davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Favors Minority Representation.

lie said he believed minority stock
holders OF corporations should have a
proportionate representation on the
board OF directors. lie and Mr.. Inter
myer argued over the legal standing
OF this question.
DO you or do you not approve OF a
change in the law that would give the
minority stock OF corporation a right
OF representation?" asked Mr. Inter
myer.
II certainly would approve of that
II it were properly safeguarded and
properly introduced and arranged so as
10 conduct ii properly"
sir. Perkins declared he did not be-
lieve persons ought to have the power
TO 20 out and buy one or two shares or
stock and then demand representation
on board OF directors and raise hob
with the institution"
Mr. Untermyer asked II Mi. Perkins
had formed any idea as 10 me deslr-
ability Of placing the stock exchange
under legal control Mr. Perkins SAID
he favored putting the Stock Exchange
under federal control. adding:
II feel that IL the Stock Exchange were
Incorporated and put under some broad
system OF regulation that IL would inure
10 the benefit OF the people who were
investing In securities and would be
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16

BY the Globe Bank. He did not believe
the Lawson advertising campaign had
any relation to the Globe failure.
Mr. Burrage said that Butte e. Boston
stock was exchanged for Amalgamated
at rate OF four shares of Amalgamated
for one OF Butte & Boston. which, with
Amalgamated at $50, made price of so
Butte Montana. he said was exchanged
share for share with Amalgamated In the
merger.
Mr. Untermyer asked IL Mr.. Rogers
and Mr.. Rockefeller had not acquired
Butte & Boston and Butte & Montana
and had then. as directors of the Anal
gamated, voted to buy this stock from
themselves. But Mr.. Burrage did not re-
member.
But you know that the value OF these
stocks increased from 100000 to tlci.-
600. 600 when they were transferred to the
Amalgamated?"
"Yes-a profit for those who held the
shares"
Mr. Burrage said that i'm 1904 he ordered
all his papers and accounts DESTROYED be-
cause Mr.. Lawson and Mr., Rogers We're
engaged I'm an alteration. adding: "Thev
were both friends Of mine and / did not
wish 10 become involved
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
ADMITS
PERIL IN TRUST
Continued from first page.
Life have combined resources Of ST.
0e 900 900. making q total in these nine
institutions alone, and without regard
to other affiliations, Of S2.489 100000.

Assuming now the situation To be as
described I'm these exhibits. and assuming
further that the business Of making large
issues OF securities OF the great inter
state corporations has during the last five
years been conducted mainly on joint
account between Messrs. j. i. Morgan &
90, the First National Bank and the Ma
tonal city Bank OF New York; Lee Hlg-
ginson e. 60. and Kidder. Peabody & Co,
Of Boston. and the Illinois Trust and
Savings Bank and the First National
Bank or Chlca 90 and knowing what YOU
90 as 10 the methods of business and as
"a the financial power and affiliations OF
those banks and banking houses and their
control Of financial. railroad and indus
trial corporations. please state whether,
and II so to what extent, this concentra-
tion and control Of money and credit con-
stitute q peril 10 the progress and pros
perity Of the country. and state also. II
YOU will the reasons for your conclu-
Ciop
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
~ relerrnph 10 Th. TrIbune.

Albany. Jan. lj.-Assemblyman Madden
If Westchester County, hopes TO settle
,he Yonkers streetcar strike by Dill!
which ne introduced to-day authorizing
municipal ownership Of street surface
railroads in the city OF Yonkers.
The hill OF Mr. Madden would enable
the CITY TO purchase by condemnation
the nroperty and franchise Of the Yonkers
Stree, Hallway and allow the city TO con-
struct maintain and operate street sur
face railway in the city of ionhers ana
adjoining cities, towns and villages The
necessary money is to be raised by bonds
and the railway is to he under the con-
troll of a superintendent OF street ran
wavs. TO be appointed by the Mayor and
IN hold office during the pleasure OF the
MayOr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Mr.. Perkins Not Sure.

