New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-06
Banker Demands Chance
10 Testify Before House
Committee
WALL ST. AMUSED
BY WOOD INQUIRY
FinancierS Believe Actual
Placing of Blame VIII
Prove Impossible

Yesterdays developments In the
"leak inquiry" at Washington were IN
t.nsely interesting to Wall Street
Many we're amused Some were an
moved. Nobody took the thing In
serious manner.
On hearing that bis name had been
mentioned as one Of the benehciaries
Of tn. leak" Otto II. Kahn, Of the
firm OF Kuhn, Loeb & Co., sent the
following telegram to Representative
Henryi
"The statement reported 70 have
been made before your committee by
Representativs Wood concerning me
Is without the remotest basis Of facts.
had no kind Of advance information
direct or indirect, in connection with
he Presidents note or the so-callee
leak | have never sold share OF
stock short in my life, nor have l ad-
vised any one 10 do so, either on TINS
or on any other occasion.
81 request TO be called before your
committee at once, so that may con
tradict under oath the calumny 10
which Representative Wood has not
hesitated TO give currency not ohly
without a shadow Of justification, but
without the slightest attempt 81 as
pertaining the facts
Mr.. Kahn was extremely indignant
Financiers Partly TO Blame
Wall Street is itself in some meas
ure responsible for what now Is TAX
inc Mace. On December II the pro-
posai Of Germany 70 discuss peace
came as a tremendous surprise 10
stock Exchange spectators.
The smrket was then at the TOP OF
long rise. One group Of spectators
Immediately began 70 sell stocks for
fall, saving that the German overture
no matter what came Of II at nrsI
was really the beginning or the emo
Of the war
It was several days before this view
came generally to prevail; as u dlo;
the selling of securities increased, ana
The movement eliminated in peace
manic" the anti-climaX Of which was
an hours "war panic" on Mr.. Lam
sings famous verge Of war" explana-
tion of President Wilson's note.
The collapse Of the great specula-
ton that had been built upon war
profits cost the speculative public, IN
and out Of Wall Street, great deal OF
money.
losses talked cynically Of leaks" IL
was alleged first that houses with Ger
man connections had been notified in
advance OF the proposal to have
peace parley. and then that others had
bcen Informed beforehand of the Pres
dents note. and even Of Mr.. Lanslngs
explanations.
Baruch Named Early
Names we're freely mentioned
, names Of spectators and Of govern
sment officials. One Of the Wall Street
men named was Bernard NJ. Beruch.
Ft.s was supposed to have made money
BY the fall in the stock market, and 1t
is recalled as a sinister" coincidence
that he had made friends in Washing
ton by contributing 20 the Democratic
campA ign fund.
Mr.. Baruch appealed to the Stock
Exchange for an investigation to deter
mine who had started the rumors, but
nothing could be done about IT,
Wall Street does not take It's own
suspicious seriously.
-. Curtis" Mystery
Efforts to establish the identity Of
"A. Curtis" the mysterious individual
who wrote to Representative Wood that
Bernard VI. Saruch had Smashed the
market heavily" on information he
obtained Of President Wilson's peace
note, were witlEut result.
The only a. Curtis known TO the
Stock Exchange - Allen Curtis, of the
brokerage firm og Curtis & Sanger, AZ