Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1914-07-07
Presidents Choice for Gov
ernor Will Be Turned
Down By Senate.
JONES CONFESSES
HE'S TRUST MAGNATE
ChicagOan Tells Senate Committee He
Voted With Mccormick in Harves-
ter Company, Opposing COmpli.
ance With Custer Decree.

Washington, July 6.-Thomas D.
Jones of Chicago, the presidents
personal choice" for the federal re-
serve board and understood to be his
selection for governor of the board,
today created sensation before the
senate committee on banking and
currency by his answers to questions.
The committee, which is consider
ins his nomination, had called upon
him to explain his connection with
the harvester trust and the zinc trust.
In view of President Wilson's writ
ten statements to the committee that
MI. Jones went on the board of d.
rectors of the harvest trust for the
purpose of affecting sertain reforms,
Mr.. Jones was asked to tell the COM
mittee how he became connected with
the trust.
In reply he made the following
statements concerning his connec-
ton with the two trusts:
The harvest trust:
He became director of the trust
to oblige its president, Cyrus H. Nc
Cormick.
He was a personal friend of Mr..
Mccormick.
He was elected by the voting trust,
consisting of George W. Perkins OF
P. Morgan & company Mr.. Nc
Cormick and Mr.. Deering.
In the affairs of the company he
devoted with Mr.. Mccormick.
He fully approved the acts Of the
harvester trust since becoming
member of the board of directors.
iv nj fo
the policy Of the harvester trust.
When Former Attorney General
Wickersham was willing to consent
to a peaceable dissolution of the
Harvester trust, instead of bitter
fight through the courts, Mr.. Jones
cast his vote against it.
When the court of Missouri decid-
ed for the custer of the harvester
trust from that state, Mr.. Jones voted
against compliance with the courts
order.
The zinc trust:
Mr. Jones is president of zinc
company at Mineral Point, Wis.
He is a director in the New Jersey
Zinc company, known as the zinc
trust.
In 1897. he sold the Mineral Point
Zinc company to the trust for $780,
900.
The trust is capitalized at 100000
90. At one year it's dividends were
100000.
At the conclusion Of Mr.. Jones,
testimony the committee adjourned
without taking action on his name: Il
was admitted by many senator's that
It. will be practically impossible TOT.
the president to obtain confirmation
of Mr.. Jones in view of the state
ments he made today.
Confirm Three.
Late this afternoon the senate con-
firmed Charles s. Hamlin of Massa-
chusetts, A. G. Miller of California
and w. P. G. Harding of Alabama as
members of the federal reserve board.
Secretary Of the Treasury McAdoo
and Comptroller of the Currency john
Shelton Williams are members ex-
office and the board is now able 70
organize.
The only other nomination for the
board which has been held up IS that
OF Carl M. Warburg of New YORK.
The banking and currency committee
TODAY asked Mr.. Warburg Ito appear
before 1t on Thursday.
Borah Says He Wants Publicity.
Washington, July 6.-Senator Borah
today started the fight to have the in
junction of secrecy removed from the
proceedings Of the committee ON for
eign relations, in connection with the
Nicaraguan treaty, and to order the
debate on that and the Colombian
treaty in the senate conducted In
open session. After an animated dis
cussion, his resolution went over
until tomorrow.
Senator Borah said he had been
making careful inquiry on his own
account and had discovered much IN
teresting information bearing upon
these treaties.
$50 far as this Nicaraguan treaty
is concerned" said the Idaho senator
CONTINUED on Page 81