Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-01-31

and Lawson talked about at their vari-
Gus meetings in New York about the
time tho peace situation was a big
factor in the stock market White
said they talked "in general terms"
about tho war and its economic ef-
focts" He could not recall ever hav
ing discussed the German peace pro-
ply. or the arrival of the Deutschland
and tho C-S3, "or President; Wilson's
attitude"
You had advance information on the
arrival OF the C-53, didn't you?" asked
Campbell.
Il did not. | knew nothing OF it
until | saw il i'll the newspapers.
"Do YOU think Lawson ought TO be
III an insane asylum or behind the bars
which,"
II have no opinion on that. l, is not
within my jurisdiction replied tho
witness with Il laugh
DID NOT THINK MENTION
OF HIS NAME IMPORTANT
"pidn; YOU realize when YOU saw
Lawsons testimony published that
there might be an issue OF perjury
ra iscd between YOU and him? How was
il YOU made no effort 10 have him re-
trGCt?"
This is my first appearance before
tho committee" replied White. and
| didn't think the manner in which he
mentioned my name very important
DO YOU think" interrupted Repre-
sentative chiperticld. that your con-
vcrsations with Lawson were equivn-
lent To a fuil course in romance litera-
turc"'
II couldn't say that. didn't take
his conversations seriously
Barney Baruch was then called 10
the stand
Baruch declared voluntarily that he
was ready To answer any question fully.
ION December IL he said. he bought
1000 shares OF steel. expecting ii TO
rise but 1t didn't" and lie sold the
followins day At loss OF about
points. Then came the address Of Won
Eethmaun liollwcs III the ReichstaS
regarding peace, Raruch said and
forcseeins the effect the speech would
have on the market on December Is
he sold short. dealing in $500 shares
OF steel shat day.
Earuch declared he believed history
would show that Won Bcthmann-Iloll-
wcS's speech marked the turning point,
toward peace.
Il realized" he said. tina, the PEG.
PIES minds heretofore th!nl,imx only
= war, would turn to thinking OF
peace. that outside Of The better
things they would think Of what CT
iccs peace would have on business and
finance, and that u man ought ~ act
quickly in selling securities"
Baruch said he was guided in deal
"a ON, ri,n "a, I,. IN IN
ton CLEANED from ticker service
and tho newspapers. lie always bought
securities outright. he said
GOES TO own OFFICES
AND BEGINS 10 SELL
When he learned OF the Bethmann-
loliwcS speech. Baruch said. he was
n tho Office OF another firm nesotiat-
ing the purchase OF some securities.
4 didn't buy them" he SAID. Il ven,
haci, ia MY own Offices and began TO
sell everything had
tie said he sold steel because lit
vas practically a; the top
The technical situation was bad"
he said. "hut the Bethmamn- Ilollweg
speech WAS the principal reason sold.
and that speech still hangs like a pail
over the situation
Mere YOU watching for peace"
II knew when peace came i; was
going 10 raise the mischief in the mar
kct"
The broker said tina, his own men
tai operations undoubtedly repre-
scented those o, all ~ho deal, in the
stock market
Baruch went into detail as TO his
stock markc; operations. on Decem-
Der Il he SOLD short 500 more shares.
bringing his commitments up TO -, 900
silares.
on December IS the market broke
and he covered ~ buying in all bu,
1000 shares. He had gone short he
said. at around l23 and covered an
average Of ilo
on December 10 he sold short again
1000 shares. and or December 10 went,
short 2s,+o0 more. on December 20
he covered 1900 shares, reducing hi.
short account 10 $500
Between Decemb,r IA and D.c.Dh.r
% his net profit vas s47slss47. he
testified.
Touching on lis december i. deals.
Whippie asked ba~,cl Il rhey we're
affected by any Information from
N"H''Ht ION !esHrAlnr III" aG!n!n.st-a-
tons attitude toward peac.
''\hsoiute!y NOT" ~ r.pl!.d
Did you receive any information
from Wash!ns,on regarding the aa
'h'n!s'fa'ion'& a',i,lce?' Whipple
asked
"Absolnte!v not" he reol.ea. III, I
had known OF ne President. note mat
day could nave stsr,"d in Al 10
o'clock ana sold all dsy
bhtuch SAID no mad ANTICIPATED tn,
Lloyd George sp.ech replying 10 HE
"'rm"n peace proposals. on December
10
BaTucn Has asked = h. cons.A.:.d
MS operations a. INK ume large.
oh. they were fair operations. but
I've done larger"
GENERAL DENIAL
Of ADVANCE NEWS
general Ge,'a! IA, 1r.-ea nv
BaTuch that he mad an coranun!cs.!on
with any one IN Washlns,on abag. n.
;iine Of ,he Pfe,idsnts n.ace nate IN
regard 10 it,
bsruch seid n. never 'si<~f ~.
me telephone w!th ascr.t.ry T.taul.y.
4