The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1912-12-12
Attorney fer the Senate Com.
mittee Seeks to Lay Bare
Inner Workings Of the
Stock Exchange
MAKING EFFORTS 10
EXPEDITE HEARING
VIII be Resumed After Holidays
Story Of Copper Transac-
tions is Told to Com
: mittee
Telegram BY United Press

AhAAAAEC
Telegram by United Press
Washington, Dec. IL. The inside
history OF Wall street again formed
the evidence before the money trust
investigating committee today. Every
effort was made to expedite the ex.
aminations Of the financiers 40 chat
adjournment could be taken Monday.
The investigations will halt tempo
rarily when congress recesses for tlie
holidays next week, but will be re-
sumed early in January Untermeyer
proposed to show how the "inner cir
cle' stock exchange operates BY the
witnesses today.
Witnesses today pictured the stock
exchange as a business monopoly ana
described the long fued between the
New York exchange ana its rival con-
sclidated exchange. They said loans
Of twenty-five million were made the
New York exchange daily without any
official record.
President Deagner Of the Consoli.
dated exchange, said many big rail-
road and iadastrial corporations boy
cotted she Consolidated members ana
the latter were barred from trading
on the New York exchange. Two wit
nesses said millions changed hands
daily en the New York exchange with
tn only record scrap Of paper.
Two specific incidents furnished the
basis for Wednesdays examination
after general statistics Showing data
Of operations in fourteen leading stock
exchange securities during the past
seven years had been placed in TIE
records The Withholding of vast
amounts Of copper metal fron the
market during 1907 was discussea in
connection with stock market trans
actions in Amalgamated Copper stock
By Tobias Wolfson, assistant mangaer
Of the United Metals Selling company
and the Hooking pool Of 1907 was dis
eussed by Perlee Morse, public ac-
countant, who went over the hooks
OF The company engaged in the pool
Mr. Wolison testified that during
the months from April to October,
1907, his company Of which H. II. Rog
ers and William Rockefeller were
bers, accumulated vast holdings Of
copper metal The market price. ne
said was 25 cents a pound, but the
sales during that time amounted to
only about a2500O pounds, as against
li,362. 600 pounds in March Of that
year
Mr. Wolfson said that his company
helc the metal, because, to have sold
It. would have forced the price down
anc embarrassed the producing COM
panies for which he said Che United
Metals Selling company advanced
money on the metal to the companies
who wished to sell through 1t. His
company, he aided. was finally forced
to dump the metal on the market on
October Of that year when the price
dropped to 1s cents. In that month.
the United Selling company sold $751;.
00O000 pounds Of metal.
, During all this time the price OF
Amalgamated Copper in the stock
market was held up by the price OF
the metal, wasn't it?" asked MIR. I'm
termeyer.
4 cant say. can't say anything
about the stock market" answered
4 Mr. Wolfson.
. Mr.. lntemeyer produced the rec
+ ords Of operations in Amalgamate.
j stock from 500 to date I'd show iha
there was great activity in the rur
I chase Of the stock tor year prior K
L March. 1907
7 AT that time, when the copper meta
y as being held, he said. great quanti
It ties Of the stock We're sold on the ez
s change, evidently from the accnmals
e tions Of former purchases Desplt
d sales Of 21ii000 shares en- March j.
3, of That yeaE the price which had hee
b. about 121 points. was mamtalne
:. thereafter during the period the eol
Is pas metal was held until when tll
'e metal was released ln neseaeE lh
q stock dropped 70 sa points. Mf III