Daily Kennebec journal., 1914-03-09
j. p. MORGAN
CONTINUED from Page One)

we participated, $131, ,724,00o.
| Amount of our participation in such
purchases s7S.165,6e7.
| Losses realized by us on certain OF
such purchases s73s,52456.
Total profits accrued to us from all
the remainder of such purchases $780,
! 164.42.
Net loss to our firm from the total
of such purchases S1S3, 360.14.
Schedule Two-Section A.
Transactions in which. prior to the
fiscal agency contract we acted as
| agent for the company; the total of
securities involved in such transac-
tions being a par value of $5s,S51,s0S,
On these transactions total commits
sions paid by the company were $685.
561.13.
Being an average commission of less
than 3-10ths of one per cent.
OF this commission the amount re-
tained by us was $14S,645.35.
The balance being paid to others in
terested with us m the transactions.
Section 3.
All transactions under fiscal agency
contract (entered into on December
1s, 1910, and terminated on Decem-
ber 4, 1913,) for all companies ON
cluding Boston & Maine) showing
total of s142, 900.
OF securities sold for account Of the
companies ss37,605.
Upon which they paid total COM
missions of or approximately OF 5-sth
Of one per cent. for selling.
OF this commission the amount re-
tanned by us was 1884 ,9S0.01.
The balance being paid to others in
terested with us in the ansactions.
Summary of Schedules One and Two.
Schedule One: Amount of companies
outright sale of securities 1S1,7240oO.
Schedule Two: Amount of COM
panies securities handled on commits
sion s201 ,S5s.So3.
In all S33.0S2,S03
Total amount of commissions paid
by companies s996,166
Being a little less than one half of
one per cent.
Total amount of such commissions
retained by us s533, ,625.26.
Net losses realized by US in the out
right purchases (see schedule one)
S1S3, 3,360.14.
Difference. representing total profit to
us, $3.50 265.12.
This total profit of $3.50. .2s5. H. con-
tinues the statement. (being at the aver
age rate of 1850 per Year, is. as afore-
said, the net result to our firm of all or
our transactions with the New Haven
and its allied companies during the 20
year period just ended We have not re-
ceived from the New Haven or from the
companies affiliated with it any compen-
sation or profit in any form. or any other
account, than those herewith described. )"
Advances to Millbrook Co.
In his letter Chairman Elliott also ask
ed for specific information respecting the
total amount of advances made by the
Morgan house to oakleigh Throen or to
the Millbrook Co.
Replying to this, the statement says
that from October, 1906. TO September.
1907, ]. P. Morgan & Co. advanced to Oak
leigh Thorne and afterwards the Mill
brook Co, various sums aggregating sll,-
155,0G0 and that all these advances were
made by order and for account of the
New Haven Railroad Co. A list of Sc
curities against which these advances
were made is also furnished, these secur-
tiles having been finally turned over to
the nniilbrook So under instructions OF
the New Haven Co.
"In none of these transactions were
there any profit or commission to our
firm or any member of it," says the
statement "The New Haven Co. opened
with us an account which was designated
as Account No. q In this account the
company deposited from time to time
ruary, 1901 moneys to reimburse us for
our advances for its account to the Mill
brook Co.
'"rhe securities thus purchased by the
Miilbrook Co. represented the ownership
of those enterprises which afterwards be-
came what is known as the New York,
Westchester and Boston Railroad Co.
them, had any interest in the Millbrook
Co. or in any of the securities or property
purchased by the Millbrook Co, or re-
ceived any advantage of such purchases.
Nor had we any interest of any kind in
any of the enterprises or properties which
in any way became a part Of the New
York, Westchester & Boston"
A statement is attached showing that
any interest paid by Mr.. Thorne was
credited to the New Haven's account No.
and that the Morgan house received no
interest upon advances made.