New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-03
Democratic Legislators Are
Pleased at Morgan
Retirement.
MOVE REGARDED AS
A WILSON VICTORY
MANY Government Suits Under
Anti. Trust Law Will BE Af-
fected by Withdrawal.

va>r.r-tor. Jan. democrats hailed
.,-sev The res. guation OF Morgan interests
s-,-. rerr diroctorates as the surrender
thc money trust" lnterlocking direct
,.sfe, have been legislative red rags 10
MANY members OF the ruling party and
many amendments concerning this phase
of francs were offered I'm connection with
che currency br Several bills are now
,.,sirr before tho House judiciary Com
,r.,tee on che same subject
Tho news created profound surprise I'm
Congressional circles Many Senators and
psrresertatiycs believed that the action
aiken Bog The Morgan house would have
,bs effect Of delaying further work by
congress. Others insisted that legislation
20 prohitit Irterlocking directorates would
DO passed so the present session.
The move OF the Morgan firm is re-
ssrd,5 as Wilson victory. but in the
absence o. Tho President none Of the mem
hers OF the cabinet was willing 10 make
anv statement tn regard to the action OF
the fnanc.ers
Many az the governments important
.-ast suits v.n be affected il is re-
rardcd as almost certain that the action
AGAINST The New Haven Railroad will be
settled out Of court Members Of the Nor
gan frm and some former members are
involved ln suits pending against the
United states steel Corporation, the In
fernatonal Harvester Company and the
so-caued shipping trust. Compromises are
possible in alb these cases.
The voting trusts OF the Guaranty Trust
COMPANY and the Bankers Trust Com
psry o. Sew York. OF which members
Of the Morgan arm were members. were
scorel FOO the money trust report, and
membership upon many other boards by
individuals o. the firm was characterized
by the Puio investigating committee and
tr samuel Jntermyer as evidence of the
money trust
Members Of the old money trust COM
uittee were away from Washington to-
DAY. bat their report declared the Nor
gan house had twenty three directorships
IN thirteen banks and trust companies
HAVING total resources Of 81 10000, and
total deposits OF SeSs o0o 90. four director
shlps 10 four insurance companies, and a
controlling stock interest ina another, the
total assets being sl24s00o.co; twenty
eirectorships in twelve transportation sys-
tens. having total capitalization oil
NJaoN0o
Twelve directorships were cited iu sever
producing and trading corporations, in
Guiding the United States steel Pullman.
General Electric and others. having to-
tal Capitalization Of tl.9ss 600 900 and total
Gross annual earnings exceeding Ss9S,oJ0.-
zoe and four directorships IN three public
utility corporations. having q total capl-
iaiization Of SlW3.0oo. 90 and total gross
annual earnings Of Se34,o0.-co That made
sxu-three directorships in thirty-nine
.ornorations having total resources or
qualification Of &l0.J35 10000.
The report also found that j. J.. Morgan
O. GO. had two Of the three voting trus-
tees Of the Guaranty Trust Company Of
Sew York and one Of the three voting
trustees Of the Bankers Trust Company
of New York until George W. Perkins
retired. one Of the three voting trustees
az the Chicago Great Western, two Of the
1--WE voting trustees Of the international
Mercantile Marine Company one Of the
three voting trustees Of the Southern
RAILWAY. one each Of The voting trustees
in the expired voting trusts Of the stock
~ the International Harvester Company
the Northern Pacific the Reading Com
pany and the Erie Railroad.