New-York tribune., 1910-02-18
HELD POOL STOCK
CONTINUED from first page.)


buying and selling Of Hooking. just as
there is good deal of buying and SELL
ing of every stock on the exchange"
You will find certain shares of stock
bought and sold.'" said Mr.. Wolf, with
out any name being entered
Every share of stock purchased was
sent within a day or two to Lathrop.
Haskins & Co, and they paid for if,
said Mr.. Kcene. Then the stock so pur-
chased was assigned by me to the differ
ent members of the pool
Counsel tried by repeated questions TO
get Mr.. Keene to admit that stock had
been sold by him for which no name of
purchaser had been put on his books.
Mr. Keene insisted that all sale items
without names were merely deliveries of
stock to Lathrop. Haskins & Co. for
pool account.
"All deliveries were made TO Lathrop,
Haskins &c CO. he explained, but the
sales are recorded without names be-
cause they were made for a short time.
Suppose I bought 5000 shares at Sloo
a share" he went on. Il might hoid
them few days in suspense and then L
might buy 1000 more shares or sell
some We were dealing in a small stock
and had to keep it moving to keep 1t
alive"
Mr.. Keene asked to see the entries
where no names were down, and MT.
Wolf read off number of purchases.
with their dates, aggregatfng 2b,oo
shares. and then turning to the sold
side of the transcript read off sales
amounting to 1920 shares. AS each
item was pointed out Mr. keene an
swered mo to the question whether the
name of the purchaser or Eender ap-
peared. Mr.. Wolf pointed out that these
entries represented an excess purchase
of 1O.1OO shares for which no name was
given.
Why. those items were all cohoeiiseu
by the bookmaker,' said Mr.. keene, anu
everybody in the room laughed, thouen
the witness seemed unaware OF ms shp
of tongue.
These stocks were all purchased IN
the ordinary way he continued MY
bookkeeper has simply condensed the
items by leaving out the names OF the
parties dealt with
Mr.. Wolf told the witness that in the
statement of stocks in Pool NO. L on Jan
nary 10. the date of the collapse, Snort
age of four hundred shares was shown.
Mr.. Keene said he had no recollection or
any shortage
Pool No. / account shows that the
participants received from you 46,'oo
shares. but that 46.3O0 were received by
you, a difference of 400 shares, not ac-
counted for"
II can't answer that question now. but
will let you have an explanation at the
next hearing
CALLS QUESTION MISLEADING.
Mr. Wolf then read some more BOOK
keeping items, and wanted TO know IL
there was any significance in the fact. as
shown by the figures that the pool mem
bers continued to receive from Mr. keene
about double the amount of stock that
he bought.
You are failing to take account of the
items of stock received where no name IS
given, and your question is misleading.
broke in Edmund L. Mooney, Mr.. keene's
counsel.
Pool No / was closed out some time
in the latter part of last April, according
TO Mr.. Keene's best recollection. because
he thought the stock was too high He
testified that because the other partici-
pants were so eager for more of the
stock Pool No. l was extended and he
consented TO re-enter it.
when the pool was reha affiliated 1t
went on under precisely the same agree
ments, did it not?''
Not at all | consented. under tre-
p,endous insstence. to go back into the
pool There was good market. some
shorts and great deal of fever. l made
q new stipulation that L should be en-
tirey free that my stock should be free,
that | could sell it at any time and to
any one | wished.
This went on until June 1. There was
a big market then in the stock. with all
the pool members and their camp fol-
lowers dabbling in the stock. The pool
had 5000 shares, at a cost of 81, to the
best OF my recollection 1 could have
given them a profit OF S25O0OO if L had
had reasonable time in which to close
out.
I thought it was imprudent TO go on;
| told them the stock was too high. But
they insisted
Then you were persuaded against
your better judgment to go on with the
pool?"
L should certainly say it was my bet
ter judgment not to go on"
when the first pool was reformed
what was said about your $500 shares?'
Il didn't have them. / sold them after
the closing Of the pool
Then you had no individual shares
left?"
KEENE CORRECTS HIMSELF.
Il was wrong there. had about LOO
left over
Did you tell the participants in the
reformed pool that you had sold all but
|. 700 shares of your individual hold
ings?"