New-York tribune., 1903-02-25

The governing committee Of the Newly ork
Stock Exchange at o'clock last night, after a
trial which had lasted continuously for five and
one-half hours, sustained charges which had been
brought against Camille wedenfeld by William
Mcclure, secretary of the exchange, relating TO
Mr. Weidenfelds alleged connection with the
Peter Power" litigation against the Northern
Pacific Railway Company, and inflicted upon the
defendant the heaviest penalty, short of expui-
sion, which the constitution OF the exchange
provides The finding of the committee was
announced by Mr.. Mcclure, secretary. in
these words:
Charges and specifications were made against
Mr. Weidenfeld for acts detrimental to the wei
fare and interests OF the exchange, and by
unanimous vote Of the committee he found
guilty and suspended for one year, from this
date"
AS soon as the action of the committee had
been announced CO lnsel for Mr.. Wedenfeld
served upon Mr.. Mcclure a complaint in
action brought in the Supreme Court. Nassau
County, for 100000 damages.
The trial. which the longest in the his
tory Of the exchange for the last twenty years,
began at $50 o'clock in the afternoon. From
that hour until about 7:45 Mr.. Weidenfeld
on the witness stand, "a half dozen Of the forty
members of the governing committee acting by
turns as examiners. Then the secretary, Mr..
Mcclure, was briefly examined. and after him
came three witnesses VINO were present to testify
in behalf of Mr. WeidenfeId-M. H. Boutelle, of
Minneapolis, who on the stand for fifteen
minutes; Herbert II. Linaburger, of Hoadly,
Lauterbach & Johnson, whose examination
lasted less than ten minutes; Parker c. Chand-
Ier of Boston, whose testimony also was given
within ten minutes. Ali three were examined
by Mr.. Weidenfeld, who. in accordance with the
constitution Of the exchange. was not repre-
sented by counsel.
1t was $50 o'clock when Mr.. Weidenfeld left
the trial room, and it took the committee only
five minutes more to reach their decision.
STATEMENT BY WEIDENFELD'S COUNSEL
After their finding had been announced by the
secretary Mr. Limburger made the following
statement in behalf of Mr. Weidenfeld, MS
client:
I'VE had information beforehand that TINS
proceeding would take this course. irrespective
of any evidence that might be produced. and We
knew beforehand that evidence would be
produced. l have accordingly served Mr.. Nc
Clure with a copy of a complaint, that the
matter may be brought for adjudication in the
courts. The action has been brought in Nassau
County where Mr.. Weidenfeld resides, so that
speedy trial may be had. Mr. Weidenfeld does
not propose to stop here. but will take the mat
ter through the courts to the very bitter end
We intend to bring other proceedings, outside
when called witness, testified that he had
no knowledge. The charges were preferred by
Mr.. Mcclure and Mr.. Weiderfeld filed
swer denying them. We propose, also, to bring
other actions against the who may be be-
hind Mr.. Mcclure.
Mr.. Weidenfeld appeared before the law COM
mittee last September or October and was exam
inec, but, far have been able to learn.
nothing done. We demanded copy of any
made but were refused. We demanded an ad-
journment account of the absence of two Of
our witnesses, Captain Stern and A. w. Buck
lev but it was refused. We demanded also a
copy of the minutes of the exchange, so that
we might know who hack of this case; but
this, too was refused US until 1:30 o'clock this
afternoon, too late ID be of use to US
THE CHARGES SUMMARIZED.
The charges preferred against Mr.. Weden-
field are summarized as follows in his complaint
in the action which he has brought against Mr..
NJ e"lure:
Second-on or about January IA. 1908 the
defendant in writing published and charged
the plaintiff with having entered INTO COM
| bination or conspiracy with one George Alfred
Lamb and one more other persons % TO NeH
| and harass by means of legal proceedings. the
| persons VINO were interested in bringing about
! on January l. f9Ge. the retirement of the whole
| Of the outstanding preferred stock OF Inc
! Northern Pacific Railway Company, ana inter
| ested in having the corporation known as the
! Northern Securities Company acquire more than
| = majority of the common stock OF the
| Northern Pacific Railway Company and of
! the preferred stock of the Great North
| ern Railway Company: and (2) to hinder
! and delay the retirement of the preferred stock
| Of the Northern Pacific Railway Company:
and C}) to hinder. delay and prevent the acquisi-
fion of the said stocks above mentioned by the
! Northern Securities Company, and t4D TO have
| declared such acquisition to he Illegal and de-
1 fendant further charged and published that the
/ int combination
spiracv not for the purpose of protecting an
interest which he or his alleged confederates had
in the securities Of any OF the safd companies,
| lmt Tor The purpose of extorting sums Of money
| or other valuable considerations as condltlon
! Of Withholding disccntlnulng ms opposition
is ..haMking., of mmCms.