Senator SMITH.
All right.
Mr. FARRELL.
About 10.20 a.m. on Tuesday we published this:
The Marconi office at 27 William Street received word from Cape Race that communication has been had with the Virginian. They do not think that any of Titanic's passengers are aboard. Station at Sable Island has been in communication with Parisian and she has no passengers aboard.
That was received from the Marconi office by one of our reporters whom I sent over there. I do not remember just which one it was, now.
Senator SMITH.
This was after 10 o'clock a.m.?
Mr. FARRELL.
It was approximately 10.20 a.m., I should say; some place around there.
We also at that same time published the following:
CAPE RACE.
Early today a wireless was picked up from steamship Olympic, which confirmed the report that steamer Carpathia, with 866 survivors of Titanic, mostly women and children, is being rushed to New York. The message ends as follows:
"Grave fears are felt for safety of balance of passengers and crew."
I do not identify, for the moment, where that one came from. That is one that I did not have an opportunity to investigate thoroughly. It is innocuous, anyhow.
About 10.30 a.m. on Tuesday we published the following:
Following are among names of second class passengers reported saved.
Then follows another partial list from the list which the White Star office was receiving from the Cunard office. Also we published the following:
Up to 10.30 members of the Astor family had received no word from Col. John Jacob Astor. The Guggenheim family was likewise without news from Benjamin Guggenheim.
At 10.40 a.m. we published this:
Cunard Line received following wireless from captain of Carpathia: "Am proceeding New York, unless otherwise ordered, after having consulted with Mr. Ismay and considering circumstances. With so much ice about, consider New York best. Large number of icebergs and 20 miles field-ice."
Message is broken here.
Another message says:
Titanic struck iceberg Monday. 3 a. m, 41.46 north, 50.14 west. Carpathia picked up many passengers in boats. Will wire further particulars. Proceeding back to New York.
Senator SMITH.
What is the hour of that first message?
Mr. FARRELL.
From the item's time, I should say it was about 10.37 or 10.38.
Senator SMITH.
From whom was that received?
Mr. FARRELL.
The first one was received from the Cunard Line. I had two or three reporters down there all day.
Senator SMITH.
And the second one was received from whom?
Mr. FARRELL.
I think it likely that the second one came from the same place, but I am not positive of that. There may be something on here to show it.
At 10.35 a.m., under the heading "Market," we published the following:
Mercantile Marine 4 1/2s, 65 3/8; off 2 3/8. Mercantile Marine 5s, off 1 1/8; preferred, 20 3/4, off 2 3/8.
So that, you see, the following morning, when the news of the disaster did come out the bonds broke a little over two points; the 4 1/2s and the stock was off a little over two points.
Senator SMITH.
It does not say what the change was in the common stock?
Mr. FARRELL.
No; there was probably no trading in the common stock. However, I can give you the prices on that also for the day.
About 10.50, April 16, we published the following:
Officials of Anchor line dispatched a marconigram to steamship Californian Monday night ordering her to stand by on scene of Titanic disaster until relieved to pick up any survivors who have not already been rescued.
BOSTON.
It was officially announced here at White Star Line local office that a wireless had been received from St. Johns, New Brunswick, stating steamship Virginian was making for that port. It is thought she may have some survivors of Titanic on board.
At the same time a dispatch from Southampton was published, as follows:
SOUTHAMPTON.
It is officially announced Lord and Lady Duff-Gordon were traveling on steamship Titanic incognito as Mr. and Mrs. Morgan.
I have not ascertained definitely where those did come from.
Then at 10.55 a.m. on Tuesday we published an additional list of passengers received from the offices.
At 11.07, approximately, April 16, we published this:
Montreal office of Allan Line received wireless from the Virginian that she and the Parisian reached scene of Titanic collision too late to save any passengers and that former boat resumed her course to Liverpool.
I have not any note on that, as to where it came from. I have not identified the source of that message.
At 11.17 a.m., on Tuesday we published an additional list of passengers saved.
