Norwich bulletin., 1917-01-24
Brokers Must
 Produce Records
ORDER GIVEN FOR LEAK" IN-
 QUIRY IN NEW YORK
DEMAND REAL NAMES
Upon Demand of House Rules Com nitee the Board of Governors of the Stock Exchange Has Called on Members to Produce Records.

New York, Jan. 23.-Confronted with threat by the house rules com mittee in charge of the '1eak' inquiry to force the production of brokers rec ords, if not produced voluntarily, the board of governors of the New York stock exchange tonight requested ev- cry member of the exchange to make available for the committee the de- sired data. The records sought cover a period from Dec. 10 to Dec. 23, dur ing which time, it is alleged, persons ir possession of advance information on the presidents peace note made huge profits in the stock market.
 "ReaI Names" of Customers.
 The action of the board followed mo- tice given by the rules committee dur ing it's session here today that action on the committees request for the production of the brokers accounts, in- cluding the real names" of customers who dealt in the market during the period mentioned. and the extent of their operations on either side of the account had been postponed.
 Force Production of Records.
 Surprised and indignant over the action of the board, the committee mo- tified H. G. s. Noble, president of the Sel brought news of the postpone ment, that it would not modify its re- quest in any manner. If the board had any suggestions or notifications,
 
 receive them, but if it failed to obtain the production of the desired accounts the committee would exercise it's power and force each broker individually to produce them Prompt compliance by the board of governors, the committee made clear; was desired.
 Noble explained the reason for the postponement was that the production of the accounts would prove great hardship to many brokers ''who are m TIT n that the board was in doubt as to it's power to compel the members of the exchange to produce their records
 Brokers Are Averse.
 Noble's counsel. Samuel L. Taylor also explained that the brokers were records to the Committee through fear that many innocent purchasers names would be made public. Rela- tions between broker and client were regarded in the street, he said, quite as confidential as those of lawyer and client.
 Not to Make Names Public.
 Both Chairplan Henry of the com mittee and Sherman l.. Whipple, it's counsel hastened to explain that 1t was not the committees desire to make public the names of any one whose transactions would not tend to throw light on the leak rumors and that the names revealed bably would not be numerous Whipple said that he was willing the real names should be given the chairman of the stock exchange clearing house com mittee in sealed envelopes, to be open ed and examined by the expert ac- countants of the committee only if de- in the inquiry appeared to make t cir examination material.
 Names in Sealed Envelopes.
 The offer to receive the names in sealed envelopes apparently appealed to the board of governors, for in a set of resolutions adopted at their hastily called second meetinf- MT. Whipple's words virtually were incorporated.
 The resolutions ask specifically that the members provide the chairman of the clearing house committee with statements showing on what stocks customers were long and short at the end Of each day between Dec. 10 and 1 Dec g, the real names of the custom CTS. the stocks they dealt in. and the i number of seares each. What clearing | house stocks were borrowed, when and ] from whom borrowed, and when re- !; turned, also are to be included.