Las Vegas optic. (East Las Vegas, N.M.) 1908-1921, 1914-01-02

effect on the market Even the stocks
of corporations most directly connect
ed with the House Of Morgan did not
vary in prices.
Has Kept Within the Law
BY Withdrawing from these corpor-
ations J. P. Morgan & Company have
cut the strings that have neld togeth-
er many of the countrys mosts i'm
portant corporations in a community
of interests which has been assailed
within and without congress. The
House of Morgan feels that it has
kept within the law, in all it's com
plex operations and that no legal ne
cessity or threatened complications
with the authorities at washington
has made it necessary to adopt
sweeping change in policy announced
today.
One of the members Of the firm said
that Morgan & Company had been
scrupulously careful to observe the
spirit as well as theIetter Of the law,
and that the decision of the firm was
primarily matter Of expediency.
Conditions had SO shaped themselves
in the past, he said, that the firm had
been compelled reluctantly to accept
the burden Of management Of various
corporations and that II had long
been seeking an opportunity to lessen
this burden.
The chief consideration. II was said,
which has prevented the firm from
taking some such action before this
time, was the possible complications
which might follow such action. In
vestors throughout the world have
purchased securities marketed by the
house Of Morgan & Company, and it
was felt that the firm had assumed
a responsibility in this connection
which could not be lightly laid aside.
For several days Wall street had
heard rumors that Morgan & Com
pany had decided on an important
change in its policy. In spite of the
large number of designations an
nounced today Morgan & Company
are still represented on the boards
Of a number Of important corpora
tions J. P. Morgan remains direct
or in the United States Steel corpor-
alton Northern Pacific railway, Inter-
national Mercantile Marine company,
National City bank and National Bank
Of Commerye II New Yphl Wr steele
III still 6l TIE bcssl41s OF sizs GGe0a 0si, f
I.ehigh Valley, Northern Pacific. Erie, /
Southern Chicago, indianapolis 3 I
Louisville, Chicago Great Western and
Alabama Great Southern railroads,
and the General Electric company,
International Hagvester company, IN
ternational Mercantile Marine and
Adams Express company. Mr., Davi-
son is on the boards Of the Erie and |
Cincinnati, Hamilton & Dayton rail-
roads, the Western Union Telegraph
company, the First National bank, the
National Bank of Commerce, the Lib
erty National Bank of New York, the
First Securities company and the
Bankers Trust Company of New York !
Mr.. Porter is represented in five
New York banks, the United States (
Life Insurance company, the Pere
Marquette railroad, the Remington
Typewriter company, the H. w. John
Manville company, the Fidelity and
Casualty company, the Cruickshank
company and the Associated Land
company.
Mr.. Lamont is still on the boards
of the Northern Pacific railway, the
international Harvester company, the
International Agricultural corporation,
the First National Bank Of New York,
the Guaranty Trust company and va
rious lesser concerns.
Baker Will Withdraw
George F. Baker, chairman of the
First National Bank Of New York,
and one Of the dominant figures in
the financial world of America, is
expected soon to withdraw from the
boards Of corporations with which he
is identified