, Thursday, Dectrntcr 13, 1312 beet UTTH"-UDRGH continued from dbk 1) by word of mouth or by correspond- -I can't recall any but I think there were some, ne saia. fnrznn said the Arm had han ilert several hundred million dollars .1, nf rorurltlea and In the last ten vears he thousht those securities had nil been handled on a commission Mr. Morpnn thouRht the New Haven 1.1.1 teaiipd securltlen not handled ion ... . . by Morgan & Co. in tne last ten years. ' utr. TTntermyer read from the pa- Dr furnished by Mr. Morgan the nnnai irom ine jviurgan nuuae m- nA Kv the New Haven. Morean & Co. proposed In return for being made sole fiscal agenits for the New Haven . lonfi the New Haven railroad lllirw w - - -- - 90 per cent of the agreed sale price ' ita securities, at a "reasonable rate of Interest and to give the road the benefits of counsel or aavice. 1 The proposal was accepted January 11 1911. bv the Maine Central: De- Mmhff !S. 1910. by the Boston & Mnlne, and December 19, 1910, by the 'vaar York. New Haven & Hartford, the acceptance In each case belni? hv Charles H. Mellen. 'Can you Rlve us from memory a list of other interstate corporations for which you are fiscal agent?" asked Mr. - Untermyer.. it TUnrcnn cnuld remember no -.ho ovmnt the TTnlted States Steel corporation and could not estimate the number. Mr. Morgan said his firm had supplied the committee with data .h.it nnint. . Mr. Untermyer replied that such (intfi included only those corporations with which Morgan & Co, had formal nnmonra Mr. Mnrenn said his firm acted for the American Telephone & Tplpgmph company, ithe Northern fa rilic and the Southern railroad, al thr.ueh it had no agreements with m... v.iwlinrn Pacific Reorganization, Mr. Untermyer took up the North PrcIAc re-organization. "Was that property re-organized umlr a. voting trust?" Mr. Morgan said It was and that he who a member of the voting trust. "Tn that connection he added. "Vi like to present these reports of the voting trustees for the Northern Pa ,.ifii ami the Southern railway." Mr TTntArmver asked if thev were not "arguments by the Voting trustees . i.r.hnif nf their ornod management." Mr. Morgan replied they were the reports of the trustees and Attorney I,indabury Interposed to say they were "accounts of the' stewardship of the voting trustees." "Don't you think that interstate cor nn.otirina should be. entirely free to srll their securities in the open market and not be tied up to one nrm no mat tpr how lust its methods?" asked Mr. Tntarmver. "No, not necessarily,'.' replied Mr. Morgan. ()M)os Soiling in Open Competition Taking ud the Southern railway sit. nation he o...u , JW no objection to directors appointed by himself as a member of a voting trust, entering . into a fiscal argreement with his own firm. Mr. Untermyer -asked -if ", Mr. Morgan did nto think securities of in terstate corporations should be sold in open competition as were United .States bonds. , : "I don't," said Mr. Morgan. lie said there was plenty of compe tition for railroad securities. Mr.- Untermyer asked where there rould be competition between the New Haven road and Morgan & Co. in the sale of New Haven securities; "They may want a great deal more for them than we think tjiey are worth," said Mr. Morgan. n vnn think it would be better for the railroad to be able to offer Its securities to another banking house : Mr. i di not." returned Mr. Mor pan who added that the position of the banking house often had much to do with the stability and success of corporations, "There is another point about It, The members of Beauty of the West lodge. No. 40, ana Venus loage, sso. 1:1 i vax f.. lire hereby notified n'd requested to meet In the Masonic titmnlo Thursday. December 1, nt 8 o'clock p.iin., to arrange for the fnnnmi nt Rrn. Geo. L. Greenlee whirh takes place at the residence Sunday afternoon at s o-ciock. J. A. WITJSON, W. M m. 7.. nOODMAN. Sec 267-2t NOTICE OF SALE OP LAND, he added. "You