davidaulloa/AmericanStories huggingface dataset:
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13
WAYS Of Street
TOLD BY Witness
TELLS COMMITTEE INSIDE WORK
INGs OF THE STATE
EXCHANGE.
CAN'T STOP MANIPULATION


WASHINGTON, 12-12-l2, - The
highways and byways Of finance as
trayersed by operators on the New
York stock exchange, were mapped
out before tho house banking and
currency committee .oday in Its money
trust inquiry. Frank X. Sturgis, Of
the brokerage firm Of Strong, Sturgis
~ Coz former president and member
of the board Of governors of the stock
exchange, told the committee at
length about the ways Of the street"
The examination OF Mr.. Sturgis by
Samuel Untermeyer, counsel for tho
committee, bristled with technical dis
cussions and involved digressIons. Mr.
Sturgis at times insisted on lengthy
explanations in answering questions
and once flauy declined to answer.
His counsel, John G. Milburn, inter-
fered to preserve the calm dignity Of
the occasion.
The testimony Of Mr.. Sturgis
brought out that the membership Of
the stock exchange has not been in
creased since 1869, when it was fixed
at LOO. Since then the business done
and the securities listed on the ex-
change have increased about fifty
times over
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13

III ltlUu. since tnen tne business done
and the securities listed on tlie ex-
change have increased about fifty
times over.
No Increase Necessary.
Mr.. Sturgls declared an increase in
membership was unnecessary, for the
present membership was well able to
handle the public's business.
In dozen recent failures Mr.. Stur-
gis admitted, stock exchange houses
had carried with them stock owned
in part by their customers but hypo-
theoated by the brokers for moro than
the real ownership of the broker In
such cases the proceeds Of the sale OF
the bankrupt brokers' seat on the eX-
change goes, it was explained, not to
his customers, but to his creditors in
side the exchange Mr. Sturgis
thought this was fair and just, as II
was a regulation subscribed to by the
members in the exchange and recog-
nized by the public.
Stock exchange brokers usually use
the stock owned in part by their Gus
toners as collateral TO support their
own loans, Mr.. Sturgis said re-hypo-
thecating the securities for q greater
amount than is represented in the
debt Of the customer on the stock.
He added that the governors of tho
exchange would welcome any sugges-
tion that would put a stop to the prac-
tice. He disagreed with scheme
proposed by Mr.. Untermeyer that
would force brokers to mark on loan
envelopes containing their collateral
the amount for which they were al
ready held as security by the brokers
that the bank might make its loan to
the broker on that basis This scheme,
Mr.. Sturgls contended would entail
an almost prohibitive amount of
bookkeeping.
Can't Determine Motives.
Mr. sturgis, through a grilllng de-
tailed examination, insisted that the
stock exchange could not prevent ma
nipulation OF the market by pools and
syndlcates. He said they could not
go behind a transaction to discover a
buyer or sellers motives.
on this point. Mr.. Sturgis and coun-
sci for the committee had a spirited
argument.
"ls It legitimate for a member Of
the exchange to give an order to sell
a certain amount OF stock to one
broker and an order to buy the same
amount to another broker?" asked
Mr.. Untermyer.
so long as there is no coluslon and
the commissions are paid 1t is not IL
legitimate" said Mr. sturgs.
The important point is that the
brokers' commission be paid" asked
the lawyer
Yes"
You know that the object of that
sort OF a transaction Is to raise or de-
press the price of the stock?"
"The object is to create an active
market"
"A market that appears to be at
tractive, you mean?"
YES"
Mr.. Untermyer sought in vain to get
from Mr. Sturgis his view Of the po-
sltion OF the trading public In such a
transaction with the stock at fictl-
tlous figure and finally objected to the
form Of the witness answers.
Tho Committee Laughed.
You are asking me moral ques-
ton and / am answering stock ex-
change question" said Mr. Sturgis
with a smile. and the committee
laughed The witness insisted that
these transactions were beyond the
power OF the exchange for discipline
50 long as the commissions are paid.
The relations Of the New York
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13
Another Surprise.

