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Show j MORGAN PARTNER IS A WITNESS 1 Says Big Bankers Should Not i; ' Be Liable to Same Laws -1 as Small Ones. 1 ' Now York, N. Y., Jan. 29. W. H. : Porter, a partner in the firm of J. M P. Morgan & Co., was a witness today 1 ' before the state senate committee, 9 1 which is investigating private banks V ;f with a view to enacting legislation for we their regulation. "He expressed the opinion that firms a I like his should be exempted "because jfl they are not doing business with the 9 class of people the committee desires 9 to protect," 1 "Because dishonest people become M private bankers." he continued, M . "should not make the big bankers J . liable to legislation that would hamper al : the proper conduct of good business. J : Regulation is a difficult problem, but ft' it cannot be done by forcing the prl- 1 vale bnnkers, who accept a minimum ; deposit of $1000 to abide by the same J ; laws as state banks. These banks ! "1: serve a UBeful purpose. They are ( 1 confident to a certain class and they . 1 :" might be given some latitude because J of the fact" ' 1 J Mr, Porter added that J. P. Morgan I ' & Co. accepted no deposits less than 1 $10,000, on which they paid from 2 I ' to 3 per cent. |