Business & Finance: Morgan Finale

Last week swart Inquisitor Ferdinand Pecora of the Senate Banking & Currency Committee wound up his efforts to pin scandal on J. P. Morgan & Co. by trying to prove that its partners had been evading income taxes (see p. 13). Not content to let the inquiry end upon this note, the House of Morgan countered by making two statements. First was a memorandum submitted by John P. Morgan answering Mr. Pccora's criticisms:

1) That he and his partners had paid $51,000,000 in income taxes from 1917 to 1929 — $11,000,000 in the...

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