In his letter to Mcnamara he said:
Another surprise. enclose a copy
Of Jerome's letter with suggestli IN
that II | am prevented in any way
from conducting the affairs OF the
association you should advise tho
first vIce-president to take charge"
what did you mean when you
said, IF am prevented from con-
ducting the affairs Of the associa-
tlon p" asked District Attorney Mill
Ter.
"I meant Just what It says" replied
Ryan. who. although the district at
torney objected, kept on talking
There had been vIrulent attacks
published in New York and emlnat-
Ing from the National Erectors' assoc
latlon and man named Donneliy
had come from Albany to circuiars
petition to have me impeached az
president. I did not know what there
was to It until ! investigated Dom
nelly's end and wanted to be pre-
pared for any emergency That Is I'll
there Is to It except that saw Jer-
ONE"
objection was then made to Ryans
remarks. Federal judge Anderson.
turning TO the witness, said:
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13
Talk irresponsible.

"All this talk Is irresponsive. This
Is the case Of the United States gov
eminent against there defendants lnl
not the Erectors association. Tha
government is behind the prosecu-
ton"
No further inquiries were made
regarding Ryan's visit to jerome. IN
his previous testimony Ryan said his
visit was friendly and he denied Il
had anything to do with violence IN
the conduct of the strike in New
York.
Michael j. Hannah, Scranton, Pa.
testified that trimming" non-uaion
iron workers meant beating them
up"
"Why WAS it yen thought 'heso
open shop contractors had no light
to do their work the way they want
ed 2" the witness was asked.
Because they employed men out
side OF the union. We wanted to
bring the non-union men into he
union"
How did you want to bring them
ln-On stretCherE'
mo, In a kindly way"
Paul J. Morrin, St Louis. another
defendant. testified concerning hl7
activity as business agent Of a local
union He said he had not been in
accord with the administration ot
the union and attempted to appoint
trustees FOR managing the finances 4
the international union. He denied
knowing Of the use Of dynamite
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13

WASHlNGTON, Dec. IA
Forecast for oklahoma Fan
ana warmer Friday; Saturday
fair,
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-12-13

TULSA, Dec. l2.-Thh Tom'
perature- Maximum, 40; mini.
mum, 20; south winds; clear
The Washington herald., 1912-11-10
THE PEOPLES FORUM
ROLLER SKATING ON
STREETS IS DANGEROUS

To the editor: 1 read with much surprise
the subhsad to my article in your col
umns Says streets are for vehicles and
sidewalks for pedestrians" and would
say that the editor evidently did not fully
understand my argument. and probably
this was the cause by my reference to
the traffic law in New York. which was
made simply to show that while our law.
or its enforcement. should be bettered,
people Of other cities have even worse
conditions to contend with. This was
made because in an article prior to mine
it was inferred that Washington has
about the worst traffic law. Personally
l believe that if the present law is OBJ
served by every one there would not be
any accidents. While drivers Of vehicles
are not compelled to come to a stop at
crossings, they should, according to the
law. not exceed three to four miles in
crossing downtown streets, and not moro
than six miles in less congested sections.
And at each crossing a signal must be
given. At such speed and with caro-
taken by both driver and pedestrian no
accident need happen. 1t often happens.
however. that persons getting of cars
will jump before the car comes to a
stop and continue running across TO the
sidewalk. in which case there is danger
Of vehicle travelling even at three miles
an hour striking them. heartily agree
with Mr.. Hegeney that the utmost care
should be taken at street crossings-by
pedestrians and drivers, alike. however.
1 believe the pedestrians should keep
to the sidewalks as much as possible.
Travelling at night one finds large
number Of persons using the street tprob-
in addition to a large number of child
rem OF all ages roller skating. 1t is
sometimes difficult to see them until
within a few yards of them, when 1t is
almost dangerous to warn them with the
horn, as they are likely TO become be-
wildered and step in front Of the vehicle.
think there should be law against
allowing children to use the streets for
roller skating in view of the great dan
ger they take. and l believe 1t would be
well to arrange for skating rink for
them on each of the Fairgrounds. II
need be by means of popular subscrip-
ton to the cost thereof.
l have taken a great deal Of space In
your columns. which ! hope will be par
doned because Of my great interest in
this subject. end I hope that my argu-
ments may do something to eliminate
the danger Of accidents-to children par
tcularly. And hope that the teachers
Of this city will tell their scholars Of
the danger they take when carelessly
running in front Of vehicles.
MRS. H. L. WOODWARD.
The Washington herald., 1912-11-10

