Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-06-17
New York, June 16, 1920.

The motive and the underlying scheme of the invitation
extended to and stand trial by of Gov
fully understood and appreciated If not mis-
ken this is the Board of Governors wo last March
and April sat in judgment the Sutz matter and on me-
Board who although fully apprsed by me of
the crisis still requested Stuz stock freely
omitted to- take preventive despite my repeated
earnest reqess the Board who every
detail respecting my operations but declined to give the
slightest nformaton the Board who per-
sent short campaign but accorded only obstruction and
difficulty the Board who first illegally suspended trad
ing in the Stuz Stock and then later put through amend
men to the constitution in order acquire such authority the
Board who permitted its members sell Stz right up
the sound OF the the when about to
make this illegal SUSPENSION and then excused them from max
ing deliveries the Board who generously announced
that Stock Exchange contracts should have Stock Ex
change enforcement but that be eegaed
either in the courts or by personal negoao the Board
which sat during all this time ten members
themselves actually Short representing short interest
in Suz and the Board of Governors who hereupon in
spre foered and approved the banding together of
ftyegh firms whose Stock Exchange contracts held for
the avowed purpose of reputation Having entirely failed
the most persistent efforts to cripple and in their deter
mined to protect gamblers in the Stock and having
been frustrated in their attempts reputation, despite
of eminent legal talent and having delayed for two
months the sale of seat despite the fact that not dollars
obligation stood against it, these forces have pre-
pared fitting conclusion to the part they have played
This situation suggests the chances of allied officer
trial before the German general staff That at least might
be proceeding There perhaps the accused would have
the right of counsel While the result might conceivaby be
forecast the evidence would at least be exposed public vew
But the trial designed by the Stock Exchange would extend to
such privileges Here asked merely to become the
willing victim to vengeful sacrifice In order to make the
obseques complete they would like furnish the corpse
My is, first that the New York Stock Exchange
has no jurisdiction because longer member,
having duly resigned April 13 last for then took
pains set forth second that deny there basis of
truth in the charges made against next, that if it be
violation of the Stock Exchange rules and regulations that
should render himself obnoxious to the selfish clique
in control that his expulsion is for them matter devouty to
be wished make denial of the mpuation and last
each and member of the Exchange who has made it his
business to investigate the Stutz matter must know by this
time defended myself sngehandedy from the most vicious
assault and my stockholders refused to be ntim
dated by combination of and not
the great Stock Exchange blot out the fact that its
ceedngs have been disgrace to its honorable traditions and
its fine ideals
man appreciates more than the Stock Exchange
the keystone of the commercial structure country
No has greater respect for its ideals and traditions No
has higher regard for those among its members who
stand for justice and square dealing matter whom hurts
But deploes than that this great institution,
with its ss for good should have so FALLEN that
these employed for the evil designs of private ends
and personal 1t is sad spectacle indeed that
body boang the high functions of court should be debased
to such low ends
When the socalIed Charges" against me served,
why the judgment simultaneously announced? 1t had
already been formulated and by the same hands that made the
charges anyone received by he postponement Oh an
nouncng this judgme it must be only its authors have
heard that the change his spots but have
seen it done Whitewashng the spots may~nporary con-
ceal them but viii hardly be sufficient to obliterate them
If the Board of Governors desires merely to that
1t claims the irresponsible to expel me even after
have resigned why need it go to all the trouble of mock
trial? If it desires show that is antagonistic to
and has been all along had amply done before franz
ing these camouage charges If desires to demonstrate
that the forces which failed to crush and to destroy
my stockholders still hungry for blood it needs further
proof But the Exchange thinks that by the secret and des
potc manpulaons it itself in the eyes of the
public from the aint of its mishandng of the Stuz matter
am sufficiently American and optimistic to believe that the
thinking public will not be humbugged and that somewhere
and somehow the true facts will be brought to light that
the inquty of this proceeding and the menace of this IRE
sponsbe in high places will appear in real coors.
purpose to hold the Board of Governors responsible not
only to the public but personally and to the Sutz Com