The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-01-10

That Is too bis question for uie
10 answer"
terrnyer, that when I asked II yau
saw IMPROPERLY mean from a b4si
ness point Of view in acting or tie
boards Of competing roads"
III ! did" eaid Baker, Il would
NOT do tt
Here his uncle nodded solemnly
You DO not either see any iga-
nraprt@ty IN AcEinE an the hoard II
eirerent potentially competing
banSs?"
NO. SIR not al ail.''
Nor of Industrial corporations
s'So, sir
You think it is perfectly consIs-
tens?"
And often very beneficial" return
ed Baker. who now proceeded to
quote Mr. Gould.
Mr.. Baker at first declined 10 gtve
the sist of banks in which ne held
securities. and never did give COM
plete list, although he named few
OF them IN answer 70 questions
among others being tae First Ma
tional, the Bank CT Comne-ce. the
First Security company, The bankers.
Farmers, Guarantee md AEt1g Trust
conpanies the Chase National and
othars He said he Regarded the
holdings OF "a bank official IN aecuri-
ties as private as nis tail3r's bill,
but said II the committee desired The
information so much he would sup
ply II 10 tse.r counsel.
Another question which BAKER re-
FUSED to answer Was concerning his
holdings in the Equitable. u de-
veloped when lie did answer that ne
had none. bat is sad He'd wsssh the
responsibility of taking a third of
Mr.. Morgan's stock whenever that
nagnate calls IN aim TO do so.
Getting At t7s relations Hss+=--sA-
Morgan. Baker, StIllnaan. and other
giants OF finance, on which the con-
tention that there Is q money trust
Is based, Untermyer inquired concern
ing the purchase of the stock o. the
Rank OF Commerce from the Equl-
table by Stiiinian and Baker.
Baker said that he bought from
the Equitable and Stiilman from the
Mutual because he, Baker, was a
member OF the finance committee OF
the Mutual and could not with prop
erty deal with that concern. The
1900 odd shares that he bought no
distributed, giving 5000 OF them to
his daughter selling some to banks
and holding others. He said there
was no agreement between himself
and Morgan and Stilimen as to the
purchase OF this stock. although they
had talked II over. He did not know
what Stlilman did with the stock
that ne bought.
Speaking OF Morgan's purchase q
the Eqlsttahse.~ Baker. said III. was
one OF the generous things Mr. Mo-
gan thought he wanted 70 do. We
felt that we should back him up IN
II. That is about the sum and sub
stance OF It. We knew there was no
money in It and probably large
loss"
Did Mr.. Morgan consult With you
gentlemen" I
eyes, we used to consult together
a great deal about things after the
panic
"Yeu have very extensive joint in ,
terests, haven't your
ne. do not think &C." said Ba-
her.
Stocks Held Jointly.
II -esently developed that Baker |
meant by joint interests, stocks held
r. tictnt account. He afterwards adj |
uitted that he and Morgan and Still |
n.an we're interested In common II !
many enterprises. but insisted that |
although some Of them had been i
hough. Jointly. each was free to do |
with ris holdings as he chose with |
out st.rctson OF the other
How many enterprises are you In /
te.sste6 In together
II do not know"
should you say there were fifty |
sta operation OF large magnitude In |
tweniy-six corporations
Il should not be surprised"
Within the last Few years?
yes. SIR
reker said that ne did NOT know /!
thar he was Jointly interested with |
the Morgan concern In many coal /
carrying railroads
sHt,en the question was pat again, I
he sale! Il acknowledge right of that /
we havo an interest with them, but |
Il is not held jointly"
Interested In Railroads.
Goin~ a little further the witness
admitted that he was interested in
some of the Goa, carrying roads with
George F. Baer. Daniel G.. I1sdi,
Charles Steel and Mr.. e. T. Stotes-
bury, 81 thu Morgan frrA Fehcn-