Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-12-28
RISE
IN ROCK ISLAND
STATE INQUIRY
Governors of New York Stock
Exchange to Investigate Sud
den Activity Officers of Road
Profess Ignorance of Deal,

Ivy morning journal sDeciat Lehseu NHeI
| New York, Dec. 2T.-The New York
stock exchange has an investigation
on its hands, Common stock Of the
Rock Island rose 81 ia points almost
immediately after the opening today,
then ven more suddenly dropped TO
SO. Thereby hangs a mystery or a
fiasco or something that the govern
ors OF the stock exchange will Try to
sift to the bottom
1t the close today the governors
quickly held a conference and il was
announced that a special Investigation
! had heen instituted Francis l..
flames, CORNER president of the ex-
change: j. T. Atterbury ana Ernest
| Groesbeek were appointed 10 conduct
the inquiry. Conservative members
are much excited over the episode and
| summary punishment OF the Offend
ers Is demanded.
Officers of the Rock Island diSclaim
| any responsibility for the movement
At the office of Daniel q. Reid, who
| with ex-Judge w. II. Moore, is the
acknowledged leader of the Rock ISL
and group. it was said that Mr.. Reid
| ~ i'NiiHRpFRN w
said that he was entertaining a house
party at his country home near here
Judge Moore arrived from Chicago
In the afternoon and affirmed what
| mad been said earlier in the day that
| personally he knew nothing OF the eX-
element until told Of it ON his ar
rival IN New York.
SO much mystery ana confusion SUR
rounds the movement that anythins
like a clear explanation seems almost
impossible at present. In the brici
session of the governors this afternoon
several members who figured in the
buying and selling were called before
the committee but no details regard
Ing the preliminary Investigation were
made public.
Those brokers credited with cNecut-
ing the orders declined to throw any
light on the subject. They will be
called to testify later.
Stories purporting to explain the
situation are numerous and conflict
ing One theory was that an attempt
at manipulation in the stocks had mis-
carried. According to this cXplana
lion heavy buying orders were placed
but, through some oversight, the cor
responding selling orders did not APP
pear. The result was, following out
this theory. that there was compare
lively little stock for sale and brok-
| ers who had charge of buying orders
had to bid the market up4to execute
them. IF such w& the case the orders
were destined to be match orders
the principal subject of the recent in
vestigation instituted by Governor
Hughes.
In the furry today the rest Of the
list, including the active issues, was
, extremely weak. with vague appre-
pension Of another corner
Today's operations in ROCK Island
common totalled approximately 2lS,-
600 shares or more than 20 per cent
of the whole. The stock ~fluctuated
between 40 "a and -, its top price
OF the first half hour, and closed at
81 IL, a net gain OF ! IA points.
An officer OF the First National
bank Of this city, which has intimate
relations with the Rock Island, cX-
pressed the belief tonight that the
whole matter had its inception In buy
ing for European interests who are
| supposed to have been short on the
stock.