New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-15
HOW MR. SABN
GAVE OUT HIS
PEACE MESSAGE
Reporters Eager to Tell
World of Good News
Found Knob Off Door

president of the Guaranty Trust Com
pany, to call the financial reporters Of
New York newspapers to his Office on
Friday, October 6, for the purpose of
conveying to them the startling infor-
nation that Germany was actively
seeking, peace through President Will
son remains a mystery to Wall Street
after a week Of conjecture Mr.. Sabin's
most intimate friends have been unable
20 account for his now famous peace
interview.
In view of the futility of discussing
I the motive, something more may be
said of the manner in which Mr. Sabin
impaired his information. About noon
of the day mentioned his secretary tel
ephoned the newspapers that the
banker wished to see their financial
representatives at o'clock. This pro-
cedure in itself was enough to excite
more than usual curiosity. as It was a
radical departure from Mr.. Sabin's
usual custom of meeting the reporters
Informally each day as they happened
to catch him free from bushes. duties.
When the reporters arrived at the
Guaranty Trust Company they noticed
that Mr.. Sabin was earnestly engaged
in conversation with James II. Perkins,
a vice-president of the National City
Bank. Mr.. Perkins said later that he
had no previous knowledge Of what Mr..
Sabin was about TO say.
Secret Stuff
Immediately after the departure Of
Mr., Perkins from Mr.. Sabin's presence
the latter beckoned to the newspaper
men to follow him into his private
Office. This procedure in itself was
enough to impress the group that the
banker considered his message Of
extraordinary Importance.
Mr.. Sabin lost no time In coming TO
his story. Boys" he said, 81 don't
want you to use my name as telling
you this, but know that Germany has
asked President Wilson to try to bring
about peace. I'm sorry | can't disclose
the source Of my information, but you
can rest assured that il is reliable.
That Is all have to say"
ain view Of the international i'm
portsnce Of your statement" inquired
one Of the reporters, what effect do
you think it will have on the stock
market, or, might better say, what
effect do you think that an unexpected
reace would have on the MARKET"
THAT Is a question that no one can
answer" replied the banker. at would
be reasonable to suppose, however,
that prices might sell off temporarily
at least, but beyond that no one can
say"
Mr.. Sabin was not publicly identified
as the banker who made the above
statement until the day after c. w.
Barron, in the Boston News Bureau,
which publication was not represented
at the interview, named the trust COM
pany president as the source of the
statement
Knob on the Door
With the conference at an end there
were hurried efforts on the part OF
some of the reporters to leave. But
when they tried TO open the door lead
ing into the trust company's main
banking rooms they were unable to do
so, as the door was without knob.
Ii was several minutes before the at
tention of Mr.. Sabin's secretary was
called 10 the predicament OF the men
Who were in possession of this impor-
tant disturbing market Information.
When the door was finally opened the
reporters dispersed with undignifed
haste.
Mr.. Sabin has steadfastly refused to
elaborate on his peace statement De-
spite the criticism heaped upon him
from all sources he has not retracted
one word Of it. He still believes his
information to be correct.
Wall Street, In the absence of any
explanation by the banker, is still
seeking the motto for his statement
and whence it came. The fact that Mr..
sabin was seen entering the Offices Of
J. P. Morgan & Co. a few minutes
PRIOR to his talk with the newspaper
men has been considered significant.
That the Guaranty Trust Company is
the New York correspondent Of the
Deutche Bank Of Berlin has also been
viewed as possible important element