Morgan Hints at Bank Reform Agenda in Senate Hearing
The huge senate committee room packed beyond capacity as Morgan and partners face questioning. Ferdinand Pecora guides the session while Morgan defends Morgan and company Drexel and company structure details, deposits, capital, and reserves amid debate over Glass bill implications.
MENTIONED IN THIS ARTICLE
Senate
Morgan
Thomas W. Lamont
Hig Partners
Davis
Townsend
Delaware
Ferdinand Pecora
Committee Aidy
Barkley
Fletcher
Senator Bulkley
Ohio
Senator Costigan
Colorado
Morgan House
New York
Drexel and Company
Phiadelphire
George Whitney
Morgan and Company Defend Practices Before Senate
In a Senate hearing J P Morgan and Co defend policy on deposits and reporting. Morgan says minimum deposits are not accepted and that the bank reports events in detail for five years while reserves are not independently investigated by the New York subsidiaries. A statement lists assets totaling over 250 million dollars including cash government securities and various loans and investments.
MENTIONED IN THIS ARTICLE
Morgan and Company
Drexel and Company
Philadelphia
Lable
J. F. Morgan
Gore
Morgen and Company
Drexel
Whitney
Suére
Adams
Democrat
Colorado
Pecora
Morgan
Partners
Couzens
Glass
Morgan House
Morgan Pub
New York, Mensing House Association
Cospartnora
Alsu
New York
A. P. Morgan and Company
Pe- Cora
Federal Reserve Bank of New York
Reserve Bank
Bulktey
Washington, D. C
Senate Committee
J. P B. Morgan
Lsted
Ful Lowe
U S Grain Exports Gain Over Week Reported
Washington May 2 The weekly U S grain exports totaled 6 000 000 bushels down from 84 000 the prior week and 2 774 000 the year earlier. The balance sheet shows deposits peaking at 562 406 858 with figures for 1928 481 188 648 1925 492 292 666 1930 502 098 014 and 1931 519 403 848.
MENTIONED IN THIS ARTICLE
Washington, D. C
United States
Foreign Exchange
New York
Philadelphia
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N. Flores
Gerdes Teeta Oko
General Motors
Fetienen Fa
Meta Joske Bros. CO
Alama Pare
Kilgore Sales CO
N. St Mary Tail
Diatrumc Straus
Frank Coq
Becora
Reynolds
U.S
Jon
The
Wolff & Marx Co
Wolff & Marx
George Laven Bales
Wolff És Marx
A. OF
Ieasi Murer Nonke
Voxa
W. Ay
Walter Tuning
Tnlan Goimstein
Snorla
Alex Cuayts
Fountain
Eleanon Tetit
ALT Wayer Ruga
Denpeviee
J. W_ SPENCE
Huser Wamseuts Shoes
Fess Kick EN
OTT Buyer Accrsaorien
Egins
Conmiruller
Herman Eh.ocus
C. CG
Witchell
Uredo
Wolf & Marx
Arthur Barbeck
Tackanas
Maty Landrum Guyer
Cursete
M. Summerlin
Cuildeer's
ARE Markis Buyer Basement
Emila Wal
Irving Gamfinale
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