The chronicle=news., 1913-01-09

TO la6 per cent. In the last four
years dividends Of 226 per cent have
been paid. In 1908 beside rcgul-
ar dividend OF SO per cent an extra
dividend OF 100 per cent was declar-
cd for organizing the first security
company to do business not author
izcd by the national bank act. He
said the company did little business
in stocks.
Mr.. Baker testified that in 1908
he owned individually more than
half OF the stock OF the Chase Ma
tional Bank. None. he said was held
by the First National. He could not
say when that control was acquired.
but thought about five years ago. He
said no assets Of the First National
had been used for the purchase OF
the Chase stock.
Mr.. Baker testified that when the
securities company was organized
the Chase Bank stock and other bank
stock held by individuals In the Iu-
tcrcst of the First National were
turned over TO the company.
Mr.. Untcrmyer wanted a list Of
the stocks.
Il had rather not make those
public said Hr. Baker. "They are
our private business. am perfectly
willing. however. TO le, the commit
tee xo over the list and place In the
record such stocks as II believes per-
tinen, to the inquiry"
Mr.. untcrmycr. with MIR. Baker
and his counsel went over the list
aud finally placed In the record the
following list OF stocks held by tho
Firs; Securities company.
Minneapolis First National Bank.
500 shares: Minneapolis Trust cou.-
parry. zoo: Bank Of Trust company.
$500: Brooklyn Trust company $50:
Astor Trust company zoo: Chase
National Bank 2s.:S3: Liberty Ma
iionaI Bank 9:S: New York Trust
company eco: National Bank Of
Commerce 5.&O0.
Mr.. Baker said that the bulk Of
Bank We're turned over 10 the Sccu-
rifles company.
THE department at WaShlngton. -
he .aid. complained about our hold
| ing railroad stock and the company
WAS organized to satisfy the govern
mcn,.'
Don't YOU believe that the or
ganixation OF the Securities company
Is an evasion OF tho banking acs -
asked Mr.. Cntefnyee. mn
oh no. said Mr. Baker. he adj.
cd ;ha, the Securities company had.
since It's organization paid dividends
oi from i: TO II per ceIt year and
mad accumulated surplus Of 81.
900. 900.
The company does not do much
business In the buyias and selling
OF stocks" he said.
You control the management Of
the First National Bank don't you:"
Il would not like to be 80 con.
ceiied as to say that
Would YOU like to be 70 honest
as TO say that"
'Td like to be honest. but I could
not control the management II I
wanted to do anything the others
did no; want done
Mr.. Rakcr 10 led that the manage
mcnt OF the First National was
sort Of happy family"
Washington. Jan. s.-Becausc he
refused to give the house money
trust committee the names Of "a ma
''onal bank officers who proiitcd In
u syndicate formed to market stock
OF the California Petroleum company
George G. Henry of Solomon and
Company. New York bankers. was
certified to the speaker Of the house
today for contempt. Tho full bank
ing aud currency committee voted
unanimously for that action,
Henry testified that national banks
and national bank officers parttcI.
patcd in a syndicate to the extent
OF $o.ls".ooo and without putting
UP any money or taking over any
stock took profits Of about $4,000.
He maintained that his confidcu.
tial relations with his customers
would not allow him to furnish names
OF the participants and presented a
statement framed by former Senator
John c. Spooner rs counsel, justify.
ing his refusal to answer.