The Barre daily times. (Barre, Vt.) 1897-1959, 1917-01-31
DENIES INFORMATION
CAME FROM BOILING,
WILSON'S RELATIVE
r. A. Connolly, Partner with Boiling in
Brokerage Firm, Said 1t Was
Cleaned From General
Talk.

l
New York, Jan. 3l.--Findimg furthe
examination to-day barren of result a.
far as showing the origin of information
on which the stock brokerage firm Of Il
+. Hutton & Co. warned it's customer
that the presidents peace note was to b.
issued, the congressional leak inyestiga
tion committee decided to summon
George A. Ellis, ir., member of tn,
firm who wrote the warming telegram
He is in the South.
/ H. A. Connolly, head Of the Washing
ton brokerage firm who furnished Huttor
with the information, is expected to take
the stand later to-day. Connolly, on his
arrival from Washington, denied that the
informa tion came through r. w. Boiling
the presidents brother-in law and q
member OF the firm, He said it was
gathered merely from general talk
around Washington,s
| Hutton testified to-day that although
he was in possession Of the information
az TO the presidents note at least two
hours before the market closed on Dee
| 20 neither he nor any Of his eight part
ncrs took advantage Of 1t. He said that
the information he had on the peace
note made little impression on him.
What "killed the market" was Lansing y
"verge Of war" statement the following
day.
That an accurate summary of Presi-
dent Wilson's note was flashed over the
country on the private wires OF Il. r.
Hutton & Co. several hours before the
note was released for publication on Dec.
20 was brought ont Yesterday afternoon
in the examination of Edward f. Hutton,
senior partner in II. n, Hutton & Co.
Through Mr.. Hutton, Sherman T..
Whipple of Boston. counsel for the COM
mittee, sought to show what connection.
sending OF advance Information on the
presidents note from Washington to
New York.
The inquiry developed the fact that
Mr. Hutton's firm received its first "tip"
on the peace note from Chicago at 1888
noon, Dee. 20, about four hours before
copies OF the note were handed to news.
papermen BY Sec. Lansing.
At the hour mentioned f. r. Hutton &
Go. received over its private wire. from
Clement, Curtis & Co., Its Chicago cor
respondent, this message, dated II 57,
Chicago time.
Il hear that the state department win
issue statement today regarding eco
nomic conditions and European war as
affecting neutrals, intending to promote
peace prospects. What do you think Of
this and how are you on stocks?
"Ciement.. !.
AT lila II. r. Hutton & Co, sent this
answer 10 Clement, Curtis q Co.:
"Our Washington wire gives ms similar
message to yours. Others have the same
and we put it out, as it is
more or less generally known. Your
was marked confidential and
win be treated So"
At l.54 T.. r. Hutton & Co. sent out
to their correspondents, over their leased
wires. this market letter:
I'VE are coniidentially informed That
highly important message to all belliger
ents and neutrals has been issued from
/ interpret it not as pres
sure in behalf of peace, but as an oppor
tunity to put American demands on rec
ord, to be considered If there is peace,
and warning that neutral rights must not
be further encroached upon. Full text to |
be given out tonight and will be looked |
upon as move OF great moment"
This was signed by George A. Ellis, jr., |
/ member of the firm.
Mr. Whipple asked Mr.. Hutton If he /
ould produce the message from Wash |
ngton which was referred to in his an /
wer To Mr. Clement. The witness re.
,lied that he did not have it; that he |
lid not know what had become of the /
'riginal message, and that it was not
he custom of his firm to make copies
Il incoming messages.
Thereupon Mr.. Whipple asked that the
elegraph operator who sent the mes
age, the one who received it, and Mr..
Ionnelly, who wrote it, be summoned.
Mr.. Hutton then stated that Mr.. Con-
elly had left Washington for New York
nd would be prepared to appear before
he committee to-day.
Mr.. Hutton was examined at length as
o his reasons for forming business.
with Connolly & Co He de-
led that the fact that Mr.. Bolling's
resence in the firm had any weight with
i'm.
The witness described, in response to
uestions, the character of the business
one by his house, which has extensive
through the south and west.
Ie said that probably 80 per cent of
he accounts carried by the firm were
n the "long' side of the market.
Early in December the firm became
onvinced that the market was not in
ood condition, arriving at this conclu-
on because of difficulty in obtaining
loney on collateral 1t then had $751; i.
DO 600 in loans. Its loans before the
ar had not risen above Sl2,000,000.
II was scared to DEATH" said the .
illness. "The house therefore issued or
srs to its correspondents TO buy certain
,ocks only on 80 per cent margin, and
,rtain others only for cash. The house 9
1T that the market was tophesvy, and
rat it should guard against enforced
luidation and possible panic. The de- !
ands of the banks for collateral had be. :,
me severe"
After half an hour spent in inquiry
to the publie's participation in the
arket and its possible meanings, Mr..
utton was asked 10 produce his rec
ds of telegrams sent and received by .
l, Il. l.