Pujo Committee,Money Trust,Investigation 1913

Eyn 2SS1SSS5 &msFli-gm. ' s "-' THE WASHINGTON TIMES, MONDAY, MARCH 31; 1913.  J. PIERPONT MORGAN DIES IN ROME AFTER WEEK'S  ACUTE ILLNESS A - r- ,f ", - "ii',V' End Comes  Peacefully at the Grand Hotel-Noted Specialitss in Attendance, But All Efforts to Prolong Life Prove Vain Stock Mar kets Affected. (Continued from brief rest In Naples and Rome, the banker hurried on to Egypt, and rested again at Shepheard's Hotel In Cairo. Constantly- attended by a physician, he was urged to rest longer, and told that his health would not permit of any strenuous exertions. But he was all Impatience to get to his excavations, and early in February started up the Kile, accompanied by the Satterlees, eighteen women friends of his daughter, and the inevitable doctor and nurse. The boat used was especially built after designs of Morgan's own sug gestion, and workmen were building her for manv weeks before the financier reached Cairo. She was luxuriously ap pointed and cost a small fortune. But Morgan was.atot destined to make bis anticipated Ielsurelv Inspection of the Kile diggings. What proved today to be his fatal illness attacked him soon after the start ud the Kile, and he was force dto turn back. Acute Indigestion seized him, and It was feared he would die before he could get back to Cairo. For a -day Morgan was unconscious, vhile consternation reigned among his bouse boat guests. Consents To Take Rest Physicians and nurses were hurriedly summoned to Cairo, and reservations were made on the first steamer, the Caronla. leaving Alexandria for Kaples. Orders were sent ahead fqr eminent Berlin, Paris, and Rome specialists to meet Morgan, and It was announced that he would hurry to New York as rapidly as possible. Prof. Bastlanelll. -who went to Cairo from, Rome, advised agajnst the hurried departure, and Mor gan remained at Shepheard's until March 9. He recovered his hralth in a measure, and it was insisted that a lst -would restore him. He consented to obey the doctors and rest. He left on the Adriatic, which sailed from Alexandria for Italy on March 10. At that time It was an nounced that Morgan would proceed to Rome, and rest there for two or three weeks, after which he would tour Eu rope and return home. He landed at Kaples on March 13. ac companied by his daughter, Mrs. Satter lee; Herbert I, Satterlee. her husband: the Count and Countess Jean La Greze. the , latter the daughter of Morgan's partner. Charles Steele; his cousins, Mrs. Lucy Lee and'Mrs. John Hurlburt; his granddaughter. Miss Hamilton, and Dr. Dixon. Wanted To Tour Europe. Because of his health. Morgan had been forced to forego his usual visits In PRAISE FINANCIER Unteniiyer, of Pujo Committee, Says Famous Capitalist Never Abused Power. NEW YORK. March SLOne ytt the most vivid memories of-J. P. Morgan retained by his friends-was his appear ance on the day following his testimony before the Pujo committee In Washing ton. Morgan had returned to New York in a special train Immediately after he left the witness stand. He arrived at his office at Broad and Wall streets at noon the next day accompanied by a friend. The clerks and assistants had been eagerly awaiting his arrival, wish ing to see the effect of his appearance at Washington. The aged banker had a flower In his buttonhole: his hat Just slightly tilted at an angle almost cocky; he swung his heavy cane vigorously; his chest out, and his long black cigar titled at a de fiant angle that could not have been improved upon by Uncle Joe Cannon. Seemed In Fine Fettle. He walked briskly, and It was appar ent to all who saw him walk back to his private office that he was In fine fettle. He was delighted with his testi mony, and felt that he had succeeded In saying Just what he wished to say. His friends and partners gathered around to congratulate him. and his arrival took the form of the return of a hero. If the strain of his appearance on the witness stand bioke Morgan's health. It did not show on tne day after his testimony. On the contrary, his friends remarked that day that they "had not seen the old man look so much like himself" in years. Untermyer's Tribute. Samuel Untermyer, special counsel for the Pujo Money trust Investigating com mittee, upon reaching his office shortly after 11 o'clock today gave out the fol lowing statement: "With the death of Mr. Morgan, the world loses one of its most conspicuous figures and our countrj sustains the Ir retrievable loss of a generous, patriotic cl linen of rare breadth and public use fulness. The art world and especially our Metropolitan Art Museum will never be able to replace him "Whatever may be one's views of the perils to our financial and economic sy tem of the concentration of the control of credit, the fact remains and Is gen erally recognized, that Mr. Morgan was actuated by high purpose and that he never knowingly abused his almost in credible power." A special meeting of the board of gov ernors of the Stock Exchange has been called for noon today to take action upon the death of Morgan and to de termine whether there shall be any clos ing of the Stock Exchange out of re spect to the dead financier Was Son Of Wealthy Banker. Born at Hartford, Conn., April IT, 1837. Morgan differed from many of the other WEATHER REPORT. rhe forecast for the DUtrict of Co lumbiaFair tonight and Tuesday; mod erate temperature. Maryland Fair tonight and Tuesday; cooler Tuesday; south to southwest winds. Virginia Fair tonight and Tuesday; moderate temperature. Fins The temperature today as registered at the United States Weather Bureau and Affleck's: U. S. BUREAU. AFFLECK'S. 8 a. m 51 S a. m SO St a. m 54 9 a. m 56 10 a. m 58 10 a. m $7 U a. m -.... 61 11 a. m & 12 noon 70 12 noon 62 1 p. m CO 1 p. m. ........... 65 2 p. m 59 2 p. m 68 TIDE- TABLE. ' High tide, 3:24 a. m. and 3:49 p. m. Low tide, 9:57 a. m. and 10:33 p. m. First Page.) Egypt to the Khedive and Lord Kitch ener, but at Naples Satterlee said that his father-in-law Intended, If possible, to arrange an audience with the Kaiser and with King George of England be fore returning home. When he reached Rome It was Inti mated by his relatives that Morgan realized that he never would see Europe again, and therefore he was most anx ious to visit Berlin. Paris, and London before going to New York. On that account he consented to rest In Rome Indefinitely, as his doctors ordered. Doctors and relathes were unable to tell whether the banker at the last realized the seriousness of his condi tion. Since last Sunday he had been much under the Influence of drugs to make him sleep, and for the most part ' since last Wednesday he was In a comatose state. Such times as he aroused himself for a moment he ap parently recognized none of the per sons about his bed, either relatives or physicians, and It was believed that he grasped little or nothing of what was going on about him. Death Came Easily. Late yesterday Morgan took a de cided turn for the worse, and the doc tors warned Mrs. Satterlee that his death was a matter only of hours. Dr. Dixon and a relay of nurses remained by the bedside all night, and the Sat terlees were awake In an adjoining room. Shortly after daybreak there was an other consultation of Prof. Bastlanelll and Drs. Dixon and Starr, when the doctors made a thorough examination oi an or Morgan s organs. The physi cians issued a bulletin, giving the pulse. respiration, and temperature, and told me satterlees that death was but a matter of hours. Twice during the morning, Mrs. Sat terlee visited the bedside of her father, but he was unconscious. At noon Dr. Dixon called Mrs. Sat terlee from the adjoining room and told her the end was near at hand. At 12:05 P. M. Morgan died, with hi daughter, son-in-law, the three doc tors and a nurse at his bedside. Ap parently, he- died easily, having- been unconscious, motionless, and breath ing very slowly for hours before the end. As soon as announcement of the death was made, the flags of the Grand Hotel were put to half-mast, and signs of mourning- soon were visible throughout Rome. financiers that have made history in that he was the son of a rich man, Junius S. Morgan. The younger Mor gan attended high school at Boston, and then had three years of a uni versity course at Gottlngen, Germany. At twenty-one he entered his father's bank, and, after learning the business from the ground up', was sent to New York as his father's agent. In 187T he allied himself with the powerful bank ing firm of JJrexel & Co., of-JE?hlladeI-phia, and In 1895 the house of Morgan & Co. was formed. , i(a It was not a corporation, but a part nership, and In It were eleven partners, all specialists In their line. It made and unmade railroad and industrial cor porations, created Banks and trust com panies, and In very few instances did failure overwhelm any Interest that bore the Morgan O. K. Had Passion For Sole. The secret of his control lay In his personality. Morgan was a man of tremendous passions. He ruled. Those who disputed that rule had to fight. And few who fought survived. His In fluence was almost uncanny. Wise men bought and sold stocks blindly on the Morgan say-so. He fought union labor whenever that Issue was raised In any concern In which he was Interested. Morgan reorganized many railroad sys tems and all paid tribute 4o him and his followers.. The Reading, tfie North ern Pacific, the Southern, the Erie, the Lehigh Valley, the Hocking Valley, the Monon, were a few of these and he was always the power behind the Vander bllt lines, the Louisville and Nashville, and the Atlantic Coast lines. Morgan promoted the United States Steel Company, but had io pay a vast tribute to get Andrew Carnegie out of his way and to get the valuable Car negie properties Into the trust. It was a billion dollar combination and Its stock was sold to the ends or the earth on a promotion manipulation scheme backed by the lae James R. Keene. Then came the collapse and the ruin of thousands of Investors. But steel products could be marketed and the company "came back." so that In 1906 dividends were resumed. This was one of the happiest days Io Mor gan's life, for steel was his pet hobby. It was Morgan who effected the rub ber consolidation and the General Elec tric merger. No Change In Firm. At noon, following a conference of members of the Morgan firm at the Wall Street office, the following an nouncement was handed out: "In answer to the many Inquiries re ceived. J. P. Morgan & Co. state that Mr. Morgan's death will occasion no change In the firm that is, his interests will remain and the bublness be conducted as heretofore." Mr. Morgan's death was the one topic of general conversation, not alone among the financial classes, but among the people generally who have reau and heard of the wonderful pow er of the man. His name las bo lonj ben associated with -i.t wealth, and all the power and Influence and in dustry that wealth can buy. that theie if prababl not a class or people in America, and especially In New York, w ho have not In some direct or re mote way felt his power and been Interested In his lon Illness. Messenger Arrives. At cxactlj ! o'clock this mornlnj? a messenger sped from the office of the French Cable Company, direct to the home of J. 1'. Morgan, jr. at 231 Madl&on avenue. He wriggled bin wav through the throng ot newspaper importers who bad been on watch out hlde all night long, and delivered his message. Fifteen minutes later an other breathless messenger delivered another message. On a moment after the second message had been received, Mr. Mor gan came hurriedly out of his home. "Don t bother me now.'' he cried to the new-fpaper men who were still waiting confirmation of their belief that the cablegrams had announced the diath cf the great flancler. "A statement will be Issued from my office In less than half an hour." said Mr. Morgan. "I have nothing to say now. He ran to the home of his mother, four doors away. That was enough to convince the reporters the worst had come. He remained at the home of Mrs. J. P. Morgan, jr.. hut ten minutes. When he came out. he bore all the marks of strain and sorrow of a bereaved and heartbroken son. Dead Financier, Daughter and Son, Heir to Morgan House m'mLLyA, rm X,iLW$k fife mm ?