed Reputation.

Washington, Dec. III. Pierpont
arrived in Washington, tonight, to an
swer subpoena to testify before the
House committee on banking and cur
rency investigating the Money Trust.
Mr. Morgan expected TO take the stand,
tomorrow, but it is probable he will
not be called. before Thursday, accord
ing to the program of investigation
mapped out by Samuel Untermyer,
counsel for the investigating commit
tee.
Mr.. Untermyer said that several wit
nesses now on hand We're to be exam
med, tomorrow. The committee will
first take up the main head of the
Money Trust inquiry relating to the
Concentration of money and credits"
and it is on this point that Mr.. Morgan
will be examined. Before he is ques-
toned. however, a mass of statistical
matter prepared by experts will be
placed in the records.
The committee,sto to-day, took up the
attraction Of money to New York by
kigh rates Of interest on call loans
and received an analysis of statistics
on the subject which showed that
country banks loan on Stock Exchange
securities vast sums at times when
the demand for funds force a high
rate on the New York call money mar
ket.
Frederick ILewisohn was recalled,
today, and consented to answer a ques-
ton asked by Mr.. Untermyer which
he declined to reply to, yesterday. The
questions related to the profits of the
syndicate which launched the stock of
the California Petroleum Co., on the
stock market. Mr.. Lewiston placed
in the record the syndicate agreement
under which the stock was sold, and
the participation letters which assign
ed the share of the deal taken by Lew
isohn Bros. William Solomon Co.
ard Halgarten e Co.
Mr.. Lewisohn, under examination
declared that he believed a law which
would result in the making public of
statements of promoters, brokers and
intermediary profits ON all stocks be-
fore the stocks were listed.-with the
Stock Exchange would be beneficial to
8 the Investing public. Such laws. MIR.
Untermyer brought out, now are in
force in European countries. III
Washington. Dee. IA caucus of
Democratic representatives will be
called. early in January. with a view
to reaching a determination upon the
broadening of the scope of the pro-
posed inquiry of the New York, New
Haven & Hartford Grand Trunk Rail-
road situation SO as to probe into the
political activity of railroads in New
England.
1t is likely that move will then
be made to have the caucus create a
special investigating committee.
Pressure already has been brought
to bear upon some of the Democratic
leaders to have the investigating COM
mittee inquire into~Athe political pow
er and relations of the railroads in
Massachusetts, New Hampshire, Con-
necticut, and Rhode Island particu-
laTly. The old charge that the Bos-
ton & Maine Railroad, since passed
under the control of the New Haven
Road, used it's powerful influence to
bring about the defeat of Senator
William f Chandler of New Hamp
shire and to dictate the filling of other
offices in that state has been brought
to the attention of some of the lead
ers along with other political matters.
1t was announced. today, that decis-
ion on the O'Shaunessy resolution
calling for the investigation of the
railroad situation in New England
probably would not be reached until
the first week in January
Washington. Dee 17.-Erom persons
prominent in Pennsylvania affairs
and in federal court circles of the
East, the attorneys for Judge Robert
w. Archibald of the Commerce court,
drew testimony, today, as to his good
reputation, in his trial before the
Senate Impeachment court for alleged
misconduct in office.
Among these We're Judge George
Gray and Judge J. b. Mcpherson, of
the federal court; Chief Justice ID.
Newlin Fell, of the Pennsylvania SUI
preme court, Presiding Judge Charles
+. Rice. of the Pennsylvania Superior
court and Ex-Governor w. \. Stone.
For the first time during the trial
Judge Archibald withdrew from the
Senate chamber, during the testimony
of the witnesses as TO his reputation.
Attorneys for Judge Archibald hope
to be able to finish the presentation of
testimony tomorrow.