Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1913-01-10
Mr.. BAKER ADMITS HIS
BANK HAS $74,000,000
AWAITING INVESTMENT
BIGGEST MAN IN WALL STREET AsToUNS MONEY TRUST INVEST
GORS WITH FIGURES NE MT1ES OFF WHILE On WIINtSS SlANu
CONFERS WITH COUNSEL BEFORE ANSWERING CERTAIN QUESTIONS
FENCES WITH UNTERMEYER ABOUT
RELATIONS WITH HARD COAL TRUTS

! WILL ADJOURN UNTIL TUESRAY.
Washingtonfi Jan. 10.-Durng the
/ luncheon recess Mr.. Baker consulted
I with his counsel about furnishing
I the committee list of the transac
tions in floating securities in which
his company had acted Jointly with
4 j. P. Morgan ana other concerns
! When the hearing was resumed Mr.
/ Baker announced he had determined
to furnish that and other data the
committee desirerd if the board OF
| directors of the First National Bank
decided that it might be made pub
/ lie. The committee gave him until
Wednesday to submit the informa'
ton.
Then it became apparent that Mr.
Bakers examination, which had be-
come detailed and involved might moi
be finished today. The committee
planned to adjourn until next Tues
day and it was said Mr. Baker might
be asked to return for further eX-
animation.
Mr.. Baker said he and E. T. Stotes-
bury were voting trustees of the
Cramp Shipbulding company of Phil
adelphia, and had since 1893 nance
the directors of that company. He
was asked in details as to his activi-
1 ties in number of corporations and
in several cases was unable to remem-
Der them.
/ The stock OF the First National
bauk was increased from $500,000 to
$50, 100000, in 1901. Mr. Baker said
and 40 per cent of the increased
stock went to individuals and the re-
mainder to the bank stockholders.
| who were those individuals" ask
ed Mr. Untermyer.
l After an argument with Nil. Eai.-
er and his counsel. MIR. Baker an
swered: Forty thousand shares of
that stock at $500 a share were sold
to me, and later disposed of it
where it would do the most good"
! is MORGAN "GREAT GENERAL?'
What is the present price of the
stock?"
About $1,000 share.
Mr.. Untermyer asked if ]. p Nor
gan held s15,000000 worth of stock
in the First National.
Mr. Baker said he did not want to
discuss the personal affairs of his
friends or himself"
rs Mr. Morgan recognized as the
great general in this financial army?"
asked Mr.. Untermyer
That's according to who you ask,
answered Ithe witness. 1--WE, his
friends, think he is
He is so generally recognized?'
Well yes,
And you and Mr.. James Stillman
are his chief lieutenants?'
We We're during The panic" said
SIr. Baker.
And you dominate the financial sit
uaticn?"
4 won't confess to that, said Nj,
Baker.
Here John C. spooner, counsel for
Mr.. Baker, interrupted with a laugh,
Tie isn't required to incriminate
himself is he?" he asked.
NO "DoMIFaANT"s PERSONALITY
Is Mr. Morgan the most dominant
figure in the financial w0Tld?' per-
sisted Mr.. Cntermyer.
He would be ii he were younger
know of no one who is more domi
nant,' replied Mr.. Baker.
There is no dominant figure in
finance now exclaimed Mr. Baker
There was during the panic but not
since the disturbances
Mr. Untermyer endeavored to trace
the relations of Mr. Bakers bank and
the Morgan firm.
Can you give us the name of any
issue of security of stock for which
you have competed with Morgan and
/, company in the past five years. he
asked.
No said Mr.. Baker. We usually
divide the issues.
Can you recall any single transac-
ton of $10,000,000 or more during the
last five years that has not involved
either J. p Morgan and company or
the First National Bank"
Mr.. Baker could not tell.