Evening journal., 1913-09-30
LOST
HEAVILY in
The MARKET
Paid $4,000 on One Account
Immediately After Being
Elected Governor
DEFENSE MAY PUT
In TESTIMONY TOMORROW
BY JOHN EDWIN NEvIN.

stan Correspondent The United Press.
ALBANY, n. ~, Sept 3O-rhe stock
speculative margin account of Governor
Sulzer, carried with the firm of Harris
& Fuller from March Is, 1910, down to
June Is, 1918, was exploited at great
length before the impeachment court TO-
day. With Melville B. Fuller on the
stand, the attorneys for the impeach-
ment managers presented a bewildering
set of figures showing that the governor,
as a speculator, was extremely unfortu-
nate. His purchase of securities OF any
sort seemed to operate in a depressing
manner and invariably the stock crum-
hed in value.
A goodly portion of Fuller's testimony
covered the periods prior to Sulzer as
Stunning the govenorship. The commit
tee emphasized through the witness and
its counsel the fact that for years the
governor had spocuated. This was in
tended to offset any claim to be made by
the governor or his witnesses that his
speculation was entirely in the nature of
investment buying, pure and simple.
Suffers origial purchase of Big Four
stock, made in March, 1910, showed a
drop of seventeen points a share by the
end of that year. In fact, the accounts
became 50 bad from the Sulzer stand
point that he was compelled TO with
draw 200 shores of Big Four and substi-
tute therefor 200 of American Smelters
to prevent his securities being sold be-
cause of lack Of margin.
On January l. 1912, Sulzer then a
member of Congress. owed the Harris
and Fuller firm S4s.5J2.3s and on that
date was carrying on their books 500
shares of Big -Four, 200 of American
Smelters and 100 OF Southern Pacific.
Out Of the maze of figures it was de-
veloped for the record that after being
elected governor, Sulzer paid to the firm
S2l 600. The first payment came on
November Is, 1912, right after election,
and consisted of $4,000 in cash. But
even these payments did not help be-
cause the securities continued to
crumble in value. In June, 1913. ac-
cording to the witness, the Sulzer ac'
count was in a bad way. The governor
had failed TO respond TO calls for ad
ditional margins june ~, 1918 Lieu
tenant Commander Louis NJ Joseph
thai of Governor Sulzcr's staff, himself
broker. took over the account. paying
S26. 6.73g2l to Harris and Fuller and re-
ceiving the securities that were then on
deposit
Despite the fact that Judge Gull
/ len endeavored to hurry things along,
the identification of market records.
checks and the recital of the details
of the stock transactions dragged.
Many of the Senators made no SER
ious effort to follow the proceedings.
but retired to the cloakroom TO
/ smoke.
Attorneys Stanchfeld and Brack-
EFT said at noon that they hoped to
be able to complete their side of the
case by tonight. When told this
Marshall and Herrick, Of the Govern
/ or's legal staff said they would not
require more than four or FIVE days
to put in their defense. They are
very hopeful that the court will dis
miss certain Of the articles Of i'm
peachment on motion but this hope
fulness brings no apparent response
on the part OF the members Of the
court, nearly everyone of whom
seemed to believe that .here will be
vote Of guilty or innocence on each
specific charge.