must remember that U 1 flAI1 II 11 1 1 AB BvlJ anj A . . ' - -" w aiiu wouni VI IH. I always good, and when there Is a "rt- suuiusiuie nscai agent mere la moral strength behind them." Will you -name any Instance of a railroad bond proving bad, where your Irm has had to pay the loss?" asked Mr. Untermyer. Named Entire Steel Board. "I can't remember any case but I know there have been several," said Mr. Morgan. ' , "All of that comes out of the se curity holder?" "Mi nllt nf tha rrv-,r,- , 'But that, evpntlljall v fnma niif nt the security holder. Look over the whole history of the railroad business flnrl Boa if Vntl nan Hnrt rxn kku arh.M tne Danxer nas naa to stand the loss." "Well, I've had a good deal of rail roading" interrupted Morgan with a smiie. 0 Yes, that's why I'm asking you about It," rejoined Mr. Untermyer. 'Mr. Morgan said he could recall no Anaplnl pnu Mr. Untermyer turned to the fiscal arrangement with the United States Kreor cnrnornrinn Did you not name the entire board of directors of the United States Steel corporation? ' asked Mr, Untermyer. "T .hlnl. T .w, ,1 I. "But did not von hand nut a slin c.tvtnlntnar t Vi i namaa?" "If passing- on the board Is naming it x am quite wining to assume an tne reannnRihllirv anfrl Mr Mnraran. 'Hut oidn't vou sav wno snouia go on and who stay off?" persisted the lawyer. "T nnaolhlv Aln Hh lattaf." rpnllcul the financier and a laugh swept out from the crowd. Mr. Mnrarnn Mid he had not rtassed nn nil who went, nn thA hnnrd nf the steel corporation but said no member had ever gone on tne board against his protest. ; Choose Gary as Chairman. TWr ITntomivor anbnrl If Mr Mnrtrnn had not named Judge E. H. Garry, for chairman of the Steel cohporation finance committee when .George W. KerRins rewgned. - i . . "I think so. Its very probable. I don't remember now." "Who fixed the prices at which the various subsidiary companies should go Irito the. organisation?'? asked Mr. Untermyer v ." "I approved the price," said Mr. lnfmn . "But It wnn left 4o vnu tn determine the price at which they should come In?" ,,- 'Ves but I was not always able to ret the rjrlce we wanlted." "Which committee of the steel cor norntion seHacts the banks where its funds shall be deposited." "Thp finnnce pommitttee. "Who selected J. P. Morgan & Com pany? : . . . "Whv. It wan sort or ex-omclo. J p Mnrmn ComDanv then had tlie whole company and Its tunas naiur- ally came to us." - "You thought it would be a profita hie business?" suggested Mr. Unter- mv.r i ' "We did not know then whether it wourd he profitable or not," said Mr Mnfsrnn. "It did not look much like it wnen It went down1 to 8 a share." Mr Mnriran nzreed he had bought all the teel stock he could get hold nf thut ho had never lost connaence in' the steel corporation and that he hart nvpr nrlvlned anv one to sell. He knew of -no. (loolsor syndicates formed to deal in steel stock. Mr. Untermyer took up the sale of large issues of stock. Mr. Morgan said that in some instances stock is sues were underwritten by syndicates formed by his firm. He explained that the personnel of the sales agency gen erally was different. The certificates have been prontaoie to the banks and those who partici pated, have, they not?" asked Unter myer. . '. ' h"Yes, generally." Mr TTntermver asked if there were not many banks In New York not al lowed to participate in tne aiorBii underwriting, "Many don't want to participate. "Mr. Morgan s tnroat Decame nuj h. turner! tn his daughter. Mrs. citorioa nnrl jink fill for a throat tablet. Mrs. Satterlee produced It rrom a handbag) "Do you want a glass of water? asked the lawyer. No thanks," responaea Mr. mor- S8"if you get tired," suggested' Mr. Untermyer, "don't hesitate to say so." I'm not tired," returnea mu uiu- i "Can you tell us of the amount of securities marketed by your firm year by yc&r? Mr. Morgan could not say. He did not believe it would amount to I1.000,- 000,000 a year. Ho agreeo. to iun.i. a