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Morgan Bankers Face Questions Over Rail Bond Deal
The hearing on the New Haven bond issue probes Morgan & Co. involvement and whether directors chaired by bankers can contract with themselves. Mr. Rea and Mr. Elliott defend the plan to raise $40–66 million for equipment and road improvements amid market distress. Meyer and other witnesses discuss Boston banks’ role and dividend policies.
MENTIONED IN THIS ARTICLE
Anderson
Morgan Syndicate
J. Pp. Morgan @o
Rea
Macleod
Fix
Eraner
George von L. Meyer
Boston
Mr. Meyer
New England
Howard Elliott
Interstate Commerce Commission
Elliott
Brown
Theodore N. Vail
Portland
Maine Central Directors
H. LaRue Brown
Public Service Commission
Edward D. Robbins
Commission
Robbins
Howard Eliot
The
New Haven
Mr. Elliott
Boston & Maine
Morgan
Mr. Brown
Prouty
Interstate Commission
State House
Samuel Rea
Pennsylvania Railroad
J. P. Morgan & Co
Kuhn, Loeb & Co
Mexico
Mr. Rea
Mr. Anderson
James Speyer
Baltimore & Ohio
J. P. Morgan
Europe