In reply Mr.. Perkins delivered long
talk on economics. the gist OF which
was:
every one will agree that at a GER
tain point concentration would be
peril. but whether at the point you say
il has reached il would be peril !
cannot say. have been out OF touch
with these affairs for two years, and |
would want to study these questions
very carefully.
I'm opposed 70 the concentration OF
money power. brain power or energy
where that concentration is likely to
result in harm"
When Mr.. Perkins took the stand Mr..
Untermycr asked what was his pres
cnt occupation to which he replied:
We'll. am a student just now. !
also spend considerable time testtyinS
before Congressional committees"
Mr.. Perkins told OF having been a
member OF J. +. Morgan & co. and OF
his connection with the United States
Steel Corporation. He was still d.
rector and member OF the finance COM
mittee Of the corpora ton, he said. and
had a great deal TO do with its bust
ness organization after It was formed.
As a director OF the Steel Corpora =
ton and the International Harvester
Company Mr.. Perkins is a defendant in
the governments suits for the dissolu-
ton OF these concerns. AS Mr.. Inter
myer began 10 ask him about these
two companies there was much specu-
lation among lawyers and others as to
whether his answers would give him
immunity from any possible govern
ment prosecution.
Mr. Perkins said the steel Corpora
tion bought IFS own stock only. so far
as he knew. to be sold to employees
under profit sharing schemes.
We never knew he said. of the
corporation buying its own stock to
protect II In the market. and know OF
no pools To manipulate the market in
Steel stock
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Tells OF AmaIeamated Copper.

Albert c. Burrage. Of Boston, testified
no was one OF the original organizers
Of the Anal gamated Copper Company IN
1896 He named as his assistants In the
deal william Rockefeller, Marcus Day.
II II Rogers and other 1nanciers. Mr.
Rurrsge could not remember how much
WAS made by the organizers in turning
over the various properties to the Anal
gamated.
was the profit ss9Ou0,OOO?" asked Mr.
Untermyer.
81 could not say" answered Burrage.
who declared he could not remember his
own profit or that made by Thomas w
lawson, William Rockefeller or Mr..
Rogers
MIR. Burrage said he got his profits in
securities as far as he could remember.
and did not get any Butte, Boston or
Boston < Montana.
"Wil you say that your profit was not
more than 100000 asked Mr.. Inter
myer.
II could not say" answered Mr. Bur-
rage, who added that he knew OF no rec
ords OF the deal.
Then this entire deal. involving S5,-
600 900 was accomplished without the
scratch of pen?" asked the counsel.
yes, so far az / know"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16

better for tho public and the people
conducting it's business
What legislation would YOU recon-
mend to remedy abuses on the Stock
Exchange"
Well. that is a matter tina leads into
detail | believe that many of tho so
called abuses would cure themselves
with plenty Of publicity said Mr.
Perkins who added that he would afford
tho investor a better opportunity to
know Of the intrinsic value Of securities
in relation to the Stock Exchange quo
tatiOnS.
What would YOU do about manipula-
ton Of prices 10 false values asked
Nj Uniermyer.
We'll. that is very difficult ques-
ton" said Mr. Perkins. That form OF
gambling Is INDUCED IN even down to
tho farmer who sells his wheat this
winter for delivery next spring
Mr. Perkins said he knew nothing per-
sOnally about manipulation OF stocks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Couldn't Remember Details.

Mr. Burrage could not remember details
of operations by which Amalgamated
took over Boston & Montana and Butte
& Boston. Later. he said, the Globe
Bank, OF Boston. failed holding a large
block Of Boston & Montana stock. Just
prior to the failure Mr.. Lawson con-
Quoted a vigorous advertising campaign.
pulling Butte & Boston and bearing"
Boston & Montana. Mr.. Burrage said he
had taken no part IN the negotiations by
which. the Amalgamted organizers Sc
cured the Boston & Montana stock held
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Hard to Define Gambling.

"One Of the committee would like to
know what YOU think would happen II a
law was passed prohibiting gambling in
stocks" said Mr. Untermyer.
Mr. Perkins said II was a question
as 10 just what was gambling on the
Stock Exchange. lie did not know
whether such a Law would release large
sums OF money now tied up in specula-
ton. lie favored small boards Of di-
rectoTs for banks. with concentration Of
responsibility and an enforced certItica-
ton Of directors that they know the
exact condition Of the institutions.
After Mr.. Untermyer had framed his
hypothetical question as TO a money
trust MI. Perkins launched into a dis
sertatiOn on concentration"
We're up against concentration in
every time Of life" said the witness. Its
the same in our government. You say
these companies control 52.3Io,0VOo0. Now.
that is approximately the same as one
years crop OF the country. That sum
does not seem so larg, when coutrasted
with all Of the money the crops bring in
over period of years.
I'm opposed to the concentration OF
the money power brain power or energy
vhcY. that concentration Is likely To re-
suit In harm. This question is one that
concerns men as much a. money Why
II Mr.. Morgan were 10 get ont AN issue
OF securities on the desert OF Sahara 10
would probably be- subscribed Everything
is tending toward concentration. Why
this committee, instead OF doing its own
questioning, went out and got itself the
best lawyer ia the country.
For half an hour Mr.. Jntermyer tried
I'm vain 40 get definite answer to his
h. potheticdl question, but MIR Perkins
said he could not assume 20 know the
facts assumed In the question.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
Should Not Trade in Own Stocks.

