Omaha daily bee., 1917-01-25
CLASH ENLIYENS
INQUIRY INTO LEAK
Mr.. Chiperfield Takes Excep-
tions to Whipple's Question
ing of Exchange Head.
HEARINGS ARE SUSPENDED


today decided to adjourn its New
York hearing on the leak investiga-
ton for an indefinite period. Members
of the committee who planned to re-
turn to Washington will hold meet
ing in Washington some time later IN
the week to decide when they shall
resume the hearings here.
Announcement of this plan came
while the committee still was in ses-
sion with representatives OF the New
York Stock exchange trying to agree
on a request for submission of specific
records to the committee.
When the committee met this
morning Attorney Whipple resumed
his examination OF President Noble
ON stock market methods. particu-
larly about short" sales. Before be-
ginning his testimony Noble obtained
permission to have his counsel and
H. X. Pomeroy, chairman of the
stock list committee, at his side.
Pyrotechnics by Chiperheld.
Representative Chiperheld of Hi
nois, whose clashes with Thomas w.
Lawson enlivened the hearings in
Washington. injected some pyrotech-
MICS into the inquiry today by CRITICS.
ing Whipple's methods of examining
Noble and declaring that he would
have more to say in the future as an
individual member of the committee"
without regard to counsel or COM
mittee.
During Whipple's examination of
Noble regarding the retiring of Sc
curities from the market, attorney
and witness failed to agree on inter-
probation of pool" Whipple then
asked Noble if he had not had one
thing in mind and said another. Noble
started to reply, when Chiperfeld. i'll
a loud voice, interrupted:
"Mr. Chairman he said, Il don't
think the statement of the witness
ought to be impugned."
Surprised at the interruption COM
mitteemen turned quickly toward
Chiperfeld who, apparently excited.
stared dehantly at Whipple. The lat
ter, seemingly disturbed, paused mo-
ment and then addressed Henry and
the witness.
"If | impugned the statement of
the witness, certainly did not intend
TO-" he said.
Will Go 1t Alone.
81 want it in the record" Chiperheld
declared emphatically, that | object.
| want to say that now SO that some
day | can make a comment which
desire to make. As an individual
member of this committee | am going
to follow certain lines without regard
to counsel or the rest of the commit
tee"
Chairman Henry explained that he
did not think Mr. Whipplc intended
to impugn the statement of the wit
ness.
Mr.. Whipple responded that if it was
thought he had impugned Mr. Noble
he would apologize.
81 want to say that |, for one, am
with the spirit of co-opera-
ton of these gentlemen" was Clipper
fields closing comment.
Whipple then said he did not de-
sire to examine the witness further.
Most of the direct testimony of
Mr.. Noble was in regard to securities
from the list. He said
that stock in which there is little
dealing because of its scarcity on the
market is usually withdrawn. He
also admitted that Short" dealing in
narrowly held stocks was dangerous
because of the inability of spectators
to borrow it.
Asks About Bethlehem.
Before Noble was excused Repre-
sentative Bennett wanted to know if |
Bethlehem Steel was not an example
of narrowly held stock of the ex-
change which was dangerous for out
of-town SPECTATORS to deal in, be-
cause of the difficulty in always max
ing prompt deliveries.
Il have read i'll the newspapers"
said Bennett, that Charles Nj. !
Schwab controls 90 per cent of the
stock and that only 40 per cent is on
the market. Would you call that stock
narrowly heidi"
Yes, but there is always plenty
in circulation" said the witness, add
ing that he did not think Bethlehem
a good example.
Representative Chiperheld also
wanted to know if stocks were ever
held abroad for purposes of escaping
taxation.
Not to my knowledge" replied
Noble.
Samuel F. Streit chairman of the
stock exchange clearing house, was
then recalled and examined on the
details of the exchange machinery