Ices ~ ~ eeiolnal estSus whaea fl
|the year ended lsst April these vas .
|tosal Of 6s.ss4sss packages, At = cost
|of $zeA66o T11y weighed nearly 500
|tnns. Deveiopmeat Of Peieaei6e agricul-
|ture. and the maltplicatiou OF agrieul-
|tus1l colleges, which would Be quick to
detect and exp6se finpoetures, have
tended to improves the quality. and
when q iasme4 or hostieultufi5t re-
|ceives packet he6fing the frank Of
his Senator or Congressman it may
he worth while. TO Get aside few rods
lot his tillable area and experiment with
its contents. s
The department invites bids for Its
supply of seeds each year and receives
responses from many sources. Most
of the Aower seeds come from Ger
many, France, and Northern Africa,
where they can be produced At much
less expense than in this country. 1t
may be question whether these pack
|ets are always sent to the parties that
will make the best use Of them, be-
cause the best farmers or gardeners
are not always the men whose good
will is of most value 10 the senders.
The Washington herald., 1912-11-10
DAN AND TIM AND PAT.

Dan would have wooed either Madge or Ann
II it had not been that
Each girl had another suiter: there
Was Tim and there was Pat.
Dan met his rival Tim one day-said
Tim To Dan with a frown:
III throw up . brick and you can ccort
Madse, 1t don't come do~n-"
Tim threw The brick, Dan lost the girl;
Twas . einch for him. Of course.
Bu, Dan didn't mind it. Tim" aid he,
I'm wurk that thrick On Pat Bourse
Dan and Pat stood talking loudly
Near an uninished brick wall.
All unmindful Of the mortar the masuns
Above let fan.
We looas sloiks to Ann" .aid Pat, an
The wan that gets her han
viii have Z foight an whip the other
Wan. Do you understand
"Yis.' said Dan. ''tnt there's a bitther way;
I learnt 1t from Tim Troors:
I'll throw a brick M in the air; the
Brick shtays up she's yoors'
"Areedr' said Pat. and up few the brick. =
20 what cinch." aid Dan:
TN 20 shaisht way an buy the ring.
T. give { me MaTy Ann"
When the brick had spent its force
Twas close 10 the top II the wall;
A bsichhyr caught and layed il in.
OF course. 1t did not fall.
"A foo, for iuckv. aid Dan to Pat. With
Passion rough and stormy:
''Ths hsiek shtayed up. bad cess t Troon;
o A -5oaS ANscHurz.
The Washington herald., 1912-11-10
senator Borah on Bosses.

From the Indianapolis Newa
TT may be-" said Senator Borah yes
terday, "perilous for some of US to stay
in the Republican party, but that Is the
party in which I have fought so far.
and l shall continue to fight there.
That the Senator 10 Q Progressive every
one knows. He was one of Roosevelt
at Chicago. doing what ne
could to bring about the third termers 8
by the Republicans, but urS-
ing him not to bolt. Nor does he him
se1f propose to bolt. He says. and with
entire truth, that he was In favor OF
many of the things in the Bull Moose
platform long before there was Bull
Moose party. Senator Borah was Pro-
gressive before Roosevelt was. Some OF
the reforms demanded by the Roosevelt
party have already been written into
law. thanks to the Republican Progress
sives in the Senate. The Progressive
movement was going forward in most
il. Senator Borah said:
II do not think It necessary to leave
the Republican party to fight for these
reforms. Others may differ from me.
But will say this. to talk Of leaving
the Republican party because Of its
bosses. 10 -asinine. There are bosses in
the new party. and there will be In every
party.
Every man who knows anything about
politics knows that this Is true. One
cannot escape from bosses merely by
changing parties-least Of all be chang
Ing to the Roosevelt party, which II
bossed - NO party ever was before.
The Washington herald., 1912-11-10

