Evening star., 1933-05-31
Ho.U Far Do Lists
Bar Public Men Is
Question of Probe
BY G. GOULD LINCOLN.

Just how far does o business connec-
tion with the firm Of j. P. Morgan 81
Co. disq ialify man from holding pub
&c office?
This seems to be one of the collateral
questions growing out Of the Senate
Banking Committees present banking
investigation of the operations of the
House of Morgan.
The list Of persons with whom the
firm has been doing business was aug
mented today. Ferdinand Pecora. coun-
sci for the Senate committee, put into
the record the names Of several hundred
persons invited to purchase units" OF
United Corporation stock In January,
1929, som after the organization OF
that concern, huge corporation set up
to hold public utility stocks by the
House Of Morgan and Bondbright 81 Co.
Public Men on List.
In this list made public today, the
third presented, against men prominent
in many walks Of life. were included:
Norman H. Davis, at present an ennis
sary of this Government In Europe at
the Geneva Arms Conference; Senator
McAdoo Of California, Charles D. Hilles,
Republican national committee man
for New York, and John j. Raskob,
former chairman OF the Democratic
National Committee; Gen. John j.
Pershing, Charles A. Lindbergh and
many others were included in this third
list, names which have been on previous
lists.
Senator Kean on List.
Among the new names on this list
was that of the firm Of Kean, Taylor
g. Co.. to which was allotted 500 units
of stock. Senator Hamilton F. Kean
of New Jersey Is listed as head Of Kean,
Taylor & Co. Senator Kean Is Re-
publican. Other new names were those
Of Frank L. Polk, acting Secretary OF
State in the Wilson administration; j:
Henry Roraback, Republican national
committeeman for Connecticut, and the
admitted boss Of the G. o. P. In the
Nutmeg State, and Edgar Rickard,
who was reported to have been an
assistant to former President Hoover IN
some of his relief work abroad.
The private offering Of stock made
by Morgan e. Co. was at $75 unit
of one share of preferred stock and
one of common. The actual sale OF
this stock was made on January 21,
1929, when these units were selling on
the Philadelphia Stock Exchange at
$685. At that price, those who were
let in on the ground floor had an
advantage of $24 unit. George
Whitney, a partner of the Morgan Co..
however, explained that the actual
contract for sale with the companys
clients had been made several days
before the purchase by the clients was
actually consummated.
Several more lists are still to come
and it has been ruInored that at least
one other Senator would be found In
these lists.
How their connections with the house
of Morgan are to affect some Of the
men now in public Office Is still ques-
ton. Secretary of the Treasury Woodin,
known to be one of those who were
let In on the ground floor In private
offerings Of stock by the Morgan firm,
continues to hold office.
Douglas Probable Successor.
Lewis w. Douglas, director of the
budget and right-hand man Of the
Roosevelt administration, has been re-
garded as a probable successor to Mr..
Woodin If and when the present Sec
retary Of the Treasury should retire.
Although Mr.. Douglas name has not
appeared so far on lists of preferred
clients Of the Morgan firm made public
at the Senate hearing. Senator Long Of
Louisiana has called attention to the
fact that Mr.. Douglas and his family
for three generations have been prom
inently identified with the Phelps
Dodge Corporation and that T. s.