The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-19
NAY CALL j. p. MORGAN
Preliminary Inquiry Has
Been in Progress for
Ten Days.
EXPERTS WORK ON BOOKS
Investigation to Cover Other
Matters Than WcStchester
Trolley Mystery.

w.sHiNGroN. March 1s.-The Inter-
rs.e Commerce Commission Is to hold a
rev Investigation into the financial opera
tons OF the New York, New Haven and
Hartford road The investigation, which
Is made in response TO a Senate resolu-
ton introduced by Senator Norris Of
Nebraska, is designed especially to find
out what became of 100000 900 expended
ny the New Haven In tic purchase of
he New York. Westchester and Boston
trolley lire. which the commission In a
rspor, made public last July declared had
vanished into thin air"
TIE Norris resolution directed the COM
MISSION 10 reopen its Investigation of the
New Haven. A preliminary inquiry has
been in progress for the last ten days
a,t the commission will now undertake
horoughgoing investigation. which will
| t;.ude the summoning OF many witnesses.
Ls said that j. u. Morgan will be called.
Experts mt Work On Books.
'he Morgan firm on March 9 made
| istic a fun statement, of its finai. cling
sN9lnts with the New Haven. showing
tai the irm had proiited only $3.50. 900
!cn all It's operations for the New !. wen
offending over period of twenty years.
ne commission intends now, however. to
90 It's 5es; to obtain full light on all the
Transactions which were not fully dis
;i'sed in It's first inquiry. The commits
son has experts al work not only on the
New HavrH's books but on the books of
IL subsidiary corporations.
The Norris resolution which Ia the
basis Of the coming investigation, was
passed BY the Senate abou, a month ago.
!; sought Information upon the West
t'es'er deal in particular but did not
! Init the scope OF the authorized inquiry
20 this operation alone.
The reported DISAPPEARANCE OF $4,000
800 in tine Westch. ster deal Was one of
the most serious OF the Interstate Com
mt'oe Commissions charges In the first
report The commission declared that
ns history OF this transaction was
safolied !u some mystery. The trolley
Inc IL vas said. was built and IL owned
% me New Haven. the road having ac-
alred certain enterprises looking to-
EA7d TIE construction of the trolley line
IN 1905 and 1906. In part the commits
Sons report on the Westchester deal is
" follows:
Mystcry Of the MiIIbroOk Co.
'be'~eeu November .. 1906. and May
l. l''', the NJ" Haven company depos-
"a With =, Morgan 4 Co. $1,000, 900,
'act was turned over from time to time
70 lie Mi.lhrook company. That company
ave Us notes to Morgan 4 Co. for the
.nouHis received by 1t, and these notes
we're passed over TO the New Haven COM
Hhy and were its vouchers for this
money II does not appear what the
""orook company was or what its rela-
loh 70 the New Haven company nor it,
hnsrclal standing.
Inc foah was completed and began
operations about June 81. 1912, and on
"a' DAT" the New Haven had invested.
n"4I''F interest, about s34. 0O0. 900. The
'e" lof.. W.stchester and Boston Rail-
way located entirely in the State of
'e" iofk md reports to the Public Ser
'''e IoInm.ssi OF that State. In this
'''N II is required to state among other
.-'"s' '1e value OF its tangible property
az HrS' report Of this corporation gives the
"'' OF its tangible property at some
''' less ,ulu S22.O00.000
"hcr. Did the Money Cor
mere therefore. is an enterprise which
'' v'si the New Haven company
''''''.n n excess of the value OF this
''F'N upon its own showing. Again
Nh tI'-t'n crises what has become OF
A. ''s,''""no' SO far as the record.
~ |e Ne" Haven company go tins
Dice 'tnlshed into thin air"
,, recent statement of the Morgan
%. upon its financing operations
Iu,E Nc" Haven denies any response
49, 10. .ne operations incident to tn,
N the Westchester trolley
0r' boz. * that no member of thu
c, .I "'' Interested In the Millbrool
et,.."s nr Do any Of the securities pur
Re- '4 'ho MillbIook company anC
m, h' such advantage from suci