Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1913-01-16
Long Questioning May
Prove Dangerous to Oil
Magnate,. Who is Shaking
With Palsy.
COPPER MERGER
IN THE LIMELIGHT
A. G. Burrage, Who Figur-
ed in Merging Of Mon
tana Mines, Shows Want
of Recollection,

r.
Washington, d. c., Jan. l5.-Al
though suffering from shaking palsy
and unable to speak above a whisper.
William Rockefeller will be able to
undergo brief examination" before
the house money trust committee. Il
his testimony is of paramount I'M
portance." So. DR.. c. d. Richardson
told the committee today. He said that
to submit the oil magnate, in the event
of prolonged questioning. might
cause hemorrhage or swelling or
the larynx which would stop his
breathing.
While Dr. Richardson and Albert G.
Burrage, who was concerned in the or
ganization of the Amalgamated Cop
per Co. testified, list OF financial
leaders waited to be called. They were
President Hines of the National City
bank of New York, Geo. w. Perkins,
Thos. w. Lamont, H. P. Dawson and
Geo: F. Baker Jr., the latter son or
the leading figure in the First Ma
tional bank.
Mr.. Perkins was the first to take the
stand when the committee resumed
the hearing and told OF having been I
member Of the firm Of j. p. Morgan
& Co., and OF his connection with the
United States steel corporation. He
was still director and member OF
the finance committee OF the corpora.
tfon, he said, and had great deal to
do with it's business organization after
1t was formed. Mr.. Perkins was a
director Of the steel corporation and
the International Harvester Co.
Burrage Had Poor Memory.
The committee will take up the
question whether Mr.. Rockefeller is to
be examined at an executive meeting
late today.
Albert c. Burrage OF Boston testi-
fled he was an organizer of the Alga-
mated Copper Co. in 1896 He names
as his assistants William Rockefeller,
Marcus DAILY, Fl. H. Rogers and others.
Mr.. Burrage could not remember how
much was made by the organizers In
turning over the various organizations
to the Amalgamated.
"Was the profit $4,000 OO0?' asked
Mr.. Untermyer.
Il could not say" replied Burrage.
He could not remember his own
profits nor those of Thos. w. Lawson.
William Rockefeller and Mr. Rogers.
Mr.. Burrage said he got his profit
in securities SO far as he could remem-
ber and did not get any Butte or Bos-
ton Montana.
"Will you say that your profit was
not more than $5,000,000?" asked Mr..
Untermyer.
No Record Of Deal,
II could not SAY answered Mr..
Burrage. He \ ,ew Of no records Of the
deal.
Then this entire deal, involving
$75, 100000 was accomplished without
the scratch Of pen?" asked the
counsel.
yes, SO far as / know"
"The public came in in shoals, didn't
it," asked Mr.. Untermyer. tS
"Yes, you might say that said Mr.
Burrage He could not say whether tho
'insiders" entered large requests for
subscriptions to the stock, but he
knew that before the stock was al
loted the price had gone to $115 or
$12O per 500 share. About $375, ,000-
900 OF offers, he said, we're received
for the 100000 of stock.
Mr.. Burrage could not remember
details OF operations by which Amal-s
gamated took over Boston &and Mon.
tana and Boston and Butte. Boston
and Butte, Mr.. Burrage said, was ac-
cumulated on his advice. Later, he
said the Globe bank OF Boston fxiled.
holding a large block of Boston and
Montana stock. Just prior TO the fall
ure, he said, Mr.. Lawson conducted q
vigorous advertising campaign, bull
ing" Butte and Boston, and bearing"
Boston and Montana. Mr.. Burrage
said he had taken no part in the ne
gotiations by which the Amalgamated
organizers secured the Boston and
Montana stock held by the Globe bank.
He did not believe the Lawson adver-
tising campaign had any relation 70
the Globe failure.
Shares Sold at $500.
Mr.. Burrage said that Butte and Bos.
ton stock was exchanged for Amalga.
mated at a rate of four shares OF
Amalgamated for one Of Butte and
Boston, which with Amalgamated at
$13O made a price of $500. Butte
Montana, he said, was exchanged
shave for share with Amalgamated In
the merger