Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-01-11
Banker Baker Proves Hard
Witness to Get Anything
Out Of in Pujo Inquiry;
No Directorates Sought.
ROCKEFELLER TO
SAIL FOR MIAMI
Oil Magnate to be Met on
Landing by a Doctor for
Examination as to Fit
ness to Attend Hearing.

Washington, d. c., Jan. 1O.-Tha
millions which the first National bank
OF New York has available for invest
ment were disclosed at today's hear
ing by Geo. F.. Baker, chairman Of the
banks board. before the house money
trust investigating committee. MT a4s
Mr.. Baker, popularity referred to az
the biggest man in the street" testi-
fled that the band had $74,0O0,O00
available for investment of which SAL
100000 was out in demand loans and
$25,000,00O in time loans and dis
counts. The bank holds $43.466 900
In securities and has gross deposits
Of about $110,00O,OOO
Counsel Untermyer for the commit
tee led Mr.. Baker through line OF
questioning which was intended to
bring out his close relations with the
railroads in the anthracite fields.
usually referred to as the hard coal
trust, without developing more than
is generally known. Twice Mr.. Inter
myer wanted information of the banks
connection with the First Securities
Co. The question was held III abeyance
until Mr.. Baker could confer with his
The snmmittee will conclude sits
hearings for this week today and ad-
journ until next Tuesday Chairman
Pujo desired to push the hearings to
an end as soon as possible so that the
committee may get down to work on
its report to this congress.
When Mr.. Baker resumed the stand
today, he asked permission to make q
statement: M
Never Sought Dlrectorship.
"You made me out such a great
holder Of directorships yesterday he
said to Mr.. Untermyer. that l wish to-
say that never became director or
voting trustee Of any company at my
own solicitation n
1--WE have just begun to ask you
about your directorships," said Mr.,
Untermyer He added that list furn-
ished by Mr.. Bakers bank showed that
the directors in the First National
bank held lightweight directorates in
other corporations. In thirty-seven cor.
porations members Of J. p. Morgan q
Co., and directors Of the First National
bank were common directors.
Mr.. Baker agreed to furnish list OF
the corporations In which he himself
was a director He thought he held
about fifty sucn places.
Mr.. Untermyer asked Mr.. Baker II
he could supply statement OF the ac-
counts by which the First National
bank jointly with other institutions
handled through syndicates issues OF
securities. The witness said his cOun-
sci had advised him that to demand
this information was beyond The
powers of the committee. The facts
were now known in detail by the comp
troller Of the currency and he believed
the committee had no right to demand
them to be exposed to the public.
A long conference between Mr..
Baker, Fisher A. Baker and former
Senator John G. Spooner his counsel.
ended with request that the question
be passed to allow counsel to consider
the legal phases.
Unable to Shake Baker.
Mr.. Untermyer went back to Mr..
Bakers opposition to the publicity OF
bank assets, but he was unable to
shake the financiers attitude
Mr.. Baker testified that the
securities turned over by the First Ma
tional bank to the First Securities Co.
we're largely Of companies In which he
was a director or voting trustee. Mr..
Untermyer tried in vain to have him
testify that the First Securities Co.
and the First National bank were
operated practically as a single con-
Germ. The witness did not want to d.
vulge the prices at which the securities
company sold part Of its Chase bank
stock to President Virgins. Mr.. Inter
myer did not press the question. Loan
operations of the Chase bank and tho
First National in the stock exchange
were taken up but Mr.. Baker
knew little of the details. In
terests of Mr.. Baker, the First
Securities Co. and allied con-
Germs in the hard coal roads were dis
cussed A request for a list Of all stock
held by the securities company met
with tentative refusal and again the
question was passed to allow confer.
ence with counsel.
Rockefeller Leaves for Miami.
Nassau. New Providence. Jan. To-.
William Rockefeller has decided to
leave here today on board the steamer