New-York tribune., 1910-01-21

eughly acquainted with the fictitious
oess Of the market value of Columbus
and Hooking Coal and Iron, promptly
proceeded TO sell the stock short. since
the danger of corner had passed with
che dissolution of the pool, and it was
this selling which caused the coll
hpee of the stock Another story was
that an officer OF one OF the banking in
stitutions carrying loans on the stock
became aware that such loans were to
- called. and. arguing that a break
would follow. sold the stock short.
TO CLOSE CRISS CONTRACTS.
President Thomas announced from the
rostrum of the Stock Exchange yester-
day morning that all members having
outstanding contracts with Roberts,
Hall & Criss were instructed TO close
them out in the course of the day, un-
der the rule which provides for the pur-
chase or sale of stock at the market as
witnessed transactions This ruling.
which includes contracts in Columbus
and Hooking, means that the floor trad
ers who sold that stock TO Mr.. Criss
on Wednesday were Instructed to buy it
in at the market yesterday. when the
price range was between 30 and %, and
pay for their purchases.
Mr.. Criss stopped buying the stock when
il was around 20. his average price for
the 1900 TO 1900 shares taken by him
having been probably about 40 and the
loss TO his firm on the shares purchased
being thus from 100000 to S150,00o.
Whether or not that loss will be made
good 10 the firm will depend on the ac-
tion OF the other houses alleged to be
parties TO the pool agreement, following
the investigation.
= Secretary Ely OF the exchange said
that the only investigation that had
been conducted into the matter as yet
was by the committee on insolvency. and
that until this committee filed its report
with the governing committee no action
would be taken by that body. He denied
reports that a special meeting of the
governing committee had been held 10
consider the matter. but intimated thai
an investigation would be held in the
near future
Mr.. Criss, according TO an interesting
computation made yesterday, netted a
1900 shares. on the basis Of 50 100
shares commission, which is a sorry con-
frast TO the loss of more than $500, 600
which he is al present carrying.
In contradiction of Mr.. CRISIS asser-
tions a member of one of the firms in
volved said yesterday that one Of his
partners who was on the Stock Ex-
change floor at the time. personally
repudiated the order given by Mr.. Criss
for the purchase of a block of Columbus
and Hooking for account of that firm.
Another Of these brokers said that Mr.
Criss had had an order to buy six hun
dred shares for his firms account, but,
learning of the trouble on the exchange.
one OF the partners rushed over to the
floor and. finding that MY. Criss had
bought three hundred shares, ordered
him to cancel the order for the other
three hundred. 8Ir. Criss agreed. and a
messenger boy, il is understood. has
made an affidavit that he heard him say
it. But" added this broker. If the gov
erning committee wants me to pay for
that three hundred shares III do it."
VISIT TO JAMES r. KEENE.
several quarters paid a visit TO the office
of James r. Keene on Wednesday after
noon and asked Mr. Keene what he was
going 10 do toward stra ightening out the
difficult situation created by the break
In the Columbus and Hooking stock
Mr.. Keene, It's said, demanded: What
are you talking about? / am not a
member Of the pool and don't know any,
thing about it,
Hard words followed. and il is said the
t"o men nearly came to blows, being
separated By clerks of Mr.. Keene.
Walker p. Hall, one of Mr.. CRISES
partners. arrived here from Cincinnati
yesterday morning and with Mr.. Criss
went into conference with members Of
the governing committee and with brolx-
CTS interested in the transactions which
are the subject of dispute
Later in the day the two mon ba6
conference in the Office of Lathrop. Has
kins & Co. with Henry S. Haskins and
Henry :. Leverich. the members of that
firm. The discussion was animated. n1,t
assurances were apparently given to the
partners of Roberts, Hall & Criss. for
one of the other men exclaimed when
the talk had become heated:
See, here, Criss. hold your horses and
everything will come out all right"
Much sympathy is expressed for Mr..
Criss on the exchange. and it is re-
Ported that number of his friends are
subscribing $1,000 each to a fund TO aid
him in his difficulties. The friends of
the board member of a firm which failed
late in 1906 were said to have raised a
large sum to enable MIN to retain his
exchange membership. Mr.. Criss has
been the specialist since last November
The firm Of Roberts, Hall &, Criss is
composed Of Walker p Hall, J. Nevin
Roberts, Hugh F. Criss who is the board
member, and Thomas B. Criss. Its Offices
are at No. 80 Broadway, and it has
Branch in Cincinnati which is in charpe
of Messrs- Hall & Roberts. as resident
partners. The firm is represented on tbe
cotton Exchange by Thomas B. Criss.
IL has no outstanding contracts on that
exchange.
Hugh +. Criss has been a member of
tne New York Stock Exchange since
FEBRUARY %, 1899. He was for several
years associated with Charles Ice An
crews under the firm name Of Andrews