South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-01-23
H. G. S. Noble Sketches the
Technical Details of Stock
Transactions Under
Whippe'S Direction.
HAD READ OF POOLS
IN THE NEWSPAPERS
Names of Big Dealers in
Stocks During Week Viii
sons Note Was Sent Are
Sought by Committee.
International News Service :

international News Service;
NEW YORK, Jan. 2S.- The
searchlight of publicity was on the
inside workings of the New York
stock exchange today as the house
rules committee began following the
pipe lire through which. il is al
legged. advance news Of Pest WI
sons December peace note leaked 20
Wall St
Il. G. 5. Noble, president OF the
New York stock exchange. was the
first witness and after the first tran
Gull preliminaries, he and Sherman
whipple, the committees counsel
promptly engaged in a battle OF wits.
Under Whipple's direction, PreSt
Noble sketched the technical details
Of stock transactions. The Boston
lawyer skiufully led the witness up
through the maizes OF selling
short and selling long" Then ne
suddenly popped this question;
"Do you. as president OF the ex-
change. have cognizance OF such
things as pools Of men forming 10
manipulate the market by com bina-
ton, say on important neWs?'
Pres't Noble replied that he had
read of such things in the news
papers" but had no personal know
ledge OF them
Want BOOIies' Books
Before Mr.. Noble was excused
from the stand whipple asked il he
would request the board OF govern
ors OF the exchange to send a request
20 all It's brogerage houses that they
must submit 10 the committee al
their books showing stock transac-
lions during the week Of Dec. IS
the week Of the peace note was
sent.
IF the books were not produced.
the committee would take steps 10
get them.
What IS particularly wanted.
Whippie said. was the names Of big
dealers in stocks during that week.
Prest Noble said ne would ask the
board this afternoon 20 comply with
the request
Noble was then excused and was
followed on the stand by Samuel
STREET. chairman of the clearing
house committee or the exchange.
The committee recessed at
O'Clock and STREET. was told TO return
at ? p. m. for further examination.
Whipple Takes Floor.
Mr. Whipple took the floor at the
outset He began by outlining 70
the committee what he believed 20
be the scope OF the Investigation.
The work Of the committee. as 7
see it, said Mt Whipple. divides
itself into three parts. They NAV
be enumerated as follows:
First What transactions did
occur on the View York exchange
during these three days? CDec. -.
%. 21)
"Second-Were large profits and
losses made by these transactions
"Third-And vastly more import
ant. who made these profits and
were they made by a part OF a pre-
concerted scheme based on advance
information Of the peace negotiations
from washington o."
Not After Innocent.
SO attempt Mr. Whipple said
10 involve innocent
parties"
After a short preliminary state
ment Mt whipple said with the
permission he would
call the first witness
II. O. 6 Noble. president Of the
New York exchange, took the stand.
He was sworn BY Chairman Henry.
els il the committees wish that I
proceed with the questioning9''
asked whipple. 10 was
Mr. Noble a short. typical bug
mess man. said he had been pres
ident OF the exchange since Nay.
1914. that he was familiar with the
operations Of the exchange and that
he himself had been broker.
Whipple's Manner Polite.
Nr WhipDIe began the question
ing in q very quiet and polite man
ner His voice was 20 low that n
could be heard only with difficulty
.n the remote corners or the long.
narrow room u was more like
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