The herald and news. [volume] (Newberry S.C.) 1903-1937, 1917-01-12
LAWSON WILL NAME
MEN IN PEACE LEAR

Washington, Jan. 9.-A lesson in
stock market speculs on, several de-
mails, and some more promises were
the net results OF today's preliminaie
peace leak investigation before the
house rules committee.
Bernard NJ. Baruch, investor and
speculator," furnished the instruction
on how to beat Wall street, as he out
lined the course of his trading in the
peace bear raid"
Charles H. Sabin, president of the
Guaranty Trust Company, of New
York, and Otto H. Kahn, Of Kahn,
Loeb and Company, furnished the de-
nails, asserting that they had moth
ing to do with either peace leak or
peace panic.
Thomas w. Lawson supplied the
promises, declaring that if the COM
mittea ordered formal Investigation
of the leak charges, he would name
a cabinet minister, another govern
ment official, and a big banker who
were mentioned to him as making
millions" out of the leak.
There were no traces of. the real
leak in todays testimony, and Baruch,
Kahn and Sabin all entered fiat con-
tradictions of the rumors, reports and
suspicious which connected them with
any advance information on President
iAilson move for peace.
Their testimony followed renewal
of Lawson's verbal battle with the
commit. The Boston broker kept
the hearing - turmoil with his con-
slant refusal to name the high Off
cials who profited b! the leak. Finally
after half dozen tions to refer
Lawson's conduct to tie house with
the recommendation that he be held
in contempt, he told Chairman Henry
that he would divulge the names be-
fore "a real' investigation commit
tee, if one was created
81 shall disclose" he said, "that
number of congressman mentioned to
me the name of the bank, of cabinet
member and another one to whom [
will refer as a great official l will
mention the amount of money, more
than million dollars"
What will you disclose that the
cabinet officer did?' asked Rep. Gar
ret.
Il will disclose that cabinet Of
fcer furnished information which en-
abled another man to sell stocks short
at times and to buy at other times,
and that large sums Of money were
divided among the different parties"
The examination Of Lawson was
concluded, but the contempt motions
still are before the committee for con-
sideration.
Bernard Baruch puzzled the COM
mittee sadly. He explained that he
was buying stock all through the bear
raid and they couldn't understand for
some time that he was buying III
stock that he was already short in.
He reviewed his peace stock dealings
at length but declared that they were
based entirely on the peace move OF
Germany and the reply of Great Brit
ain. rather than on President Will
sons speech. The European develop
ments, he said, were much greater in
their effect on the market than the
presidents move.
Barrel? denied the "BItmore break
fast charges. and said that he never
had discussed peace with Secretary
to the President Tumulty. g. anyone
else connected with the administra-
ton. He told the committee with
scme satisfaction that his profits were
all his own, and would not be split"
Charles H. Sabin. while his bride
waited impatiently for the resumption
O. their interrupted wedding trip, ex-
planned his peace statement to the
newspapers last October. He said his
information did not come from any
administration sources, and that it
was not made public with any view
to its effect on the stock market The
New York bankers denied that his
proposed wedding trip to Europe was
designed to remove any books or pa
ners from the jurisdiction Of the COM
mittee