The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-10

tSohtinueO from First PaRe.)
mad no advance information OF any
sort either upon the so called peace
note of the President nor upon Won
thmann-Hollweg's speech at the
converting of the Reiohstag in which
he uttered Germanys first peace
offer"
Representative Campbell. of Kan
sas, questioned and re-questioned the
witness with regard to his market
activities on December 10. 90 and 81.
To the great surprise of the committee
Baruch admitted that all during De-
cember 20 he haa been a heavy buyer
OF stocks.
Il sold all day on December 49,"
Baruch said. the day of Premier
Lloyd Georges speech before Parlia-
ment. Il kept on selling from the
time Lloyd-Georges speech showed
that Great Britain was not closing
the door TO peace altogether"
"Whta did you do in the market
on December 20. the day on which
Mr.. Lansing first took the newspaper
men into his confidence regarding the
note?" asked Representative Camp
bell
II was buying throughout the day."
answered Baruch.
And what were you doing In the
market on December 21?' continued
the investigator.
II was buying Steel Common"
again asserted the witness.
And when did you begin selling"
HAD BEEN SHORT, WAS
BUYING STOCKS TO COVER
II did not sell any stock at all on
either day"
THE stock I was buying on We'd
nesday and Thursday was all short
stock-stock l was already short Of"
he explained.
Baruch then enlightened the COM
mittee as to Just what had happened.
He said:
Il began selling on the day of the
Won Bethmann- Hollweg utterance.
That showed that there was move
on foot for the cessation of hostfli-
lies across the seas. That was on
December H., or IL. think. I sold
between $4,000 and $4,000 shares of
Steel Common at that time-a short
sale. I also sold a good deal of long
stock that l owned. I sold Steel Com
mon on the day following the Won
Bethmann-Hollweg speech and when
Steel reached 10, l was short prob
ably, at a maximum 10000 shares.
I covered about 10000 shares Of the
stock"
when Lloyd Georges speech
showed that the door TO peace would
not be slammed in the face of the
world" said the witness, II felt the
market should be sold, and that time
did sell. l think. nearly $4,000
shares of Steel Common. That was
on December 19. The following day,
the 2oth, my purchases covered up
about one-third of my total short
commitments continued buying on
the day following the publication OF
the Presidents note"
Have you talked with anyone with
regard TO the Lloyd George or the
Won Bethmann Hollweg speeches, any
one connected either directly or in
directly with tho administration? %
asked Representative Lenroot
mo. With no one" answered Ba-
ruch.
What do you consider the effect
Of the Presidents so-called peace
note was on the market?" was then
asked.
1T could not and did not have
nearly so much effect on the market
as did either the German peace move
by the chancellor, or Lloyd George
speech which suggested that peace.
at her own price. was not inaccepta BILE
to Great Britain"
IE4LlAS oF HIS CONIhIBCIION
TO CAMPAIGN FUND
You sustain Intimate relations
with the administration" was next
asked.
II am a member OF the Advisory
Commission Of tho National Council
of Defense" responded Baruch.
did you talk with any one, durin g
December, regarding the movement
or movements for the termination of
the war;"
II did not"
rs there anyone in the admins
tration to whom you could talk with
out embarrassment?
NO. there is no one to whom l
could talk on these SUBJECTS"
| Questioned with regard to his con-
I tributions to the Democratic presiden-
! tial campaign fund, Mr. Baruch ex-
planned that his total contribution be-
| fore the election had been $4,000 and
that after the election he had given
his check for $4,000 to make up. the
| deficit
Have you ever talked to Secre-
tary Tumulty with regard to the deficit
in the Democratic campaign fund ?"