Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-01-31
BROKER RECORDS
BRING OUT PROOF
OF PEACE LEAK"
CONTINUED FROM pAGE ONE

CONTINUED FROM PAGE ONE
denied that Connolly had said any
thing Of an expectation of getting
"high-class customers" thru Bolling's
relationship TO the president. The
Connolly account he said however
mad been very attractive"
Produces Message.
Whipple then had Hutton produce
messages which had gone over the
| firms private wires during the
! peace period" in the stock market
The first TO be read was the Clement.
Curtis Co, telegram marked
| confidential" timed 12:4S o'clock,
eastern time, which WAS about an
hour and a quarter after Secretary
Lansing had told newspaper men in
Washington that a note was coming
from the president.
Il hear that state department will
Issue statement today regarding eco
nomic conditions European war as
affecting neutrals," the Clement mes
sage said. Intended to promote
peace prospects. What do you think
of this and how are you on stocks?
Clement"
The next was Hutton's reply to this.
timed at l:l4 p. m, which read: "Our
Washington wire gave us similar
wire TO yours. Others have the same
Information. We put it out as IL w.t.
more or less generally known Iour
message was marked confidential and
we treated it so. r.. II. H."
The Missing Message.
Some time between the receipt OF
the Chicago message and Hutton's re-
ply to it, the now missing message
from Connolly was received, Hutton
testified This was the message u,
which Ellis based his message at 1.Ji
o'clock, which follows:
I'VE are confidentially informed n
highly important message to all bellig-
cronts and neutrals has been issue,.
from Washington. Interpreted nol lie
pressure ON belligerents in behalf o
peace but as one apparently to put
American demands on record to ne
considered If there is peace and warn
ing neutral rights must not be further
encroached upon. Full text to be
given out tonight and will he 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. Con-
nelly has not kept copy of It, he said,
hut added the Washington broker to.
morrow would testify fully before the
committee.
munications his firm had sent it's
correspondents in which reference
was made to various Washington stu
auons one OF them said it was un-
derstood that the presidents mes
sage of last December 4, the opening
day Of congress would he favorable
TO railroad investments. Another
written by Hutton personally, said
that Washington advices' were that
increased freight In h1N
would be granted the railroads.
Memory Poor.
Replying TO sharp questioning by
Mr. Whipplc. Hutton said he did not
recall any particular advices he had
in mind other than a general impress
sion he had gained from the news
papers and the ticker. He volunteered
the statement that he had learned
nothing i'm this connection from Mr..
Boiling or Mr.. Connolly. lie also as
serted that his firm had no sources
of information in Washington outside
| of the Connolly company.
While dcciphering the nervous state
( Of the financial district shortly prior
/ TO the issuance OF the presidents note,
owing to the top-heaVy speculative
accounts amassed hy the public"
Hutton gave the committee n shock
. by casually announcing that his firms
: outstanding loans against margined
accounts aggregated $2S,O00,O0O. This
condition, he said, was general and
was regarded by bankers as a danger
. GUS oVcr-eNtonsion that might result
I'm a panic. The bankers had begun
to Call loans, he said, with the result
that he had issued n notice that his
firm would not do business except for
cash or so per cent margin, accord
ing To the security.
Hutton was preceded on the stand
10y Bernard Raruch, large wall
street operator, who testified that
solely by the use OF foresight he had
made $476,16S by selling short he
tween December 10 and DecSuber
\ l3. Baruch again declared he had
received no advance infomatiGd on