&& a J. P. Morgan, His Son, J. AFFAIRS IN ORDER Capital Bankers and Brokers Say Financier Surely Had Prepared for Death. Washington bankers and brokers are of the single opinion that Mr. Morgan, realizing that his death would have an untoward effect upon the stock and financial markets un less carefully prepared for, had put his affairs in order and arranged, through his partners, to meet any emergency that might arise when the event came. High In their praise of the head of American finance, these Washington men declare today that even In death his foresight and financial general ship Is shown. Brokers look for a higher market In stocks, and point to the strength and steadiness of the New York stock market this morning as evidence. W. A. Mearns, of Lewis Johnson & Co., said: "There Is every evidence that Mr. Morgan left his affairs In ex cellent shape, even before he went to Europe, and that his partners knew Just what to do when the news of his death should arrive. The first news of Mr. Morgan's Illness several weeks ago hurt the market worse than the actual news of his death today " J. selwin Talt. president of the Washington and Southern Bank, said: "Mr. Morgan was a great and public spirited man .and In recognition of the rights of the public, he must have pre pared Tor the event of his death. He was the first financier I met when I came to this country, thirty-one years ago." Bowie Chipman. manager of Harrl man Co.. said: "While Mr. Morgan was a very big man. the men surround ing him are also too big to let anj thing serious happen as the result of Mr. Morgan's death, and the country Is too big to bo seriously affected by any man's death." Arthur G. Plant, of A. G Plant & Co.. Rnlll "Thnt Ihprn haq honn nn nrnnnili. latlon of stocks bv the hie Interests In ' anticipation of the event Is evident, and I believe the market will work higher. espc'lall the first clas rails. Mr. Mor gan's di-ath has been entirely ills countcd". Eugene K. Thompson, of Crane, Par rls & Co., said: "Mr. Morgan knew that his death was imminent, and prepared for it." James F Curtis, Assistant Secretary of the Treasury "It will be interesting to note who will become his succeor In a commanding position In American financial affairs." f. C Dawson. Washington mprehen tative Spt-nrei Trask & Co, New York: "The death of .Ml Morgiin will tak a great power from Wall Stieet. How ever, bis death has !--! anticipated ami will, therefore, have no detrimental ef fect While thf market fell off todnt. It was gradual -ind mioii recovered This ran be taken aj, a i-neial Indication that no financial ili.sttirl,:inccs will fol low Mi. Morgan s death. ' Mr. Plant, of A. G. Plant A: Co , brokers "Mr. Morgan's death was discounted and the organization of his Him Is so expert that no drastic- ffcet on the mnr kej need be fiared Slawl-iid rallroi 1 stocks, in my opinion, should lie piu chaed foi higher prit-es. I am optimis tic us to the biiHlnexs outlook " C J. Iloll. presi(l-nt of the Ameri can Sectiritv and Trust Company 'The death of Mr Morgan takes away one of the greatest financiers In the history of this eountrv or th world Despite the position Mr. Moi gan held, however, and the vast In terests with which he was connect ed. I do not beIJee that hlw death will affect business. HR firm was so organized that the dropping out of one man, even t)ie head of that great Institution, w-opld not prevent the activities of the firm from being carried on, even for the present, or In the future.1' W. B. Hlbbs. head of the firm of W. B. Hlbbs &. Co., bankers and stock brokers: "Mr. Morgan was a general. The i nation and the world will now see Til MORGAN HAD P. Morgan, Jr., and His Daughter, Mrs. Herbert ,L. Satterlee. that this Is true. No general on the field of battle ever attended to the matter of detail as did Mr. Morgan. He so conducted his operations that nn mnttpr wlithni" In llf nr in death. the vast Interests he controlled would be undisturbed. Mr. Morgan In life prepared for death. By doing this he performed a tremendous benefit to his country, as no pante or disturbance or any kind will fallow his passing away. "His death is a financial loss as well as social. He was a wonderful man: the only one of his kind In the world. Despite vicious attacks, he re mained unswervlnjr and forceful. He did more for charity than manv give him credjt for. He did wonders in this direction, but without advertis ing." ILL HEALTH CAUSES DAVIS TO RESIGN Superintendent of Station B Leaves Postoffice Depart ment .After Long Service. Superintendent Madison Davis, of Station B, of the city postoffice, for mer assistant postmaster of Wash ington and chief clerk to the Third Assistant Postmaster General, has re signed. Mr. Davis will leave the service to day, owing to ill health and advancing age. He will be succeeded as superintendent of station B by Edgar Church, assistant superintendent. Several promotions will result from the change. George C. Bon durant. a foreman, will become assist ant superintendent, and Joseph S. Was ney will bo made foreman Mr Davis, after many years' srlce in the Postoffice Department, became chief clerk to the Third Assistant Post master General when John A. Merrltt was appointed to that office. When Mr. Merrltt became postmaster of Washing ton he took Mr Davis with him as As p'stint Postmaster. Later he was as Signed to station B. He was al"o at one time chief clerk of the Government Printing Office. Bottles Case To Court of Appeals Whether the District of Columbia has a right to prosecute milk dealers for using bottles not belonging to them to serve milk and cream to customers Is a question that the District Court of Appeals will be called upon to decide. All prosecutions to this date have been brought by the District and through Attorney Matthew E. O'Htlen, who lias hern tetalned as counsel for the Inde pendent dealers of the cit. have been stayed on the contention of the lawjer that the dealers should bo prosecuted bv the Tnltcd States and not the Dis trict of Columbia Attoinc O'Brien announced in Police Court todu that he will take the cases in which he has been retained to the Court of Appeals He would make a test case, he said, of the case of the District vs W A. Slmnson. a milk dealer of Southeast Washington. Entertainments Planned For Blind This Week Entertainments, for the blind In the leading toom of tin Library of Con gress during this week are nuiiounced as follows: Tue.sdav. April 1. 2:30 p. in., a reading by Mr. Freeman Thorpe, the subject to be "Homerrortin?:" Frldn. Apill 4. at S p m., a musical In which Miss Ella Nelson, as pianist. I.eRov A. Gild'4-. as tenor, and W. Alfre-d Faulk ner, as the reader, will tnk pan. At these entertainments seats will be re served for the blind and their escorts. 1 he remaining spue is freely open to the public up to the capacity of the room. SEES SELFISHNESS IN T Congressman Neeley Declares Charge That Inquiry Hurried Death Was Inspired. "I don't believe there is any truth whatever In the report that Mr. Mor gan's health was In anv way affected by his appearance before the Money trust committee," said Congressman Neeley of Kansas, the only member of the committee now- In Washington. "The committee was engaged in a most Important public duty,' and som of the disclosures of the financial methods pursued by Mr. Morgan and his friends were decidedly startling to the country. This doubtless resulted In much public criticism, and the end Is not yet. "Our committee showed Mr. Morgan every possible courtesy, and for a man of his age he appeared to be In splen did condition, both physically and men tally. His ability to parry questions that he would rather not answer, his ready nit, and frequent sallies with counsel. Impressed the committee with his very unusual ability, and was a de cided change from the examinations of other witnesses. "I remember when counsel had mis placed some data that he desired to use In Interrogating the banker, and sug gested a recess for a few moments, stating that Mr. Morgan might desire a few minutes relaxation. Mr. Morgan smilingly answereel that he was 'feeling very fine' and preferred to continue the examination. At the conclusion of the examination, Morgan came up to the rostrum on which the committee was seated, shook hands with each mem ber, and rather profusely thanked us for the courtesy we had shown him. At the same time he assured us It had been a pleasure to offer Jils testimony. "The Morgan Interests have published and sent broadcast throughout the Pnlted States, and particularly In the districts of members of the committee, a letter containing many statements substantiated by no witness who ap peared before the committee. The In sinuation that the committee's cour teous examination of Mr. Morgan con tributed In any manner whatever to his demise appears to be a studied at tempt to make capital of his death, and to arcuse sympathy for a system that in manv respects Is at a derided variance with the Interests of our people. Boy Struck by Ball In Serious Condition Suffering from cerebral convulsions as the result of being hit in the head with a pitched ball. Carl ltothenburg, eight years old, 16i Montello avenue northeast, is in a serious condition to da in Casualty Hospital. The bo was plalng with some com panions jesterday afternoon when he was -,11 lick !, the ball. He was stunned for a moment, but In a little while was apparently an ngnt. In the evening young ltothenburg attended a motion picture show. On the way home the lad collapsed. A policeman called an nmbnlnnce and he was taken to the hospital. Two Burglars Scared Away From Open Trunk Two burglars were discovered last evening ransacking a tiunk In a rear room on the first floor of the home of Mrs. James Gnllngher, 1220 Wisconsin aenue northwest. Thev fled through an open window when u member of the family started to enter the room. Noth ing was stolen. TO CL'HB A COI.D IX ONE DAT Tk LAXATIVE BROMO Qulnln. TablaU. DrunliU refund money If it rIU to cur. C. W. GROVE'S slcn&ture U on Mch box. So. MOD OR STATESMEN REGRET FINANCIERS DEMISE Morgan's Death Not Unexpected Here, by Men Who Saw Him Before Pujo Board. Profound Interest was manifested In Washington today at the news of the death of- J.-Pierpont Morgan. At the same time, the Information wu receved; without the shock that would have resulted had it not been well known here that, the strength of the aged financier had been falling- In re cent months. -Moreover, the cable news of recent days had left little question that Mr. Morgan's condition was such that he would no longer be able to play the part of a master hand in the. affairs of the "Street.'' Many expressions of regret over the death of Mr. Morgan were heard. He was almost as well known In Washington as in' New York. ,He was a frequent visitor here, had various Washington interests, and on a num ber of occasions appeared at the Cap itol as a witness in Congressional in vestigations. Tedtfied at Pajo Inquiry. His last appearance in Washington was this winter, when he was called before the Pujo committee which was investigating the Money trust. At that time it developed clearly that Mr. Mor gan was no longer In his once robust health. He' tired much more easily than of old. and it was also clear that his mind, while strong, did not work with the lightning-like rapidity and the pre cision, which, characterized it In his prime. Friends of Mr. Morgan then commented freely to the effect .he was aging. Nevertheless, he made a good witness and succeeded in' getting a lot or matter into therecord that, from his angle of the Money trust question, made good reading It was also noticeable then that Mr. Morgan had lost something of the bfusqueness which he manifested in his younger days apd was becoming more mellowed and good-natured. No more good-natured witness was before the Pujo committee ; this ;wlnter. in spite of a prolonged grilling, than-Mr. Morgan. Death Sileacts CriUdna. The death of Mr. Morgan, as viewed in Congress circles, will not materially alter the situation with respect to the attempts at Money trust legislation which are to be a feature of this Conmsa. Had Mr. Morgan, lived, there Is no ques tion he would have been singled out by scores of speakers in House and Senate as the bogey man with 'respect to tho centralisation or moneys and credits in this country. His death will silence much of tho criticism that would have been .heard from those men In oCngress who