The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-12-12
Demand That They Be
Put on Stand or
Excused.
TOLD THAT THEY
MUST AWAIT TURN
Irate Group of Financiers, Wit
nesses in Money Trust Inves-
tigation, Surround Attorney
Untermyer at Close of Days
Hearing-Stock Exchange
Now Under Probe.

Washington, December 11.-An lr3te
group of New York bankers and
brokers surrounded Samuel Untermyer'
counsel for the Banking ana Currency
Committee of the House, when the
committee adjourned its money trust
hearing late to-day and demanded
tina. they be either excused or placed
on the stand at once. The New York
men have be<l in Washington since
Monday, and they were told to-niSht
by Mr. Untermyer that they would
have TO await their turns for ex2m!na-
ton. In the group waiting 20 TESTIFY
were Rudolph a. Keppler. former rr"si-
dent and member OF the law commit
too Of the New York Stock Exchange
George W Ely. secretary OF the eX-
change: Frank Sturgis and John q.
NilIburn, OF counsel for the eNchanse'
and John Aspegren. president OF the
New York Produce Exchange.
These men declared that business
and personal matters Of great innpoT-
lance demanded their presence IL Ne"
York. and they objected stre7uousiy
20 being held while Mr.. Urt"rInyer ue-
veloped his line OF examination,
1-nterrnve- insisted that he had to.d
och witness as nearly as possible
when he would he called and asked
them to arrange the matter
Make start To-Day
. -,ar. will be made tomorrow on
.bis lie. az witnesses. following the
hecfnnine, to-day ~ tho investiSat on
e ~. ororatious Of the New OK
stock Exchange. Two specinc lhci-
dents furnished the basis OF the DAY
examination after general statistics
showing details OF operations IN loui
leading stock exchange securities our
Ing the past seven years had oeeh
placed in the record
Tho Withholding OF vast amounts OF
copper metal from the market our'h :
1909 was discussed during tae
o,chance transactions in Amalea'na'eo
Conner stocks by Tobias Wolfson. as
.,s,snt manager of the United Metal
Selling COMPANY. and the Hooking pool
vas discussed by Perley Moss. pubic
accountant. who went over the oooh :
~ the companies engaged IN the poor
NJ Wolfson testified that during the
months from April TO Octooer $50 -
his company of which II. II Rogers
and william Rockefeller were mem
hers. accumulated vast holdings OF cop
rer metal The market price. ne sain'
was a5 cents a pound but me SAFES
during that time amounted 70 oiiS
abou. ra7 GOO pounds. as against H.
sso an oounds in March Of that year
NJ Wolfson said that his company
held the metal because 20 have SOLD
Z. would have forced the price down
ana embarrassed the producing com
NAMES Cor which. he said. the United
Metal Selling Company advanced
money on the metal 20 the companies
who wished TO sell through It. His
coruany. he added. was finally forced
20 dump the metal upon the market IN
October OF that year. when the price
dropped 10 - cents In that month the
United Metal Selling Company sotd
e3.0)o. 900 pounds Of metal
During all this time the price OF
Amalgamated Copper in the stock mar
ket was held up by the price OF the
metal wasn't It?'' asked Mr.. Inter
myer.
Il cannot say: cannot say anything
about the stock market" answered Mr.
Wolfs7n.
Record of Copper Operations.
Mr.. Untermyer produced the record
of operations in Amaigamated Copper
stock from 1900 to date to show that
there was great activity in the purchase
of the stock for a year prior To March.
1907. At that time. when the copper metal
was being held. he said. great .3uant =
ties OF the stock were sold OF the ex-
change evidently from the accUmuia-
lions OF former purchase Despite sa-es
Of 2O45.Os0 shares in March CT that
year. the price. which had been about
II. was maintained during the period
the copper metal was held until INC
metal was released in October. when
the stock dropped TO So Mr. Inter
myer endeavored to set Mr.. Wolfson
to connect these two transactions, but
without result
Mr.. Wolfson said that about that
time his company controlled the saie
OF about 20 = 50 per cent Of the en-
tire copper output OF the country.
The pool asrcem ut under which J.
NJ Fisk & Go. manipulated Columbus
and Hooking NsileE Coal ard Iron
stock for the syndicate o. brokers ia
1909 was pat in evidence to-day By
Pearl & Mss. The details Of the
Hooking Valley pool. the manipulation
OF the price from 20 % TO 20. the final
drop % two points and the disappear
ance OF Hooking from the market was
| described.