Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-01-10
STREETS BIGGEST
man TESTIFIES.
BEFORE PUJO
COMMITTEE
George F. Baker DisclOses tho
Millions Which New York
First National Has Avail
able for Investment.
WITNESS REFUSES TO
ANSWER FEW QUESTIONS

By Leased Wire ~ Evening Herald
Washington, Jan. t1.--The millions
which the First Rational bank OF New
York has g,ailablc for Investment
Ncre disclosed a, todays hearings oi
George >. Baker chairman uf the
tanks board. before the house money
trust investigating committee. Mt.
Baker, popularity referred to as The
biggest man la the street" testified
that lhr bank had t7tooo,uUo avail.
stlc for Investment OF which SAL
0p3 900 was out In demand loans and
s:i.V0c, goo ir time loans and dis
counts. The bank holds tt3.tt5.UuO
In securities and has gross deposits Ot
S.iO.UO0.0UU.
Counsel tnt,rmycr tor the commit
tc, Ted Nj Baker through u line Ot
Cu' stioning which was intended to
irinE out his close relations with the
~ heads la the anthracite tclds, us
uanN referred To- as tdo hsrd coal
trust. pithout developing more than is
generally known. Twice when Mr..
untermSer wanted information ot IN"
banks connection With the First Sc.
Curitiss company tho question was
held In abcyancc until Mr.. Baker
could confer with his counsel
when MI. Baker took thr stand he
uskcd permission to makr q state.
mcnt
YOU m.do me- out such great
holder of dircctorships Yesterday 10
said 10 Mr, UntermScr, that ! Vish 10
say that I never occanc dircrtor or
voting trustee company at my own
t'li,itatiun,
we nave ils' begun tu asR you
abVut your directorshlls" said Mr,
Untcrtn,rr He a,!1 II that 4 list fur
Wstcd by MI Itt.t's bank SHOW 90
tiii d!t, rtors - nv First National
tr'f cishty .eigl' dire gtOrshlps N
other corporation In thlriy.scvcu
corporations, members OF J. = Nor
ssn and company. and directors oi
the FIRST National JanA Nrrc common
directors.
Mr.. Baker agreed go furnish q list OF
tho corporations In which h" himself
vas director ", thought II" h"Ic
about Htty such places.
Mr. UntcrmCycr asked Nr Baker i
he could supply statement oi ih'
accounts bN which IN" Firu Na,ion'
bank tY'r'N NHh other institution
banded th,ouIu ,NudIcat" i-sucs "
securities l..r piin'.' said MI r"iE
So hau sd,i-'. h,E mat to dem NJ
thi1 Information VAS bcNond tho pu"
or of the committee. The tacts yer
noV know u In dctau hS IN" conptr"'
Ter of tho currency aud r" believe
ia. committee had NO right go deman'
them 90 bc exposed to the public.
4 long cOut,r'U," between MI
Baker. FISHER \. Baker aud t"rme
senator John G. Spoou'r nis c"un''
ended Vi,h request That IN" pu''
ton be passed 20 allow counsel l
conslder tho LEGAL phases
4 statement ot the deposit vt IN
Flrst National Lrnk Oar placed In to
record SIR Baker said hc b'l'''"
the average deposits yer" about A'"o
UUu. 900 Ou November I, th' ban
had lla acrounts Nhh balances
s29.GfG.e.7.tf.
MIR Untcrmypr went back tu NJ
Bakers opposition 90 the publicity
bank assets but hr Vas unable
shake the nutnviyr's attitude.
Mr.. Rakcr tcstihcd that th" s''u
itics turned over by M" FIRST y
tonnl bank to the FIRST StcHrsu
rOmpauy we're largely ut '"mpan'
10 which hc was q director or a Noh'
trustee. Mr., rntcrmycr tried 90 va
tu have him testify thtt the pr
securities company aud IN" FiIst y
tional bank Ncrc operated praru''l
as "a single concern. The Nin'r-
not Whnt kO diyulgc the price at "hr
the securities COMPANY s"lu p'ri
its ChuHc bank stock to preside
Virgins ct the chase MT Int'
mycr did not press IN" question
H,lker rald that despite the sale
practical control ~ the company
With the securities company and \
Virgins lie remarked u'dt often
small per Ccntagr ot actual -"
holdings insured control ui laT
corporation,
Loan operations ot the Chase ha
and the First National on IN" sto
exchange we're taken up, but
Baker knew little ut the details.
toroN of Mr.. Baker. the First sect
tiles company and allied concerns
the hard coal roads was discussed,
rsuucst tor list uf an stock held
the securities COMPANY met With
tentative refusal and again the uu
lion was passed to allow cuntrrcn
with counsel
During the luncheon recess
Baker consulted with his couT
about furnishing the committee
of tho transactions In floating sec
tiles In which his company rad &c
Jointly with j. r. Morgan and OF
concerns when the hearing WAS
sumed Mr.. Bakcr announced he
dctcrnined 20 furnish that and ot
data the committee desired n
board of directors of the first
tional hank decided that II might