Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1917-01-26
HEARINGS ON LEAK"
CHARGES ADJOURNED
FOR INDEFINITE TIME
House Rules Committee De-
Cides to Delay Probe in Midst
of Testimony Regarding
Wall Street Operations
(By Associated Press.)

pletIlHeu " iSIuih ~ w washington W
day, will hold a meeting in Washington
later in the week to decide when they
shall resume the hearings here.
Announcement of this plan came while
the committee still was in session with
representatives or the New York stock
exchange trying to agree on new re-
quest for submission OF specific records
to the committee.
When the meeting adjourned most of
the committeeman rushed for Washing
ton trains. Sherman L. Whipple, coun-
sci for the committee. detailed what had
taken place in the meeting. He said
President Noble, of the stock exchange,
had agreed to submit to the board OF
governors of the exchange a supplement
al request for certain information" re-
garding market transactions between De-
cember 10 and December % which would
make it possible for the committee to
resume it's inquiry some time next week,
possibly Monday or Tuesday.
The board of governors was to act
on the request today.
NOBLE ON STAND.
II. S. Noble, president of New York
stock exchange, told the house rules COM,
mittee today at the leak inquiry that
ne nrst responses Irom members 10 the
request for record of their transac-
lions in December might be expected by
tomorrow or the day after.
Il think they all realize he said,
that speed is desired, and those who
are going to respond will respond as
quickly as possible
Have you any reason TO believe that
any of the members will assume the re-
sponsIDility of not complying with the
REQUEST asked sherman L. Whpple,
The committees counsel
- ba Of
You think there is no question but
they will give theirs cordial assistance
20 the committee"
"Yes.v
If any individual members decline
to Sccede to the request" remarked tine
attorney. 1.-THE task of finishing the
matter will remain with the commit
tee"
The attorney then resumed his exami-
nation of Noble on stock market meth
DDS, particularly about short sales.
CHIPERFIELD CHIPS IN.
Representative Chiperfield, of Iii
nois criticised WhippIe's methods of
examining Noble.
During examination of Noble regard
ing the retiring of securities from the
market, attorney. and witness failed to
agree on Interpretation of a pool. Whip
pie then asked Noble if he had not
had one thing in mind and said another.
Chiperfeld Interrupted.
''Mr. Charman," he said II don't
think the statement of the witness
ought to be impugned."
Chiperfeld, apparently excited, start
ed definitely at Whipple. The latter,
seemingly disturbed, paused a moment
and then addressed Chairman Henry
and the witness. "If 1 impugned the
statement of the witness, L certainly
did not intent to-" he said. do you
think l impugned the witness, Mr..
Chairman"
81 want it in the record, Clipper
field declared emphatically, that 1 OBJ
ject / want to say that now so that
some day 1 can make a comment which
I desire to make. AS an individual
member of this committee l am going
to follow certain lines without regard
TO counsel or the rest of the COM
mittee."
Chairman Henry explained that re
did not think Mr. Whipple intended to
impugn the statement of the witness.
Mr.. Whipple said if it was thought
he had impugned Mr.. Noble he would
apologize.
81 want to say that l, for one. am
| impressed with the spirit Of co-opera-
ton Of these gentlemen" was Clipper
fields closing comment
Whipple then said he did not desire
to examine the witness further.
WITHDRAWN SECURITIES.
Most of Mobiles direct testimony was
| in regard to securities withdrawn from
| the list. He said stock in which there
| is little dealing because of its scarcity
on the market is usually Withdrawn. He
also admitted that short" dealing in
narrowly held stocks was dangerous be-
cause of the inability of spectators to
| borrow it,
| Representative Bennett wanted 20
know if Bethlehem Steel was not an eX-
ample of a narrowly held stock of the
| kind which was dangerous for out Of
| town spectators to deal in because OF
the difficulty in always making prompt
deliveries. Noble said he did not think
Bethlehem a good example because
! there was always plenty of the stock
| in circulation.
| Representative Chiperfeld also wanted
to know if stocks were ever held abroad
| to escape taxation.
mot to my knowledge" replied No
| BILE.
Samuel f. STREET., chairD'an of the
| stock exchange clearing house, was ex-
amined on the exchange machinery.
! STREET. declared the first data from
brokerage houses could not be furnished
|
| the larger houses could not do it in a
month.
STREET said that his own firm had only
| from 125 to $50 accounts, but that the
| status of each account in the form re-
| uuired could not be provided in less
! tina ntwo weeks without calling in extra
! accountants.
There are not enough expert &C
countants in the city to do this for ev-
cry house." he asserted.
Some houses, he said, had as many as
! a thousand accounts, and the names of
some of the customers were kept IN
branch Offices in Chicago, Boston, San
! Francisco and other cities.
WORK FOR CLERKS.
BY devoting their entire time to gath
cring the information the committee de-
sires. STREET said. the brokers' clerks
could furnish it in two or three days.
| He did not think experts unfamiliar
with the books could make that much
speed.
STREET. produced copies of clearing
house sheet, showing the transactions of
| an unnamed firm December 10, one of
the days of the period during which the
| leak is alleged to have occurred. The
sheet showed a preponderance of sales
on that day. with United States Steel
| showing net sales Of Is, 500 shares. This,
| STREET explained. did not necessarily