statement lo show me amounu "l think its generally over estlgat ed," he remarked. P..m IOV -i A Midsummer Visit From ; Santa Glaus NE Great ? t I'1 C foristmas time somebody (they could never find .out who it wnsl played a Joke uu Santa Claus and tore off all the leaves of the calendar up to Dec. 22, which, as you know. Is only three days before Christmas. It was really midsummer and the weather was very hot, but Santa Claus. who had always gone ' according, to bis onlendflf and hnd never found it wrong believed time must have slipped by him without his realizing It ' Ha hnd heen rather taking bis time In the workshop and had scarcely half enough toys to go around, so he was much worried how to give presents to all his children. A fairv heBrd him talking to himself about his troubles and had a splendid idea. She hurried Into the woods nnu told the other fairies and all the beasts and hlrds and bugs about Santa Claus trouble, asking their belp in the mat ter. ' "1 don't see how we can help much said a little bear cub. "We can't make tovs." 'No." said the fairy, "but you caD be. toys. My plan Is for as to offer to tnkB the nlnces of the toys that Santa Claus needs. We fairies can be dolls. for there are lots of dolls' dresses in Santa's workshop, i know." "Rnlendid!" Santa said. "Just nop aboard my fcleigh, which Is hitched lu the front yard, and we ll be on. So the animals and fairies anu every thing else hopped iuto Santa's great .lelirh. and he. c mblnc to tne seat. clucked to his reindeer ana uuue mem Scott Lumber Co., a Corporation -vs. Tl. H. llrvant. . The undersigned Commissioner hnvtncr h'epn nnnnlnted as such. and directed so to do. by Judgment and order of His Honor H. A. Foushee, entered at the November Term of the SuDerior Court . of Buncombe Countv. North Carolina, for the Plaintiff and against the defendant In the above entitled action, WILL ur.'T.r. at nnhlli. auction nn Mondav January 20, 1913, A. D. at 1J o'clock M., at the Court House in Asnevme, N. C, to the highest and best bidder for .noh th inmta with the appur- tenances described In the Notice and Claim of Lien, and Judgment filed In the above entitled matter, to satisfy tho Judgment In the above entitled aetion; which said, lands are bound ed and more particularly described as follows, to wit: Adjoining lands of Buxton and others: BEGINNING on the Smith Northeast corner In the line of Main Klir...t un,l rmm with Main Street to , where Church Street leaves same, to a stake in said Church Btreet at hi Junction with Main Streets thence with the said Buxton line to the said Smith line; thence East with the said Smith line to the BEGINNING; con nlnln one acre more or less, and helnc the same land conveyed to Wm Kisher by J. E. Rankin, Trustee, by deed dated September IS, 1896, and recorded in Book 97 at page 607, and conveyed by the said Wm. Fisher and wife R. A. Fisher to th said K. M. Bryant by deed dated September 12, 19(1.1 nnd racnrded In Book 111. xt page ia. In the office of the Regis- tor of Deeds of Buncombe county. This the 18th day of December,. A ' v., lix. VONNO L. GUDOER. ' ' ' Coinmissloner, Big Sale DSrummers Samples This lucky buy "on our part enables us to turn a hand some gift to our customers and saves you many dollars on the needed things to wear and v FOR CHRISTMAS GIFTS At Classic Theater. The Classic theater Is presenting . that oomuine to lour vci j iniw - ; - i.. ha i.,,, too nf wholesome enter mane w iini, - ...im-nt Including two excellent it.. a "Htnien mory. luttnuuQ. u,, . ... h ti .1 ffAnlll. nff KinB DUKKUlh 1. ...... a a I - . . . ... r., tnakort: n. masterful dra .i .tnrv hv the famous Thanhous er company, "When Mercy Tempers ... -4 1 ' nnn wMTflrll Qnillllh x JUNUl C, " " " . r. i.. ainrn the Claselo adopted the policy of securing six to eight reels dally and selecting tne u i"u .w-. .ntiM l.it inn caDacity ui mm nnnuinr theater Is taxed dally. No better aavertisement can than a satisfied