Evening star., 1917-01-24
PYROTECHN|CS PUT
INTO LEAK HEARING
Mr.. Chiperfie!d Protests at
Method of Counsel in Ex-
amining Witness.
BROKERS TO SUPPLY DATA

NEW YORK. January 24.-The House
rules committee in executive session
today decided to adjourn it's New YORK
hearing on the leak investigation for
an indefinite period. Members OF the
committee will hold meeting in Wash
ineton some time later in the week to
decide when they shall resume the
hearings here.
Representative Chiperfield whose clash
es with Thomas w. Lawson enilvened
the hearings held in Washington. injected
some pyrotechnics into the inquiry To-Day
by criticising Attorney Whipples methods
of examining President Noble of the New
York Stock Exchange. who was on the
stand. and declaring that he would have
more to say in the future "as an indl-
vidual member of the committee without
regard to counsel or committee
During Whipple's examination Of Noble
regarding the retiring Of securities from
the market attorney and witness failed to
agree on Interpretation Of pool Whip
pie then asked Noble if he had not had
one thing in mind and said another. Noble
started to reply when Chperf1eld, in a
loud voice. INTERRUPTED.
Mr.. Chairman" he said. Il don't
think the statement of the witness
ought to be impugned." Surprised at
the interruption, committeeman turned
quickly toward Chiperfield. who, ap-
parently excited. started defiantly at
Whipple. The latter. seemingly dis
turbed, paused a moment and then ad-
, dressed Chairman Henry and the Wit
ness. IF 1 impugned the statement OF
the witness l certainly did not intend
to-" he said. DO you think l i'm
Will Follow Own Course.
II want it in the record" Chiperfield
declared. emphatically. that 1 object.
want to say that now. SO that some
, desire to make AS an individual MEM
ber Of this committee 1 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 responded that il it was
thought he had impugned Mr.. Noble he
would apologize.
Il want to say that l. for one, ar
impressed with the spirit Of co-opera-
tpn of these gentlemen" was Chiper-
fields closing comment.
Most of the direct testimony of
Noble today was in regard to securities
withdrawn from the list. He said that
stock in which mere is little dealing
Is usually withdrawn: He also admitted
that shore AexlfnE In narrowly Me1d'
stock was dangerous because OF the
inability of spectators to borrow it.
Expects Some Replies Tomorrow.
At the outset of his testimony today
Noble informed the committee of the
adoption last night of the resolutions
of the boarad requesting the 500 or so
brokerage houses to turn over the de-
sired data to the chairman of the clear
ing house committee for submission
to the rules committees experts. who
will examine them to learn the identity of
the opera tors who were dealing heavily
on the short side of the stock market
prior to the publication of the peace note
Attorney Whipple wanted to know
how soon the first responses might be
expected.
Noble said copies of the resolutions
had been sent the members and that
some replies probably could be expect
ed tomorrow or the day after.
Il think they all realize" he said,
that speed is desired. and those who
are going TO respond will respond as
quickly as possible"
Have you any reason to believe that
any of the members will assume the
responsibility Of not complying with
the request" asked Mr.. Whipple.
The witness said he knew of none
You think there is no question they
will give their cordial assistance to the
committee?
Yes"
The attorney then resumed his exami-
nation of Noble on stock market meth
ods particularly about short sales
Before beginning his testimony Noble
obtained permission to have his counsel
and II. X. Pomeroy, chairman of the
stock list committee. at his side
Asks About Bethlehem Steel.
Before Noble was excused Represen-
tative Bennett wanted to know IL Beth
lehem Steel was not an example of a
narrowly held stock of the kind which
was dangerous for out-of-town specula-
tors to deal in because of the difficulty
in always making prompt deliveries.
Il have read in the newspapers" said
Bennet, that Charles NJ. Schwab con-
trolls so per cent of the stock and that
only 40 per cent is on the market
Would you call that stock narrowly
heid?"
Yes: but there is always plenty in
circulation said the witness, adding
that he did not think Bethlehem a good
example.
Representative Chiperfeld also wanted
to know If stocks ever were held abroad
for purposes of escaping taxation.
Not to my knowledge" replied Noble
Samuel F. Streit. chairman of the
stock exchange clearing house. was
then recalled and examined on the
details of the exchange machinery
To the surprise of the committee,
STREET. contrary to the opinion given
by President Noble. declared that the
data could not he furnished inside OF
two weeks and that some of the
larger houses could not do it in
month.
Whipple finally got him to concede
that by devoting their entire time to
Gathering the information the corr
to hrnkerSt cle .kS IIld