Wilson Proposes Reforms To GURB Trusts In New Jersey
President elect begins study of corporate laws and plans to draft measure to prevent evil. Proposals aim to curb abuses in trusts and corporate governance as part of first state policy push.
20 Dec 1912
Page 1
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Newspaper
Albuquerque Morning Journal
Location
Albuquerque, New Mexico, United States of America
Date
Dec 20, 1912
Page
1
President elect begins study of corporate laws and plans to draft measure to prevent evil. Proposals aim to curb abuses in trusts and corporate governance as part of first state policy push.
J Pierpont Morgan testifies before the pure committee probing the so called Money Trust detailing his views on banking practices and the role of large financial interests in markets.
J P Morgan told the House investigating committee that all money and banks could not form a monopoly. The hearing covered competition, cooperation, interlocking directorates, and who controls credit vs money, with Morgan defending business consolidation as good for the country.
The interview discusses wealth, credit, and control of banks. Morgan asserts he seeks no monopoly and questions whether one man can truly own all money. He concedes large power but denies feeling it, while Untermyer probes possible effects on competition and capital access. Continued on page six.
Morning Journal Special Leased Wire reports Chester H. Krum challenging the defendants’ ties to labor unions in the McNamara dynamite conspiracy trial. He questions the government's authority over intimidation acts and cites Ortie McManigal's past theft and testimony. The judge cautions about statute of limitations as Delhi county officials move Darrow case prep. Ortie McManigal remains in Indianapolis custody ahead of further proceedings.
Senator Overman of North Carolina formally asked President elect Wilson to appoint Josephus Daniels as postmaster general amid New Jersey corporate reform talk. Wilson, focused on trusts and legislation, met with Daniels’ long-time ally Edwin Walker and judge Bennett van Syvekel to draft new state laws while avoiding cabinet talk.
Peking reports the November 3 treaty terms as published here, seen by Chinese as more comprehensive than the Manchurian agreements that sparked the Russo Japanese war. China objects to provisions allowing Russian consuls and consular guards and to stationing offices in Mongolian ports and to establish post offices.
The day in Congress opened at noon with executive session to review presidential nominations. The impeachment trial of Judge Archbald resumed at 1 30 pm and adjourned at 4 45 pm until January 3, 1918. Taft message on posts and interiors read. adjourned to noon January 2. Morgan testified in money trust inquiry. Interior expenses panel censured Robert G. Valentine for prior conduct. Adjourned until January 6, 1913.
Morning Journal reports the bodies of aviator Kearny and reporter Lawrence recovered after their hydro aeroplane crash near the California coast. Lawrence's red sweater and clothing show he struggled to swim, while Kearny's body was found entangled in kelp with a life preserver. The pair disappeared after the craft dropped into the sea near Point Pimiden, about five miles from shore, with Lawrence dying first and his watch stopping at 5 o'clock.
Washington dispatch reports counsel for Judge Robert W Archbald failed to finish defense witness examinations in the impeachment case. With proceedings adjourned to January Archbald is expected to take the stand while examining engineer Thomas Ellsworth Davies testified on the Katydidenim dump value noting it was not worth the price asked.
New York December 14 executives of the national progressive party debated organization plans at a late session. National Chairman Dixon said publication of business would wait until tomorrow’s adjournment. George W. Perkins chaired the meeting with most members present. Judge Ben B Lindsey was absent.
Delegates from Dalaka voice strong anger over the delay in finalizing peace terms in London. Allies register vigorous protests as talks drag and deadlines loom, signaling mounting pressure on negotiators to deliver concrete concessions.
Turkish instructions are en route to London, adjournment pushed to Saturday as delegates await orders. The conference shows Balkan friction, fears of external intervention, and Greek capitulations questions amid reports of fresh Turkish terms and Italian diplomacy concerns. Rizo Rangabe arrives with papers for Prime Minister Venizelos.
Tokio December 14 The new cabinet lists Count Taro Katsura as premier and foreign affairs pro tem Itsu Matsu Mure as justice official Komassa Kuro Shibata leads education War is handled by Lieutenant General Yasutsuna Kikoshi while foreign minister will be Count Kate on his return from London Rein Nakashori heads agriculture and commerce and Viscount Kanetakere oversees home affairs Retjiro Wakateaki serves as finance and M. Uete as communications and railroad board president
Washington reports the Literacy Test Immigration bill passed the house and is sent to conference. Senator Lodge moved to accept house amendments. Senate conferees named are Dillingham Lodge and Smith of South Carolina.
Professor Hiram Bingham reports nearly the entire Inca city of Machu Picchu laid bare by the Yale Peruvién expedition. The exploration focused on Machu Picchu on a high plateau, discovered during the Previgues journey, with remains and terraces exposed.
In Peru, a site surrounded by 2,600 foot precipices exposes 100 burial Cates and ruins of baths houses and avenues. Professor Bingham warns the jungle will again cover the ruins unless the government acts to keep the area open.
Denver religious leaders launched a campaign against new fashioned dances after a conference. They denounce the ragging as degenerate and contortion. Supporters defend the dance as proper and fun. The flare followed reports that members of Sacred Heart Aid Society Queen's Daughters and Coed Shepherd Aid Society enjoyed tagging at a social event.
New York December 14. Mining engineer Benedict Crowell testified in federal court that Hawthorne literature overstated ore to promote Canadian mining properties. Crowell said at one site 360000 tons were claimed, but he found only water and 30000 tons at another, with little or no ore visible at several locations.
Notes of appeal in the case of Gyp the Blood Dage Frank Whitey Lewis and Lefty Louie condemned to death for the Herman Rosenthal murder were filed today by their counsel. The filing acts as a stay of execution pending higher court decisions. They were to be executed during the week of January 6.
Richmond December 19 Governor Mann a Democrat refused to help welcome William Jennings Bryan to a luncheon at a business men's club saying etiquette required Bryan to call on the governor first Bryan plans to attend a dinner in Norfolk for Governor-elect Swinny of New York
Washington reports unsatisfactory conditions in Mexico as rebels persist and US efforts push for renewed Mexican government action. Secretary Knox and Ambassador Henry Wilson discussed strengthening border security and protecting American property, including railroads, mines, and plantations, with Wilson to carry reinforced instructions next week.
The Italian Seagra parva society awarded Captain Roald Amundsen the gold medal today in Rome. He then lectured at the College of Rome before King Victor Emmanuel III the Duke of Abruzzi and other distinguished persons.
Reports from across the United States indicate that the sale of Red Cross Christmas seals this season will raise between 400000 and 606000 dollars to aid in the fight against tuberculosis.
Grover W Harrison a Harvard senior files a 177000 suit against Dr Aarrison alleging unfair settlement of his mother s estate. The complaint asserts his father failed to fairly divvy the estate and seeks redress.
Grover Harrison of Harvard sues his father Dr George Harrison in district court alleging widespread deceit and misreporting in the settlement of his mother Guadalupe Perea Harrison’s estate. The amended complaint claims false guardian reports and improper land sales with an initial claim of at least 177000 and exposes numerous exhibits and pages detailing alleged irregularities.
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