The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1913-01-16
BY ASSOCIATED PRESS.

Washington, Jan. 1ss-In q hypo-
thetical question put to George W.
Perkins today Samuel Untermeyer,
counsel for the house money trust
committee, outlined from the commit
tees records the concentration of
money and credit and then asked Per-
kins IL he considered it menace, and
peril to the prosperity OF the country" "
Perkins, replying to what he gem
orally considered Untermeyer's concep-
ton of the so-called money trust, as
serted he could not say whether at
the point outlined concentration is a
peril and took the position after con-
centration had progressed to certain
distance it should be subjected to gov
ernmental regulation.
The committee later decided to have
Chairman Pujo and Untermeyer visit
William Rockefeller and take HIS tes-
timony. Pujo only was opposed to the
procedure. The determination came
after the testimony of DR.. Richardson,
who examined Rockefeller at Miami,
that the oil magnate could submit to
a, brief examination.
In a hypothetical question to Perkins,
Untermeyer called attention to COM
mittee's exhibits showing the total re-
sources Of ]. p. Morgan Co.. the Guar
anty Trust, the Bankers Trust, the First
National Bank. National City, Chase
National and National Bank Of Com
raerce were a billion three hundred and
ninety eight million. The combined
resources OF the Mutual Life are a
uillion and ninety-one million, making
a total in New York institutions Of
two billion and four hundred and
eighty- nine million.
assuming the situation to be as
described" said Untermeyer, and
knowing the methods and financial
power and Affiliations of these institu-
tIons, please state whether. IL SO, to
what extent does this concentration
and control of money and credit con-
stitute a peril to the progress OF the
country"
ORGANIZED THE .AMAL0AMATED.
Albert c. Burrage Of Boston. testi-
Ged he was one OF the original or
sanizers Of the Amalgamated Copper
Company in 1896. He named as his
assistants in the deal, William Rookie
.eller, Marcus DAILY. n. II. Rogers, and
3ther flnanciers. Mr.. Burrage could
lot remember how much was made by
he organfzers in turning over the va
'iOus properties to the Amalgamated.
Was the profit $S9, 900. .0oo?" asked
Mr.. Untermeyer.
Il could no say" answered Bufrage
The public came in in shoals, u
iidn't it?" asked Mr.. Untermeyer.
YES, you might say that" said Mr..
Burrage.
About ss75.ooo,ooo of offers was re-
seived for the $4,000, 900 Of stock.
Mr.. Burrage said that Butte and
Boston stock was exchanged for Anal
gamated at rate of shares Of Anal
Eamated for one of Butte and Boston
which with Amalgamated at $50, made
a price of $50. Butte and Montana, he
said, was exchanged share for share
with Amalgamated in the merger.
Mr.. Untermeyer asked II Mr.. Rogers
snd Mr. Rockefeller had not acquired
Butte and Boston and Butte and Mon
sana and had then. as directors OF the
amalgamated. voted to buy this stock
from themselves. But Mr.. Burrage did
not remember.
But you know that the value oi
these stocks increased from sso.000.-
100 to $140,0 900 when they were
transferred to the Amalgamated?"
-Yes@a profit for those who held
he shares answered Mr.. Burrage.
Mr.. Burrage said that in 1904 he
ordered all his papers and accounts
destroyed, because Mr.. Lawson and
MIR. Rogers were engaged in an alter
.ation.
"They were both friends Of mine