Norwich bulletin., 1914-07-14

subsidiary corporations, many or which served no purpose except an evil one.' The report, pointing out that on the New Haven board were
 representatives of the Pennsylvania railroad, the New York Central the United States Steel Corporation, the Standard Oil Company, the Pullman Company and many other interests, says that interlocking directorates Of this sort cannot be ..too strongly con- demned." This, it was suggested at the capitol, probably will have its ef- feet upon the trust legislation now before the senate and may end the talk about leaving the provisions aim all the senate and trust legislation. Evidence of Wrong Doing Difficult to
 Obtain.
 The commission discussed the ques- ton of immunity which may have been given to witnesses against criminal prosecution by the government, which led the department of justice to urge caution in the conduct of the inquiry. It declares that every such witness that seemed necessary was summoned and that evidence of wrong doing such as was disclosed' is difficult tc obtain, as such transaction are con- ducted in secret; and finds full jus tification for its action in the result ing discoveries.
 Revelations May Place Rsilroadins On
 High Level.
 'aThe insuring of honesty through the management of the great railroads of the country is most important ques- tion before the people today" says the report in conclusion. "and only when, through exposure of wrong doing and an awakened public conscience, coupl- ed with effective laws, that result is produced may railroading be placed on the high level that it should occupy. The revelations in this record make it essential for the welfare of the na- ton, that the reckless and profiigate financiering which has blighted this railroad system be ended and until this is fully done there will be no assur- ance that the story of the New Haven will not be told again with the stock holders of some other railroad sys- tenn as the victims"
 Commission Had Hard Task.
 Evidence that agents of the .com- mission did not have an easy time securing the information which 1t de- sired was contained in an appendix filed with the report On July D. E. Brown, accountant of the commission, wrote to Commissioner McChord, who Has Qlr0Cl6Q pn6 1nVeSClSdllOn, that his efforts to get at facts regarding the New Haven had not been met in a friendly spirit by J. F. Morgan & Company. Brown wrote that full &C., cess to the Morgan records had not been granted him as had seen promis- ed, that he was unable to say wheth- CT he had been allowed to inspect all the New Haven transactions on their books and that he was given only such correspondence as the firm submitted.
 "J. F. Morgan and Company wrote Brown, do not consider this proceed ing before a proper tribunal and it is only before such body or court that a proper submission of data will be affected.''
 This investigation" Brown added cannot be dignified with the title of investigation" No successful investi- gation can be conducted wherein the parties under Investigation specify the evidence and limitations under which it must be accepted. All that could consistently state is that have seen certain accounts and correspond ence pertaining to such transactions, substantially confirming the profits and losses published in their state ment of March 4, 1914.
 Whether such records as I have seen reveal the full story of their re- lations with the New Haven and it's related companies, I have no evidence, beyond the statement of the firm s representatives that such Is the ease.'' In an answer to an inquiry from I Commissioner McChord, Mr Brown l telegraphed on July 10, that the Nor gan representative was Dwight w. Morrow, who became a member of the firm July l, On July II Commission CT McChord telegraphed Brown that it .ls useless for you to continue the in- vestigation.''
 i The commission's report was virt- ! ualiy complete several days before MT. Brown was called in,