Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-05-30
Result Of Grand Jury lnvestlga-
ton of Leak in the Cotton
Crop Satisfies Report.
SEEMINGLY ANTICIPATED 1T.
Says an Indictment While Disagree
able, Is an Accusation and Not
proor--Fccls Confident of Issue.

New YORK, May % lllt'u'l' -
Price. at one time known as the cot
ton king" because of his tremendous
trades in the staple, and more recently
president of the Eaglu Firc insurance
company. was Indicted today by the
federal grand jury. after "a long investi-
cation of a startling leak of cotton
crop statistics contained in a gov
eminent report which mad not been
made public. The grand jury found
two indictments against Price, one
charging conspiracy to commit an Of
tense against the United states, and
the other bribery of government Of
fetal Three other persons are indicted
with Price. and WARRANTS have been is
sued for their arrest ms they are out
of the jurisdiction of the federal court
OF this district
With the handing down of the indict-
ments Mr.. Price. who had apparently
anticipated the action taken against
him. appeared nj the federal building
and surrendered himself He was ar
raigned before Judge Hough and plead
ed not guilty Bail was fixed at $',OOo,
which was furnished, and Mr. Price
was released after the court had set
June 10 as the date for the prelmin-
airy hearing.
Mr., Price i'm II statement made pub
lie after his arraignment, asserted that
he was entirely innocent of the CharS
es The statement follows:
MIR. Theodore Price said that while
an indictment was OF course an eN-
c4edingly disagree cable experience TO
undergo, it was an accusation and not
a proof and he is aware that the gov
eminent has considered IL necessary TO
take this action before the matter be-
came outlawed on June 3 or there
abouts. He feels no doubt whatever
of the issue
THE original cotton leak charges
made somethree years ago were based
on the statement of Van Ripper, the
bucket shop operator and self-con-
fessed participant and beneficiary
with others of the alleged cotton leak
ana who conducted his accounts with
Messrs Hubbard Brothers 81 Co, aud
not with Mr.. Price.
'Mr. Price says that when the cot
ton leak case first became public he
emphotically asserted his innocence of
the charges made in the indictment
or of kindred offense and he now re-
peats his statement. which he trusts
his friends viii accept pending de-
cison Of the issue"
While Mr.. Prices career has lacked
tlit btliSdtlblldl features which marked
Mr.. Suliey's brief tenure of the "cot
ton throne he has been generally con-
sidered the most prominent operator
IN the New York cotton market since
the days of John Inman. He first at
tracted international attention as
member of the firm of Price, MacCor-
mick q CO., which failed Dec "a,
1900. The firm failed for about $tS,-
100000, but Mr. Price at once set about
rehabilltating his fortunes and sue
ceeded so well that during the past
three or four years he has paid off his
individual portion of the firms remain
ing indebtedness, amounting to over
Sl.OOO,OOO, regardless of the fact that
the claims had been through bank
auptcy' and, moreover, had been out
lAWed. 1t Is said that no one in the
cotton business has ever spent so much
Time and money in securing informa-
ton from the south concerning the
progress of the crops during the grow
ing season and the attitude of inter-
Tor holders During his career he has
conducted many successful campaigns
IN cotton and at times he has been
credited with very large winnings.
INDICTED IN WASHINGTON.
Washington. May 29.-Theodore H.
Price, Moses Haas and Frederick A
Peckham, all Of New York. and Edwin
;. Holmes, Jr, former assistant stat
istican OF the department OF aRricul-
ture, We're today indicted by the grand
jury of the supreme court of the Dis-
tflct OF Columbia on the charge of con-
spIacy growing out of the cotton
scandal OF 1905.
The indictments charge Price with
conspirng with the other three men
10 furnish advance information con-
corning cotton reports. The three