WALL STREET AND SECURITY LEAGUE
Wall Street and Security League Congressional Probe Shows Morgan, Rockefeller, Du Pont And Frick Are Large Financial Contributors CONGRESSMEN JAMES A. FREAR and Edward E. Browne of Wisconsin have...
...In his testimony yesterday afternoon, Menken testified that two contributions to the league came from the Du Pont family of powder fame...
...The Childs family, he added, never refused to give...
...P. Morgan & Company, as a firm, had refused to contribute, because they feared some foolish peo-pie might criticise them, but J. Pierpont Morgan personally made the contribution, later...
...Menken said that Mr...
...Congressman Ben Johnson, chairman of the committee, brought out that the Remington and Sargent munitions companies were contributors...
...Some Names Withheld...
...Menken said he was certain that the list of contributors sent to congress by request did not reveal even the suggested sources of the "Friend" funds...
...Taking j up the secret contributions, the | chairman directed attention to | $1,500 from "A Friend," $1,000 from the same anonymous source, $500 under the same name, and others for unnamed amounts...
...All of these had contributed funds openly, Congressman Johnson pointed out...
...ARTHUR CURTIS JAMES______________________$40,000 Multi-millionaire and one of the heads of the Smelters' Trust, known as the American Smelting & Refining Com-, pany, another chief beneficiary by enormous profits due to the war...
...Representative Browne interrupted...
...Bacon's name to the long list of corporation contributors he reluctantly disclosed...
...JACOB H. AND MORTIMER L. SCHIFF__________$3,250 Prominent Wall Street bankers, of the firm of Kuhn, Loeb & Co...
...Did you know that he had been a prominent lobbyist for the sisal hemp interests at Washington...
...Congressman Johnson inquired with sarcash: "And did you think you could cover up these contributions under the name of 'A Friend?'" Mr...
...William K. Vanderbilt, whose family controls the New York Who's Who In Secret Fund of Security League J. P. MORGAN______________________________2,300 Head of J. P. Morgan & Co„ bankers and financial agents of most of the great monopolistic corporations...
...Menken said: "J...
...Vanderbilt a Donor...
...Nicholas F. Brady, chief owner of the Brooklyn Rapid Transit company, contributed $2,500...
...Robert Bacon, director of the United States Steel Corporation, and formerly a member of J. P. Morgan & Co...
...Wall Street and Security League Congressional Probe Shows Morgan, Rockefeller, Du Pont And Frick Are Large Financial Contributors CONGRESSMEN JAMES A. FREAR and Edward E. Browne of Wisconsin have played a big part in the investigation here which has led the National Security league and its purposes into the lair of the Big Interests of Wall street...
...WILLIAM K. VANDERBILT__________Amount Unknown One of the owners of the New York Central lines and allied railroad interests, which have unceasingly opposed all attempts to make -them disgorge the fruits of franchise secured in New York City, as well as opposing all attempts to end the maintenance of "Death Avenue...
...Menken could not say for certain that he had given the right sources and could not explain satisfactorily why the names were concealed, if for a proper purpose...
...H. H. Rogers, son of the Standard Oil organizer, donated $1,000...
...GUILDS AND EVERSLEY CHDLDS_$7,500 William Hamlin Childs' name figured prominently in the investigation of the million-dollar slush fund to re-elect the late John Purroy Mitchel as Mayor of New York...
...Changes Testimony Menken pondered for a moment and then said bluntly: "Herbert Myrick of—of Springfield, Mass...
...JOHN D. ROCKEFELLER______________________$35,000 Head of the Standard Oil Company, one of the bitterest and most consistent defenders, among corporations of monopolistic rights...
...The American Exporters' and Importers' company iave $2,000...
...NICHOLAS F. BRADY_________________________$2,500 Chief owner of the Brooklyn Rapid Transit Company, recently thrown into the hands of a receiver because the authorities refused to permit it to raise car fares...
...Hayden E.-Harris, director of the American and Russian Chamber of Commerce and of many big corporations...
...CHARLES AND JAMES DEERING__________$1,550 Charles Deering is a prominent figure of the notorious International Harvester Company, better known as the Harvester Trust, which has been prosecuted by the Government for violation of the Sherman Anti-Trust act...
...Arthur Curtis James, the smelting millionaire wrote a checn for $40,000, the highest of all contributions...
...Secret Gifts Uncovered...
...Menken finally confessed his inability to recall a single labor man whose name appears on the official roster of the league...
...Colonel Charles E. Lydecker, the present head of the League, held a whispered conference with the witness while he was testifying as to the concealed contributions...
...When the name of Mr...
...Representative Browne persisted...
...H. H. ROGERS_______________________________$1,000 Son of the late Standard Oil organizer...
...But Congressman Johnson, in reviewing this audit, found that the League had requested the auditors to state that no contributions were made by or expected in the interests of munition makers or others financially interested in the declaration of war...
