PROFITS FROM WAR
INQUIKY IN AMERICA
RANKERS TO BE CALLED
WASHINGTON', Dec. 14
Senator Nye created a sensation in the arms controversy to-day when he declared that ho intended to investigate not only the manufacturers of war gear, but those linaneing them. It is expected that he will call members of the Morgan firm and, probably, Mr. Morgan himself. It. is recalled that Mr. Morgan did considerable financing for the Allied Governments during the war. Observers see the committee findings taking an entirely new''.line if bankers are culled.
To-day's hearing developed' into several sharp cjeshes between Mr. Dupont and the committee's counsel, who made a charge that, his firm made 39,231 per cent, profit iiom its powder plant project in 1917-18. Ho also alleged that the Government built the. plant at a cost of over £17.000,000. and that the Duponts invested but £IOOO and reaped almost £40G,000 profits. Mr. Dupont insisted, however, that, after taxes and other charges had been deducted, the profits were only £56,000.'
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18582, 17 December 1934, Page 5
Word Count
166PROFITS FROM WAR Poverty Bay Herald, Volume LXI, Issue 18582, 17 December 1934, Page 5
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