The Sentinel=record., 1912-12-12
NEW YORK BANKERS HELD IN WASHINGTON DURING PER
 IoD OF STOCK FLUCTUATloN.
DEMAND IMMEDIATE HEARING
In Money Trust investigation So They Can Return to Business Untermeyer Says They Must
 Await Their Regular Turn.

Washington, Dec. 11.-An irate group of New York bankers and brok- CTS slEounded Samuel Untermyer, counsel for the banking and currency committee of the house, when the committee adjourned it's money trust" hearing late today and de- manded that they be either excused or placed on the stand at once. The New York men have been in Wash ington since Monday and they were told tonight by Mir. Untermyer that they would have to await their turns for examination. In the group wait ing to testify were Rudolph A. Kep- pier. former pesident and member of the law committee of the New York stock exchange; Geo. " Ely, secre- taTy of the Exchange; Frank Sturgis and John G. Milburn, of counsel for the exchange and John Aspegen. president of the New York Produce Exchange.
 There men declared that business and personal matters of great imprt- ance demanded their presence in New York. and objected strenuousiy to being held while Untermyer de veloped his line of examination.
 MT. Untermyer insisted that he had told each witness as nearly as pos sible when he would be called and had asked them to arrange the mat ter.
 A start will be made tomorrow. -on this list of witnesses following the beginning today of the investigation of the operations of the New York Stck exchange. Two specific incl dents furnished the basis for the days examination, after general sta tistics showing details of operations in fourteen leading stock exchange securities during the past seven years had been placed in the record. The withholding of vast amounts Of cop per metal from the market during 1907 was discue sed in connection with stock market transactions in Amalgamated Copper stock by To bias Wolfson, assistant manager Of the United Metals Selling company and The Rocking pool of 1907. was discussed by Perley Morse, a public accountant, who went over the books of the company's engaged in the pool
 Mir. Wolfson testified that during the months from April to October, 1907 his company, of which H. H. Rogers and Vim. Rockefeller were members, accumulated vast hold ings of copper metal. The market price, he said was 25 cents pound but the sales during that time amount ed to only about 9350G0 pounds as against f1362 ,000 pounds in March of at year.
 MT. Wolfson said that his company held the metal, because, to have sold it, would have forced the price down and embarrassed the producing com. panies for which he said the United Metals Selling company advanced money on the metal to the companies who wished to sell through it. His company, he added, was finally fore ed to dump the metal on the market in october of that year when the price dropped to 13 cents. In that month the United Selling company sold 93,000,G00 pounds of metal.
 During all this time the price ot Amalgamated Copper in the stock market was held up by the price ot the metal, wasn't it?' asked Mir. Un- termyer,
 T cant say; cant say anything about the stock market answered Mir. Wolfson.
 MT. Untermyer produced the rec ords of operations in Amalgamated stock from 1900 to date to snow that there was great activity in the pur- chase of the stock for year prior to March 1907.
 At that time, when the copper metal was being held, he said. great quantities of the stock were sold on the exchange evidently from the ac- examinations of former purchases. Despite sales of 2,147.005 shares on March Is, of that year. the price, which had been about 121, was main tained ~hereaiter during the period the copper metal was held until, when the metal was released in October the stock dropped to 56. Mir. Unter- myer endeavored to get Wolfson to connect these two transactions, but without result.
 Mir Wolfson said that at about that time his company controlled the sale of about 90 or 50 per cent of the en- tire copper output of the country.
 The pool agreement under which J. M. Fisk & Co. manipulated Col ,r.,, h,,a and lIoot-fnr Xral1av eoaI oua iron stock for the syndicate of brok CTS in 1909 was put in evidence today by Perley Morse The details of the