New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-02
Mr. Morgan q " itncs..

Mr. Morgan, vino was 2 witness for
almost an hour and half, took the
stand at 3:12 o'clock, after John
Mitchell, former labor leader, now q
member OF the State Compensation
Commission, was excused. Mr. Nor
Can had entered while Nr. Mitchell was
cr the stand and was an interested lis
rener TO some Of his testimony. At
no time did the questions put 10 the
banker cause him to lose his caimness,
and most Of his answers were accom-
panied by q smile. This invariably
appeared when he was forced 70 admit
his ignorance Of conditions in corpora
tions i'm which he is interested.
Throughout his examination M.
Morgan. VINO Was clad in a dark bust
ness suit and wore r large ascot 2.
directed his gaze at the commissioner
who put questions 70 him. Many OF
these brought replies Of 81 don't
know" Il don't remember" and Real
". 7 couldn't say invariably followed
by turning Of the head and hearty
laugh 10 himself. Once or twice the
answers also struck some OF the spec-
tators as humorous.
Mr.. Morgan said he was 4 director Of
the United States Steel Corporation.
the international Mercantile Marine,
the Northern Pacific and tho Pullman
company When asked m what other
corporations he either owned stock or
represented a considerable amount he
replied: "I'm afraid IL would be a
very long list, and / could only tell you
by looking at our books
The witness said that probably he
devoted from twelve 20 fifteen hours
10 the steel Corporations meetings in
% year. not including gatherings O. the
finance committee.
He admitted he had been furnished
with reports Of each, which told Of
financial standings. but had received no
report which would cover the labor
conditions Of each enterprise.
"Whv not ," he was asked.
Because circumstance do not
change as rapidly IN the labor condi-
tions as in the financial
Not Against Unions.
Mr.. Morgan was unable to state what
the effects OF organization had been
among employees IN the various compa-
pies. II do not know in just what cor
porations organizations do exist" he
said.
He declared he was not opposed %
men organizing, provided such an ac-
ton was lawful and proper. but would
be disinclined to deal with organized
labor that came and told him he could
rot employ outside help.
The witness pleaded ignorance Of col
lective bargaining when question on
that subject was put 20 him, and Com
missioner Weinstock explained. He
then replied that it might be con
sidered desirable so long as It did not
infringe upon his rights.
Mr.. Morgan explained that the Of
fcers Of a company, chosen by the di-
rectors, were responsible for its policy,
a matter for which neither directors
nor stockholders were liable.
He did not know the number Of per
sons employed by any of the com
panies in which he had an interest, but
thought the Steel Corporation had
about 10000
When asked by Commissioner Walsh
20 tell what the Millbrook Company
was the financier paused a moment,
and then said 1t had been a company
formed by the New Haven road in
1906 or 1907. But ! have no interest
in it," he added
The chairman then took up the re-
ports received by directors OF the COM
panies.
As members OF the board OF
directors OF the international her-
camille Marine" the witness said, 81 re
ceive a statement Of the financial con
dition. and also reports OF officers, the
finance committee and OF the general
conditions along the line Of the North
crn Pacific The last come by mail,
but | get the others a. the meetings.
They tell Of the minutes of the execu-
tive committee. which are read and
commented upon. and the general CON
dition and prospects, sales OF land and
crops.
What general reports OF the steel
Corporation do YOU get beside the
financial" Mr.. Morgan was asked.
Corporation Management.
Orders in hand. now business il go
ing and any matters chat come up in
the subsidiary companies in which the
opinion. of the finance committee Is
wanted"
He said he learned OF the physical
condition Of the plant in the annual
report.
The function Of a member Of the
Pullman company's financial commit
tee. ne stated. Wss 10 give financial re-
ports, but tho banker admitted thai
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