At about 11.32 a.m. we published this:
Representatives of White Star Line discredit the rumor that there was large amount of securities on board Titanic running up to several millions. When boat sailed the White Star people received no word that any securities were aboard, as they usually do when any considerable quantity of stocks or bonds were shipped on any of their boats.
One of our reporters got that from the White Star office.
Senator SMITH.
Do you know the name of his informant?
Mr. FARRELL.
No, I do not. About 11 o'clock Tuesday morning or I should say about 11.40 a.m., we published this:
White Star Line received message saying Charles M. Hayes, president Grand Trunk Railway, is among survivors.
I remember that distinctly, because I handled it myself. We were, of course, trying to find out, as to all these prominent men, whether they were saved or not, and I asked one of the men to call up the Grand Trunk offices in New York, and the Grand Trunk offices said that they had received word from the White Star Line saying that it had advices saying that Mr. Hayes was among the survivors, which subsequently proved false. He was not.
Senator SMITH.
Did you seek to verify that item from any White Star official?
Mr. FARRELL.
We did later, but not at that time.
Senator SMITH.
Before its publication?
Mr. FARRELL.
No. The Grand Trunk office told us they had received advices that Mr. Hayes was saved. Our experience has been that in matters of that sort the railroad officials are usually to be relied upon.
About 11.48 a.m., I should say, on April 16, we published this:
White Star officials say that 318 out of 350 first class passengers on Titanic have been accounted for.
That came from the White Star office.
About 12.25 p.m., April 16, we published this:
According to officials of Cunard Line there is no ground for fear that Carpathia is overloaded because of having picked up 800 Titanic passengers, as vessel can accommodate nearly 2,500 persons, or several hundred more than are now on board.
We got that by inquiry at the Cunard Line, because a rumor had got afloat that the Carpathia might founder on account of her heavy load.
About 12.30 p.m., April 16, we published this:
Vice President Franklin, of International Mercantile Marine, says that White Star Line is holding no information back. Olympic is now standing off Cape Race and is relaying names of passengers on Carpathia to Cape Race.
With regard to that statement, in newspaper circles early that morning there was a general feeling that all the news had not been allowed to get out, and some of the reporters down there went so far as to make it pretty plain to Mr. Franklin that they suspected he was holding something back, and that was the statement he made. Of course, there was a large gathering of reporters there, and this charge was made. I do not know just the details, and I am giving the report of one of my reporters who sent it to me, but he was asked rather pointedly, and he declared positively that he was holding no information back, and he said that he would show them the origin dispatch from Capt. Haddock. Then the reporters went out, and he called them back, and did show them the original dispatch from Capt. Haddock, which conformed with the statement which he had given out regarding it.
Senator SMITH.
Did you have any personal conversation with him about the matter that day?
Mr. FARRELL.
No; I did not. About 1.20 p.m., April 16, we published a general story on the International Mercantile Marine Co. Do you want that read into the record?
Senator SMITH.
What does that refer to?
Mr. FARRELL.
It reads as follows:
MERCANTILE MARINE CO.
International Marine Steamship Co. was one of Morgan's promotions of 10 years ago, following in wake of United States Steel Corporation. Steel came in April, 1901, and the steamship company in October, 1902.
The big billion dollar corporation floated successfully in Wall Street, but International Mercantile Marine, which performs relatively greater public service for relatively less cost, never really floated. Insurance companies and other underwriters had to hold their bonds, which represented real value, and they have always sold on this side of the water for far less than replacement value of the property, to say nothing of good will.
On the other side of the water the capture of White Star Line by American bankers aroused storm of indignation in England, and caused heavy subsidies for Cunard Steamship Co. and rivalry of building of big ships. In a few years all steamship companies suffered an era of low rates and reduced or suspended dividends.
Recently tonnage rates over the world have been much higher, and prosperity and dividends and increased surpluses were in sight.
The record of International Marine seems to be thus far the poverty of low ocean rates or on high ocean rates steamship disaster.