dally clientiele. which th. cianlc now has In an unlimited ...... Tha nrunnwlg brothers to IIICoVBUtV. ..w - ' day are singing the 'Hoiy uuy. ma" ..ki.k ikn. ! nn'mnrt beautiful song The scenes that acoompany the song il.u,.rlY.ohlv heautlful and im am "'"f' Tomorrow the Clasic offers as one . it. .r.tt.iiil feature nictures a "101 pi,n "On the Firing Line," that Is replete with sensational battle scenes with the confederates as tne vitiu. .1.0 .hnwinv wonderful acting by I little girl. Remarkable norsemansmp Is displayed in this picture or intent .tinn ; ' adv-lt ' x.r.r.t rlva vour boys I T. M. C a n.n.h.r.hin for a Christmas pres . ' 2t W1U Train at Albany. . a. i ..nnfwf Waal. Newark, N. J.i Dec. 18. The New ark International League club today announced the choice of Albany, Oa., for Its training ground The team ...ui i,r. ni.mit tha middle of March. WOMEN'S SHOES, $1.78, worth anywhere in retail stores, $2.50; all in viei leather lace models, hizes ,s 1-Z 4, 4 1-2, 5 1-2, 7 and 8. MEN'S FINE SHOES, $2.50: Finely made, patent leath er "Rlnplier. 1nip Tnodel. "Worth nn'where ilt3.50. In sizes 5, 6, 6 1-2. In both lace and button styles. 50 CENT SHIRTS, 39 CTS: $1 .00 Shirts lor 79 cents. In white, stripes, figures, dots, etc. Made ot madras, percales, etc. Genuine shirt bargains. WOOL OVERSHIRTS, for outdoor wear, and for the man who must work in his sinrt sleeves. JiiXtra good qualitv; $1 shirts for 79 cts; $1:50 shirts for $1.07; $2.00'shirts for $1.48; $2.50 shirts for . . . .$1.98 fci . SWEATERS, Extra quality, $1 sweaters for 79 cts; $ sweaters for $1.49; $2.50 sweaters ior $1.98. LADIES' AND MEN'S HOSE of unusual goodness in , black, tan and colors, for 1; 12 and 19 cents for the 10, 15 and 25 cent grades. UNDERWEAR for men and women; fine quality, good assortment of sizes; 50 cts. Underwear for 39 cts; $1 Underwear for 79cts; $1.50 Underwear for.. ...$1.07 NECK TIES in a bewildering variety of colors, from the solid black, red, etc., up through many combina tions of colors, in both the silk and knit fabrics; -25 npnt tins for 10 cents 50 cent ties for.. .. :.: ...,39c KNIT SHAWLS and Aviation Caps, for 19, 39, 79 cents and $1.07, for the 25, 50c,1 $1 and $1.50 grades. , As stated at first, this is a lucky purchase of drum mers' samples and we arc giving the advantage of our low price to our customers. 'We buy for Cash and Sell for Less. Buv Here for Christmas. Your Money Gets More MUMPOW 17 S. Main St. Asheville, JN. L. Sells for Cash; Sells for Less PHEAS THBIB WINGS AND FLEW OFF. rfVfiATINEE' FV M'VBwr aa a IO&I55 Rriyv- AND 11HEATRE fly over the grouud. But they could not move tha sleigh, for there was bo anow on the cround. Santa Claus did not know what to do, but the fairy de clared that she could fix that difficulty. Kha blew a little whistle, and hun dreds of white wild geese came flying from the sky. Bha tola mem wnut was the matter, and the geese, catch ing the end of a long rope In their tonka, unread their wings ana were off with the sleigh and, Its precious load hearinir It as llchtlV as a readier, n that it hardly touched the ground. R miirnlnu Snnta visited an ine imm and left presents everywhere. He hadn't a single thing left In bis sleigh and thought that he baa acme a very good nlgbt's worn, xne cnu dren when they awoke In the morning and found ' the presents wondered where they -could nave come irom. finma Af the little bears bad cards around their necks,- which read VA Merry Christmas." The children were anrnrifled. but iovously began to play with their strange toys. The little baby bears, who kept their claws curvea in so that they wouldn't scratch, were tha tnnat delightful thlnirs. The Chil dren were very fond of the gifts. The gnomes made spienaia ciown dolls, and some of the fairies were par tlcularly pretty dollies. The birds in the cages sang sweetly, the beetles drilled like armies of real soldienfc and tbe field mice pun on their heads and skipped over each