aepsas fsom. spee;fs iae&s shoAn 81
aAldavit or veri6ed ban. that iaamedi-
ate and irreparable loss or damage viii
result to the applicant before the mat
ter can be heard on notice. When
such restraining order is issued with
out notice the writ shall be made re-
turnable At the earliest possible mo-
ment, and in all cases the hearing must
Be within ten days frcm the date Of
the order, and it shall take precedence
of all other matters Except older mat
tiers Of the same character" At the
hearing the party securing the tenn
porary restraining order must immedi-
ately proceed with his Application for a
injunction. Failing to do
so, the court must dissolve the order.
The enjoined party may take the
initiative in bringing the issue to trial
He may, on a two days notice, move
for dissolution or modification Of
the order, in which event the court
Shall proceed to hear and determine
the motion a expeditiously IS the ends
of justice may require" Temporary
restraining orders heneeforth must be
filed in the clerks office.
Here is a great reform worked out
quietly and in the most orderly fash
ion. Under the new rules it is hardly
possible to abuse the injunctive power
of the courts. .r, .z
And, finally, we have another proof
that the Federal courts are properly
sensitive to settled public opinion.
The Washington herald., 1912-11-10
The New Equity Rules.

For eighteen months the United
|, States Supreme Court has been at
work on a reformed procedure for the
Federal courts. The matter has been
-sin charge of Chief Justice White
and Justices Lurton and Van De-
vanter. And now, as forecasted weeks
ago by The Herald, the new rules
were promulgated to go into effect
February l.. 1913. The main object
is to reduce the cost of litigation
and to eliminate delays The pres
,ent equity rules have been in use
: fifty years, being practically the same
as those in force in the English
, chancery courts at the time Of our
revolution. In regard to the taking of
; testimony. particularly in patent and
copyright cases. the Chief Justice says
that the whole intention has been to
bring the taking of testimony down 10
/. more simpli6ed and inexpensive
method" As a general thing, cases
hereafter will be tried by the court
rather than be sent to a referee to take
testimony and report back to the court
fc One very important change will
make It possible for the appellate
|. court not to reverse suits merely be-
s.eause of errors not prejudicial." But
1Ihe most important change is that with
reference to the exercise by the courts
of the power to grant injmctions.
Here the change is almost revolution
ary, though it must be said that there
are Federal judges who have been cau-
tious in this matter. Under the new rules
there win be small chance for the
abuse of this great power. No pre-
siiminay injunction shall be granted
evithout notice unless it shall clearly
The Washington herald., 1912-11-10
BABY IS NAMED EILEEN.
ThrOnR Of NOtables at. ChristeninE
of Young Decies.

ThrOnE of NOtables at. Christening
of Young Decies.
London Correspondence New York American.
This was juveniles day in the Gould
family.
the christening Of Eileen Vivien de la
Poer Beresford. daughter of Lord and
Lady Decies, and granddaughter of Mr..
and Mrs. George Gould, but little Edith
Kingdom Gould. the eleven-year-old sister
of Lady Decies, Unexpectedly added to
the ceremonial interest.
Timidly, but with good deal of self
contained assurance, Edith made her
debut as a poet and reader. The poem
was entitled ITO My Sister, and con-
tanned much pretty infantile sentiment
and was delivered with proper emphasis
and gentle little gestures.
1t was under the time-eaten rafters Of
old St. Giles Church, near Stoke PogeS.
where Grays famous '.Elegy in .Coun-
try Churchyard" was written in 1850. that
princes of finance this afternoon wit
messed the christening. The little church
was unable to hold the throng Of rela-
tives and nobility from the neighborhood
many lining the path from the great yew
trees over Gray's tombstone to the vii
lage road. Lord Greville and Howard
Gould acted as godfathers. and the
Marchioness Of Waterford and the Hon.
Mrs. Edward Lumb. sister of Lord De-
cies, as godmotherS.
TIE scene Of the christening. under the
yellow glare Of oil lamps and the. faint
light of the stained glass windows. was
enhanced by the gay toilets Of the women
and a profusion Of flowers. The fount
where the infant received her baptism
was one huge bower of lilies of the VAL
ley and pink carnations. Lady Dec,ep
looked the picture of health and happy
ness. standing in a pew near the fount,
smilingly watching the ceremony as Mr..
Anthony Drexel. jr., took the crying in
fant from the nurses arms and gave her
to the Rev. Mr.. Barnet. who officiated.
The walls of "Viv.' as the child will
be called. caught the fancy of a dozen
other infants in the church and they all
Joined in as a chorus to the accompani-
ment Of the organ and choir.
Lady Decies wore a gown Of chiffon
and velvet in ash gray. with a large VEL
vet hat and ostrich plumes to match.
Later she graciously consented to pose
for the New York American.
The Washington herald., 1912-11-10
Efficiency, = Rot spoils.

