The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1917-01-06

on the reputation of more than one
perfectly innocent man.
This danger 1 felt was not imag-
mary and yet 1 believed that in the
. interest of representative government
and for the good name of Congress
men. an Investigation ought to be
held. Accordingly, I telegraphed
Representative Wood of Indiana as
follows:
In my opinion the investigation
OF Lawson's charges presents
question of the privileges of the
House. If so. the Speaker is bound
: to recognize you and you can pre-
sent some sort of a resolution with
out the consent of Chairman Henry
or the Committee on Rules. Should
be glad to support you in person
but cannot get to Washington till
Wednesday morning and must leave
for Detroit late Wednesday after
noon.
stopped In New York.
"on my way from home to Washing
ton stopped off in New York and con-
WINGED myself that the precipitate
selling OF war stocks previous to the
official announcement of the Presi-
dents note was recognized as con-
elusive evidence of a premature dis
closure, or a leak, as it is popularity
called.
1--WE all know that the Presidents
note was released for publication at
1905 a. m. December 81. Let us
observe the course of events, begin
ming a day or two previously, as re-
vealed by the press.
ION December 10 Lloyd-George de-
liversd his speech on Germany's peace
proposals.
This was followed on the goth by
the statement of Bernstorff that Ger
many would meet the demand of the
allies for peace terms.
Bearish Adviees.
"While the Wall Street Journal on
the Goth stated that there would be
dent Wilson, the New York Evening
Sun on that date reported rumors
and hints of the sending of such a
note in the following terms, to wit:
The Washington advices were bear
ish, these saying that President Will
son may address foreign powers on
the peace proposals.
Where did the New York Sun get
see indications of a leak But here
Is an absolutely definite visible water
mark of a leak. This slip, which l
am reading is a transcript from the
ticker record of Dow, Jones y Co., of
New York. At 2.05 p. m, on December
20, four hours before the Presidents
note was given to the newspaper men.
Dow, Jones & Co.'S news ticker car
~Tied this statement:
The renewed selling of the mar
Ret is due to reports received by
broJ0rs' private wires from WASH
fngton to the effect that the Ad-
ministration will, in the near future,
address to the belligerents some
suggestions or proposals in regard
10 peace. Nothing definite is OBJ
tainable in Administration circles.
Four Hours Before.
mind you this statement was
made four hours before the news of
the Presidents note was given out
There is your proof of a leak. Mira
cles don't go on the stock exchange.
Dow, Jones & Co. are not prophets.
''Ou the 21st the report of the
peace note was published in the
morning papers, having been made
public the night before, and The
break in the stock market occurred
on the 21st Both the Wall Street
Journal and the New York Evening
Sun reported rumors of leak and an
impending investigation. The note
was signed and sent by cable to the
European powers on Monday, Deem
Der IS. Following the publication IF
the note on the 21st appeared Secre-
tsry Lansing's comments and his ex-
PLANTATION thereof.
saTha
tendency in the stock market is
first apparent between I2:45 and 1:45
of December 10. U. S. Stell had OPEN
ed at 10 o'clock at 113k and had risen
as high as 116B. Between l2:45 and
AS a steady decline began bringing
it down from 116h to as low as lO9%
between 1:45 and closing, and closing
Il at 112.
Opened at 1I2.
ION December 20, It opened at 112
and remained practically stationary
until 12:45. Between 12:45 and LAB
It dropped from Ills to no. Be
tween las and closing. 1t continued
its downward course, closing at 10S.
Then came the publication of the
note.
"On December 81, it opened at 1O4h
and showed an upward tendency I'M
til almost non, rising as high as 106k,
Between Has and 12:45 a steady
drop bringing it as low as 1929
Between 12:45 and closing, the drop
continued, touching its lowest point
at 10OB and closing at 101.
ION December %, it opened at 104
and steadily and evenly rose, closing
at 1918.
My counsel, Judge William n. K.
Oloott Of New York, is unavoidably
absent in court today, but he will be
in Washington Monday. He will
present TO you a complete comparison
of the course of prices on the New
York Stock Exchange, side by side
with a statement of the news and
rumors from Washington. This COM
parison presents a chain of events
which beyond peradventUre of DOUBT
proves the existence of a leak.
Would Have Act.
'If you find a prima facIa case that
there was a leak, you cannot take the
position that you will do nothing at