Evening star., 1933-06-27

more g. Ohio Railroad Co.. Chesapeake
g. Ohio Railway Co.. Chicago. Mil
waukec. St. Paul & Pacific Railroad
Co., Chicago & Northwestern Railway
Co.. Delaware & Hudson Co., Denver &
Rio Grande Western Railroad Co. Gulf
Mobile & Northern Railroad Co., Hud-
son Coal Co, Hudson Manhattan Rail-
road Co., Illinois Central Railroad Co.,
Indiana 81 Illinois Coal Corporation,
Inland Steel Co., International-Gre
Northern Railroad Co., Kansas City
Southern Railway Co., Mid-Continent
Petroleum Corporation, Missouri-Kansas
g. Texas Railroad Co, Missouri Pacific
Railroad Co, National Malleable Steel
Castings Co., New Orleans. Texas e.
Mexico Railway Co., Pacific Oil Co.,
Paramount Famous LaSky Corporation,
Paramount -PubliX Corporation, Penn
road Corporation. Pennsylvania Co.,
Pennsylvania Railroad Co, Southern
Pacific Co.. Texas & Pacific Railway
Co., Transportation Products Corpora
ton, Union Pacific Railroad Co., Utah
Fuel Co. Wabash Railway Co. West
Union Telegraph Co., Inc; Westing-
house Electric & Manufacturing Co..
Westinghouse Lamp Co, Youngstown
Sheet & Tube Co.
Balance sheets showing the firms as
sets and total deposits for the five years
from 1927 to 1881, inclusive, were placed
in the record.
1881 Balance Sheet.
The complete balance sheet for 1881
follows:
Cash on hand and in banks, $16,-
295 PAP
T.a1 IN,,C MI l1avN Neya
collateral, 100000.
All other loans, $8,378,314.
Accounts receivable. S777, ,409.
United States Government Treasury
bills and certificates, $24,9l9,859.
State and municipal bonds, SO, ,953, ,051
Other bonds and stocks, $6,350,968.
Total assets, $66,974 845.
Capital, S2l ,250000
| Deposits, $29,ll8,9l8.
| Accounts payable, $l6,605, ,927.
| Total liabilities S66,974,8 ,845.
| Balance sheets for the five years from
! 1927 to 1881, inclusive, showed total
assets dropped from 97,244 ,628 at the
! beginning of the period.
Assets in the other years were:
! l928-S86, 1863 970.
l929-$l204 402,l03
1930-s85, ,l55,75
wide variation in total deposits
was disclosed by the five yearly balance
sheets. For the other years they were:
1927-S69 ,449,Ol6
1928-$58 ,821.113.
! l929-S88, ,549, 1866
l930-$57 ,032 ,847.
Figures Are Deleted.
At the same time. the investigators
obtained from Kahn copy of the
partnership agreement under which
the firm operates.
The full copy was accepted for con-
sideration in executive session, but q
copy was placed in the record with
divisions of profits and losses deleted
The agreement showed that any
loss would be divided in the same pro-
portion as profits, but five unnamed
partners would not share in the loss.
Any disagreement over the conduct
OF the business would be settled by q
vote Of majority OF four partner:
whose names were deleted.
mo partner" the agreement said
shall, without the written consent
thereto of the other partners, directly
or indirectly speculate or be inter-
ested i'll speculation In stocks or any
other article whatsoever"
The agreement further provided thai
no partner could invest in a security
disapproved by majority Of the part
ners
The right to use the name of the firm
was confined to five partners. whose
names also were deleted.
Pecora next laid before the investi-
gators a list of 6 domestic and % for
eign banks with which Kuhn, Loeb &
Co. maintained deposit accounts dur.
ing the fye-year period.