be lieve that he. more, than anv other ner- ' son, was responsible for the upbuilding oi me so-cauea juoney trust. Before Pujo CommitteeV When Mr. Morgan appeared before the Pujo committee he was accom panied by a retinue of partners, law yers, and relatives. All ot them seemed solicitous of the master financier's health during the examination, although Mr. Morgan himself Insisted that he wasn't tired, and wanted to get the ex amination over with when the usual recess hours approached. Mrs. Herbert I. Satterlee sat near her father during his two days on the wit ness stand before the Pujo committee. and she frequently seemed on the verge of remonstrating that Mr. Morgan might overtax his strength. After he hearings were over, however, Mr. Mor gan waved aside all such suggestions, and called foe another big black cigar. It was apparent, nevertheless, that the Morgan who appeared before The uju vuuiiuiiicc nao .jl vug diuiAai u& old. When he appeared before the Sen ate campaign Investigating commlttt;. In September last, he was a much stronger man than when he returned examination by the Money trust probors. to Washington In the late winter for an Within a few months old age and a general breakdown had made noticeable inroads upon a once robust constitu tion, and spectators who had seen Mr. Morgan before both committees mar veled at the change. There were whis pered predictions then that the master financier would not last another year. MORGlKlER TOLD IN BRIEF Great as have been the achievements of J. Plerpont Morgan, his life shows an almost unequaled number of activi ties, ranging from money making to money giving, from art to railroads, from society to Interest In the elimina tion of bad conditions among the poor and needy. Born on April 17, 1S37, graduated from the Kngllsh High School at Boston In 1S54 at the age of seventeen, and Trom Gottlngen University, Germany. Morgan went Into business with Duncan Sher man & Co., New York, at an early age. His life was marked with Intense ac tivity. Scarcely a phase of living but felt the touch of his master hand. His business experience was connected with many events reckoned among the most Important in the business world. The first entrance of J. P. Morgan Into business life for himself came when he started the firm of Dabney. Morgan & Co. His first big railroad deal was consummated In Februarv. 1870. when he arranged the lease of the Albany and Susquehanna railroad to the Delaware and Hudson. Morgan first began his dealings with the Vanderbllts when he entered the firm of Drexel. Morgan & Co. , . , Some of Big Deals. Since that time the big deals with which he was connected Include the so called "gentlemen's agreements" be tween railroad presidents. 18M-US9; the famous AVest Shore deal. In 1SS5: the "Morgan Hospital for Crippled Rail roads." lSSG-1900-thIs included the re organization of the Chesapeake and Ohio, the Southern, the Krle and others the reorganization of the Northern Pacific railroad: the relief of the United States Treasury in 1S93; the negotia tion of the Mexican loan, the first large foreign loan ever placed In the United States, 18S9: the handling of 125.000.000 of the British war loan, In 1900; the forming of the United States Steel Cor poration, February. 1901, with a capi talization of Jl.154.000,000: the formation of the Northern Securities Company. In November. 1901: the organization of th International Mercantile Marino Swift & Company's sales of fresh beef In Washington. P. C.. for the week end ing Saturday. March 3, averaged 12.15 cents per pound. Advt. Wealth Owned ano, Controlled b$ J. P. Morgan HoIdiHfs credited to the late J. P. MergM: Cfeapaales. Stocks. Brads. Jiew Tort Ceatral $85t,W 9241,414,999 mj S Jc jS S By Co .- s9G9G0 lg4WV99 MleklgH Central 18,"W,9W H,m,m S.;Y. k Harlem BJrer Kt. Co 1MM lSrMM JT. T. A Xortaeni By. Co.--...... -SV99j9w 51299,999, Rhode Island Ceaiaaay 581,99 11,199)99 BRtlaad Railway Cospaay '...' 1V999?999 West Shore Railway Coatpaay..1 19,999999 9,99999 AvT. S. Fe By. Co '.-..:.. 19t,99 SI549MM JT. T, Sasqaehaaaa k Western 99t,9 1MMM Hadfloa"& Manhattan By. Co......:...-.. ,999,999 7,f9t,9N Iatefho'roafh-JIetropolItaa ...- ! KSGtr ?S9M99 Totals- .7. .".. M8M8M99 TiljiiMM Graad total, IMIMtS. ' The holdings of Mr. Mergaa and his interests are estimated as fellows i Companies. Stocks. Bends. A. T. k Ti Co HiMiMt l31MM9t rXorgan-Gnggenhelni Alaska' syndicate, (es timated .. -" 25JJ9t,ti Knhn-Leeb Chinese syndicate....'.-..; liftlm General Electric... -SM99,999 lMaMa . Mexican Telegraph 5,999,991 Adams Express Company 12,9i,090 M'M'O Hendaras loan.. ."" HfJMi Panama laTestments MM99 Totals ........ 3i,999,999 SinaSjfVn Grand total, $7Ujmjm. . 'This is. as far as tehnlatien is possible, hat it is estimated that Mor gan's one-man. power wasas fellow: Morgan'' own companies . .feVilf ,487? ' Manma' 'afalialed companies ............ ZflamJ9mfltm Morgan's banking Interests... Morgan's, partners' holdings . Total - Company, in 1902. and a long Ust of other activities of recent years. In Wall Street it has been said that J. Plerpont Morgan either held the tiller or had a voice in piloting a fleet of corporations comblnlngan K8Tegata capital of more than t2.300.000.080. Never .. !., mA nn mttn Wielded so much power nor had the guiding voice 'concerning 'such a vast quantity of wealtn. his name numn -.SS""!; synonymous with that of wau .. . . .- i. o. Kiinrri hv many that the operations of that famous street were nearly always concerned witn the man who um i.uuh ., called "the Wizard of Finance.' Lover. of Art. Nothing Is so indicative of the many aldedness'of J. P. Morgan as hi pre vailing recognition ofthe best worlC that was done In the. studios, of the art world.. He-appeared to be .as much at home" before a mural for pictorial masterpiece as. In his banking house directing the affairs of the tremendous commercial enterprises with which he was identified. The presentation to the mlneraloglcal department of the Jardln des Plantea, during one of his visits to Paris, ot the famous Pan-American collection of ..m.i o,f nraMnu .tnn.f. WAN One Of the characteristic acts of the man, and was nallea wiin aengni oy una iw felt the embarrassment caused by the fact that this famous depository had practically no collection of American The Morgan libraries In London and New York are studded with gems of the bookmaklng art. An enumeration of the masterpieces of art owned by J. Plerpont Morgan would be to cata logue many Invaluable canvases which bear the signatures of emperors and kings In the royal domains of art. .Belonged To Clubs . Mr. Morgan, In spite of his tre mendous business activity, always has found time to devote to social life, and he was a member of many clubs. His most active club membership was with the Metropolitan Club, of New York, and In the great New York Yacht Club. For a number of years he was a mem ber of the Rue Royal Club, In Paris. As a host In his own home, Mr. Mor wan always was considered charming, one possessing vast abilities to please, who could talk with the bishop or the doctor of divinity, discuss the latest discoveries of the archaeologists in Egypt, the canvases of Titian, or the latest master discovered. Mr. Morgan was a retiring man, but he always enjoyed good company, and he did his duty by society, and played a quiet, dignified, hospitable part. Mr. Morgan spent a great deal of time ........ Kl. ..,. Vi matter how en- grossed In business he became, he al ways was ame io nnu ume io jua auum time on his private yacht, cruising In the Mediterranean among the isles of Greece and through American waters. He was at one time commodore of the New York Yacht Club and was always ready to assist In the defense of the famous America's Cup. It was the so- ..ii. rA,v.n avnHtmt. tl-htrh hullt ttlA CilllCU J1V.. " - -- --- - --- -"- Defender, the Columbia and later the Constitution. Toward labor Mr. Morgan was silent. Hunyadi Janos Pills The New And RIGHT REMEDY For CONSTIPATION will gently and surely Te ller the most obstinate cases. They are intended to regm lat the bowels and prereai Biliousness, Xeadaohes, Stomach Disorders, etc TUT 390 XT, TOO. Take 1 or a pills to-algnt and confine yoarstlf. Ask Anv Druqyisl tor iOrEtyfafrom thtttandy iASAXLEHNEff UutfbcHr V,qI NEW YORK Lwamnssnnnnffmnnssssnmssssl WSS Price 251 tUUvfl m'1 n w ..-.. ....inBai!BB,9n f but his actions have always Indicated sympathy with the movements for the betterment of conditions among the laboring men. His great interest In railroad and other Industries where thousands of men were employed al ways Indicated that he was surely not opposed to the forward movement of worklngmen. Much 'of the philanthropy of J. Pier pent Morgan was unheard of. Almost every library or art collection in the country ca"n boast of some treasure he donated. But this is- bnt one of the many lines along which his philan thropy showed itself. Perhaps one of- the most enduring monuments he raised to himself, and one that is of tremendous public benefit is the "splendid hospital' at the corner of Eighteenth street and Second avenue In New York. He bu lit. and , equipped .this Institution out of his own pocket-and it Is considered one of the most perfect of the kind in the world.. , A. characteristic donation of. the Mor gan benefaction was the system of elec tric lights in St. Paul's Cathedral. Lon don. A few days after the installation, it was decided by the cathedral officer to put In additional lights to cost from 115,000 to -CO.00O. Mr. Morgan Immedi ately offered to supply Ihe second In stallment. POSLAM THE EFFICIENT SKIN REMEDY Poslam is proclaimed the one effici ent skin remedy by its thousands of users. Its healing powers manifest all Itching is stopped and ailing skin a ouuuitu. cooiea ana comtorted. Eczema, acne, psoriasis, barbers' and every form of Itch are 'tulckly cured. Cases Of thpxp trnnMu. r.f .... standing have been completely eradi cated by Poslam after other -remedies were aoaiiuonea as ineiicctuai. POST. AM SflAP I. nf i..ii.i.i. benefit to all whose skin is subject to eruptlonal troubles. It is Ideal for baby's bath, never Irritate, and every mother may rely upon Its absolute nitrite Tf an m.I(.a l.4 .....ft..... r' -- - wi.w am m tribunal ng scalp difficulties. aii uruggtsis sen roslam (price, 30 cents) and Poslam Soap (price. 55 cents). For free samples, writ- to the Emergency Laboratories 32 West 25th Street. New York City. Advt. EDUCATIONAL THE DRILLERY llOO New York Ave. Teacbe- By Madera Metkods. Pitnma t Gregg Shorthand, Typenrrltlag. Business and Civil Service Courses. Telesrrapky. W prepare for the spring Civil Service examinations in April. ;gi PACKING. STORAGE MOVl.L. Tour household roadx I.t n. hmlih ... . tlmate. Kates by losd or contract. Paddid sn anil reliable movers. P&cklns. Sblsplaa. Storms. -.--.. Merchants Transfer & Storago Co.. 920-922 E St N. W. PADDED VANS ,vao'1c"rtu,,,lc Makes Moving Eur. Get our estimate. Tacking- ana S&tpplns a specialty. KRIEG'S EXPEESS, 1 H STREET. PHONB 1 1 STORAGE H. BAUM & SOX. JU PA. AVE: SI load per month. Phone M. US4. 100 SEPARATE itorage room: see us before atorlns. THOS. DOWLINQ & CO.. Auo- tloneera. fli E at. N. W. Phone Main 511 GET OUR ESTIMATES on absolutlrflr proof storage, mot Ins. packing. UNITES STATES STORAGE CO.. US-IU 10th at. N. W. Phone M. 4- t- PADDED ans. H & f S Id.: :-h. wason. W 1L Phone Main 1915-1 SIS. COLUMBIA TRANSFER & STORAGE CO.. SC5 N. Y. Ae. N. W. Packing and Shipping. Storage, t! van load. MOVING EXPENSES REDUCED. We will do your molrg. picking, ani ablpplng. and take In payment old furniture. etoves. etc. WASHINGTON'S FURNITURE CO.. 1310-13U 7th it. N. W. Phone North STJ. 4i- .&... r?4S tsa-afcfer-'U 

Page

http://chroniclingamerica.loc.gov/lccn/sn84026749/1913-03-31/ed-1/seq-2/;words=Pujo+committee+Committee?date1=1860&rows=20&searchType=basic&state=&date2=1922&proxtext=pujo+committee&y=11&x=14&dateFilterType=yearRange&index=12

Page
THE WASHINGTON TIMES, MONDAY, MARCH 31; 1913.
J. PIERPONT MORGAN DIES IN ROME AFTER WEEK’S ACUTE ILLNESS
A – r- ,f “, – “ii’,V’
End Comes Peacefully at the Grand Hotel-Noted
Specialitss in Attendance, But All Efforts
to Prolong Life Prove Vain Stock Mar
kets Affected.
(Continued from
brief rest In Naples and Rome, the
banker hurried on to Egypt, and rested
again at Shepheard’s Hotel In Cairo.
