Omaha daily bee., 1917-02-01
DOES NOT KNOW
WHERE HE GOT 1T
CONTINUED from Page One.)

Ills CuStOHleIS Hau an nOuf leeWay
to sell before the market closed. They
were long in the aggregate about 54O,-
600 shares. He was of the opinion that
few needed the warning, but promised
the committee to furnish the exact
amount of selling orders that came in
Hutton said that the information he
had on the peace note mad little i'm
preston upon him. What killed the
market" was Secretar. Lansing S
verge of war" statement, he said, the
day the presidents note was for
warded, December Fl.
Customers of the Connolly firm dur
ing the peace period" in the market
lost $4,000, it was brought out,
Mr.. Hutton's Testimony.
More light on the kilograms which
went over the Hutton wires on De-
cember 20 was sought by the COM
mittee counsel from T. F. Hutton,
when the hearing was resumed.
Whipple tried to find out just when
the Connolly telegram was received
in the Httton Office. He called at
tention to the time the confidential
telegram from Clement, Curtis & Co.,
was received, l2:48 p. m.-with its
intimation that peace statement
was forthcoming from Washington
and produced from the brokers files
a new telegram which was sent out
by the firm at l2:5 p. M, which
read:
Stock fash All: Reports have it
that State department will issue state
ment today intended to promote
peace prospects.
III. G."
III. c." explained Hutton, was a
telegraph operator named Toomey,
employed by the firm, who some
times sent out messages on his own
initiative.
Had you received at that time
the Connolly message?" asked Whip
pie.
Il could not say" replied Hutton
Had You received any oral intel
ligence'"
Not to my knowledge replied
the witness, adding that he did not
know why Toomey had sent the mes
sage.
At this point the commission or
dered that George A. Ellis, jr., of the
Hutton firm, whose name was signed
to the 81 telegram, giving re-
sumo of the peace note, be mmedi-
ately summoned. Ellis is i'll near Sa-
vannah, Ga.
Hutton Immediately sent a mes
sage to Ellis over his firms private
wire asking him to come to New
York. He is expected to reach here
Thursday night and appear Friday,
Hutton Customers All Long.
None of the nine partners of the
Hutton firm, said the witness, dealt
in the market on the information re-
ceived in the telegram. Hutton said
that he himself had been short 1000
shares of Utah Copper and a few
share of other securities before De-
cember 20, but that he had covered
prior to that date at a profit of $22,-
600. He did not himself sell on the
strength of the Washington informa-
ton.
Just what the volume of selling for
his customers account was on De-
cember 20 after the Ellis message
had gone out, he said. it would take
time to ascertain, Blu on that night
his books showed that the long inter
est of his clients aggregated $4,000
shares and the short interest about
$4,000 shares. Connolly & Co.. he
said, were on December 20 short of
no stocks whatever,
Lansing Causes Break.
what broke the market" said
Hutton, was not the peace note. but
Secretary Lansing's verge of war
statement"
But that was on December D."
remarked Whipple.
Eyes, but that's what has killed the
market"
From December 9 to December q,
Hutton said, the clients of the Con
molly firm lost $4,000 in transactions,
$4,000 being sent to Hutton & Co.
and only $4,000 being restored.
Up to Connolly.
Representative Bennett developed
through interrogating Hutton that
the wire Thompson McKinnon
of Chicago sent to their Oshkosh,
Wis, branch on the afternoon of De
cember 20, advising customers to sell
on account of the coming OF the
peace note, was traceable to Ellis
message.
Bennett called the attention OF the
witness to testimony by newspaper
men in Washington that Secretary
Lansing in telling them the note was
forthcoming had given them an i'm
preston as to contents exactly oppo-
site to what it really was
1.-THE only substantially accurate
forecast of the presidents note which
has come to the attention Of the COM
mittee thus far" SAID Bennett, rs the
one sent to you by Connolly, How
do you account for that
II don't account for it. That's up
to Connolly" said Hutton,