...Charles Deering, of the International Harvester company, and his brother, James, chipped in $1,550...
...HENRY C. FRICK____________________Amount Unknown Multi-millionaire and one of the controllisg factors in the Steel Industry...
...Menken admitted that money has been received from Morgan interests, Rockefeller interests, munition makers and many others who have profited by the war...
...What astonished the committees most about the disclosures was the light it shed on the veractity of the many statements of the League that its financial support rested wholly on its dollar-a-year membership...
...He added Mr...
...When William Jennings Bryan was quoted as branding the League as a paid agent of the munition makers and shipping interests, the League caused an audit to be made of its books which gave it a more or less clean bill of health...
...Menken was unaDle to make a direct or satisfactory reply...
...In explanation of the morgan contribution, Mr...
...The gross yearly membership fees on that basis would have been only half the single Curtis James contribution...
...Chairman Johnson commented: "Then you sent this important list and no one could tell who furnished the money...
...EMERSON MACMILLAN______________________$4,250 One of the leading figures of the American Light and Power Company...
...Browne is a member of the investigating committee and has taken a leading part in the cross examination of members of the league...
...It is to be taken for granted that they did not hunt far...
...And oh, by the way, he added, brightening up, "I would like to add that Charles P. Neil, of Washington, represents labor with us...
...Other League Leaders Among other members of the League's Executive Committee named in the examination were Franklin Remington, who is heavily interested in big corporation stocks...
...W. Stanwood Menken, former president of the league was on the stand the other day and important admissions as to the men who have financed the league and their affiliations were made...
...Menken: "Why did the League ask its auditors to conceal the facts The auditors say they found no record of disbursements made to munition makers and that they have only the j records on which to base a statement of receipts...
...Frear introduced the resolution for the investigation of the league following the attempt of that organization to defeat a number of congressmen in the last election on disloyalty charges...
...T. COLEMAN DU PONT_______________Amount Unknown Head of the du Pont de Nemours Company, the great Munitions Trusi, whose profits through sale of its products to the United States and Allied governments have been prodigious since the beginning of the war...
...James B. Ford, the rubber tire maker, gave $1,000...
...Choate had given about $10,000 personally to the League and had promised to "see some friends and get more" if ever the League needed it...
...Orth was reached Menken identified him as chairman of the League's congressional Committee...
...and Charles D. Orth, a wealthy hemp exporter of this city...
...He was indicted as a result of the investigation, ROBERT BACON __.__________ $5,000 Director of the United States Steel Corporation axd formerly member of the firm of J, P. Morgan & Co...
...Clarence H. Mackay, who sued the government in the cable controversy, sent $5,000...
...Menken said he thought Joseph H. Choate, former ambassador to England, was one of the "friends," that Nicholas F. Brady was another and J. S. Bache, the banker, a third, hut he was not sure...
...John G. Agar, of Westchester County, director of a host of corporations...
...Menken said he had never heard that such was the case...
...The Guggenheim brothers donated $2,750, T. De Witt Cuy-ler, the chairman of the Railroad Executives' committee, sent $2,500...
...The report showed that the auditors refused to do this because they could only consider the written record...
...Jacob H. and Mortimer L. Schiff, bankers, joined in a $3,250 gift...
...The secret contributions were discovered by an audit of the League's books made by the committee...
...The witness got one of the biggest surprises of the whole ordeal he has undergone before the committee when Representative Browne took over the examination and asked him suddenly: "Can you name any representative of labor interests that may be among your officers or on your executive Committee...
...He specified that his contribution was to be used in financing speaking tours by the late Colonel Theodore Roosevelt...
...At the time of its own audit, just before America entered the war, the membership was about 20,-000 on the books...
...The record shows that there was a request made by the League for concealment of certain information...
...Menken explained as he went along that Mr...
...Then can you name us a member of the agricultural interests of the country on your board among your officers...
...CLARENCE H. MACKAY________________________$5,000 Head of the Postal Telegraph & Cable Company, opposed to Government ownership of public utilities, whose suit against the Government over its telegraph and cable lines has just been dismissed...
...Got Munitions Money...
...Railroad, copper, smelting, rubber and mining interests were also liberal givers...
...Central railroad, gave $2,500...
...Emerson MacMillan, of the American Light and Power company, sent $4,250 to finance Colonel Roosevelt's speaking tours...
...I wish to change my testimony in that respect...
...William Hamlin Childs, of slush fund fame, and his cousin, Eversley, made donations of $7,500...
...J. P. Morgan, who is purchasing and fiscal agent for the British government, gave $2,300, the committee learned...
...Henry Clay Frick, the steel magnate, came across with $5,000...
...John R. Delamar, the mine owner, was down for $250...
...Chairman Johnson demanded of Mr...
...Bacon, the steel magnate, had favored the League with a contribution of $5,000 at one time...
Vol. 11 • January 1919 • No. 1
