Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-01
DUE TO STOCK "[EAK"
New York Exchange Suspends
One of Its Members.
EXECUTED CLERKS ORDERS
Henry M. Post Denied Floor Privileges
for Six Months.
..r-. --.-
TDYEn
EXECUTED CLERKS ORDERS
TRIED TO SHIELD ANOTHER
The onending Broker Explains Why
He Incurred the Displeasure of the
Governing Committee.

NEW YORK. March 1.-The suspension Of
Henry NJ Post the floor member OF the
stock exchange firm of Post Brothers A.
Co., for a brief period of six months was
announced from the rostrum of the stock
exchange at the opening of business YES
terday morning The brief exclamation was
made that his suspension was because Of a
violation of q ruIe of tho a,ohon,o -, ,,,,o,
tho ,o,orn;r o.,,., -, -
IL. eohiin''.ee haa iouhd MN
sui'y at us protracted meeting on We'd
nesday afternoon.
The rule referred to prohibits members
from, doing h,si,as, o. a,,,.,, -. -,
~ i'i e'hpio9es Va o'hei
I iiieiioeiS WITHOUT the express PERMISSION
OF MS employers. No suspension for this
offense has been ordered for so many years
that no member Of the exchange couia he
g., o-., - "
Aou'iu 9e"teiuaS WIZ remembered similar
case.
The specific charge against Mr.. Post was
that he had allowed two orders each in
volving 100 shares of stock, to go through.
which 1t subsequently developed had been
placed by the clerk of a firm which did
business with Post Brothers & Co. for his
own account. Though Mr.. Post protested
that he did not know until after the orders
had been executed that thev had come
from the clerk Individually, he was held
guilty because he had not notified the firm
or their employees action.
Socracp ;s Eeso,t;o1
40
The necessity Of secrecy in carrying out
the details of a market campaign makes il
of the first inheritance that there eboula bs
- -, ,a..-, 10 -, 20
" vans '."eeh o'io house ann ahot"ei'
trad;na ordars nt oearl, t., annsaan,Ia, 10
1at,ons with bis firm &c Sueiciontl, ob,,ious
m have made tho subiact , matter of CON
stitutional provision 1t had been known for
some time that certain large stock exchange
house Idu peeii suffering rom ieak winch
and The comu,ttao ON ,rra,roar,opts he
spent some weeks in Investigating. Friends
of Broker Post were of the oninion yester-
day that the orders he had admitted taking
from a clerk were the only ones that the
committee had been unable 10 trace hack
to the housp in question and thar he had
therefore been made a scapegoat,
The transactions which involved Mr.
Posts suspension took place i'm January
and were in an active stock in which the
house that has complained of leaks was
oneratinp The orders in the 300 shares
came To the floor Of the exchange so
nromntlv az IN get into the market ahead
Of those of the firm onerating in the stock
In the course of ito Investigation the COM
,,ittoo on arranpapoante eyanoinnd Mr. Post
a,,d Harmed frop, him tbat the ordars he
bad avncuted in that narticuIar stock had
80 taLan inadvartontI,, iron, an onerator
business with Boston. CARRYING their in
nIirv further. the committee found that
this o,,aratnr bad NOT hem actipe for him
saif hut for fe1low-onerator who IL
t,,rnad out was ampIoyad Inv tho hons.
uhinh nd snfserad From the leak It
w.. -, tbat tt,a ,,,ottor uras tal,er M, NV
the povernina committee,
'"O
Mr.. Post Explains.
Mr. Post exnIained Yesterday his part in