Morgan defends competition and denies money trust control
In a marathon questioning, J P Morgan denied seeking control or power over industry, saying he favors cooperation and that competition exists. He challenged Untermyer's interlocking directorate theory, argued boards vary, and that actual power requires direct control. He defended private banks handling huge interstate securities while rejecting open market competition for them.
MENTIONED IN THIS ARTICLE
Mr. Untermyer
Money Trust
Morgan
D “You
Baker
George F. Baker
Mr. Morgan
Usury Law Not Affected By Speculation Says Morgan
Mr Untermyer questioned whether US banks funding speculation would drop if funds from country banks stayed local. Mr Morgan replied that even with Europe’s gold and a high interest rate a usury law could not stop speculation.
MENTIONED IN THIS ARTICLE
Maine Central
Boston & Maine
New York, New Haven & Hartford
Charles S. Mellen
Mr. Untermyer
Morgan
United States Steel Corporation
New York
Europe
Mr. Morgan
Morgan on Short Selling as a Life Principle
Mr Morgen argues quotations on the New York Stock Exchange reflect real trades yet knows little about facts. He doubts manipulation while acknowledging its illegitimacy. He notes exchange sales may far exceed outstanding securities and admits enforcement would be hard. He dislikes short selling though concedes its practical necessity, likening it to selling what one does not own.
MENTIONED IN THIS ARTICLE
United States
Mr. Morgan
New York
H. D. Satterlee
J. P. Morgan, Jr
Morgan Party
R. A. Lindabury
Joseph H. Choate
Delancey Nicoll
John C. Spooner
Samuel Untermyer
Mr. Untermyer
Morgan
New York Central
Untermyer
Morgen
New York Stock Exchange
For Young or Old Cough or Cold Red Cross Ad
Advt notes Red Cross cough drops available for five cents per box, promoting relief for both young and old.
Also Mentioned on This Page
Christendom
Tatermyer
J. P. Morgan & Co
Counsel
Central
N. H
Steel Corporation
Morgan & Co
Michigan Central
Lake Shore
Cleveland
Cincinnati
Chicago
St. Louis
Equitable Life CO
Equitable Life Assurance. Society
Mr. Ryan
Harriman
James Stillman
Ryan
Southern Railway
New Haven Securities
U. S. Steel Corporation
The
E. H. Gary
Steel Corporation Finance Committee
George W. Perkins
Mrs. Satterlee
Premp
ReVakie
Jempiete
Eia
Prunes Gisraize Va. Ld
RinceMeat
Crown Seenee LD
Ickage
Jone
Campbell’s Soups
Perth
Crewberries Care
Arabia
ISCO
Formosa
Aden
Stoner
Sherry
Hunter Rye O
Gordon Dry
Booth
Tom
Leeds
Ubiein
Ud Ds
GinterCc Union
Tremont St
Frances Vine
W.l.bouglas
Sshoes
W. L. Douglas
Brockton
Mass
Douglas
Utio
W.L. Douglas
Brockton, Maas
Boston
Washington St
Essex St
Summer St
Cor
Lincoln St
Court Street
Howard Street
Hanover Street
A.shuman & Co
Shuman
Cobb Hersey CO
Dewey Sq
New England
Myer Abrams & Co
Portland
North Sta
Irness Shop
Vermont
Grand Trunk Railway System
Montreal
Quebec
Central Vermont
E. H. Boynton
N. FE
Casey
Houghton & Dutton’s
Mas Suggestions
Paine
Jardinieres
Morris
Daghestans
Paine Furniture Company
Canal Street
North Station
Haymarket Square
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!