Constantly- attended by a physician, he
was urged to rest longer, and told that
his health would not permit of any
strenuous exertions. But he was all
Impatience to get to his excavations,
and early in February started up the
Kile, accompanied by the Satterlees,
eighteen women friends of his daughter,
and the inevitable doctor and nurse.
The boat used was especially built
after designs of Morgan’s own sug
gestion, and workmen were building her
for manv weeks before the financier
reached Cairo. She was luxuriously ap
pointed and cost a small fortune. But
Morgan was.atot destined to make bis
anticipated Ielsurelv Inspection of the
Kile diggings. What proved today to
be his fatal illness attacked him soon
after the start ud the Kile, and he was
force dto turn back. Acute Indigestion
seized him, and It was feared he would
die before he could get back to Cairo.
For a -day Morgan was unconscious,
vhile consternation reigned among his
bouse boat guests.
Consents To Take Rest
Physicians and nurses were hurriedly
summoned to Cairo, and reservations
were made on the first steamer, the
Caronla. leaving Alexandria for Kaples.
Orders were sent ahead fqr eminent
Berlin, Paris, and Rome specialists to
meet Morgan, and It was announced
that he would hurry to New York as
rapidly as possible. Prof. Bastlanelll.
-who went to Cairo from, Rome, advised
agajnst the hurried departure, and Mor
gan remained at Shepheard’s until
March 9. He recovered his hralth in
a measure, and it was insisted that a
lst -would restore him.
He consented to obey the doctors and
rest. He left on the Adriatic, which
sailed from Alexandria for Italy on
March 10. At that time It was an
nounced that Morgan would proceed to
Rome, and rest there for two or three
weeks, after which he would tour Eu
rope and return home.
He landed at Kaples on March 13. ac
companied by his daughter, Mrs. Satter
lee; Herbert I, Satterlee. her husband:
the Count and Countess Jean La Greze.
the , latter the daughter of Morgan’s
partner. Charles Steele; his cousins,
Mrs. Lucy Lee and’Mrs. John Hurlburt;
his granddaughter. Miss Hamilton, and
Dr. Dixon.
Wanted To Tour Europe.
Because of his health. Morgan had
been forced to forego his usual visits In
PRAISE FINANCIER
Unteniiyer, of Pujo Committee,
Says Famous Capitalist
Never Abused Power.
NEW YORK. March SLOne ytt the
most vivid memories of-J. P. Morgan
retained by his friends-was his appear
ance on the day following his testimony
before the Pujo committee In Washing
ton. Morgan had returned to New York
in a special train Immediately after he
left the witness stand. He arrived at
his office at Broad and Wall streets at
noon the next day accompanied by a
friend. The clerks and assistants had
been eagerly awaiting his arrival, wish
ing to see the effect of his appearance
at Washington.
The aged banker had a flower In his
buttonhole: his hat Just slightly tilted
at an angle almost cocky; he swung his
heavy cane vigorously; his chest out,
and his long black cigar titled at a de
fiant angle that could not have been
improved upon by Uncle Joe Cannon.
Seemed In Fine Fettle.
He walked briskly, and It was appar
ent to all who saw him walk back to
his private office that he was In fine
fettle. He was delighted with his testi
mony, and felt that he had succeeded In
saying Just what he wished to say. His
friends and partners gathered around
to congratulate him. and his arrival
took the form of the return of a hero.
If the strain of his appearance on the
witness stand bioke Morgan’s health.
It did not show on tne day after his
testimony. On the contrary, his friends
remarked that day that they “had not
seen the old man look so much like
himself” in years.
Untermyer’s Tribute.
Samuel Untermyer, special counsel for
the Pujo Money trust Investigating com
mittee, upon reaching his office shortly
after 11 o’clock today gave out the fol
lowing statement:
“With the death of Mr. Morgan, the
world loses one of its most conspicuous
figures and our countrj sustains the Ir
retrievable loss of a generous, patriotic
cl linen of rare breadth and public use
fulness. The art world and especially
our Metropolitan Art Museum will never
be able to replace him
“Whatever may be one’s views of the
perils to our financial and economic sy
tem of the concentration of the control
of credit, the fact remains and Is gen
erally recognized, that Mr. Morgan was
actuated by high purpose and that he
never knowingly abused his almost in
credible power.”
A special meeting of the board of gov
ernors of the Stock Exchange has been
called for noon today to take action
upon the death of Morgan and to de
termine whether there shall be any clos
ing of the Stock Exchange out of re
spect to the dead financier
Was Son Of Wealthy Banker.
Born at Hartford, Conn., April IT, 1837.
Morgan differed from many of the other
WEATHER REPORT.
rhe forecast for the DUtrict of Co
lumbiaFair tonight and Tuesday; mod
erate temperature.
Maryland Fair tonight and Tuesday;
cooler Tuesday; south to southwest
winds.
Virginia Fair tonight and Tuesday;
moderate temperature.
Fins
The temperature today as registered
at the United States Weather Bureau
and Affleck’s:
U. S. BUREAU. AFFLECK’S.
8 a. m 51 S a. m SO
St a. m 54 9 a. m 56
10 a. m 58 10 a. m $7
U a. m -…. 61 11 a. m &
12 noon 70 12 noon 62
1 p. m CO 1 p. m. ……….. 65
2 p. m 59 2 p. m 68
TIDE- TABLE.
‘ High tide, 3:24 a. m. and 3:49 p. m.
Low tide, 9:57 a. m. and 10:33 p. m.
First Page.)
Egypt to the Khedive and Lord Kitch
ener, but at Naples Satterlee said that
his father-in-law Intended, If possible,
to arrange an audience with the Kaiser
and with King George of England be
fore returning home.
When he reached Rome It was Inti
mated by his relatives that Morgan
realized that he never would see Europe
again, and therefore he was most anx
ious to visit Berlin. Paris, and London
before going to New York. On that
account he consented to rest In Rome
Indefinitely, as his doctors ordered.
Doctors and relathes were unable to
tell whether the banker at the last
realized the seriousness of his condi
tion. Since last Sunday he had been
much under the Influence of drugs to
make him sleep, and for the most part
‘ since last Wednesday he was In a
comatose state. Such times as he
aroused himself for a moment he ap
parently recognized none of the per
sons about his bed, either relatives or
physicians, and It was believed that he
grasped little or nothing of what was
going on about him.
Death Came Easily.
Late yesterday Morgan took a de
cided turn for the worse, and the doc
tors warned Mrs. Satterlee that his
death was a matter only of hours. Dr.
Dixon and a relay of nurses remained
by the bedside all night, and the Sat
terlees were awake In an adjoining
room.
Shortly after daybreak there was an
other consultation of Prof. Bastlanelll
and Drs. Dixon and Starr, when the
doctors made a thorough examination
oi an or Morgan s organs. The physi
cians issued a bulletin, giving the pulse.
respiration, and temperature, and told
me satterlees that death was but a
matter of hours.
Twice during the morning, Mrs. Sat
terlee visited the bedside of her father,
but he was unconscious.
At noon Dr. Dixon called Mrs. Sat
terlee from the adjoining room and
told her the end was near at hand.
At 12:05 P. M. Morgan died, with hi
daughter, son-in-law, the three doc
tors and a nurse at his bedside. Ap
parently, he- died easily, having- been
unconscious, motionless, and breath
ing very slowly for hours before the
end.
As soon as announcement of the
death was made, the flags of the
Grand Hotel were put to half-mast,
and signs of mourning- soon were
visible throughout Rome.
financiers that have made history in
that he was the son of a rich man,
Junius S. Morgan. The younger Mor
gan attended high school at Boston,
and then had three years of a uni
versity course at Gottlngen, Germany.
At twenty-one he entered his father’s
bank, and, after learning the business
from the ground up’, was sent to New
York as his father’s agent. In 187T he
allied himself with the powerful bank
ing firm of JJrexel & Co., of-JE?hlladeI-phia,
and In 1895 the house of Morgan &
Co. was formed. , i(a
It was not a corporation, but a part
nership, and In It were eleven partners,
all specialists In their line. It made
and unmade railroad and industrial cor
porations, created Banks and trust com
panies, and In very few instances did
failure overwhelm any Interest that
bore the Morgan O. K.
Had Passion For Sole.
The secret of his control lay In his
personality. Morgan was a man of
tremendous passions. He ruled. Those
who disputed that rule had to fight.
And few who fought survived. His In
fluence was almost uncanny. Wise men
bought and sold stocks blindly on the
Morgan say-so. He fought union labor
whenever that Issue was raised In any
concern In which he was Interested.
Morgan reorganized many railroad sys
tems and all paid tribute 4o him and
his followers.. The Reading, tfie North
ern Pacific, the Southern, the Erie, the
Lehigh Valley, the Hocking Valley, the
Monon, were a few of these and he was
always the power behind the Vander
bllt lines, the Louisville and Nashville,
and the Atlantic Coast lines.
Morgan promoted the United States
Steel Company, but had io pay a vast
tribute to get Andrew Carnegie out of
his way and to get the valuable Car
negie properties Into the trust. It was
a billion dollar combination and Its
stock was sold to the ends or the earth
on a promotion manipulation scheme
backed by the lae James R. Keene.
Then came the collapse and the ruin of
thousands of Investors.
But steel products could be marketed
and the company “came back.” so that
In 1906 dividends were resumed. This
was one of the happiest days Io Mor
gan’s life, for steel was his pet hobby.
It was Morgan who effected the rub
ber consolidation and the General Elec
tric merger.
No Change In Firm.
At noon, following a conference of
members of the Morgan firm at the
Wall Street office, the following an
nouncement was handed out:
“In answer to the many Inquiries re
ceived. J. P. Morgan & Co. state
that Mr. Morgan’s death will occasion
no change In the firm that is, his
interests will remain and the bublness
be conducted as heretofore.”
Mr. Morgan’s death was the one
topic of general conversation, not
alone among the financial classes, but
among the people generally who have
reau and heard of the wonderful pow
er of the man. His name las bo lonj
ben associated with -i.t wealth, and
all the power and Influence and in
dustry that wealth can buy. that theie
if prababl not a class or people in
America, and especially In New York,
w ho have not In some direct or re
mote way felt his power and been
Interested In his lon Illness.
Messenger Arrives.
At cxactlj ! o’clock this mornlnj?
a messenger sped from the office of
the French Cable Company, direct to
the home of J. 1′. Morgan, jr. at 231
Madl&on avenue. He wriggled bin
wav through the throng ot newspaper
importers who bad been on watch out
hlde all night long, and delivered his
message. Fifteen minutes later an
other breathless messenger delivered
another message.
On a moment after the second
message had been received, Mr. Mor
gan came hurriedly out of his home.
“Don t bother me now.” he cried to
the new-fpaper men who were still
waiting confirmation of their belief
that the cablegrams had announced
the diath cf the great flancler.
“A statement will be Issued from
my office In less than half an hour.”
said Mr. Morgan. “I have nothing to
say now.
He ran to the home of his mother,
four doors away. That was enough
to convince the reporters the worst
had come. He remained at the home
of Mrs. J. P. Morgan, jr.. hut ten
minutes. When he came out. he bore
all the marks of strain and sorrow
of a bereaved and heartbroken son.
Dead Financier, Daughter and Son, Heir to Morgan House
m’mLLyA, rm X,iLW$k fife mm ?&&
a J. P. Morgan, His Son, J.
AFFAIRS IN ORDER
Capital Bankers and Brokers
Say Financier Surely Had
Prepared for Death.
Washington bankers and brokers
are of the single opinion that Mr.
Morgan, realizing that his death
would have an untoward effect upon
the stock and financial markets un
less carefully prepared for, had put
his affairs in order and arranged,
through his partners, to meet any
emergency that might arise when the
event came.