do YOU believe that directors should
he allowed 70 trade In the stock OF
their own corporations on advance in
formation secured by them through
their connection with the corporation? 49,
asked Mr. Untermyer.
Il do not" said Mr.. Perkins.
The Steel Corporation was the first
big corporation to give entire publicity
10 its affairs. was IL not"
Yes. 80 FAR a. / know
Mr.. Perkins said he believed all cor
porations should give publicity to all
their affairs.
Now. as to the organization Of the
Harvester company that was more
particularly your job. was ii not?'
1T was" said Ms Perkins
Mr.. rntermyer told Mr.. Perkins that
he did not wish To ask any questions
that might bear on the suit Of the gov
eminent against the Harvester trust.
In fairness to myself and the com
miitre." said Mr.. Perkins Il suggest
that / have just testified in that suit,
and IL would he difficult for me To tes-
tify about the Harvester company
without infringing on the matters at
issue"
Mr. Untermyer dropped the questions
a. To the Harvester company after the
witness said he was a member OF its
finance committee.
Mr. Perkins said he was one 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 few trus-
tees p" asked Mr.. Untermyer.
Nj. Perkins answered that he be-
lived voting trust was used in or
ganizing a new concern 10 insure it's
being run along certain lines indorsed
by the trustees.
a few young men in New York who
met occasionally at dinner and about
town felt that there was an opening
for another uust company in New
York, and we organized this one" he
said. and added that the Bankers Trust
Company was the first financial insti-
tuition organized under a voting trust.
do you approve Of the continuance
Of this voting trust?" asked Mr.. Inter
myer
Probably not" said Mr.. Perkins,
"but / am not sufficiently familiar with
conditions to-day to say"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
POLICE, FIGHTING GIRL
STRIKERS, BLOCK CARS
Biot from Curb to Curb Ties
Up All Traffic on 125th
Street Line.
100000 WOMEN NOW OUT
Reserves Called Out When Pick
cts Abandon Persuasion and
to Quell Strikers Charge
on Paywindow.

rbirtv-two thousand women garment
makers Joined the rest Of the strikers
,asterday. making a round 100000
workers who have combined forces to
make the manufacturers and employers
s,brit 10 their demands Shortly after
yesterdays contingent had quit their
machines scenes of strife began 10 be
enacted in the city's streets.
Although it had been announced that
the garment workers would adopt
resceful methods in their fight against
the employers, in two widely separated
sections Of the city il was necessary to
call upon the police reserves 10 quell
rioting.
bitter battle was waged in West
10Th street between sevcnty-fve strik-
ers and an equal number of loyal en-
rloves and the police last evening. The
warning factions engaged in hand-tO-
hand conflicts from curb TO curb, stall
ing all surface car traffic for twenty
minutes and giving the police a hard
time.
The fight started outside the building
AZ No. SO West 10th street, where
Rosenstock & Cohen, shirtwaist manu-
facturers, occupy the fourth floor
Several DAYS ago seventy-five men and
girls employed in the place went on
strike. and threats Of trouble have been
made since. Just as the employees who
had remained on duty and score Of
strike breakers left the building at
closing time Yesterday. the storm broke.
The women strikers had posted
pickets along the street from Eighth
avenue 10 Morningside avenue. When
the loyal employees and the new ones
began 10 file out Of the building, at
No. 313 the pickets tried to persuade
them to join them and go on strike.
These proposals were Indignantly re-
fused by those who remained at work,
and thereupon the trouble began.
Blows Replace Pleadngs.
Finding moral suasion was of no
avail. the girl pickets began 10 use
physical force which was resented in
kind by the employees of Rosenstock
& Cohen. In a twinkling individual
fights started all over the street. Girls
locked in desperate embraces started
10 scratch each others faces and tear
each Others hair. In q few minutes
more than hundred girls were Tight
ing tooth and nail.
The battle ragged from curb 10 curb,
on stoops and in areaways. and even
extended 10 the middle OF the car
tracks used by the crosstown and
Third and Amsterdam avenue surface
cars. In the fury of their fight the
maddened women paid no heed to the
Changing OF the motormens bells,
finally forcing all the cars to come TO
o standstill.
While hairpins and hair were flying
about and, the clothing Of the comba-
tants was being ripped and torn
somebody sent in call for the re-
serves from the West 10th street
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16