A local contemporary comments on
the Presidential election as follows: "A
lot Of Republicans viii have to 60 to
work now. As a smile-provoting ditty
of 4 pafagrapher who labors under the
erroneous impression that it Is his busi-
ness to be impertinent without count
ing the cost, the above may pass, but
among the serious-minded it will be
frowned upon.
Let. us take for granted that the
President-elect means to be fair, means
to give everybody square DEAL" and
means to observe the civil service law,
whichties his hands as to the rank and
file of the Federal employees. We have
already heard wild talk and have read
irresponsible editorial advice urging
Mr.. Wilson to repeal the civil service
act" in order to give his Democratic
partisans after ali these years of pa
tient or, rather, impatient, waiting after
so many lean years, a chance for at
least four fat years. Such expressions
are to be discarded as rubbish. Mr..
Wilson has no such intentions, and, if
he had, he would find it difficult mat
ter to have Congress do his bidding for
reasons too manifold to be enumerated
here.
But there is a vast army of Federal
employees who do not come under the
civil service act, in Federal courts,
post-ofiees, in customs houses, depart
mental bureau chiefs, &c. Sure. they
are for the most part Republicans, and
there are numerous Democrats waiting
to share in the spoils of the vietors. In
behalf of those among this vast army
who for so many years have served
their country with loyalty and with ef-
fciency, The Herald asks the President
elect to ponder and consider well be-
fore depriving them of their we'll
earned continuance in ONCE.
If an Official be inefficient or a
drone. fire him by all means, whether
Republican or Democrat, but to oust
capable men just because they are not
protected by the civil service act would
mean to cripple the government ma
chinery to most unwarranted degree
The Washington herald., 1912-11-10
COURT GOSSIP or INTEREST
FROM FOREIGN COUNTRIES

pfo0o no0d - . H0hen1oIofus ana
which sx1gts, under Prussian influence. .
most hatsfud condition In the eyes Of .
Catholic Prince who. besides. 10 married
- an Austrian archduchess.
The QuDt1oD 70: ''Wfll the Wlt1alUbaeh
House laws win the Bavarian people
the most loyal people ON earth-permit
King Otto. though insane. to be deposed7
4 Il would b most radical procedure In
10 ultra-conDarvative Q land. In fAct,
precedents are all against II. When
ehildle0s King Friedrich Wilhelm " Of
Prussia In 1s5s became incurabiy III and
incompetent to carry on the business
and cares Of STATE. his younger brother
wilhelm Cater the nrst German Em-
peror) did not assume crown and king
ship but caused himself to be proclaimed
prince regent and a. such he ruled
Prussia until the Kings death In Janu-
ary. 1S@. A similar procedure was
followed In the case Of Prince Walde-
mar Of Lippe-Detmolt. with George m
Ct England and recently with Henry Of
Reuss.
So t..sre 10 hardly any fear Of . spesdy
rupture between the Hohenzollerns and
tbs wittelsbachs. or Of serious trouble
within the German Empire.
Royalties Of all nations now are busy
making. arrangements for Christmas.
Most Of them already have placed their
orders for Christmas cards. The rulers
Of men often 80 to great pains in select
ing their cards. and an insight into their
character u provided by q study Of
their choice.
The King Of EnEland's Christmas
greetings this year viii be accompanied
by . picture by Mr.. Howard Oavie de-
picting Cedric the Saxon accepting the
crown-a very appropriate choice In view
of this being coronation year. Queen
Mary also believes in being up-to-date.
for the picture on her card represents
the acceptance Of the crown by William
and Mary.
Queen Aexandria's card will be of the
simplest design. and viii bear q picture
Of q woman seated at q window with an
open Bible.
The Prince Of Wales recalls to his
friends what happened at Greasy. His
card shows the Black Prince engaged in
battle. 1t will be remembered that the
princes motto. Itch Dien." and his
crest were first used after that victory.
A curious whim has prompted the Ger
man Emperor in his choice Of q Christ
mas greeting card. He has placed on 1t
a picture OF a modern Dreadnought sig
mailing Christmas greetings to Nelson's
old flagship. the Victory.
The Car has chosen q subject with
an English setting. for his card depicts
Peter the Great working as a shipwright
at Deptford in 1897. FLANEuR.
Copyright, lsa1, b. Court Gossip syndicate)