High In their praise of the head of
American finance, these Washington
men declare today that even In death
his foresight and financial general
ship Is shown.
Brokers look for a higher market
In stocks, and point to the strength
and steadiness of the New York stock
market this morning as evidence.
W. A. Mearns, of Lewis Johnson &
Co., said: “There Is every evidence
that Mr. Morgan left his affairs In ex
cellent shape, even before he went to
Europe, and that his partners knew
Just what to do when the news of his
death should arrive. The first news
of Mr. Morgan’s Illness several weeks
ago hurt the market worse than the
actual news of his death today “
J. selwin Talt. president of the
Washington and Southern Bank, said:
“Mr. Morgan was a great and public
spirited man .and In recognition of the
rights of the public, he must have pre
pared Tor the event of his death. He
was the first financier I met when I
came to this country, thirty-one years
ago.”
Bowie Chipman. manager of Harrl
man Co.. said: “While Mr. Morgan
was a very big man. the men surround
ing him are also too big to let anj thing
serious happen as the result of Mr.
Morgan’s death, and the country Is too
big to bo seriously affected by any
man’s death.”
Arthur G. Plant, of A. G Plant & Co..
Rnlll “Thnt Ihprn haq honn nn nrnnnili.
latlon of stocks bv the hie Interests In ‘
anticipation of the event Is evident, and
I believe the market will work higher.
espc’lall the first clas rails. Mr. Mor
gan’s di-ath has been entirely ills
countcd”. Eugene K. Thompson, of Crane, Par
rls & Co., said: “Mr. Morgan knew that
his death was imminent, and prepared
for it.”
James F Curtis, Assistant Secretary of
the Treasury
“It will be interesting to note who will
become his succeor In a commanding
position In American financial affairs.”
f. C Dawson. Washington mprehen
tative Spt-nrei Trask & Co, New York:
“The death of .Ml Morgiin will tak a
great power from Wall Stieet. How
ever, bis death has !–! anticipated ami
will, therefore, have no detrimental ef
fect While thf market fell off todnt.
It was gradual -ind mioii recovered This
ran be taken aj, a i-neial Indication
that no financial ili.sttirl,:inccs will fol
low Mi. Morgan s death. ‘
Mr. Plant, of A. G. Plant A: Co ,
brokers
“Mr. Morgan’s death was discounted
and the organization of his Him Is so
expert that no drastic- ffcet on the mnr
kej need be fiared Slawl-iid rallroi 1
stocks, in my opinion, should lie piu
chaed foi higher prit-es. I am optimis
tic us to the biiHlnexs outlook “
C J. Iloll. presi(l-nt of the Ameri
can Sectiritv and Trust Company
‘The death of Mr Morgan takes
away one of the greatest financiers
In the history of this eountrv or th
world Despite the position Mr. Moi
gan held, however, and the vast In
terests with which he was connect
ed. I do not beIJee that hlw death
will affect business. HR firm was
so organized that the dropping out
of one man, even t)ie head of that
great Institution, w-opld not prevent
the activities of the firm from being
carried on, even for the present, or In
the future.1′
W. B. Hlbbs. head of the firm of W.
B. Hlbbs &. Co., bankers and stock
brokers:
“Mr. Morgan was a general. The
i nation and the world will now see
Til
MORGAN
HAD
P. Morgan, Jr., and His Daughter, Mrs. Herbert ,L. Satterlee.
that this Is true. No general on the
field of battle ever attended to the
matter of detail as did Mr. Morgan.
He so conducted his operations that
nn mnttpr wlithni” In llf nr in death.
the vast Interests he controlled would
be undisturbed. Mr. Morgan In life
prepared for death. By doing this he
performed a tremendous benefit to his
country, as no pante or disturbance
or any kind will fallow his passing
away.
“His death is a financial loss as
well as social. He was a wonderful
man: the only one of his kind In the
world. Despite vicious attacks, he re
mained unswervlnjr and forceful. He
did more for charity than manv give
him credjt for. He did wonders in
this direction, but without advertis
ing.” ILL HEALTH CAUSES
DAVIS TO RESIGN
Superintendent of Station B
Leaves Postoffice Depart
ment .After Long Service.
Superintendent Madison Davis, of
Station B, of the city postoffice, for
mer assistant postmaster of Wash
ington and chief clerk to the Third
Assistant Postmaster General, has re
signed. Mr. Davis will leave the service to
day, owing to ill health and advancing
age.
He will be succeeded as superintendent
of station B by Edgar Church, assistant
superintendent. Several promotions will
result from the change. George C. Bon
durant. a foreman, will become assist
ant superintendent, and Joseph S. Was
ney will bo made foreman
Mr Davis, after many years’ srlce
in the Postoffice Department, became
chief clerk to the Third Assistant Post
master General when John A. Merrltt
was appointed to that office. When Mr.
Merrltt became postmaster of Washing
ton he took Mr Davis with him as As
p’stint Postmaster. Later he was as
Signed to station B. He was al”o at
one time chief clerk of the Government
Printing Office.
Bottles Case
To Court of Appeals
Whether the District of Columbia
has a right to prosecute milk dealers
for using bottles not belonging to them
to serve milk and cream to customers
Is a question that the District Court of
Appeals will be called upon to decide.
All prosecutions to this date have been
brought by the District and through
Attorney Matthew E. O’Htlen, who lias
hern tetalned as counsel for the Inde
pendent dealers of the cit. have been
stayed on the contention of the lawjer
that the dealers should bo prosecuted
bv the Tnltcd States and not the Dis
trict of Columbia
Attoinc O’Brien announced in Police
Court todu that he will take the cases
in which he has been retained to the
Court of Appeals He would make a
test case, he said, of the case of the
District vs W A. Slmnson. a milk
dealer of Southeast Washington.
Entertainments Planned
For Blind This Week
Entertainments, for the blind In the
leading toom of tin Library of Con
gress during this week are nuiiounced
as follows: Tue.sdav. April 1. 2:30 p. in.,
a reading by Mr. Freeman Thorpe, the
subject to be “Homerrortin?:” Frldn.
Apill 4. at S p m., a musical In which
Miss Ella Nelson, as pianist. I.eRov A.
Gild’4-. as tenor, and W. Alfre-d Faulk
ner, as the reader, will tnk pan. At
these entertainments seats will be re
served for the blind and their escorts.
1 he remaining spue is freely open to
the public up to the capacity of the
room.
SEES SELFISHNESS
IN
T
Congressman Neeley Declares
Charge That Inquiry Hurried
Death Was Inspired.
“I don’t believe there is any truth
whatever In the report that Mr. Mor
gan’s health was In anv way affected
by his appearance before the Money
trust committee,” said Congressman
Neeley of Kansas, the only member of
the committee now- In Washington.
“The committee was engaged in a
most Important public duty,’ and som
of the disclosures of the financial
methods pursued by Mr. Morgan and
his friends were decidedly startling to
the country. This doubtless resulted
In much public criticism, and the end
Is not yet.
“Our committee showed Mr. Morgan
every possible courtesy, and for a man
of his age he appeared to be In splen
did condition, both physically and men
tally. His ability to parry questions
that he would rather not answer, his
ready nit, and frequent sallies with
counsel. Impressed the committee with
his very unusual ability, and was a de
cided change from the examinations of
other witnesses.
“I remember when counsel had mis
placed some data that he desired to use
In Interrogating the banker, and sug
gested a recess for a few moments,
stating that Mr. Morgan might desire a
few minutes relaxation. Mr. Morgan
smilingly answereel that he was ‘feeling
very fine’ and preferred to continue the
examination. At the conclusion of the
examination, Morgan came up to the
rostrum on which the committee was
seated, shook hands with each mem
ber, and rather profusely thanked us
for the courtesy we had shown him.
At the same time he assured us It had
been a pleasure to offer Jils testimony.
“The Morgan Interests have published
and sent broadcast throughout the
Pnlted States, and particularly In the
districts of members of the committee,
a letter containing many statements
substantiated by no witness who ap
peared before the committee. The In
sinuation that the committee’s cour
teous examination of Mr. Morgan con
tributed In any manner whatever to
his demise appears to be a studied at
tempt to make capital of his death, and
to arcuse sympathy for a system that
in manv respects Is at a derided variance
with the Interests of our people.
Boy Struck by Ball
In Serious Condition
Suffering from cerebral convulsions
as the result of being hit in the head
with a pitched ball. Carl ltothenburg,
eight years old, 16i Montello avenue
northeast, is in a serious condition to
da in Casualty Hospital.
The bo was plalng with some com
panions jesterday afternoon when he
was -,11 lick !, the ball. He was stunned
for a moment, but In a little while was
apparently an ngnt. In the evening
young ltothenburg attended a motion
picture show. On the way home the
lad collapsed. A policeman called an
nmbnlnnce and he was taken to the
hospital.
Two Burglars Scared
Away From Open Trunk
Two burglars were discovered last
evening ransacking a tiunk In a rear
room on the first floor of the home of
Mrs. James Gnllngher, 1220 Wisconsin
aenue northwest. Thev fled through
an open window when u member of the
family started to enter the room. Noth
ing was stolen.
TO CL’HB A COI.D IX ONE DAT
Tk LAXATIVE BROMO Qulnln. TablaU.
DrunliU refund money If it rIU to cur.
C. W. GROVE’S slcn&ture U on Mch box. So.
MOD
OR
STATESMEN REGRET
FINANCIERS DEMISE
Morgan’s Death Not Unexpected
Here, by Men Who Saw Him
Before Pujo Board.
Profound Interest was manifested
In Washington today at the news of
the death of- J.-Pierpont Morgan. At
the same time, the Information wu
receved; without the shock that would
have resulted had it not been well
known here that, the strength of the
aged financier had been falling- In re
cent months. -Moreover, the cable
news of recent days had left little
question that Mr. Morgan’s condition
was such that he would no longer be
able to play the part of a master hand
in the. affairs of the “Street.”
Many expressions of regret over
the death of Mr. Morgan were heard.
He was almost as well known In
Washington as in’ New York. ,He was
a frequent visitor here, had various
Washington interests, and on a num
ber of occasions appeared at the Cap
itol as a witness in Congressional in
vestigations. Tedtfied at Pajo Inquiry.
His last appearance in Washington
was this winter, when he was called
before the Pujo committee which was
investigating the Money trust. At that
time it developed clearly that Mr. Mor
gan was no longer In his once robust
health. He’ tired much more easily than
of old. and it was also clear that his
mind, while strong, did not work with
the lightning-like rapidity and the pre
cision, which, characterized it In his
prime. Friends of Mr. Morgan then
commented freely to the effect .he was
aging. Nevertheless, he made a good
witness and succeeded in’ getting a lot
or matter into therecord that, from his
angle of the Money trust question,
made good reading
It was also noticeable then that Mr.
Morgan had lost something of the
bfusqueness which he manifested in his
younger days apd was becoming more
mellowed and good-natured. No more
good-natured witness was before the
Pujo committee ; this ;wlnter. in spite of
a prolonged grilling, than-Mr. Morgan.
Death Sileacts CriUdna.
The death of Mr. Morgan, as viewed
in Congress circles, will not materially
alter the situation with respect to the
attempts at Money trust legislation which
are to be a feature of this Conmsa.
Had Mr. Morgan, lived, there Is no ques
tion he would have been singled out by
scores of speakers in House and Senate
as the bogey man with ‘respect to tho
centralisation or moneys and credits in
this country.
His death will silence much of tho
criticism that would have been .heard
from those men In oCngress who be
lieve that he. more, than anv other ner-
‘ son, was responsible for the upbuilding
oi me so-cauea juoney trust.
