The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1912-12-28
MORGAN RULES ALL
TWENTY-FIVE BILLION DOLLAR
LEAGUE CONTROLLED BY
NEW YORK FiNANclER.
U. S. INDUSTRY IN HIS HANDS
Gigantic Combination Of Interfering
Dlrectorates 10 Shown In Testl-
mony Given Before the PuJo Inves-
tipatIon Committee.


Washington, Dec. 20.-The house
money trust investigating committee
at its afternoon session here Wednes-
day. had J. Pierpont Morgan for a wit
ness. Samuel Untermyer began put
ting questions to the capitalist at 2:4O.
His daughter. Mrs. Satterlee: his son.
J. p. Morgan, Jr.. and Mrs. George b.
Case and Mrs. T. w. Lamont accom-
panied him.
The financier walked to the chair at
the end OF the committee table. He
was sworn by Chairman Pujo, stand
ing with his right hand appraised.
Mr. Morgan, In response to the usual
qualifying questions. said he was q
banker in New York city.
Are you a member Of a Philadel-
phia frm?" asked Mr.. Untermyer.
"Well, that's the same flrm." an
swered Mr.. Morgan.
"A Paris house?"
!. "They are all the same house. The
firm Is In New York with branches In
Philadelphia, Paris and London" said
Mr.. Morgan
"Who are the members of the firm?"
Mr.. Morgan gave the following list:
]. p. Morgan, H. p. Dawson, W. p.
Hamilton. T. w. Lamont, H. F. Lloyd.
]. p. Morgan. Jr.. A. A. Newbold, Will
liam H. Porter, Charles Steele, E. I.
Stotesbury and Temple Baldwin.
Mr.. Morgan said. the same partners
were in all the houses.
do you do a general banking busf-
ness in New York;"
1--WE try to-
Mr.. Morgan explained that his firm
did not belong to the clearing house.
but cleared its own checks over its
counter.
The committee at 1902 o'clock ad-
journed for the day.
The enormous power Of allied inter
ests, principally in New York, over the
financial, transportation, insurance.
public utility and industrial activities
of the country by means of interlock-
ing directorates, was shown In charts
presented to the house money trust
investigating committee before Mr..
Morgan took the stand.
The firm members and directors
whose affiliations with the Morgan.
Standard Oil and friendly financial
In the aggregate they hold TAG direc-
torships in las corporations having
total resources or capitalization Of
1925, 10000 as follows:
Dlrectorships number 1856 in II
banks and trust companies having to-
tai resources of $685.. 100000 and to-
tai deposits of S2.S34, 100000.
Fifty directorships in IL insurance
companies having total assets of ST.
GAG, 10000
Directorships numbering 155 in 81
railroad systems having total CAPT.
talization of s12.193, 900, 900. and to-
tai mileage of 10000. IN
Six directorships In two express
companies and four directorships in
one steamship company with COM
bined capital of s245.000.000 and
gross income Of s97,000,000.
Ninety-eight directorships in %
producing and trading corporations
having total capitalization of $3.-
5S3,000,000 and total gross annual
earnings in excess of $1.145, 0O0,O
Forty-eight directorships in 10 pub
lie utility corporations having a total
capitalization of s2.S26 900. 900 and to-
tai gross annual earnings In excess OF
$428, 600, 900.
Control Of these vast interests Is
exercised through eighteen financial
institutions, as follows:
J. p Morgan & Co., New York.
First National bank, New York.
Guaranty Trust company, New York.
Bankers Trust company, New York.
National City bank, New York.
Kuhn, Loeb & Co., New York
National Bank of Commerce, New
York.
Hanover National bank, New York.
Chase National bank. New York.
Aston Trust company. New York.
New York Trust company, New
York.
Blair & Co., New York.
Speyer & Co., New York.
Continental and Commercial Nation
al bank. Chicago.
First National bank, Chicago.
Illinois Trust and Savings bank.
Chicago.
Kidder. Peabody & Co.. Boston and
New York.
Lee, Higginson & Co.. Boston and