other's tall to the amusement of their small owners, i. In a few days, however, the children began to tire even of these wonderful new toys, and the forest people said It was time to return to their own homes. . ' whan thev reached home they start ed tn to help Santa Clans make toys as fast as they could so that no time would he lost for tho real Christmas. Tho dear old man had by this time fnnnd ha had nado a mistake In the date and tout the children would be expecting their regular call from him at tho usual tlmo. - VAVDEVILLEfAND MOVING, PICTURES ENTIRE PROGRAM CHANGES TODAY. "BOBBY FOUNTION" and bis Educated Pony. The Smartest Pony on Stageland. Three Reels GOOD PICTURES Three Reel,? REUBEN AND THE BOYS." Comedy. .... . . . . . . "THE LASS FROM GLOUCESTER" ; Drama.., Ttim vninr. hv frrvNrsfiTF.NCE" V i4J W WAV W. w w Drama ... ... ' Cines . ... ...Pathe Essenay Frah candies for the Christmas tree and stocking. Large assort ment IS cts a pound and up. It's mire, we make It. we know. Candy Kitchen, Haywood Street. It Conio toi!l,Ut, H. S. BXlnsirelst Today 1 "Stolen Glory" a brilliant comedy. Today II "Wben Mercy Tempers Justice" a'devour ingly absorbing Thanhouser drama. Today HI "Mamma's Boy" a King Baggot sparkl ing comedy. : ;: t ' Today IV "The Promise" a western drama. Today V "HOLY CITY" 'beautiful illustrated. By Brunswig Brothers. Aditional AsheTfille Scenes Tomorrow P M nrvnfiTiiiniislv until 11 P. in. tomorrow the Au ditorium will present four hundred additional feet of Ashe- ville pictures, also the Aslieville pictures preseiueu u mm- " . . .. . . i rl. ,.1.,Ja dreds last night. Additional pictures inciuue me mm. graphing of Hon. W. J. Bryan on to of Sunset mountain,, as lie entered the Auditorium, also hundreds of people who visited the Auditorium yesterday, as the cameraman ground out a living record of the large crowds as they entered. The Ti.-m Mnrclie. showing a number of interesting positions of that thrifty establishment, will be shown tomor row night. A number of street scenes are ueing laxeu to day and will be shown in tomorrow's program. The colored Catholic Hill school was taken yesterday and will be shown tomorrow. Hundreds of new taces will lie seen in me mic ville pictures tomorrow. Four entirely new . reels of other subjects will also be shown, including tne two reei pmum iion, "The Fall ot Troy," the most stupendously spectacii- ar picture in the moving picture era. Tnmnvmw nifflit the cameraman will lihotograph the au dience from the Auditorium stage and develope the film fi.rlit ?n fmnt. f the nndience and it will be shown in Satur day's program at the Auditorium. This is the biggest nov- eltv ever offered in motion pictures in our city anu u is sum to predict that the big Auditorium will be taxed tomorrow night when the audience is photographed. Saturday's pro gram will include the Asheville pictures from start to finish, also four other new reels that have not been shown nt any of the previous performances. xu a aHarHraBnnaHaaaaBaa0HSsnBI r Until Jim, pleaie g tut in tht nutotfi viuh mi It ihttl iqatrriu ana rmaom vina ., ' my new Sttvens. Get the boy who loves the Outdoors a real Rifle forXmas. It helps to make a real man of him. The Stevens Rifles are moderate in price and shoot where you hold them. Perfectly safe. '& h OTTIS GREEN HARDWARE CO , j . 11 West Pack Square. Visit Our Dry Goods Department IT PAYS TO TRADE HERE People's Department Store . . . .95c ....45c .. ..90c . . . .75c 20c .12 l-2c Panama the $1.50 value pay less here . . Panama, the 75c value pay less here.. .. Serges, the $1.25 value pay less here.. .. Serges, the $1.00 value pay less here.. .. 12 o-. Duck, the 25c value pay less here . rifnn rinii- iha tZt value tinv less here Otes Blue Denim, the 15c value pay less here. 12 l-2c Percales, the 12 1-2 value pay less here l-2c Cotton Gingham, the 10c value pay less here .8 l-2c People's Department Store 40 and 42 Patton Ave. Sumner's Former Stand.