The Waterbury Democrat., 1933-04-22
BY WILLIS THORNTON
 NEA Service Writer


 NEA Service Writer
 New York, April 22.-Every one of the 20 partners in the House of Morgan has been notified to be ready. to appear before the senate banking and currency committees investigation of stock market and security practices, soon to recon vene.
 The committee, backed by greater authority than has ever been invoked in a similar in- quiry, is expected to probe deep into the House of Morgan and similar private banking institu- tions.
 This is not a prosecution, but an effort to paint a background on which later may be traced the outlines of the "new deal" in banking.
 Broader powers were granted by the senate without debate when initial questions put to the House of Morgan met rebuff from John W. Davis, their prin- cipal lawyer, once candidate for the presidency of the United States. Davis denied that there was "any disposition to refuse to answer any pertinent inquiries" but the senate has now decided that it will determine what in- quiries are pertinent. The final wording of the securities "Blue Sky" bill, and other bills to reg ulate, restrict and control bank ing will probably await the out come of these hearings,
 The spectacle of a Morgan on the stand always whets the pub lie imagination. And the pres ent J. P. Morgan has proved in past appearances that he is blunt enough; sharp -witted enough to assure fireworks if he tangles with Ferdinand Pecora, special counsel. Samuel Untermyer may become an assistant counsel. "I Am n Proud Man"
 One of those appearances was before the Maynor committee in an investigation of New York subways. Counsel, evidently elat- ed at the chance to grill a Nor gan, had been going at him rather hard. Morgan glared. "I am a proud man." he blazed, "and I will tolerate no further heck ling!" There were apologies, and no more heckling.
 No diplomat, Morgan has often presented his worst side when under inquiry, for to him all such inquiry is an impertinence. His reply to the Walsh industrial re- lations committee when again he considered himself heckled be- yond endurance with irrelevant questions, is recalled.
 An attorney demanded to know whether he considered $1o a week a proper wage. Morgan roared. "If that's all he can get and he takes it, I should say that 1t is enough!" That Is probably far from Morgan's real view, but 1t has followed him down the years.
 Twenty years ago the elder J. P. Morgan was put on the stand in the Houses Pujo Money Trust" investigation. That in- auiry, aimed at showing that there was a virtual monopoly of money and credit in the hands of few New York bankers. was inspired by another Roosevelt CT. R.) and his campaign against the "ma1efactors of great wealth." 'I'd Rather Go to JaiI'
 The elder Morgan disliked the idea of appearance before a con- gressional committee as much as does the son. 'I'd rather go to jail than discuss my private af- fairs" he said.
 But he did appear. and once on the stand seemed almost to enjoy the play of wit with Unter- myer. Morgan took the stand surrounded by eight attorneys, whom he ignored throughout.
 He denied that there was or could be a monopoly of commer- cial credit. "You cannot make a trust on money" he said. There is no way ono man can get a monopoly on money?" Un- | termyer countered.
 "No. sir: he cannot" affirmed Morgan, "he may have all the money in Christendom, but he | cannot do fl"