The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-01-30
BARUCH "ClEANEO UP"
HALF MILLION DURING
NOTE LEAK PERIOD
Continued from PAGE Oae)

ing the thirteen days period OF his
profit taking On several occasions he
was forced to sell stocks at a net loss
he testified AND finally on the day
before the presidents note was made
public. he overlooked the Dow ones
ticker tape which he had IN his office
that a note was expected
81 covered that day" he said and
! am .orrR | did
Testiiying that during the leak pc
riod he had called up Secretary Nc
Adoo, Raruch explained that he had
done so at the instance OF Col. +. NJ
House President Wilson's adviser. 10
suggest to the secretary the name OF a
man to I'LL vacancy IN the board OF
icderel reserve bank OF New York He
said that Colonel House had called
him OH the telephone and said
Conversation With House.
There Is vacancy IN the federal
reserve bank don't know anything
about those fellows down there, won't
YOU suggest a name?
Baruch said he did so. Colonel
House thought the name satisfactory
and asked him to suggest IT to Secre-
tary Mc&loo. -. -.
Denies Report of Dinner.
A rumor, whith Mr Whipplc said
had come 10 the committee, to the ei-
feet that Haruoh, some time during Oc-
tober. November or December. had
dmed with Count Won Bernstorii. Mr.
White and Chase s. Sabin, New York
banker, who early in October predicted
peace move, was denied by Baruch.
Baruch declared voluntarily that he
was ready to answer any question fully
and as his examination proceeded he
frequently caused laughter BY his hum
otouN remarks about hl, gains and
losses.
Lost on First Deal.
On December II he said. he bought
SOOO shares ol steel, expecting It tC
rise, but it didn't and he sold IN,
following day at a loss oi about
points Then came the address d
Won Bethmann Hollweg in the reich
stag regarding peace. Baruch sa,t
and, foresceing the effect the spcecl
would have on the market on Decem
ber ~, he sold short as rapidly a,
possible, dealing in all in 2j,4O0 share,
of steel that day. N
II started selling early in the morn.
ing" he said. "and the only reason
did not start earlier. was that | haC
been out OF touch with things during
the previous day, due to being absen
from my office"
Believes Speech Turning Point.
Batuch declared he believed history
would show that Won Bethmann- Holl
weg's speech marked the turning point
in the world war toward peace.
81 realized" he said, that the peu
pies minds heretofore thinking onl,
oi war. would turn TO thinking o
peace, that outside OF better thing
they would think OF wha, effect peac,
would have on business and finance
and that man ought to act quickly
ic selling securities"
lie explained that the technical sit.
ua,ion on the market was bad and
that he sold steel because ut was prac.
tically a, the top
Were you watching for peace he
was asked
Would Raise Mischief.
u knew when peace came II was 20.
ing TO raise the mischief in the mar
ket' was the reply.
The broker said tha, his own men
tai operations represented those OF all
who dealt IN the stock market.
Baruch said he had anticipated IN,
Lloyd George speech replying to IN,
German peace proposals on December
10.
II knew of course that il was com
ing ! felt tina, II would be Just wha
!, turned out to he, tha, i, would lcav,
the door open for peace | can see nov
how II came out on the ,icker-'But il
leaves the door open for peace"
Denies Talking With Tumulty.
He never talked over the telephon,
with Secretary TumulV. or discussed
the peace note with him, he .aid. Tn,
story that he had breakfas,ed with Tu
mul,y in the Bil,more hotel, he said
was "moonshins."
There Is one fac, In connection viii
this whole matter which ha, been yer,
generally overlooked" Baruch yolun
teered THAT Ia that the Japanese peo
ple, than whom there are no cleysrrr |,