It was figured that company could charge off for 1911 $3,000,000 and raise its surplus account by about a million. The Titanic disaster, with net loss above all insurance of $2,000,000, will set back the surplus to a deficit, but not as far back as deficit of $1,297,354 at the close of 1909.
Senator SMITH.
From whom did you receive that information?
Mr. FARRELL.
That was written by a man who regularly looks after the International Marine Co. I suppose most of it was a matter of record.
Senator SMITH.
In your office?
Mr. FARRELL.
Yes; in the statistical books - the Financial Chronicle and others in our office, and it was simply a bringing together of matters of record.
About l.54 p.m., April 16, we published this:
No word has been received as to the fate of Edgar J. Meyer. vice president Braden Copper Co., who was on the Titanic. He is a brother of Eugene Meyer. Jr., of firm of Eugene Meyer Jr., & Co. Nor has anything been heard as yet from Bradley Cummings, of Stock Exchange firm, Cummings & Marckwald, or from Benjamin Guggenheim, president International Steam Pump Co.
That information was received by our reporters from Eugene Meyer, jr. brother of Edgar J. Meyer, and from some of the Guggenheim family, and from some of the Cummings family.
About 2.07 p.m., April 16, we published this:
Officials of Cunard Line have sent about a dozen messages to Capt. Rostron of the Carpathia, but have been unable to secure any answers, and do not know whether or not the wireless operators have been able to reach the vessel.
It is understood that when Carpathia arrives here Thursday night customs regulations will he waived and ship will not be boarded until a landing is made at the New York pier.
That came from the Cunard offices. Everybody was wondering why they could not get more information about it.
Senator SMITH.
I am glad to have that item appear in the record.
Mr. FARRELL.
About 2.20 p.m., April 16, we published this:
Although White Star Line has received wireless advices that 318 out of the 350 first-cabin passengers hare been saved, the names of only 181 of these have so far been received. The identity of the others is still unknown. The names of the second class passengers have been reported.
That was based on information we got from the White Star offices.
There is an apparent conflict there. We received advices through the White Star Line that 318 of the first-cabin passengers had been saved, but only 181 names were reported. I made inquiries to find out why the rest of them were not reported, and finally they answered that their names had not been received. It occurred to me that possibly only 181 had been saved, inasmuch as we had only that many names.
At 2.26 p.m. we published the following from Washington:
WASHINGTON.
Expressing his horror at reports of Titanic disaster, Chairman Alexander, of House Committee on Merchant Marine, said that if it was shown there were not more than enough lifeboats aboard the ship than to save one-third of passengers immediate steps would be taken to close American ports to all vessels which did not carry sufficient life-saving apparatus to save all on board.
Regarding report that wireless communication with the wrecked vessel and ships which went to her rescue was interrupted by amateurs, Mr. Alexander said a bill would shortly be reported from his committee to regulate radio communication and prevent such interference in future.
That we got from the Washington correspondent.
About 2.55 p.m., on April 16, we published the following:
The Lapland, of Red Star Line, sailing Saturday, will take first and second cabin passengers booked for the Titanic. She will call at Plymouth and Cherbourg and go on to Antwerp.
That does not amount to much.
Senator SMITH.
Where did that come from?
Mr. FARRELL.
It probably came from the Red Star Line in a notice they had sent out. It is inconsequential, anyway.
That is all of Tuesday's record.
Senator SMITH.
Mr. Farrell, will you check up Wednesday's tape and bulletin and come in again at 4 o'clock this afternoon?
Mr. FARRELL.
Yes, sir. I can not do very much checking up, other than what I have already done on Tuesday's and Wednesday's tapes and bulletins, because I would have to have my whole staff around to identify the different items.
Senator SMITH.
You will go as far as you can?
Mr. FARRELL.
Certainly.
Senator SMITH.
I want it all, so far as possible, and I want to go as far as I can with you at this time.
Mr. FARRELL.
Yes, sir.