The sun., 1910-02-15
WERETOO GREEDY, ,SAYSKEENE
CLEANED UP $4,000 IN TEE
FIRST HOOKING POOL.

at the Bust Up--He Sold Meme shert.
James r. Keene, manager Of the Column
bus and Hooking Coal and Iron pool
which collapsed last month and noorcd
three New York Stock Exchange houses.
testified yesterday afternoon before
United States Commissioner Alsxsudsr
In the bankruptcy case OF J. NJ. Fiake
Il Co. one OF the three firms. and declared
that the collapse was due entirely 70
the greed Of members Of the first pool.
who had cleaned up s2so.Ooo and thousks
they could repeat the frst perfcrmanos
with better results. even though ths prics
Of the stock did not warrant it.
Mr.. Keene had declared before he won't
on the witness stand lthat he would tsii
all he knew about the business Of tho
two pools even IL he had to cross-sxamins
Ralph Wolf. counsel for Receiver Ern2t
Of the Fiske firm. to do 1t. AThs questions
put 10 him didn't givsfhimythe oppor-
tunity TO say what he wanted. 90 no vol
unteered the remark about greedinsus
OF the pool members. Even after the
examination had been concluded and
his lawyers. Solomon Hanford and I'd
mund J.. Mooney. were tuRRink at his
sleeve and urging him to come away.
Mr.. Keene Remained behind insisting
that he had warned the members Of the
first pool that they ought to be satis6sd
with what they had made rather thaa
form another pool.
The members Of The first pool besidss
Mr.. Keene were: Newburger, Hender-
son Loeb, J. NJ. Fiske d Co., klaxkos
4 Morrison. LAthrop. Haskins a Co.
Rollins 4 Co. dor Lathrop. Haslins n
Co... Day. Adams 4 Co., Jewett Bros
and A. G. Elias 4 Co. OF these only
the Lathrop and Fiske firms remained
in the second pool. being formed by At-
wood Violet a Co.. Wagner. Dickefson
Co.. Bishop, Laimbeer a Co.. Tuukur.
Anthony a 90. and Van Schaich 4 o..
the last two for account Of Lathrop, Has
kins a Co.
Mr.. Keene said that he had an ofios
and that his business was stocks, suf>s
pose. and speculation He was tae
manager OF the two Hooking pools. No
said. the first being formed In MarcH.
1909.
Mr.. Keene said he had brought ths
pool agreement OF the first with him.
and his counsel handed over paper dasul
March 1, 1909. Mr.. Keene said be diAn,x
think all the firms were In until Tie 2fn
of- -thAt- -nasash.
Then was this pool subsequently, ex+
tended to March. lsi0p"
Il can't say whether the old pool was
extended or a new pool formed know
the first was all sold out at one time.
I can't tell how 1t was oontinueds
Wasn't it extended by writing 90
March I. 1907 ...s
IN way il was and in way IL WASN'T
The pool was sold out, but II you haxa
the extension in writing l suppose u 4
all right
Fiske a Co.. under date Of July "a; 1900.
relating to the terms Of the second pool,
and identified his signature.
Did Fiske 4 Co. accept the provisiou>s
OF the second pool arrangement?v
Il suppose so; they took stock bosight
under it, l don't recollect whether the
agreement was oral or verbal, but We
undoubtedly treated them as a menbcr
Of the pool"
prior to the formation Of the first
pool did you own any Columhcs and
Hooking Iron stockS"
Il did: had Z. eco shares. had owned
II for two years before the pool was
formed"
After the pool was formed what did
you do with it2"
After the pool was sold out cold cut
the stock"
Il asked what you did with IL after tho
pool was formed"
Didn't do anything with it,"
How and when was your stock dis
posed OFF,
Il sold il in the last Of April or the frst
OF May, 1909, through Stock Exchange
houses
Are you able to give the names OF ths
houses?"
"Yes. but would rather not
How soon can you give US a tabulAted
statement Of all these transactionsf-
I'm a day or 30. There is good deal
OF work in my office.' n
Mr.. Keene said that the frst pool was
to take 10000 shares and the second
pool a like number. He said he didn't
know how many shares each pool really
had without examining HIS accounts
who gave the orders TO sellf-
Il gave a good many; Haslrins 9zwe
some"
Mr. Ksene said that pools and nsvsr
acquired their full quota Of stock. nuk
he couldn't tell the amount OF each with-
out the books. The second pool ka&
49, 900 shares In the last week.
$50 the highest number was At the tinss
OF the collapss1'