Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-01-25
Committee Expects 10 Re-
sumo Hearings Probably
Next Tuesday, When Ex-
perts Are Ready to Report.
UNNECESSARY PUBLICITY
Is GUARDED AGAINST
Short Sale Features Are Be-
ing Examined Into With
Particular Care in Witness
Investigations.

fsV MORNING JOURNAL SPECIAL LHAsEo wtas
New York, Jan. 24.-To give stock
exchange brokers time to produce
records of the dealings of their cust
toners during the time the interna-
uonal peace situation was a factor in
the stock market, the rules commit
tee of the house suspended it's leak"
inquiry and returned to Washington
today They probably will come back
next Tuesday, by which time 1t is ex-
pected the brokers' accounts will
have been examined by the commit
tees experts.
The committee expects to learn
from these accounts who were the big
operators in the market just prior to
the publication of the presidents
peace note and will then summon
these individuals to find out II they
had any advance information on the
note, and, If so, where they got 1t.
Requires Time for 1t All.
The adjournment came after the
committee had been informed by
Chairman Samuel f. STREET, of the
stock exchange clearing house COM
mittee' that it would be physically
impossible for the 600 or so broker
age houses belonging to the exchange
to produce the desired data within
two weeks or a month. This was in
conflict with an earlier statement hH
President IL. G, S. Noble, of the
changei who ttaugR the first te-
sponses might come within day or
two.
The committee went into executive
session on the subject with Messrs.
STREET and Noble and its experts Tho
result was that the committee sub
mtted to the board of governors of
the exchange supplemental request
to be transmitted to the brokers
which was expected not only to SIM
plify the bookkeeping task of furnish
ing the desired data, but also to pro-
vide for concealment of the names
of customers whom the committee
finds need not be involved in the in
qury.
The committee is seeking only to
discover those responsible for the big
short selling operations which are
supposed to have reflected possession
cf an advance tip on the note. I'm
der the new scheme, the actual ac-
counts are to be submitted In one en-
velope and the name of a customer
in another, with a common symbol
for both. If the account on examina-
ton appears innocent, the envelope
containing the name will remain
sealed
The board of governors agreed to
submit the request and the committee
went away assuming that the brokers
would accede to it, but the commit
tees counsel, Sherman l.. Whipple.
made il plain that il any broker dis
sented, the power Of congress would
be used to force him to reveal the In
formation desired, with small regard.
moreover for any desire in his case
to keep confidential the names of his
customers.
Clearing House Probe.
Already the committees experts
have the stock exchange clearing
house sheets under examination and
have list OF brokerage houses which
sold stocks heavily Just prior to the
publication of the note. One Of these
documents showing net sales on De-
cember t9. of $500 shares of United
States Steel by an unnamed firm, was
submitted to the committee In it's
public session today. II was brought
out that this did not indicate neces-
sarily that the sales were for the
short side of the account, but fur
nished clue. The exact nature or
the sales the experts could find out
by examining the firms books.
AS was the case yesterday. the COM
mittee's counsel, in examining wit
nesses today, pounded away at the
short sale feature Of stock market
speculation. 1t seemed to be Mr..
Whipple's purpose to show that the
opportunities to make profits against
pools organized to operate on the
short" side were slim. In question:
ing Mr.. Noble on this subject, partic-
ularly as to whether stocks in dimin-
ished circulation were not withdrawn
from the market was unavailable for
short operation. Mr.. Whipple was
assailed by Representative Clipper
field. The congressman accused the
attorney cf impugning Mr.. Mobiles
sincerity. Mr. Whipple denied such
intention.