Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-01-31
SOMEONE READ NOTE
Continued from Page One)

Boiling as one of the partners, and ask
ing if the Hutton firm would become its
New York correspondent Hutton said
the fact that Boiling was to be a mem
Der of the firm had made no impression
upon him. He denied that Connolly had
said anything of an expectation of get
ting high class customers through
Bollings relationship to the President.
The Connolly account, he said, however,
had been very attractive
Whipple then had Hutton produce
messages which had gone over the
firms private wires during the peace
period" in the stock market and which
he had been commanded to bring, I'M
Ger subpoena. The first to be read was
the Clement. Curtis Co. telegram mark
ed Confidential" timed 124S o'clock
eastern time, which was about an
hour and a quarter after Secretary
Lansing had told the newspaper men
IL Washington that note was coming
from the President. Il hear that state
! department will issue statement today
regarding economic conditions Euro
pean war as affecting neutrals." the
Clement mess ge said. Intended to
promote peace prospects. What you
think Of this and how are YOU on
stccis"''
CLEMENT"
The next was Huttons reply to this.
timed ia j. NJ which read: Our
Washington wire gave US similar mes
SAGE to yours. Others have the same in
formation. We put it out as it was
more or less generally known. Your
message was marked confidential and
we treated it so
"E. F. H.
| Some time between the recent of
the Chicago message and Hutton's re-
| ply TO il the nov missing MESA sc
! from Connolly was received. Hutton
testified. This was the message on
which Ellis based his message AZ Ia
O'Clock which follows:
I We arc cor fidentially Informed a
| highly important message to all bellic
/ crentS and neGtrals has been issued
I from Washington Interpreted not as
/ pressure on teliGerents in h, half of
peace, but rs one apparently to M,
American demands on record to no
| considered if there Is peace and warn
ing neutral rights must not be further
| encroached upon. Full text to be given
out tonight anG will be looked on as
a move of great moment"
Questioned on the lost message from
Connolly, Hutton said it was of class
his firm seldom saved Connolly also
had not KEPT a copy of it, he said but
added the Washington broker tomor-
row would testify fully before the com
mittee
Hutton also produced other communi-
cations his firm had sent its CORE
spondcnts in which reference was made
to various Washington situations. One
of them said it was understood that
the Presidents message Of last Decem-
Der !, the opening day of Congress.
would be favorable to railroad invest
mentS. Another written by Hutton DER
sonally said that "Nashington advices"
were that increased freight rates prob
ably would be granted the railroads.
| Replying to sharp questioning by Mr..
! Whlpple, Hutton said he did not recall
any particular advices he had in mind
other than general impression he had
gained from the newspapers and the
ticker. He volunteered the statement
'iicN ny nav itdi iitu nOInl0R IN this
connection from MI. Boiling or Mr.. Con-
nelly.
| While describing the nervous state
OF the financial district shortly prior to
the issuance of the Presidents note.
owing to the top heavy speculative ac-
counts amaSsed by the public" Hut
ton gave the committee shock BY cas-
ualy announcing that his firms out
standing loans against margined ac-
counts aggregated s2800O, 900. This
condition. he said, was general and was
regarded by bankers as dangerous
| oNor-eXtension that might result in a
panic The bankers had begun to call
| loans. he said, with the result that he
had ISSUED a notice that his firm would
not do business except for cash or so
per cent. margin to the security.
Hutton was preceded on the stand by
Benerd Baruch, a large Wall Street OBJ
orator, who testified that solely by the
use Q. foresight he had made S476.16S
/ By selling short between Dec. 10 and
Dec. %. Baruch again declared he had
received no advance information on the
Presidents peace note.