Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-01-24
Brokers on Stock Exchange
Asked to Assist In
LEAK" Inquiry.
CHIPERFICLD AND
WHIPPLE CLASH
mittee Disagree Over Methods Of
Questioning Witnesses - Head Of
Stock Exchange Questioned as to
Methods Of Doing Busness-Insists
Firms Must Be Given Time.

New York, Jan. 24.-The house rules
committee in executive session today.
decided to adjourn the New York hear
ing on the leak" investigation for an
indefinite period.
Members of the committee planned to
return to Washington this afternoon
'and will hold a meeting in Washington
later in the week to decide when they
will resume hearings here. Announce
ment Of the plan came when represent
atives Of the New York stock exchange
were trying to agree on a new request
as to the manner of submission of rec
ords to the committee.
New York, Jan. a4.-The members
Of the New York stock exchange who
have been requested by their board OF
governors to make available for exami-
nation by the rules committee Of the
house the record of their transactions
during the period when Wall street is
supposed to have received advance in
formation of the presidents peace
note, are not expected by the board
Of governors to withhold the informa-
tion. This assurance was given the
committee by President Noble. of the
exchange, today.
Mr.. Noble appeared to inform the
committee of the adoption last night o.
the resolutions of the board requesting
the 500 or so brokerage houses to turn
over the desired information to the
chairman Of the committee TO be ex-
amined by experts to learn the iden.
tity of brokers dealing heavily on the
short side Of the stock market prior
to the presidents peace note publica-
ton.
Counsel Whipple wanted to know at
the outset how soon the first responses
might be expected. Mr.. Noble said
copies of the resolution had been sent
the members this forenoon, and prob
ably y-some replies. might be expected
by tomorrow or the day after. Ths
attorney then resumed the examination
Of Noble on stock ma rket methods. Be
fore beginning his testimony. Nobie
obtained PERMISSION to have his coun-
sci, II. X. Pomeroy. chairman Of the
stock list committee. at his side.
Chipsrfield STARTS Fireworks.
Representative Chiperfeid. Of Illi-
nois, whose clashes with Thomas w.
Lawson enlivened the hearings in
Washington. injected some pyrotech-
MICS into the inquiry today by critl-
cizing Whipple's methods Of examining
Noble and declaring that he would
have more to say in the future as
an Individual member of the commit
tee without regard to counsel or COM
mittee."
During the examination of Noble as
to the retiring Of securities from the
market, attorney and witness failed to
agree on Interpretation Of a poll
" nipple then asked Noble if he had
not had one thing in mind and said
another. Noble started to reply. when
Chiperfield, in a loud voice. inter-
ruptsd:
"Nr. Chairman, don't think the
statement Of the witness ought to be
impugned.' H..
Surprised at the interruption, COM
mittemen turned quickly toward Chip
erfield who excitedly and defantiy
glared at Whpple. The latter. SEEM
ingly disturbed, paused a moment and
then addressed Henry and the witness.
Offers to Apologize.
IF I impugned the statement Of the
witness, certainly did not intend to"
he said.
II want it in the record" Chiperfield
emphatically declared, that object I
want to say that now so that some day
l may make a comment which 1 desire
to make As an individual member of
this committee am going to follow
certain lines without regard to the
counsel or other members Of the COM
mittee."
Mr.. Whipple said that If 1t was
thought he had impugned Mr.. Noble
he would apologize.
II want to say that I, for one, am
impressed with the spirit Of cooper
alton OF these gentlemen" was Clipper
fields closing comment.
Whipple then said he did not desire
to examine the witness further.
Some Deals Dangerous.
Most Of the direct testimony was in
regard to securities withdrawn 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 deal
ing in narrowly-held stocks was dan
gerous because OF the inability Of spec
ulators to borrow 1t.
Before Noble was excused Represent
ative Bennett wanted to know If Beth
lehem Steel was not an example of the
NARROWLY held stock Of the kind which
was dangerous for out OF town specu-
lators to deal in. ~
II have read In the newspapers" said
Bennett, that Charles NJ. Schwab con-
trolls 60 per cent of the stock and that
0,,::s; 20 .er cent is on the market
would you cail.that stock narrowly
heidi"
circEiation." the witness said. adding
that he did not think Bethlehem a good
example
Representative Chiperfield wanted to
know II stocks are ever held abroad In
order to escape taxation.
"Not to my knowledge" said Mr..
.