The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1913-01-16
SAYS PUBLICITY
IS GOOD
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and others present as to whether Mr..
Perkins answers would give him I'M
munity from any possible government
prosecution.
Mr.. Perkins laid the corporation
bought it's own stock only, so far as
he knew, to be sold to employees I'M
der profit sharing schemes.
I'VE never knew of the corporation
buying it's own stock only, to protect
1t in the market and know of no pools
to manipulate the market in steel
stock" he said.
DO you believe. that directors
should be allowed to trade in the
stock of their own corporations on
advance information by them through
their connection with the orpora-
tom" asked Mr.. Untermeyer.
Il do not" said Mr.. Perkins.
THE steel corporation was the first
big corporation to give entire pub
licity to it's affairs, was it not?" asked
Mr.. Untermeyer.
Yes, so far as I know"
Mr.. Perkins said he believed all
corporations should give publicity to
| all their affairs.
Now, as to the organization of the
Harvester company, that was more
particularly your job, was it not?"
1T was" said Mr.. Perkins. .a@,se
Mr., Untermeyer told Mr.. Perkins
that he did not wish to ask any ques-
tons that might bearcHpon the suit
of the government against the Har-
vester trust"
I'm fairness to myself and h COM
mittee," said Mr.. Perkins, II suggest
that ! have just testified in that suit
and 1t would be difficult for me to
testify about the Harvester company
without infringing on the matters at
ISSUE"
MI. Untermeyer dropped the ques-
ton into the. Harvester company after
the witness said he was a membe of
it's finance committee.
Mr.. Perkins said he was n of the
original voting trustees Of the Bank
ers' Trust company.
What useful purpose is served by
placing the voting power of a trust
company in the hands of a few trus-
tees" asked Mr.. Untermeyer.
Mr.. ePrkins answered that he be-
lieved a voting trust was used in or
ganizing a new concern, TO insure its
being run along certain lines indorseo
by the trustees.
Mr.. Perkins answered that he be-
lieve persons ought to have power to
go out n buy n or two shares of
stock and then demand representation
on a board Of directors and raise hob
with the institution"
Mr.. Untermeyer asked If Mr.. Per-
ktns had formed an idea as to the
~desirability of placing the stock ex-
change under legal CONTROL" Mr..
Perkins said he favored putting the
stock exchange under federal control.
What legislation would you recon-
mend to remedy abuses on the stock
exchange%
We'll. that is a matter that leads
into detail. l believe that many OF
the so-called abuses would cur them
selves with plenty of publicity" said
Mr.. Perkins.
What would you Go about manlp-
ulation of prices to false values
asked MI. Untermeyer.
We'll, that is a very difficult ques-
tion," said Mr.. Perkins. THAT form
Of gambling is indulged IN ever down
to the farmer, who sells his wheat this
winter for delivery next spring.
Mr.. Perkins said he knew nothing
personally about manipulation OF
stocks.
The A~malsamated.
Albert &c. Burrage of Boston testi-
fled h g vas an organizer of The
Amalgamated Copper company in 1896
He named as his associates William
Rockefeller, Marcus DAILY, H. H., Rog-
ers and others. Mr.. Burrage coult
not remember how much was made by
the organizers in turning over the va
rious properties to the Amalgamated
Was the profit $4,000 ,O00.' asked
Mr.. Untermeyer.
Il could not say" answered Bur
rage He could not remember his
own profits nor those of Thomas w
Lawson, William Rockefeller and Mr.
Rogers.
Mr.. Burrage said he got his profit
in securities SO far as he could re,
member, and did not get any Butte
& Boston or Boston & Montana.
will you say that your profit wa.
not more than $4,000. 0oO?" asked Mr.
Untermeyer.
Il could not say" answered MI
Burrage. He knew of no records o
the deal.
Then this entire deal, involving
|, $75,ooo. 900. WAS caoNaaished withou
the scratch Ola Tehk?,Fs asked the coun
sci.
. Yes, so far as I know."