New-York tribune., 1911-03-07
He's About Thirty Years Old, and
Made $4,000 Before Crash
Ended the Pool.
HIS OWN ACCOUNT, HE SAYS
Roman, Examined in Lathrop-
Haskins Case, Insists That He
Was Not Dummy in
Spectators Sales.

sell Yesterday as a Wall Street Specula-
| tor whose transactions, according to his
own story, covered hundreds of shares
of various stocks. while his profits from
| speculation in the stock of the Columbus
& Hooking Coal and Iron Company alone
amounted to about" $4,000 during the
| eight months prior TO the collapse Of the
! Hooking pool, of which Mr. Keene was
the manager.
The story Of the telephone boys
financial transactions was drawn from
William j. Roman. during an examination
in the. bankruptcy proceedings against
Lathrop, Haskins & Co., before Stanley
| W. Dexter, the referee. William S. Nc
CURE, counsel for the trustee for the
creditors of the bankrupt firm, examined
Roman in the light of a statement which
/ he had received from Alfred Loeb & CO.,
stock brokers, showing that the tele
! phone hoy" had had an account with
that firm which was closed on January
| u, 1910 two days after the break in
Hooking stock, showing "a profit for
Roman Of more than $4,000.
Point by point the story had to be
forced from the modest boy" Roman, a
man well past thirty, who appealed to
the referee again and again TO be pro-
tected from disclosing things which he
considered absolutely personal. His pro-
test proved of no avail when Mr.. Nc
CURE told the referee that it seemed
Il strange circumstance to him that
| telephone boy should be able to speculate
on such an extensive scale and that the
possibility had been suggested that
| Romans account with the brokers was
one of Mr. Keene's.
For years Mr. Keene had his bank
account in the name of Labranch. his
secretary, and this man received tele-
graphic messages addressed in his name
and yet destined for Mr.. Keene so why
should il appear improbable that this ac-
count was one Of the employer and not
OF the employer" said Mr.. Mcclure.
New Light on Hooking Sales.
Romans testimony threw not only a
different light on the sales of Hooking
stock on January -, which caused "A
break in the market and the collapse OF
the pool through which three Stock Ex-
change firms failed, but showed the tele-
phone boy" himself in a somewhat diff
ferent position from that in which he
appeared when his name was first men
toned i'm the hearings a year ago. He
testified that he bought Hooking stock
with his own money and for his own ac-
count, but did not mention yesterday
the shares which Mr.. Keene said he had
given to him. In February, 1910. Mr..
Keene testified before Commissioner
Alexander that he bought stocks for "a
great many women and a great many
poor people who could not stand the loss
of a penny, but were glad to get the
profits
He then mentioned Hendricks, bis
bookkeeper. and Roman, his telephone
boy, as the recipients of 800 and 2OD
shares of Hooking, respectively. and said
that they sold out these holdings on
January ~. before the market broke.
In his testimony yesterday Roman adj
mitted that he had sold 200 shares OF
Hooking on the 18th and 40 shares on
January 10. though he would not con
firm the statement of the brokers cred
iting him with the sale of 100 shares on
January II.
'Do vou speculate much in the mar
ket?" asked Mr.. Mcclure.
This is personal question: said
Roman. turning to Mr.. Dexter. do
have to answer it? Do L have to tell
about my own BUSINESS
Mr.. Dexter ruled that he had to do So
and Roman then said that he once had
an account with Alfred Loeb g. Co,
which firm is now known as Roth schild
g. co. Mr.. Mcclure read from the state
ment of the brokers that Roman sold lou
shares of Hooking on January II, 2V
shares on January Is and 40 shares on
January 10.
"On the 18th did you sell any Colum-
bus and Hooking stock he asked.
81 think 42O shares, perhaps 40, was
the answer. II put the order In at ';'
o'clock on account of hearing about the
trouble the night before
;1e referred to conference held in Mr.
', ,eanes office at which the possibilities
of A. collapse OF the Hooking pool had
been discussed. Roman said that he sol
his etnck at around ~. but he could not
recall the prices of particular lots of his
etock saving that he was trading eX-
,o,sivelv and could not recall such par
ticulars.
"your transactions during the eight
months preceding the failure show
r,odt. Of more than SJO.UD.' said Mr.
Mcclure.
81 don't think it was that much,
,ever figured it up" was Romans re-
ioinder. Finally, he said that his profits
Iad heen about $1,000" some of which
, hc said he lost.
l "Did YOU pay anything 10 James X
Koene?" asked Mr.. Mcclure.
"Not a mill. not mill was the EN-
phatic denial.
; "Where did, you put these stocks or
ra,,,or,, ~ 19lo?' asked Mr.. Mcclure.
Il put them right in The safe oi IN!
I, ooice" was Romans answer Il meal
, Mr.. Kcenes Office
or tbo referees ruling he said that M
{ owned 10 shares of Panhandle % o
0 Denver preferred. > Interborough bonds
+ IA shares of Minneapolis IL 81. Loul
e and 200 Hooking Coal. which ne bough
a. oG These stocks. he said repre-
scnted profit of SlSWp and his "hoI
proft was about Sjo.Voo.
e Asked what salary he received iron
| - ...... nnnnn led tn Mr. DcX