Newark evening star and Newark advertiser., 1912-12-19

: The financial lawyers, r. v. Linda
bury, of Newark, n. j.: Joseph H
Choate. Delaney Nicol and John c.
spooner, Of New York. held whis-
pered conference as Mr.. Morgan took
the stand, and Mr. Untermyer. coun-
sci for the committee. began the ex-
animation
Cart you give the committee =
statement of the deposits OF ynur
banking firm in New York as Of No
vember 10" asked Mr.. untermyer.
Mr.. Morgan approximated il at
about s10e. e.00O,0 600.
He said he would furnish a state
ment showing the figures. Mr. Nor
gan said he and his partners were
directors in some OF the interstate
corporations that have accounts
with J. P. Morgan & Co." His couu-
sci agreed to furnish a list of those
directorships.
Mr.. Morgan produced. in response
to question, copies of the fiscal
agreements between J. P. Morgan &
Co. and the New York Central ana
the New York, New Haven and Hart
ford railroad companies.
Can you give US from memory =
list of other interstate Corporations
for which you are fiscal agents p
asked Mr.. Untermyer.
Mr.. Morgan could remember no
others except the United States Steel
Corporation and could not estfmats
the number. Mr.. Morgan said his
firm had supplied the COMMITTEES
Nth Hat ho+ T.
myer replied that such data included
only those corporations with which
Morgan & Co. had formal agreements.
Mr.. Morgan said his firm acted for
the American Telephone and Tele-
graph Company. the Northern Pa
cific and the Southern railroad, al
though they had no agreements WITH
them.
Mr.. Untermyer took up the North
ern Pacific reorganization.
Member of Voting Trast.
Was that property reorganized
under a voting trust ?"
Mr. Morgan said 1t was and that hs
was member of the voting trust
In that connection he added, .sI'd
| like to present these reports
/ Mr. Morgan said that there were no
other such agreements made by his
/ house He said the firm acted as
fiscal agent for other companies by
tacit agreement"
You are acting for number OF
other corporations, are you not. IN
| eluding the United States Steel COR
poration?" >" suggested Mr.. Untermyer.
'fYes. but that was by resolutions
I - ~. - - - -
corporation" said Mr.. Morgan.
As to the other agreements where
/ by the Morgan house became fiscai
agents for corporations. he said they
were "by word of mouth or by cor
respondenee."
sole Bankers for y. Y. Central.
Mr. Untermyer read part Of the
/ New York Central fiscal Agreements
/ by which Morgan & Co. were made
sole bankers for the railroad M
/ Morgan said he had been a director
OF the New York Central about thirty
five years.
/ Included In the fiscal agreement for
the New York Central lines were the
Michigan Central. the Lake Shore and
the Cleveland. Cincinnati. Chicago and
St. Louis railroads. Mr.. Morgan said
that some issues Of New York Central
securities had been made in the last
/ ten years through other bankers than
his house.
4 can't recall any. but 1 think fhero
were some" said he.
In the last I'VE years7"
Il don't remember OF any. None
that / can recall just now" His 1rIlI
would furnish information on that
point. Mr.. Morgan said the firm had
handled several hundred million
dollars worth Of New York Central
sContInued on seventh Paseo