Before Pujo CommitteeV
When Mr. Morgan appeared before
the Pujo committee he was accom
panied by a retinue of partners, law
yers, and relatives. All ot them seemed
solicitous of the master financier’s
health during the examination, although
Mr. Morgan himself Insisted that he
wasn’t tired, and wanted to get the ex
amination over with when the usual
recess hours approached.
Mrs. Herbert I. Satterlee sat near her
father during his two days on the wit
ness stand before the Pujo committee.
and she frequently seemed on the verge
of remonstrating that Mr. Morgan
might overtax his strength. After he
hearings were over, however, Mr. Mor
gan waved aside all such suggestions,
and called foe another big black cigar.
It was apparent, nevertheless, that
the Morgan who appeared before The
uju vuuiiuiiicc nao .jl vug diuiAai u&
old. When he appeared before the Sen
ate campaign Investigating commlttt;.
In September last, he was a much
stronger man than when he returned
examination by the Money trust probors.
to Washington In the late winter for an
Within a few months old age and a
general breakdown had made noticeable
inroads upon a once robust constitu
tion, and spectators who had seen Mr.
Morgan before both committees mar
veled at the change. There were whis
pered predictions then that the master
financier would not last another year.
MORGlKlER
TOLD IN BRIEF
Great as have been the achievements
of J. Plerpont Morgan, his life shows
an almost unequaled number of activi
ties, ranging from money making to
money giving, from art to railroads,
from society to Interest In the elimina
tion of bad conditions among the poor
and needy.
Born on April 17, 1S37, graduated from
the Kngllsh High School at Boston In
1S54 at the age of seventeen, and Trom
Gottlngen University, Germany. Morgan
went Into business with Duncan Sher
man & Co., New York, at an early age.
His life was marked with Intense ac
tivity. Scarcely a phase of living but
felt the touch of his master hand. His
business experience was connected with
many events reckoned among the most
Important in the business world.
The first entrance of J. P. Morgan
Into business life for himself came when
he started the firm of Dabney. Morgan
& Co. His first big railroad deal was
consummated In Februarv. 1870. when he
arranged the lease of the Albany and
Susquehanna railroad to the Delaware
and Hudson. Morgan first began his
dealings with the Vanderbllts when he
entered the firm of Drexel. Morgan &
Co. , . ,
Some of Big Deals.
Since that time the big deals with
which he was connected Include the so
called “gentlemen’s agreements” be
tween railroad presidents. 18M-US9; the
famous AVest Shore deal. In 1SS5: the
“Morgan Hospital for Crippled Rail
roads.” lSSG-1900-thIs included the re
organization of the Chesapeake and
Ohio, the Southern, the Krle and others
the reorganization of the Northern
Pacific railroad: the relief of the United
States Treasury in 1S93; the negotia
tion of the Mexican loan, the first large
foreign loan ever placed In the United
States, 18S9: the handling of 125.000.000
of the British war loan, In 1900; the
forming of the United States Steel Cor
poration, February. 1901, with a capi
talization of Jl.154.000,000: the formation
of the Northern Securities Company.
In November. 1901: the organization of
th International Mercantile Marino
Swift & Company’s sales of fresh beef
In Washington. P. C.. for the week end
ing Saturday. March 3, averaged 12.15
cents per pound. Advt.
Wealth Owned ano, Controlled b$
J. P. Morgan
HoIdiHfs credited to the late J. P. MergM:
Cfeapaales. Stocks. Brads.
Jiew Tort Ceatral $85t,W 9241,414,999
mj S Jc jS S By Co .- s9G9G0 lg4WV99
MleklgH Central 18,”W,9W H,m,m
S.;Y. k Harlem BJrer Kt. Co 1MM lSrMM
JT. T. A Xortaeni By. Co.–…… -SV99j9w 51299,999,
Rhode Island Ceaiaaay 581,99 11,199)99
BRtlaad Railway Cospaay ‘…’ 1V999?999
West Shore Railway Coatpaay..1 19,999999 9,99999
AvT. S. Fe By. Co ‘.-..:.. 19t,99 SI549MM
JT. T, Sasqaehaaaa k Western 99t,9 1MMM
Hadfloa”& Manhattan By. Co……:…-.. ,999,999 7,f9t,9N
Iatefho’roafh-JIetropolItaa …- ! KSGtr ?S9M99
Totals- .7. .”.. M8M8M99 TiljiiMM
Graad total, IMIMtS. ‘
The holdings of Mr. Mergaa and his interests are estimated as fellows i
Companies. Stocks. Bends.
A. T. k Ti Co HiMiMt l31MM9t
rXorgan-Gnggenhelni Alaska’ syndicate, (es
timated .. -” 25JJ9t,ti
Knhn-Leeb Chinese syndicate….’.-..; liftlm
General Electric… -SM99,999 lMaMa
. Mexican Telegraph 5,999,991
Adams Express Company 12,9i,090 M’M’O
Hendaras loan.. .”” HfJMi
Panama laTestments MM99
Totals …….. 3i,999,999 SinaSjfVn
Grand total, $7Ujmjm.
.
‘This is. as far as tehnlatien is possible, hat it is estimated that Mor
gan’s one-man. power wasas fellow:
Morgan” own companies . .feVilf ,487?
‘ Manma’ ‘afalialed companies ………… ZflamJ9mfltm
Morgan’s banking Interests…
Morgan’s, partners’ holdings .
Total –
Company, in 1902. and a long Ust of
other activities of recent years.
In Wall Street it has been said that
J. Plerpont Morgan either held the tiller
or had a voice in piloting a fleet of
corporations comblnlngan K8Tegata
capital of more than t2.300.000.080. Never
.. !., mA nn mttn Wielded
so much power nor had the guiding
voice ‘concerning ‘such a vast quantity
of wealtn. his name numn -.SS””!;
synonymous with that of wau
.. . . .- i. o. Kiinrri hv many
that the operations of that famous
street were nearly always concerned
witn the man who um i.uuh .,
called “the Wizard of Finance.’
Lover. of Art.
Nothing Is so indicative of the many
aldedness’of J. P. Morgan as hi pre
vailing recognition ofthe best worlC
that was done In the. studios, of the
art world.. He-appeared to be .as much
at home” before a mural for pictorial
masterpiece as. In his banking house
directing the affairs of the tremendous
commercial enterprises with which he
was identified.
The presentation to the mlneraloglcal
department of the Jardln des Plantea,
during one of his visits to Paris, ot the
famous Pan-American collection of
..m.i o,f nraMnu .tnn.f. WAN One Of
the characteristic acts of the man, and
was nallea wiin aengni oy una iw
felt the embarrassment caused by the
fact that this famous depository had
practically no collection of American
The Morgan libraries In London and
New York are studded with gems of the
bookmaklng art. An enumeration of
the masterpieces of art owned by J.
Plerpont Morgan would be to cata
logue many Invaluable canvases which
bear the signatures of emperors and
kings In the royal domains of art.
.Belonged To Clubs .
Mr. Morgan, In spite of his tre
mendous business activity, always has
found time to devote to social life, and
he was a member of many clubs. His
most active club membership was with
the Metropolitan Club, of New York,
and In the great New York Yacht Club.
For a number of years he was a mem
ber of the Rue Royal Club, In Paris.
As a host In his own home, Mr. Mor
wan always was considered charming,
one possessing vast abilities to please,
who could talk with the bishop or the
doctor of divinity, discuss the latest
discoveries of the archaeologists in
Egypt, the canvases of Titian, or the
latest master discovered.
Mr. Morgan was a retiring man, but
he always enjoyed good company, and
he did his duty by society, and played a
quiet, dignified, hospitable part.
Mr. Morgan spent a great deal of time
…….. Kl. ..,. Vi matter how en-
grossed In business he became, he al
ways was ame io nnu ume io jua auum
time on his private yacht, cruising In
the Mediterranean among the isles of
Greece and through American waters.
He was at one time commodore of the
New York Yacht Club and was always
ready to assist In the defense of the
famous America’s Cup. It was the so-
..ii. rA,v.n avnHtmt. tl-htrh hullt ttlA
CilllCU J1V.. ” – — — – — -“-
Defender, the Columbia and later the
Constitution.
Toward labor Mr. Morgan was silent.
Hunyadi
Janos
Pills
The New And
RIGHT REMEDY
For CONSTIPATION
will gently and surely Te
ller the most obstinate cases.
They are intended to regm
lat the bowels and prereai
Biliousness, Xeadaohes,
Stomach Disorders, etc
TUT 390 XT, TOO.
Take 1 or a pills to-algnt
and confine
yoarstlf.
Ask
Anv
Druqyisl
tor
iOrEtyfafrom
thtttandy
iASAXLEHNEff
UutfbcHr
V,qI
NEW YORK
Lwamnssnnnnffmnnssssnmssssl
WSS Price 251
tUUvfl
m’1
n w
..-.. ….inBai!BB,9n
f but his actions have always Indicated
sympathy with the movements for the
betterment of conditions among the
laboring men. His great interest In
railroad and other Industries where
thousands of men were employed al
ways Indicated that he was surely not
opposed to the forward movement of
worklngmen.
Much ‘of the philanthropy of J. Pier
pent Morgan was unheard of. Almost
every library or art collection in the
country ca”n boast of some treasure he
donated. But this is- bnt one of the
many lines along which his philan
thropy showed itself.
Perhaps one of- the most enduring
monuments he raised to himself, and
one that is of tremendous public benefit
is the “splendid hospital’ at the corner of
Eighteenth street and Second avenue In
New York. He bu lit. and , equipped .this
Institution out of his own pocket-and it
Is considered one of the most perfect
of the kind in the world.. ,
A. characteristic donation of. the Mor
gan benefaction was the system of elec
tric lights in St. Paul’s Cathedral. Lon
don. A few days after the installation,
it was decided by the cathedral officer
to put In additional lights to cost from
115,000 to -CO.00O. Mr. Morgan Immedi
ately offered to supply Ihe second In
stallment. POSLAM THE
EFFICIENT
SKIN REMEDY
Poslam is proclaimed the one effici
ent skin remedy by its thousands of
users. Its healing powers manifest
all Itching is stopped and ailing skin
a ouuuitu. cooiea ana comtorted.
Eczema, acne, psoriasis, barbers’ and
every form of Itch are ‘tulckly cured.
Cases Of thpxp trnnMu. r.f ….
standing have been completely eradi
cated by Poslam after other -remedies
were aoaiiuonea as ineiicctuai.
POST. AM SflAP I. nf i..ii.i.i.
benefit to all whose skin is subject to
eruptlonal troubles. It is Ideal for
baby’s bath, never Irritate, and every
mother may rely upon Its absolute
nitrite Tf an m.I(.a l.4 …..ft…..
r’ — – wi.w am m tribunal
ng scalp difficulties.
aii uruggtsis sen roslam (price, 30
cents) and Poslam Soap (price. 55
cents). For free samples, writ- to
the Emergency Laboratories 32 West
25th Street. New York City. Advt.
EDUCATIONAL
THE DRILLERY
llOO New York Ave.
Teacbe- By Madera Metkods.
Pitnma t Gregg Shorthand,
Typenrrltlag. Business and Civil
Service Courses. Telesrrapky.
W prepare for the spring Civil
Service examinations in April.
;gi
PACKING. STORAGE
MOVl.L.
Tour household roadx I.t n. hmlih … .
tlmate. Kates by losd or contract. Paddid
sn anil reliable movers. P&cklns. Sblsplaa.
Storms. -.–..
Merchants Transfer & Storago Co..
920-922 E St N. W.
PADDED VANS ,vao’1c”rtu,,,lc
Makes Moving Eur.
Get our estimate. Tacking- ana S&tpplns
a specialty.
