Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-01-14
Simeon B. Chaplin Is Suspend
ed for Sixty Days and F.
countiSs for Thirty for Sc
sationaI Furry
EXTRACTION is NOT
REGARDED SERIOUSLY
Name of D. G. Reid Figures in
Case = chastised Members
Belong to a Powerful Wall
Street Firm
fBv A,sooiated pre.s.y

icy ASSOCIATED EleSs.J
NEW YORK. Jan. E.-lmportant
changes are said to be pending in the
Rock Island company and its affiliated
properties. These changes are said to in-
volve the taking over of Darrell G. Reds
holdings of Rock Island. Judge William
H. Moore is reported to be conducting
these negotiations in behalf OF proni-
nent bankers and foreign financiers.
: These negotiations. 1t is ssid win give :
Judge Moore control of the proposed new
interests.
In announcing the suspension OF ;, r.
Chaplin on account of the Rock Island
affair the governors of the stock ax-
change today said:
THE firm and members thereof should
have known that execution CT an order
in such a manner could serve no proper
or legitimate purpose; thar 1t would cause
panic, confusion and loss and deprive tbs
quotations of transactions from the ex-
change of their value as standards OF
the real market value of securlties."
WALKER is PRESIDENT
Robert Walker, former counsel
the Rock Island company, has
been made president of the com.
pany TO succeed Richard A. Jackson !
resigned. He will assume all OF Mr.:
Jacksons duties. He also VIII succeed
Daniel C.. Reid as chairman of the execui
tive committee of the Chicago, Rock
Island and Pacific Railroad company
Mr. Jackson's sudden. resignation was J
rumored to be due to differences with Mr-
Reid over personal business arrange
ments. These relations are reported IL
have some connection with the stock ex-
change transactions.
Mr. Reid will remain a director The
elevation of Mr.. Walker coincident with
the suspension OF the stock exchauge
members onHaceosmt of the Rock lsssnaS
episode is taken to mean that William /
Fl. Moore will have more active direction
of Rock Islands AFFAIRS.
Judge Moore said today that reports Of
a disagreement between himself and
Daniel G. Reid we're unfounded.
TWO MEMBERS SUSPENDED.
Simeon s. Chaplin, head of tha
New , York and Chicago firm
s. B. Chaplin &. Co., was suspen
ed from the privileges of the New YoT5
Stock exchange yesterday for perIv'
of so days for particlpalior--iu-~t the Rot
Island fiasco of December q last. vi
alleged lu-managed manipulation SCI
the common shares OF the Rock Islan
company from so to 81 and back again
a period of u minutes. r. d. Counti8
one of Mr.. Chapin's partners and the on1
other. board member of the firm, wa
suspended at the same time for 80 days.
Notwithstanding all the recent runor3
concerning the Rock Island deal, invoN-
ing the name of Daniel G. Reid, chat
man of the board of directors of the Rock /
Island company, Tor whcrns IL is said,
Chaplin & Co. expected their buying or
ders, the verdict of the stock exchange
governors indicates that the infractions
of the suspended members were not re-
garded very seriously.
NO OTHER FIRMS sUsPENDIR.
They were found guilty as ammo e.
of .'acts detrimental to the Welt
the~exchange," for which the exa
ton of the exchange prescribes s
sion of not more than one year. CJisV
trary to. general expectations, no otheTy
members OF the exchange are TO be pun !
ished, though it is known that the in
vestigation of the special committee APP
pointed by the governors brought out
facts supposed to have involved several
other firms,
The sessions of the investigating com
mittee were executive and the Inside
of the entire transaction is thus kel
from the general public. AS Wall sire
mas audlyLeQ the fc4tu<kt3OAs NV CAs
T. Chaplin & Co. acted for Mr. Reid o
others in the purchase of Rock Islam
stock, while 1ooked-for selling orde
was not forthcoming. thus nipping an in
tended match sale which would hay
threatened a corner.
A POWERFUL FIRM.
The firm of S. B. Chaplin & Co. was
organized in the latter part of 1901. lTheirl
main offices are in Chicago and their con-
nections have always been of a powerful
and profitable character. They Hcceed
ed to much of the business of arrid
Gates & Co.. when that firm bolvq
several years ago.
In addition to Messrs ChapiIR
Countiss, the other members are TrA
Turner, William L. EwaId, Ira j.
and Oliver p Cooke. - firms cl
is largely from the W and
connections have made pfsf
the list of commission houses.