The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1914-07-22
JONES MAKES
A STATEMENT

Washington, July 22.-Thomas D.
Jones Of Chicago, whose nomination
by President Wilson as a member of
the federal reserve board was unfa-
vorably reported to the senate by a
majority Of the banking and currency
committee, submitted a supplemental
staterlent of his case in a letter to
Senator Hitchcock, acting chairman
of the committee.
Mr.. Jones statement, made public
by OF der Of the senate at the instance
of democratic members of the bank
ing committee who favor his confirm
alton, was written after he had read
the u~nfavorable report of the commit
tee majority and he submits that the
procedure of the committee, particu-
larly with reference to his connection
with the New Jersey Zinc Co. was
grossly unfair, charging the commit
tee with ~stigmatizing as a trust" a
corporation against which there never
had been any complaint.
With reference to his connection
with the International Harvester Co.
Mr.. Jones said the company had been
doing business for six years when he
became a director and the government
then mad taken no action against it.
II then believed, and still believe,
that at h date of my acceptance of
the POSITION of director the CORPORA
ton was a law-abiding corporation
and hat it's business methods were
productive of benefit and not of harm
and Al that belief 1 accepted the posi-
ton Of director. AS to the other
branch. namely, the acts Of the COM
pany n it's board of directors since
/ became a director, SO far as I have
known they have been neither oppres-
sive Tor illegal in n particular.
WITH reference to the Missouri case
in which the organization of the har-
vester company was declared illegal.
Mr. Jones insisted that the charge of
unfair dealing by the company to-
ward the armer was emIhatically
denied by the court. .
Concerning the New Jersey Zin Co.,
with which Mr.. Jones also Is con-
nected, the ~Chtcagoan declared that the
charge made by the committee majority
that it GOWNS practically all the zinc
ore In the United States had mo- a
particle of evidence to support 1T and
that moreover, everybody knows the
beggarly rudiments of the zinc indus
try knows that the statement is not
simply false-it is ridiculously false
He criticised the committee for exer-
cising in its examination Of him "a
judicial function"
I'm an inquiry ostensibly intended
simply to determine my fitness for
public office" h letter added. "the
corporation in which l was a director
mas been branded as a trust n its
earnings stigmatized as unconscious
ble,' n these charges were spread
broadcast through the public press UNI
der he great authority of the commit
tee on banking n currency Of the
senate Of the United States" :
Reports reaching Washington from
White Sulphur Springs, w. Va, that
Senator O'Gorman Of New York had
conferred there with Paul NJ. Warburg,
AMI that some arrangements had been
made whereby M. Warburg would
agee to appear before the banking
committee were not known to any
members Of h committee in Washing
ton.
1t was stated at the White House last
night that despite the reports of the
accommodating conference, it was
not believed that Mr.. Warburg would
appear before the committee. Members
of the committee declared tina IL he did
ppear there would be no compromise
on the part of the committee In its atti-
tude.
senatrs shafroth, Hollis, Lee and
Pomerene, democrats, of the banking
committee, who favor Mr.. Jones' con.
firmatin, expect to submit their minor
ity report tomorrow and they hope to
have a vote on his confirmation before
the end Of the week.