The Sentinel=record., 1912-12-19
FOREMOST FlNANclER TELLS COMMITTEE WHAT HE
 KNOWS OF THE TRUST.
LISTENS TO THE TESTIMONY
Testimony for Day Passes Off With out Clash and He Will Resume His Story of the Financial World
 Tomorrow.

Washington, Dec. 1S.-J. Pierpont
 Morgan occupied the center of the stage today before the so called money trust Investigating committee of the house of representatives. The noted limancier reached Washington Mast night in response to a subpoena from the committee, but it was not unt |2:40 o'clock this afternoon that she way was cleared for his testimony to begin Meanwhile MT. Morgan sat for nearly an hour listening to the mass of statistics which Mr Untemeyer and the committee was piling up concern
 jag the collosal financial operations of leading New York, Chicago and Boston institutions through so-called inter locking directorates Mr. Morgan heard his own name and that of his firm referred to many times as tables were presented showing the affiliat- icns of that concern with many othe7
 banks, trust companies. transporta- ton and industrial corporations. He appeared to be unmoved throughout it all, sitting surrounded by number of his business associates, relatives and legal representatives, including J P. Morgan. Jr., his son, and Mrs.
 Herber. Satterlee his daughter
 MT Morgan's appearance aroused the keenest interest and crowds of spectators were on hand to observe the proceedings. It was to some ex- tent a continuation of much that had gone before in that branch of the in
 zF |, Ar1 tration of money and credits MT.
 Moraan,s testimony lasted ~-baTely twenty minutes and was largely pre-
 liminary to the testimony to be given tomorrow when the committee reas- sembles at 10:30 a m. Mir. Untemeye- conducted the examination of MT Mor- gan, asking a rapid series of questions ne firm of J. P. Morgan and Compan, 10 bring out the general standing oi it's branch institutions i'll this country and abroad, and its affiliations with many other financial institutions. Preliminary examination brought out no clashes, Mir. Morgan responding prom ptly to the various queries or cal ling for data from some of the repre- sentatives of the firm which would be responsive to the questions propound- ed
 The chief point made in today's ex- animation of MT. Morgan was that he favored allowing interstate corpora
 tions to deposit their funds in the hands of private bankers without re- stricting them to institutions under
 government supervision. He said this
 was a matter to be left to the discret- .fx cF of 4 corporations in question MT Unte-
 meyer asked lengthy questions de- veiopiifg this idea, to which the finan- cer replied briefly in the affirmative as to allowing the interstate corpora
 tions to so deposit their funds with | private banking institutions
 | Mr. Morgan confirmed data prepar- ed by members of the Morgan house, | showing that sixty six accounts with l the Morgan firm in January last had
 deposits of $6S, ,l13000 and that seyen- | ty eight accounts on November 1 had deposits of $S1 ,96S,000 The total capital, surplus and funded debt of | these depositors. Mr. Untemeyer stat ed. was $9.765, ,000 MT. Morgan agreed | to this.
 Prior to Mir Morgans examination | the committee heard testimony bear | ing on the so called concentration of
 money and credits. This was present ed in the form of charts prepared by | Phillip J. Schudder, which was placed
 in the record. This explanation show ed that the charts dealt with the af- filiation of 190 directors in eighteen banks and trust companies in New lfsl. Bftx o6 that these 1S0 men held in all 74t drectorships a l34 banks and trus ompanies, transportation and indus.
 trial corporations, having total re sources or capitalization of $25,325, l000O00p
 Ii also gave in detail affiliations oi It, P Morgan and company and othel
 leading financial institutions in New York, Chicago and Boston.
 Mr Morgan will resume the stanC tomorrow At the conclusion of hi. | testimony today he had a talk witl Chairman Pujo and other members o the committee and expressed the de sire to have his hearing passed a rapidly as possible He said ne wa anxious to conclude as he wished tt carry 'ou. plans for leaving on tril within a short time.
 Big Financial interests. | Philip Scudder, explaining his chart said the detailed tables showed tn extent of interlocl1ing directorates 0 various financial companies and bank to be:
 II J. P. Morgan & Company 64 disec
 tors in 39 corporations having tota
 assets of $l0,036, 000. GOO
 il First National Bank of New Tor