Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-01-30

tai operations" undoubtedly represent
ed those of all who dealt in the stool
market
Baruch went into detail as to hi
stock market operations. On Decem
Der IA he sold short 1900 more shares
bringing his commitments up to 25,0O'
shares
On December Is the market brok,
and he covered by buying in all bu
1900 shares, He had gone short, h
said. at around 123 and covered at al
average of ITO.
On December 1s he sold short AGAR
1000 shares and on December 1S wen
short 2S,400 more. On December 20 hi
covered 1900 shares. reducing hi:
short account to 25,500.
Made $476, 165.47 in 10 Days.
Between December 10 and Decem.
Der % his net profit in the market was
S476.16S.47 he testified.
Touching on his December 10 deals
Whipple asked Baruch II they were at
fected by any information from Wash
ington regarding the administration:
attitude toward peace.
Absolutely not" he replied.
Ibid you receive any Information
from Washington regarding the admin.
istratior's attitude?" Whipple asked.
Absolutely not he replied. IF ha6
known of the Presidents note that day
I could have started in at 10 O'Clock
and sold all day"
Baruch said he had anticipated the
Lloyd George speech replying to the
German peace proposals December 10.
II knew, of course, that it was COM
ing. l felt that it would be just what
1t turned out to be; that it would leave
the door open for peace. / can see now
how it came out on the ticker-'but IL
leaves the door open for peace"
Baruch was asked if he considered
his operations at this time large.
''Oh. they were fair operations. but
I've done larger. I'll tell you about
some others if you want to know. I'll
tell you anything you ask me-
No Communication With Capital.
A general denial was offered by Ba-
ruch that he had any communication
with any one in Washington about the
time of the. Presidents peace note in
regard to it. He talked with Secre-
tary McAdoo two or three times, he
said. about an appointment to the fed
eral reserve board.
Baruch also said he tried to call ..aul
Warburg over the telephone during
this period, but failed.
He never talked over the telephone
with Secretary Tumulty or discussed the
peace note with him. he said. The story
that he had breakfasted with Tumulty In
the Biltmore Hotel. he said, was moon
shine"
There is one fact in connection with
this whole matter which has been very
generally overlooked" Baruch volun-
teered- That is that the japanese peo-
pie than whom there are no cleverer In
the world. took steps to close the stock
exchange Immediately following Won
Bethmann- HoLweg's speech"
This action, noted by Baruch Decem-
Der 13, increased his desire to sell, he
said.
'The situation in the Japanese market
was similar to that here" he said.
They don't let them sell short over
there. though"
No Information From Envoy.
NEW YORK, January so-As unex-
pectedly as Mr.. Whipple, counsel for
the committee. brought the name of
Ambassador Won Bernstorf into his
examination OF the German oficiars
friend. Archibald s. White, the New
York financier. he suddenly closed his
direct interrogation of White today
after obtaining denials from him that
ne mad received advance Information
from any German official regarding any
OF the recent peace movements,
Having established the close relation
ship between White and the ambassa-
dor yesterday and questioned the wit
ness closely about alleged efforts of
Thomas W. Lawson to arrange a meet
Ing with Won Bernstorff Whipple TODAY
drew an expectant audience to the hear
Ing room Then. with rumors of pos
sible sensations flying fast. Whipple
asked White less than half a dozen
questions and turned him over to the
committee for further examination.
Reading first from testimony pre-
viously taken by the committee in
washington, Whipple brought out that
details of the German governments
peace proposals and President Wilson's
peace note were known in German off,
cfa1 headquarters here and in Washing
ton before they were made public and
asked White II he received any advance
information about them through such
channels. White answered negatively.
No Customers Among Officials.
Have you. or have you had, any &C.
counts in which persons in official life
were interested" Whipple asked.
No." White answered.
Representative Campbell then took
UP the examination and tried to get
White to admit that he had joined with
Lawson in stock market operations
based on the topheavy condition of
the market and the possibility of peace.
Did Lawson suggest to you" asked
Campbell, that the market was Top
heavy and that a suggestion of peace
would start the market down and that
1T was a good time to get all YOUR
friends into pool?"
mo. SIR said White.
Putting the question in many differ
ent forms. Campbell tried to learn spe-
ctdcally what White and Lawson
talked about at their various meetings
in New York at or prior to the time
the peace situation was a big factor
in the stock market.
Talked in General Terms.n
All White would say was that they
talked 'fn general terms" about the
war and its economic effects" He
said he could not recall ever having
discussed various specific subjects
which the representative suggested to
him-the German peace proposals, the
Lloyd George speech in reply, or the
C-53. 'or President Wilson'S attitude. -
You had advance information on the
arrival of the U-53. didn't you?" asked
Campbell.
II did not. knew nothing of it un-
til I saw it in the newspapers"
an insane asylum or behind the bars
which,"
'I have no opinion on that. It is
not within my Jurisdiction" replied
the witness with a laugh.
Didn't you realize when you saw
ny IiSl,a