KRIEG’S EXPEESS,
1 H STREET. PHONB 1
1
STORAGE
H. BAUM & SOX. JU PA. AVE:
SI load per month. Phone M. US4.
100 SEPARATE itorage room: see us before
atorlns. THOS. DOWLINQ & CO.. Auo-
tloneera. fli E at. N. W. Phone Main 511
GET OUR ESTIMATES on absolutlrflr
proof storage, mot Ins. packing. UNITES
STATES STORAGE CO.. US-IU 10th at. N.
W. Phone M. 4- t-
PADDED ans. H & f S Id.: :-h. wason. W 1L
Phone Main 1915-1 SIS.
COLUMBIA TRANSFER & STORAGE CO..
SC5 N. Y. Ae. N. W.
Packing and Shipping. Storage, t! van load.
MOVING EXPENSES REDUCED.
We will do your molrg. picking, ani
ablpplng. and take In payment old furniture.
etoves. etc. WASHINGTON’S FURNITURE
CO.. 1310-13U 7th it. N. W. Phone North STJ.
4i- .&…
r?4S
tsa-afcfer-‘U
X
The Commoner,
JANUARY 10, 1913
British minister, Choate, at their head to pro
tect him when it appeared necesary, from the
prying proboscis of tbo committee. His clearly
evasive answers to many of the questions showed
him merely as a skillful fencer crowding the lino
of falsehood so closely that it was hard to toll
whother ho had not in fact crossed It. Take
the following verbatim” report to questions and
answers of his testimony about his purchase of
the Equitable Insurance company stock from
Ryan and Harrlman:
Q. You may explain, if you care to, Mr.
Morgan, why you bought from Messrs. Ityan and
Harriman $51,000 par value of stock that paid
only $3,570 a year for approximately $3,000,0t)0,
that could yield you only one-eighth or one-ninth
of 1 per cent. A. Because I thought it was a
desirable thing for the situation .to do that.
Q. That is very general, Mr. Morgan. Will
you speak of the situation? Was not that stock
safe enough in Mr. Ryan’s hands? A. I sup
pose it was. I thought It was greatly improved
by being in the hands of myself and these two
gentlemen, provided I asked them to do so.
Q. How would that improve the situation over
the situation that existed when Mr. Ryan and
Mr. Harriman held the stock? A. Mr. Ryan
did not have it alone.
Q. Yes, but do you not know that Mr. Ryan
originally bought it alone, and Mr. Harriman
insisted on having him give him half? A. I
thought if he could pay for it at that price, I
could. I thought that was a fair price. .
Q. You thought it was good business, did
you? A. Yes.
Q. You thought it was good business to buy
a stock that paid only one-ninth or one-tenth
of 1 per cent a year? A. I thought so.
Q. The normal rate of interest that you can
earn on money is about 5 per cent, is It not?
A. Not always, no. I am not talking about it
as a question of money.
Q. The normal rate of interest would bo from
4 to 5 per cent ordinarily, would it not? Where
is the good business, then, in buying a security
that only pays one-ninth of 1 per cent? A. Be
cause I thought it was better there than it was
where it was. That is all.
Q. Was anything the matter with it in the
hands of Mr. Ryan? A. Nothing.
Q. rt In “what respect would’ it be better where
it is than with him? A. That Is the way it
struck me.
Q. .Is that all you have to say about it? A.
That is all I have to say about it.
Q. You care to make no other explanation
about it? A. No.
Q. The assets of the Equitable Life were
$504,465,802.01 on December 31, 1911. Did
Mr. Ryan offer this stock to you? A. I asked
him to sell it to me.
Q. Did you tell him why you wanted it?
A. No, I told him I thought it was a good thing
for me to have.
Q. Did he tell you that he wanted to sell it?
A. No, but he sold it.
Q. He did not want to. sell it, but when you
said you wanted it, he sold it? A. He did not
say that he did not want to sell It.
Q. What did he say when you told him you
would like to have It and thought you ought to
have it? A. Ho hesitated about it and finally
sold it.
Doesn’t it look as though the feathers of Mor
gan’s angel wings were pretty badly singed by
the fire of that examination? Denver News.
evon though the law they administer has not
awakened.
“Since I entered politics I havo chiefly had
men’s views confidod to mo privately. Some of
the biggest men in the United States, in the field
of commerco and manufacture, aro afraid of
somebody; are afraid of something.
“American industry Is not free as onco it
was free; American enterprise is not froo; tho
man with only a little capital is finding it harder
to got into the field, more and more impossible
to compete with the big fellow. Why? Because
the laws of this country do not prevent the
Btrong from crushing tho weak. That is the
reason, and becauso the strong have crushed the
weak, the strong dominate the industry and tho
economic life of this country.
“There Is a great deal that needs reconstruc
tion in the United States. I should like to tako
a coubus of the business men I mean tho rank
and file of tho business men as to Whother
they think that business conditions in this
country, or rather whether tho organization of
business in this country is satisfactory or not.
“I know what they would say if they dared. If
thdy could vote secretly they would vote over
whelmingly that the present organization of
business was meant for tho big follows and was
not meant for the little fellows.
“What this country needs above everything
else is a body of laws which will look after tho
men who are on tho make rather than tho men
who .are already made. Becauso tho men who
already are made are not going to livo indefinite
ly, and they uro not always kind enough to loavo
sons as able and honest as they are.”
The president-elect ‘deplores the extent to
which government has become associated with
business and regards it as the “most alarming
phenomena of the time.”
“Our government has been for the past few
years under the control of heads of great allied
corporations with special interests,” he says. “It
has not controlled these interests and assigned
them to a proper place in tho whole system of
business; it has submitted itself to their control.
“As a result, there havo grown jp vicious
systems and schemes of governmental favoritism
(the most obvious being the extravagant tariff) ;
far-reaching in effect upon tho whole fabric of
life, touching to his injury every inhabitant of
the land, laying unfair, and Impossible handicaps
upon competitors, imposing taxes in every direc
tion, stifling everywhere the free spirit of Ameri
can enterprises.”
WOODROW WILSON’S TRIBUTE TO
BUSINESS MEN
Woodrow Wilson has written for the January
issue- of the World’s Work an article entitled
“The Now Freedom.” Referring to the problem
of corporations, he says:
“What we have to discuss Is not wrongs which
individuals intentionally do for I do not be
lieve there are a great many of those but the
wrongs of the system. I want to record my pro
test against any discussion of this matter, which
would seem to Indicate that there are bodies of
our fellow citizens who are trying to grind us
down and do us injustice. There are some men
of that sort, I don’t know how they sleep o’
nights, but there are men of that kind. Thank
God, thoy are not numerous. The truth is we
are all caught in a great economic system which
Is heartless.
“When I hear judges reason upon the analogy
of relationships that used to exist between work
men and their employers a generation ago, I
wonder if they have not opened their eyes to
the modern world. You know we have a right
to expect that judges will have their eyes open,
AN IRRESPONSIBLE AUTOCRAT
There are nearly 7,500 national banks in the
United States, with a capital of more than
$1,000,000,000 and resources of fully $6,000,
000,000. They are all under the authority of
government.
There are more than 17,000 state banks, sav
ings banks, trust companies and loan companies,
with resources approximating $14,000,000,000.
They are all under the authority of government.
There are 214 life insurance companies, with
assets of approximately $4,000,000,000. They
are all under the authority of government.
There are 240,000 miles of railroad, capi
talized at more than $20,000,000,000. Practi
cally all these roads are under the authority of
government.
In addition, there are hundreds of millions of
dollars invested in traction lines, in gas plants
and in various other corporations affected with
a public interest. All this capital la under the
authority of government.
Nobody questions the wisdom of such super
vision. It is accepted as a matter of course,
because there is no other means of safeguarding
the general welfare, though government may be
weakly and badly and foolishly administered.
Even Wall street has come to admit the neces
sity of a certain degree of government regula
tion, and among its captains of industry aro
men who have seriously advanced the radical
socialistic suggestion that government should
supervise not only the capitalization and conduct
of great corporations, but should fix prices as
well.
It is only when somebody proposes to regu
late the New York Stock Exchange that a wild
chorus of dissent arises. The whole world of
big business is agreed that the institution which
manipulates prices.which fixes the rate of Interest
that legitimate industry must pay for loans,
which can commandeer hundreds of millions of
other people’s money to juggle for Its own
profits, which sets aside tho laws against usury
and the laws against over-certification of checks,
which can plunge the country into a panic, and
is responsible only to itself, is the one institu
tion that is too sacred for government to meddle
with.
Could anything bo more ridiculous or absurd?
If tho Now York Stock Exchange Is not affected
with a public interest, as tho courts say, nothing
is affected with a public interest. It should no
longer remain tho groat anarchist of organized
wealth, but it should bo incorporated by the
legislaturo of Now York and subjected to tho
supervision of tho superintendent of banking.
No body of men Ib fit to bo trusted with tho Irre
sponsible power over prosperity that is now
-vv’r ‘-(! by tho stock oxchango. Now York
World. .
OxSE PHASE OF CARNEGIE “PHILAN
THROPY” Omaha (Neb.) Chancollor; There is anothor
phase to this Carnegie “philanthropy” that
should bo repeatedly emphasized. Let it novor
be forgotten that his so-callod gifts aro never
actual gifts of wealth In such form that It will
easily bo dissipated. It is always In tho form
of stocks or bonds in such Institutions, say,
as tho American steel corporation. Every per
son knows tho character of tho corporations in
which Carnegie not only has secured his ill-gotten
gains, but in which even now his wealth is
invested and upon which his millions still pile
up. Now ho proposos to “give” to a few favorod
persons certain sums represented in these stocks
and bonds. In other words, ho proposes to give
to a fow, for tho purpose of winning their sup
port for these modern forms of piracy, an
economic interest In the fruits thereof that they
. may become supporters of the dishonest
economic system by which they wero at first
socured. For let It not bo forgotten that none
of these stocks and bonds represent any wealth
already produced, but aro In fact liens upon
wealth yet uncreated, upon wealth which un
born generations are to earn, and which they
will never receive, so long as wo continue the
present policy of not only looting tho weak of
our timo, but of tho generations yet unborn.
To support such piracy shows either ignorance
or infamy, and Carnegie is not Ignorant.
Several years ago ho announced that ho would
attempt to dispense his wealth, or what the
law considers his, before ho dies, for, said ho,
“it is a disgrace to die rich.” It Is not a dis
grace cither to live or die rich, if those richos
aro honestly earnod, but riches socured through
influencing legislators to pass lawB transferring
to your pockets the wealth which others produce
is not honestly earning your wealth, and to pos
sess such wealth living or doad ic a disgrace.
Carnegie is that man, and ho knows it. Yet
what is ho doing or what has ho ever signified ho
would do to change tho infamous system by
which ho secured his filthy, blood-stained
wealth? Not ono thing. On tho contrary, ho
has done all he could to perpetuate that system,
and so long as that conduct is tho ruling course
of his life, let his very name bo an anathema
among high-minded, honorable men.
J I!
TJIE LITTLE FELLER ,
Little feller, little feller, ‘I
Runnln’ all around tho ranch’
Playln’ with the calves and chickens,
Sailln’ boats down In tho branch,
Ridin’ on your saddle pony,
‘Cross the breezy prairie ways
Little feller, little feller,
How you brighten up our days.
V –
Little feller, when we hear you,
Laughin’ that clear, childish note,
How it makes the worries scatter
How like mist our troubles float;
How tho frowns wo wore aro vanished,,
How tho harsh thoughts die away;
– Little feller, little feller,
How you heal us In your play.
How you bring the good that’s in us
To the forefront of our souls;
How you keep the days unfoldin’
Like a wealth of golden scrolls;
Live without you, little feller?
