Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-01-25

the exchange. who thought the frs,
responses might como Within a day or
Two.
PROVIDES ron CONCEALMENT
OF NAMES OF CUSTOMERS
session on the subject with Mcxsrs
Stroit and Nobl" and it's experts The
result was that tho committee sub
mitted 10 the board Of governors OF
the exchange a supplemental rcQucs;
TO bc transmitted TO the brokers. which
vas expected not only 10 simplify the
bookkeeping task Of furnishing the de-
aired data. but also 10 provide for CON
cealincnt Of the names of customers
whom the committee finds need no, TO
be involved in the inquiry
Under the new scheme. the actual
accounts to he submitted in one
envelope and the name of the customer
IL another. with a common symbol for
both. IL the account on examination
appears innocent. the envelope contain
ing the name will remain scaled
The board of governors agreed TO
submit the request, and the committee
won, away assuming that the brokers
would acccde 10 il. hut tho commit
tees counsel. sherman L. Whipplc
made II plain ;ha; If any broker dis
sented. the power OF Congress would
DC used 10 force him to revca. the in
formation desired with small regard.
moreover, for any desire in his case
10 keep confidential the names OF his
customers
Already the committees experts have
tho Stock Exchange clearing house
sheets under eNamina zion. and have a
list OF brokerage houses which sold
stocks heavily just prior TO tho publica
ton OF the note. One OF these documents
showing net sales on December i3 Of
l5.s6o shares OF the United states steel
by an unnamed firm was submitted to
the committee in it's public session to-
day. II was brought out that this did
not indicate necessarily that the sales
we're for the short side OF the ac-
count. but furnished a clue The exact
nature OF the sales OF the experts could
lind out by examining tho firms books.
COUNSEL POUNDS AWAY
on "sHOnT~' FEATURE
AS was the case yesterday. the COM
mittcc's counsel. in examining Wit
nesscs to-day pounded away at the
short" sale feature OF stock market
speculation. 1t seemed to be Mr.
Whipple's purpose TO show tina, the
opportunities OF the public 10 make
profits against pools organized 10 op-
crate on the Short side were slim.
In questioning President Noble on this
subject particularly as to whether
stocks in diminished circulation were
not withdraw from the market as un-
available for short operation, Mr..
Whipple was assailed by Representa-
tive. The Congressman accused the
attorney OF impugning Mobiles SINGER
ity. Whipple denied any such inten-
tion.
CHIPERFIELD OBJECTS
TO METHODS or wIIIPPLE
During examination of Noble regard
ing the retiring of securities from the
market. attorney and witness failed
10 agree on Interpretation of a pool.
Whipple then asked Noble if he had
not haG one thing in mind and said
another. Chiperhcld interrupted.
MIR. Chairman" he said 81 don't
think the statement Of the witness
ought to be impugned"
Chperfeld. apparently excited,
stared defiantly a Whipplc. The lat
ter. seemingly disturbed, paused a
moment and then addressed Chairman
Henry and the witness. "If i'm
pusned the statement Of the witness,
certainly did not Intend to-" he said.
DO you think impugned the wit
ness. Mr.. Chairman?'
II want 1t in the record" Chiper-
held declared emphatically, that 7
object. want to say that now. SO
that some day can make a comment
which I desire to make. AS an indivi-
dual member of this committee / am
going to follow certain lines without
regard to counsel or the rest OF the
committee"
Chairman Henry explained that he
did not think Mr.. whipple intended to
impugn the statement Of the witness.
Mr.. Whipple said il it was thought he
had impugncd Mr.. Noble, he would
apologize.
II want to say that 7, for one am
Impressed with the spirit OF co-opera