Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-01-03
MORGAN co. BEGINS
MOVEMENT FOR
ABOLITION Of
MONEY TRUST
CONTINUED From Page oneJ

~~~~~-~~~~~-~-~--~~~ --~-~-~-~,-~~--~-~>---~--~>
to resign from some of these connec-
tons
Indeed It may be. in view Of the
change in sentiment on the subject
that we shall be IN a BETTER position
to serve such properties and their Sc
eurity holders If we are not directors
We have already resigned from the
companies mentioned and we expect
from time to time to Withdraw from
other boards on which we feel there
ia no special obligation to remain
The companies to which Mr. Nor
gan referred. from whose boards
members Of the firm have already
submitted their designations as di-
rcctors are.
}. r. Morgan-New York Central
8 Hudson River Railroad company;
West shore Railroad company; Lake
Shore & Michigan Southern railroad.
Michigan Central Railway company,
New York. Chicago & st. Louis rail-
road; Cleveland, Cincinnati, Chicago
& St Louis railway. New Haven g
Hartford railway; Central New Eng
land railway; New York, West Ches-
ter & Boston railroad; Harlem River
& Port Chester railroad; Mihrook
company. New England Navigation
company. New England steamship
company: Rhode Island company;
Rutland Railway company. Hartford
& Connecticut Westerns New York,
Ontario & Western railway. Western
Union Telegraph company.
other members Of the firm have
retired from these companies:
Charles Steele-Jersey Central Rail
road company; United states steel
corporation.
H. p navidson--American Tele-
graph & Telephone company, Astoc
Trust company; Guaranty Trust COM
pany OF New York Chemical Ma
tional bank.
W. +. Porter-Bankers Trust COM
pany; Guaranty Trust Company Of
New York
Thomas w Westinghouse
Electric x Manufacturing company:
Utah Copper company. Aston Trust
company. Bankers Trust company.
BY Withdrawing from these cor
poratlens J. p Morgan & Co. have
cut the strings that have held to-
gether many Of the eountry's mos
important corporations in a commun-
+ ity Of interests which has been as
sailed Within and without congress.
The house Of Morgan feels that it has
/ kept within the law, in al its COM
pick operations, and that ne legal ne
F Cessity or threatened complications
with The authorities az Washington has
+ made il necessary 10 ADOPT ~ sweep
ing change i'm policy announced to-
+ day
i enc of the members of The firm
said That Morgan & co. had been
scrupulously careful 70 observe the
law. ana that the decision Of the firm
+ was primarily matter of expedi
ency Conditions had so shaped
themselves in the past. he said. that
+ the firm had been compelled reluc.
family 90 accept the burden OF man
agement of various CORPORATIONS and
that IL had long been seeking an OPP
Iuortunity To lessen this burien. The
chief consideration. IL was said. which
+ has prevented the firm from taking
some such action before this time was
f the possible complications which
might follow such action. Investors
throughout the world have purchased
securities marketed by the house Of
Mersan, and 1t was felt that the firm
7 had assumed responsibility in this
+ Connection which could not De lightly
+ iald aside
/ For several DAYS Wall street had
heard Tumars that Morgan { CO. had
decided on az important change in
Iits policy
/ IN spite OF The large number Of res
Z ignaticns announced today. Morgan
& CO. are still represented on the
+ boards az a number Of important cor
E porations j. ?. Morgan remains "a
+ director in the United States Steel
+, corporation. Northern Pacific. Inter
national Mercantile Marine company.