The public came In in shoals, didn't
it?" asked Mr. Uutermyer.
Yes you might say that, said Mr..
Burrage He could not say whether the
insiders" entered large requests for
subscriptions TO the stock. but he knew
that before the stock was allotted the
price had gone to Sis or Sl20 "A sl(0
share. About $4,000 900 OF offers. he said,
we're received for the 100000 OF stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16

police station. They came down the
street on the run and started in to
separate the mauing. hauling, push
ing and clawing women. After TWEEN
~ minutes of desperate strife the
police succeeded in quelling the riot.
When heads were counted it was
found the police had taken nine pris
oners, all women. one Of these,
Sarah Kordian, twenty-five years old
Of No. 2J2 East 1850 street. gave Pa
trolman O'Leary a hard fight before
she was subdued. She fought the po-
iceman all over the street, leaping at
him like a wildcat, and he was in an
exhausted condition when she was
finally overpowered
All the prisoners were locked up on
charges of disorderly conduct.
Charged on Pay Window.
Earlier in the afternoon nine women
and two men were arrested when they
attempted 10 force their way into the
factory building of the Majestic I'm
dcrgarment Company, at No. IL West
18th street The strikers had gone TO
the factory to be paid off, and when
they were told that only two at time
would he allowed TO enter the cashiers
room they tried TO take the place by
storm.
After the police reserves from the
West 18th street station had been
called in they rushed the strikers into
a hallway and Cornered them. Some
of tho strikers succeeded in breaking
away and attacking the employees OF
the place. All were locked up on
charges Of disorderly conduct.
An incipieut riot was started early
last night when the reserves from the
9th street station, under Sergeants
Quinn and Devanney. drove up in the
patrol wagon 10 East Houston street
and the Bowery, where Patrolman
Lawlor was trying to protect some nom
union garment workers from the attack
of men and women strikers. The no
Three persons were arrested.
Two more arrests were made at 18th
street and Fifth enue. where a num-
Der Of private detectives were escort
ing strike breakers to the l4th street
crosstown cars. The detectives were
attacked by union workers.
Several arrests were made in Brook
lyn in the afternoon, when crowd Of
strikers tried 10 prevent workmen from
entering clothing factory around the
corner from the Butler street police
station. Three persons were arrested.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16
vAesHALL TO HUNT IN ARIZONA

Chicago IAN. 1.-THE Vice-Presdert-
elect and Mrs Marshall started tonight
for Arizona where they oill visit friends
Mr.. Marshall purchased hunting clothes
TO-DAY. as he expects to geek game while
AWAY.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-16

on Board The
carefully
The
calculated
ned TO by the New York Insurance Department
Signed day sKITT GEORGE ROBINSON Committee
o. January 1913 lEDWIN SCHENCE SAMUEL CAREY.
Imperial Valley press., 1913-03-28
UNDER THE ARCADES

Ross & Stuart are showing the first
of local peas.
Sam. w. Dunaway has a tempting
candy display in one of his windows.
The Wing Furniture Company has
ordered 1000 fans for warm weather.
The Imperial Valley Hardware Com
pany is unloading a car of refrigeraI-
KeIly's Nursery has stock of the
finest orange trees ever brought to the
valley.
now connected with the Stanley-De
BloiS Garage.
The Enterprise Grocery will have a
demonstration of National Biscuit
Company goods Saturday.
c. f. Sprouse has sold his 100 acres
adjoining the city limits on the north
east to an Iowa man for considera-
tion of about $4,000.
Harry BroWnstetter of Yuma, pre-
prietor of the New York Store here, is
H. the valley for few days preparing
for the opening of a store at Imperial.
The Valley Shoe Store has received
a shipment of misses o'clock shoes.
A school flag coupon is given with
CacA PAIR so that school children may
obtain a flag for their school
The Purcell Sargent Land Company
has sold this week 160 acres to a San
Diego man and 60 acres to a Ventura
man, both tracts located in the No. D
territory. Mr.. Purcell is in San deg
today.
The Delta Implement Company has
received a car of Standard mowers,
and also has received the new water
system for the Harold Bell Wright
ranch, a big affair, which is being
taken to the ranch today.
Imperial Valley press., 1913-03-28
APHIS' WORK ON BARLEY
IS DOING GREAT DAMAGE

