New-York tribune., 1910-02-15
KEENE ON STAND
ADMITS HE MANAGED
HOOKING POOLS.
Dramatic Scene at First Public
Examination of Stock Mar
ket Operator.

James r. Keene. who has been called
"the gray fox of Wall Street" testified
Yesterday that he kept faith with the
other participants in the pool Of Column
bus and Hooking Coal and Iron stock
the collapse of which recently caused
the failure of three Stock Exchange
houses.
7 still have said he. "a1l the shares
which I was obliged to take up by the
agreement Not a short sale OF any de-
scription. directly or indirectly. did [
ma ke''
The srnallness Of Commissioner Alex
ander's room in the Federal Building
helped TO make the scene Of Mr. keenes
first public examination an unusually
dramatic one Mr. Keene sat on one
side of long heavy oak table with ms
counsel. Solomon Hanford and Edmund
l. Mooney. at either elbow behind nlrn-
He was flanked on either side by report
ers and sketch artists. not TO mention
the court stenogra pher. all OF whom, sit
ting or standing. were scribbllng or
sketcting awav at top speed as the ex-
animation proceeded
Opposite him on the other side or the
able stood Irving l. Ernst, receiver FOR
]. NJ Fiske & Co, one of the firms Wh1ch
failed with the Hooking pool collapse
and Ralph Wolf counsel for the receiver
who was Mr.. Keene's inquisitor- Ihese
two men were jannled up against the
ia BILE by the crowd standing behind. most
OF il on tfptoe TO hear and see the Wit
,L-o almost every
foot of standing room was taken The
chamber was packed 10 suffocatlon' ana
the only one of that tense throng who
seemed in any way remote from the pro-
ceedings was Commissioner Alexander
sitting unconcernedIy on the small of his
back at his desk
kEENE TAKES THE STAND.
The ordeal OF an examination under
these circumstances was not accepted
without a struggle. Mr.. Hanford pre-
.,eded his client into the room and sug-
cested that the proceedings be trans
ferred TO Mr Keene's private Office, where
were the books dealing with the pool
ira nsa ctions The one objection to this
was that Commissioner Alexander would
items which might arise to Mr.. VOLTS
questions AS Mr.. Hanford could not
guarantee that no objections would be
made. Mr. keene. in a fur coat, with the
big collar up around his ears. was
ushered in and took the stand
The witness gave his name. said he
lived at Cedarhurst, Long Island. and
supposed that his business was stocks.
Then. guided by the questions of Mr..
No /. in March. 1909. and of pool No. ,,
last July of both of which he said he
was manager. In both cases written
agreements were drawn up between the
participants and copies of these agree
ments were offered in evidence
Isn't it fact thai pool No. l was
extended by agreement in writing. SO
that it should not expire until March.
1912" asked Mr. Wolf
In a way it was" replied Mr.. Keene.
and in a way it wasn't The pool was
sold out
Mr. Wolf handed the witness the copy
OF the pool No. l agreement. saying:
Il ask you 10 look at it. Is 1t not
fact that the pool was extended so rs TO
expire March l. 1902"
Mr.. Keene examined the agreement
and said that evidently it was. He could
not say whether this clause had been
subscribed to in writing by all the par
ticipants, and when asked If he had not
been subprnaed TO produce their sig
natures replied that he had brought the
only paper he had dealing with the sub
ject
Mr. keene explained a little later that
he sold out pool No. l when the stock
reached SO and that about $254.000 was
divided among the participants
POOL MEMBERS GREED.
When | sold out that pool" said he.
4 thought | made a great stroke. l
made pile Of money but some Of the
Continued third page.