The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1923-12-27

mas admitted making pe-
tween 100000 and 100000 in specu-
lation in Wall Street securities con-
Quoted by cable from Manila, where he
is an aid to his father, says copy
righted dispatch to The New York
Times today.
The dispatch, by Richard V. Oula
han, in part follows:
Manila, December "a Lieutenant
Osborne Cutler Wood, son and aide of
Governor General Leonard Wood will
return to the United States soon, prob
ably by the end of January with the
intention Of resigning his commission
and entering the diplomatic service.
This step is not only in accord with
his inclinations, but he is better able
to take it for the reason that he has
accumulated enough money through
fortunate investments to enable him to
follow diplomatic career independent
of salary considerations.
In Little Over Year.
Lieutenant Woods streak of good
fortune began in September or October
of last year when he bought stock of
the Standard Oil company of New Jer-
sey just prior to its sensational rise.
Although his capital was extremely
small then, so he told me today, the
fact that this stock rose approximate
-ly 60 points gave him profits which
placed him in a position to make fur
Their investments on a larger scale.
Practically all Of them were profitable.
While Lieutenant Wood said today
that he did not know off hand the exact
amount of his profits he estimated
them at between 100000 and $780,
900.
Puts RumOrs at Rest.
For some time stories have been in
circulation in New York, Washington,
Chicago and Manila that Lieutenant
Wood had engaged in heavy invest
ments in securities and it was report
ed that he had made deposits in New
York and Chicago aggregating $780,
900.
In the course of it's circulation the
story sometimes took the phase that
these large sums had been sent from
the Philippines by Governor General
Wood. Nothing ever appeared
or has been disclosed by investigation
here to bear out such an insinuation.
On the contrary, according to what
am assured in the best informed
sources Governor General Wood re-
mains man of small means, which
he is obliged to conserve with true
frugal methods.
Wood Stops Speculation.
1t was General Wood also who put
an end to Lieutenant Woods financial
ventures when he learned of them.
This attitude on his part is under
stood to be not due to any feeling
that Lieutenant Woods transactions
were not legitimate but to the belief
that it was unwise that such a young
man should accumulate a fortune so
rapidly and to a>desire to afford no
ground for gossip that Lieutenant
Woods investments were in the Phil
ippines.
The matter Of Lieutenant Woods f.
nancial operations was brought to Gen
eral Woods attention by me on his
return from his Java trip to Manila
in connection with the resolution of
Representative Frear calling for a con-
gressional investigation of the Philip
pines General Wood immediate
ly sents for the lieutenant; who was in
the palace at the time and in my pres
ence asked him to give me all the facts
of his financial ventures.
81 want nothing concealed" said
General Wood.
Lieutenant Wood said it was true he
had made considerable profits dealing
in American securities but said they
did not approach anything like the sum
of $2,750,000, the amount | had men
toned as the aggregate reported de-
posted to his credit in New York and
Chicago. His profits, he said, were
between 100000 and 100000
Nothing to do With Islands.
while / regard these transactions,
as private Matters" said Lieutenant
Wood to me, 81 ain perfectly willing to
tell the story without going into init
mate details Of my personal affairs.
None Of these transactions had any
thing to do with Philippine enterprises.
Efforts were made by people here to
have me invest in enterprises in the
islands but I declined to do so. Mine
were all American transactions"