From many parts of the valley there
comes a report of great damage to
barley by the aphis, which is much
worse this year than ever before. Many
fields have been so damaged that the
owners have plowed them up and are
going to put in cotton or other crops.
The extent of the damage Is re-
ported 50 great that it may seriously
affect the yield of the valley this year,
and ii calls for the careful attention of
live stock men, who may put in an un-
usually large acreage of Egyptian corn
this year as an offset TO the loss of
feed.
Harry II. Smith, superintendent of
the state insectary at Sacramento, has
been in the valley for some days study
ing the work of the aphis, and is pre-
paring to make extensive shipments of
the ladybird into the valley in time to
protect the cantaloupes-
There are three varieties of the aphis
at work in the valley, those working
on cantaloupes, corn and barley each
being of separate type. The lady
bird being impartial, however, and be-
ing willing to eat any OF them.
II is believed that these can be ship
ped into the valley to protect barley
hereafter. They breed here at the rate
of zoo young a month, but when they
hibernate in the fall in cracks in the
earth they are thought - be killed by
irrigation, and each year a new lot is
required.
Imperial Valley press., 1913-03-28

After hanging to the roof of their
home for thirty hours, with strong
winds blowing and heavy snow fall
ing, August Schmidt, his wife and two
could move a muscle, they were so
chilled
Il would have fallen into the water
if it hadn't been for daddy" exclaimed
the little girl, who was the first of the
four to recover sufficiently to talk.
When the water came into 'the
house we had TO climb on the roof
Daddy held me and mama held broth
was going to die, but daddy kept hold
of me"
a little boy who, during yesterday
and last night, clung> in full sight of
the rescuers was rescued, but probably
Will die. The little fellow was discOV-
cred after the flood had risen SO high
it could not be weathered.
In foreign settlement a father shot
and killed his four children and his
wife and jumped into the flood.
Very few cases of Iooting have been
reported Two lOoters caught by the
militia We're taken before the chief OF
Don't bring looters to me-" the Of
fcer said Kill them where caught"
Tuesday in the business district
show cases filled with silverware, cut
glass and jewelry floated out of a
store, going unnoticed down stream.
From all parts of Dayton come
stories Of heroic rescue. The stolid
volunteers pay no attention to them.
All of them for three days have con-
stantly offered their lives to save 9TH
ers- Several lost their lives. Watchers
on the banks saw them trying to reach
persons in floating houses, saw their
boats upset and the men go down.
Late in the day large frame house
floated down the river. Four women
the Main street bridge they waved at
the crowd on the banks and the build
ing struck the piers. There was a
swirl in the waters and a little farther
down stream the debris appeared, but
without the women.
Farmers from north Of Dayton as far
as so miles are answering an appeal
for provisions and bringing all they
can spare, keeping only enough to pro-
vide for their families. Relief sta
tions are furnishing coffee, hot soup,
sandwiches and clothing to all who
come.
Through all, prominently to the fore,
stands a firm belief in the strength
Of the great Miami river levee and
huge death list.
Early Tuesday morning volunteers
hurried through the threatened dis
tricts warning residents to move. These
but at o'clock those who treated the
warning lightly were battling for their
lives in the rush of the waters. The
west levee had gone out. Other breaks
followed. reservoir break added to
the torrents and homes were jerked
from their foundations and torn to
pieces.
The Fifth street bridge and a rail-
road bridge went out. Four others are
sta pding and can be used.
The toll of life also was augm ented
through the lack of boats. Riverdale,
where the greater number were saved.
had 25 boats, taken from a pleasure
resort. The volunteers risked their
lives to remove persons trapped in
their homes.