The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-04-02
AFTER Pepper 4 STEUNBACH
STOCk ENCHlNGE To INOCIRE
INTO kEENE'S RROkERS.
Win AZ Wan street Reforming Itsels the
Iurb Derilnes To Trade In tho IN
listed sssess ChnriS ~d on tine mig IN.
rhanEe-C consolidated Cleans I'm Too.

The business oI reforming practices
Oh the local stock exchanges procssdssi
apace yesterday. The Stock Exchange
-, governors ordered an Investigation Of
tie relation between Mr.. Keene's brokers.
Pepper a Sternbaoh. and the Hooking
vool The Consolidated Exchange went
further in the way Of curbing specialists
rAn the Stock Exchange did on
Wednesday Also the worm turned The
cu-b market. whose wriEglings the Stock
ENrhaHge appointed a committee to in
vcs'igats a year ago. refused to feed on
stuT sent down to il from the big board.
The investigation OF Pepper a Stern
l..rh =as decided upon when there came
uIJ m court testimony relating to some
81 the things that firm did when il had
50 keenc's eccount in Hooking. The
a.,~ruors slinply waited before order
- q fUrms! invest CATION 10 find oui
,u-t how many surprising revelations
would he produced in the course Of the
,o..rt proceedings. On Wednesday when
'h" radical reform rules were enacted
o was proposei to wait until the court
lroceeiinEs were over before beginning
rre formal Investigation. But since then
Members of'the exchange have prots.te
vehement.y that the governors were
l-rmpted to take prompt action.
There are four membars OF the Arm
ward Pepper. Sidney NJ Sternbach
arthur z. Pepper end Joseph Loewi
4 Stock Exchange representation the
srm is exceptionally strong. for all Of
the pertners with the exception OF Mr.
Ioewi are floor members The senior
PARTNER. Edward Pepper has been
member since 1879. end the business Of
tie frm. though coaductsi unostenta-
trlslv. he's hesa much larger than that
~ the average house
Tho gist Of tho che -ze- against the firm
,pTa ont m tho cour; Dro~eedings m the
Fo~kIng case th's week The -ale Of
cs,n shares Of Hooking for account Of
'He firm. though enter-i m the name Of
-kaene the -.hse'IIent eras'ITr 81 the
he NJ nam" the keapinc Of n loosn leaf
'aiger which was altered and the destrtIc-
ton ~ sheets from which an' res INTO the
L~dRer were made Moreover thar.. ~ q
charge a. hei1OI> ~ can be made a Sain.t
member Of the StO'k Ex-aangs a
'lArge moro -"riog- than tho capital
oFonce = -pi''t - conmi-.'Cu~. rhiE
ma, one OF lnors nnoFn'pe-= 81 tho firm,
zen the Hocking pool was invest gated
~ the governors made statements which
d. not conror. with -pr1s or tho state
rvants made Oh On" vI,.Io-s stand.
Ia cas- IN" 80 o.. eaton warrants the
governors la rra!Hrr,aG charges the firm
vii nave unisr ~. riI"- Two wesxs to
-.pmt it, d.tenc" ~ that time. Il j.
-ypccted. the hearings m court will have
f."u concluded and all the testimony h.
,.a'e! before ths governors.
Wide tho stock ENchAng. au'r oritis-s
v"-p busy with the leftover ends ~ the
: p"king scandal the organization which
p ~ the curb market was nightly upset
'- the action Of the Stp x Exchange IN
nping ont ga rhe street stocks kicked
n the big board. The -to'l,- wore tho-a
q. he unlisted department Of tfs Stock
, elngs Thursday was the last day
On the Unlisted department. winch was
. .h-hed in accordance with the recon-
'.rdations ~ the Hughes commission
i..r outcast stocks had TO seek a hons.
where.
DO" four were International Power
\ rfppolitan Stree, Railway and the
,.ruon and preferred shares Of the Fed
o. sugar Company The peOpls inter
'..'d m Federal Sugar made no effort to
d H4-ine-s in it, stocks on the curb. bat
.. spectators. traders or investors
'r.I 70 start international Power and
". roroIuan The curb rebel!sd
We've -; memories nut hr-a ~ the.
..r air. said one at the prominent curb
.sa.-. and We remember NH"n Power
10 80 100 ono day and I21 the next.
..r r dropped ia points IN l-,s than a
o. ..'. when Joe Hoadley. Juospn, Joe
u. ."r and the Thomases. o r and r.
I got wrangiing about IL and all the
o 'urle'y that the stock had then and has
b : since
Also wee informed about Metro
Iran We know IL s7ld 1T -, few
D.. % go and that it's selling az about
. -day and may he cheap at half the
r-.- We know a lot Of things that have
B. -"1@f IN Metropolitan. The AIR nut
en- the curb may not be exactly pure.
p . r- don't want IL tainted any more
~ brokers called attention Co the
Instance that international Power
rsely related to New York Trans
Ton stocS. VII IN Joe Aids and some
r fellows IN tho House OF Commons
2. 'rs. On sccouat % all this z. 5
N-.4-.s the leader ~ the curb o-unixA-
rromulEa'ed ne~ rules before the
& bob = me narK-i One Of them forbade
t,a0g m any and al stocks that may DO
. ."d from The unlisted department Of
.- >"w Nors Stock Exchange These
The ride Continued. cannot bs
'rinntt r.l IIEr curb lists unless they
.. rnmp - with tho rules and regu-
' 20 - ne New YORK curb market
Nendel- md his associates later
T'' bit i.la- In the notice con
p 'h"'- -rfa' rider they specified
-a' atdittn .u- other requirements
-f.siUHI .,. There will bs ~
I.' dire ctOrs with their
-..- and 70 individual reference for
/ h.-p 'l"r- vas demanded a sworn
..f II financial condition. In
' ...l Ppa"r ~ an industrial stock 4,