Why, the thought jest makes us sick;
You’re the sun of our existence
On this ranch at Lonesome crick.
Arthur Chapman In the Denver Republican.
Q
Subscribers to The Commoner who
commenced with tho first issue of the
paper should renew their subscriptions
now to avoid the possibility of missing
an Issue of the paper.
00
e
, iteJ’ i ‘iK v
f- .
X
The Commoner,
JANUARY 10, 1913
British minister, Choate, at their head to pro
tect him when it appeared necesary, from the
prying proboscis of tbo committee. His clearly
evasive answers to many of the questions showed
him merely as a skillful fencer crowding the lino
of falsehood so closely that it was hard to toll
whother ho had not in fact crossed It. Take
the following verbatim” report to questions and
answers of his testimony about his purchase of
the Equitable Insurance company stock from
Ryan and Harrlman:
Q. You may explain, if you care to, Mr.
Morgan, why you bought from Messrs. Ityan and
Harriman $51,000 par value of stock that paid
only $3,570 a year for approximately $3,000,0t)0,
that could yield you only one-eighth or one-ninth
of 1 per cent. A. Because I thought it was a
desirable thing for the situation .to do that.
Q. That is very general, Mr. Morgan. Will
you speak of the situation? Was not that stock
safe enough in Mr. Ryan’s hands? A. I sup
pose it was. I thought It was greatly improved
by being in the hands of myself and these two
gentlemen, provided I asked them to do so.
Q. How would that improve the situation over
the situation that existed when Mr. Ryan and
Mr. Harriman held the stock? A. Mr. Ryan
did not have it alone.
Q. Yes, but do you not know that Mr. Ryan
originally bought it alone, and Mr. Harriman
insisted on having him give him half? A. I
thought if he could pay for it at that price, I
could. I thought that was a fair price. .
Q. You thought it was good business, did
you? A. Yes.
Q. You thought it was good business to buy
a stock that paid only one-ninth or one-tenth
of 1 per cent a year? A. I thought so.
Q. The normal rate of interest that you can
earn on money is about 5 per cent, is It not?
A. Not always, no. I am not talking about it
as a question of money.
Q. The normal rate of interest would bo from
4 to 5 per cent ordinarily, would it not? Where
is the good business, then, in buying a security
that only pays one-ninth of 1 per cent? A. Be
cause I thought it was better there than it was
where it was. That is all.
Q. Was anything the matter with it in the
hands of Mr. Ryan? A. Nothing.
Q. rt In “what respect would’ it be better where
it is than with him? A. That Is the way it
struck me.
Q. .Is that all you have to say about it? A.
That is all I have to say about it.
Q. You care to make no other explanation
about it? A. No.
Q. The assets of the Equitable Life were
$504,465,802.01 on December 31, 1911. Did
Mr. Ryan offer this stock to you? A. I asked
him to sell it to me.
Q. Did you tell him why you wanted it?
A. No, I told him I thought it was a good thing
for me to have.
Q. Did he tell you that he wanted to sell it?
A. No, but he sold it.
Q. He did not want to. sell it, but when you
said you wanted it, he sold it? A. He did not
say that he did not want to sell It.
Q. What did he say when you told him you
would like to have It and thought you ought to
have it? A. Ho hesitated about it and finally
sold it.
Doesn’t it look as though the feathers of Mor
gan’s angel wings were pretty badly singed by
the fire of that examination? Denver News.
evon though the law they administer has not
awakened.
“Since I entered politics I havo chiefly had
men’s views confidod to mo privately. Some of
the biggest men in the United States, in the field
of commerco and manufacture, aro afraid of
somebody; are afraid of something.
“American industry Is not free as onco it
was free; American enterprise is not froo; tho
man with only a little capital is finding it harder
to got into the field, more and more impossible
to compete with the big fellow. Why? Because
the laws of this country do not prevent the
Btrong from crushing tho weak. That is the
reason, and becauso the strong have crushed the
weak, the strong dominate the industry and tho
economic life of this country.
“There Is a great deal that needs reconstruc
tion in the United States. I should like to tako
a coubus of the business men I mean tho rank
and file of tho business men as to Whother
they think that business conditions in this
country, or rather whether tho organization of
business in this country is satisfactory or not.
“I know what they would say if they dared. If
thdy could vote secretly they would vote over
whelmingly that the present organization of
business was meant for tho big follows and was
not meant for the little fellows.
“What this country needs above everything
else is a body of laws which will look after tho
men who are on tho make rather than tho men
who .are already made. Becauso tho men who
already are made are not going to livo indefinite
ly, and they uro not always kind enough to loavo
sons as able and honest as they are.”
The president-elect ‘deplores the extent to
which government has become associated with
business and regards it as the “most alarming
phenomena of the time.”
“Our government has been for the past few
years under the control of heads of great allied
corporations with special interests,” he says. “It
has not controlled these interests and assigned
them to a proper place in tho whole system of
business; it has submitted itself to their control.
“As a result, there havo grown jp vicious
systems and schemes of governmental favoritism
(the most obvious being the extravagant tariff) ;
far-reaching in effect upon tho whole fabric of
life, touching to his injury every inhabitant of
the land, laying unfair, and Impossible handicaps
upon competitors, imposing taxes in every direc
tion, stifling everywhere the free spirit of Ameri
can enterprises.”
WOODROW WILSON’S TRIBUTE TO
BUSINESS MEN
Woodrow Wilson has written for the January
issue- of the World’s Work an article entitled
“The Now Freedom.” Referring to the problem
of corporations, he says:
“What we have to discuss Is not wrongs which
individuals intentionally do for I do not be
lieve there are a great many of those but the
wrongs of the system. I want to record my pro
test against any discussion of this matter, which
would seem to Indicate that there are bodies of
our fellow citizens who are trying to grind us
down and do us injustice. There are some men
of that sort, I don’t know how they sleep o’
nights, but there are men of that kind. Thank
God, thoy are not numerous. The truth is we
are all caught in a great economic system which
Is heartless.
“When I hear judges reason upon the analogy
of relationships that used to exist between work
men and their employers a generation ago, I
wonder if they have not opened their eyes to
the modern world. You know we have a right
to expect that judges will have their eyes open,
AN IRRESPONSIBLE AUTOCRAT
There are nearly 7,500 national banks in the
United States, with a capital of more than
$1,000,000,000 and resources of fully $6,000,
000,000. They are all under the authority of
government.
There are more than 17,000 state banks, sav
ings banks, trust companies and loan companies,
with resources approximating $14,000,000,000.
They are all under the authority of government.
There are 214 life insurance companies, with
assets of approximately $4,000,000,000. They
are all under the authority of government.
There are 240,000 miles of railroad, capi
talized at more than $20,000,000,000. Practi
cally all these roads are under the authority of
government.
In addition, there are hundreds of millions of
dollars invested in traction lines, in gas plants
and in various other corporations affected with
a public interest. All this capital la under the
authority of government.
Nobody questions the wisdom of such super
vision. It is accepted as a matter of course,
because there is no other means of safeguarding
the general welfare, though government may be
weakly and badly and foolishly administered.
Even Wall street has come to admit the neces
sity of a certain degree of government regula
tion, and among its captains of industry aro
men who have seriously advanced the radical
socialistic suggestion that government should
supervise not only the capitalization and conduct
of great corporations, but should fix prices as
well.
It is only when somebody proposes to regu
late the New York Stock Exchange that a wild
chorus of dissent arises. The whole world of
big business is agreed that the institution which
manipulates prices.which fixes the rate of Interest
that legitimate industry must pay for loans,
which can commandeer hundreds of millions of
other people’s money to juggle for Its own
profits, which sets aside tho laws against usury
and the laws against over-certification of checks,
which can plunge the country into a panic, and
is responsible only to itself, is the one institu
tion that is too sacred for government to meddle
with.
Could anything bo more ridiculous or absurd?
If tho Now York Stock Exchange Is not affected
with a public interest, as tho courts say, nothing
is affected with a public interest. It should no
longer remain tho groat anarchist of organized
wealth, but it should bo incorporated by the
legislaturo of Now York and subjected to tho
supervision of tho superintendent of banking.
No body of men Ib fit to bo trusted with tho Irre
sponsible power over prosperity that is now
-vv’r ‘-(! by tho stock oxchango. Now York
World. .
OxSE PHASE OF CARNEGIE “PHILAN
THROPY” Omaha (Neb.) Chancollor; There is anothor
phase to this Carnegie “philanthropy” that
should bo repeatedly emphasized. Let it novor
be forgotten that his so-callod gifts aro never
actual gifts of wealth In such form that It will
easily bo dissipated. It is always In tho form
of stocks or bonds in such Institutions, say,
as tho American steel corporation. Every per
son knows tho character of tho corporations in
which Carnegie not only has secured his ill-gotten
gains, but in which even now his wealth is
invested and upon which his millions still pile
up. Now ho proposos to “give” to a few favorod
persons certain sums represented in these stocks
and bonds. In other words, ho proposes to give
to a fow, for tho purpose of winning their sup
port for these modern forms of piracy, an
economic interest In the fruits thereof that they
. may become supporters of the dishonest
economic system by which they wero at first
socured. For let It not bo forgotten that none
of these stocks and bonds represent any wealth
already produced, but aro In fact liens upon
wealth yet uncreated, upon wealth which un
born generations are to earn, and which they
will never receive, so long as wo continue the
present policy of not only looting tho weak of
our timo, but of tho generations yet unborn.
To support such piracy shows either ignorance
or infamy, and Carnegie is not Ignorant.
Several years ago ho announced that ho would
attempt to dispense his wealth, or what the
law considers his, before ho dies, for, said ho,
“it is a disgrace to die rich.” It Is not a dis
grace cither to live or die rich, if those richos
aro honestly earnod, but riches socured through
influencing legislators to pass lawB transferring
to your pockets the wealth which others produce
is not honestly earning your wealth, and to pos
sess such wealth living or doad ic a disgrace.
Carnegie is that man, and ho knows it. Yet
what is ho doing or what has ho ever signified ho
would do to change tho infamous system by
which ho secured his filthy, blood-stained
wealth? Not ono thing. On tho contrary, ho
has done all he could to perpetuate that system,
and so long as that conduct is tho ruling course
of his life, let his very name bo an anathema
among high-minded, honorable men.
J I!
TJIE LITTLE FELLER ,
Little feller, little feller, ‘I
Runnln’ all around tho ranch’
Playln’ with the calves and chickens,
Sailln’ boats down In tho branch,
Ridin’ on your saddle pony,
‘Cross the breezy prairie ways
Little feller, little feller,
How you brighten up our days.
V –
Little feller, when we hear you,
Laughin’ that clear, childish note,
How it makes the worries scatter
How like mist our troubles float;
How tho frowns wo wore aro vanished,,
How tho harsh thoughts die away;
– Little feller, little feller,
How you heal us In your play.
How you bring the good that’s in us
To the forefront of our souls;
How you keep the days unfoldin’
Like a wealth of golden scrolls;
Live without you, little feller?
Why, the thought jest makes us sick;
You’re the sun of our existence
On this ranch at Lonesome crick.
Arthur Chapman In the Denver Republican.
Q
Subscribers to The Commoner who
commenced with tho first issue of the
paper should renew their subscriptions
now to avoid the possibility of missing
an Issue of the paper.
00
e
, iteJ’ i ‘iK v
f- .

Page

http://chroniclingamerica.loc.gov/lccn/sn84026749/1913-03-31/ed-1/seq-2/;words=Pujo+committee+Committee?date1=1860&rows=20&searchType=basic&state=&date2=1922&proxtext=pujo+committee&y=11&x=14&dateFilterType=yearRange&index=12

Page

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s