Pine Bluff daily graphic., 1917-01-31
N0TC LEAK TRACED CLOSE TO bR0THEk-
 IN-LAW 0F PRESIDENT
Continued from page oae.>

Curtis &. company telegram, marked confidential" timed 12:4S D. m., Eastern time, which was about all hour and a quarter after Secretary Lansing had told newspaper men 'l Washington that the note was com ing from the president.
 "I hear that the state department will issne statement today regard ing economic conditions European war is affecting neutral" the Glenn ent message said "Intended to pro- mote peace prospects. What do you think of this, and how are you on stod1? (Signeb CLEMENT"
 The next which was timed 1:45 D. m, was the reply to tho Clement mes sage. It said.
 Our Washington wire save Us similar message to your. Others have the same information, We put it out as it was more or less generally known. Your message was marked 1 Confidential and we have treated 1t so. (Signed) E. F. H."
 l Some time between the receipt of the Chicago message and Hutton's reply the now missing message from l fled. This was the message on which Ellis based his message, sent out at 1:44 D. nl., and wnich said:
 We received confidential informa ton of highly important message 0 all belligerents and neutrals has beon issued from Washington. Interpreted not as pressure on belligerents in be
 half of peace, but as one apparently to put American demands on reiprf to c considered if there is peace, anC warning that rights of neutrals mus.
 not be further encroacaed upon. Ful
 text to he given out tonight, and vii be looked on as move of greatest mo ment."
 Hutton also produced other com munications his firm had sent cor ; respondents in referende to various . Washington situations. One of then
 said it was understood that the presi
 dents message of December 4, at tn
 opening. of congress- would be favor
 able to railroad investments. Anothe
 written by Hutton personally, sait
 that Washington advices" were tha
 increased freight rates probabi } would be granted the railroads. Got Information From Papers. Replying to sharp questioning b Whipple, Hutton said he did not re , call any particular "Washington ad vices" he had in mind other tha
 general impression he had gaine
 from newspapers and ticker II volunteered the statement he ha : learned nothing from Mr. Boiling 0 5 Mr. Connolly. He also asserted hi l firm had no sources of informatio l in Washington outside the Cornell c company.
 While describing the nervous stat
 of the market shortly prior to tn
 issuande of the peace note, owing ,
 the heavy speculative account } "amassed by the public,' Hutton gay . the committee shock by casual
 announcing that his firm had stand l ing loans against margin account
 aggregating $2S,000,0O0 This cond ' tion, he said, was general and wa
 regarded by bankers as dangerol
 overeXtensiOn that might result 5 panid The bankers had begun to ca ] loans he said, with the result that I s Tad issued notice that his firm wou , not accept business, except for cas s or on 50 per cent margin, accordir D to the security.
 l Hutton was preceded on the star n by Bernard Baruch, Wall stre :. speeiulator who contributed $50.O0O z. the Democratic campaign fund, WI :, testified that solely due to his for sight in predicting results that wou D follow the speeches of Chancellor vt t Bethmann- Hollweg of Germany al l. Premier Lloyd George of Great Bri
 ain, he had made $476,169 by sellil
 short between December 10 and D
 cember 23. Baruch again declar :, he had received no advance inform tion on the presidents peace note. D Message Based on Rumor.
 Pasedena. Cal, Jan. 30.-Rumo