New-York tribune., 1910-01-27
MAY GET SECRETS
TO EXAMINE KEENE.
His Connection 1Cith Hooking
Pool TO Be Gone Into.

AS an outcome of the collapse Of the
Columbus and Hooking Coal and Iron pool
and the three Stock Exchange failures fol-
lowing it the general public is likely TO
stock market pools and learn something
about the methods OF James r. Keene. one
of the most expert OF market nanipulators
Mr.. Keene, 1t is understood. is to be called
as witness in an action begun yesterday
by a market operator. VINO alleges heavy
losses through the repudiation of purchases
made in Columbus and Hooking by Hugh
F. Criss for account of pool members on
the morning Of the crash. Irving L. Ernst,
receiver for the failed firm of ]. NJ Fiske
& Co. also promises to subpoena Keene as
a witness
The plaintiff is Howard NJ. Taylor, of No.
1887 Prospect Place. Brooklyn, secretary
and director of the Wingfeld & Taylor
Company, a wholesale baking concern in
that borough, who places his loss through
the collapse at 81, 500. The defendants are
members Of the Stock Exchange firms of
Albert j. Elias & Co, Day. Adams & Co.,
Rollins Co.. Jewett Brothers, J. NJ.
Fiske & Co. and Lathrop, Haskins & Co.
and it is understood that other houses are
to be added to the list.
In the complaint it is alleged that all the
defendants entered into a pool agreement.
set out in the complaint the text of which
is practically the same as that published In
The Tribune on Tuesday and that the
agreement was in full force and effect
and purchases and sales of Columbus &
Hooking stock were made pursuant to it
for account of the defendants on January
l9, when the stock dropped from s81a to %
WHAT COMPLAINT ALLEGES
1t is further alleged that on that day the
plaintiff through his brokers, A. A. Water
man Co. and James n. Brown & Co.,
sold to Roberts, Hall & Criss, the agents
of the above named defendants on the floor
of the New York Stock Exchange, for the
account of said defendants three hundred
shares of Columbus & Hooking common
stock at $50 a share. one hundred at $50
and one hundred at $40; that the said
agents assigned the purchase of three hun
dred shares at So to J. NJ. Fiske & Co.:
that on the same date the insolvency and
suspension of the latter firm were an
nounced and under the rules Of the Stock
Exchange the three hundred shares were
Immediately resold. yielding s31 a share
for two hundred shares and sS4 a share for
the other hundred shares.
1t is further alleged that Roberts, Hall
& Criss announced their insolvency and
suspension on January 20, and the two hun
dred shares sold to them as agents for
the above named defendants" at SOS for
one hundred shares and $40 for one hun
dred shares were resold. pursuant to the
exchanges rules, at s24 share; that Rob-
erts, Hall & Criss were acting solely as
agents for the defendants, and that the
defendants have each and all of them re-
fused TO receive and pay for said stock so
| purchased on their account by the said
agents, though demand therefor has been
duly made by this plaintiff. to plaintiff 5
damage in the sum Of Sc. 800" Judgment
for that sum, with interest and costs, is
| demanded.
irving L. Ernst receiver for J. NJ. Fiske
& Co, said that soon as the Stock Ex-
! change authorities had completed their
| investigation he would have before him
! James r sKeene and everybody else who
: had anything TO do with the pool
I'VE can go right into the enemy's camp -
| said Mr.. Ernst, "and force them TO give all
! the Information they have on the subject
| and I propose to get at the bottom of the
/ whole matter, irrespective of what the Stock
! Exchange authorities may do. I shall ex-
anime Mr.. Keene and all the members of
the pool and find out Just what are the
facts of the case"
The receiver added that he expected TO
be able to give a full statement of the
assets and liabilities OF J. NJ Fiske & Co
to-day.
The governing committee issued a state-
ment yesterday saying that the sub-com-
mittee on insolvencies had made a report in
the matter Of the failure of ]. NJ Fiske &
Co. and the circumstances surrounding it
and that action would be taken on Febru-
ary 9. The subcommittee report on the