Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-12-27
SON Of GEN. WOOD
WINS IN WALL ST.;
WILL LEAVE ARMY


old son of Governor General Wood,
of the Philippines, has admitted
making between 100000 and $780,
900 in speculation in Wall street Sc
.curities conducted by cable from
Manila, where he is an aid to his
father, says a copyrighted dispatch
to the New York Times today.
The dispatch, by Richard Oulahan,
in part follows:
Copyright, 1928, by the New York
Times company
(By Permission of the New York
Times)
MANILA, Dec. 26-Lieutenant
Osborne Cutler Wood, son and aide
of Governor General Leonard Wood,
will return to the United States soon,
probably by the end of January, with
the intention of resigning his COM
mission and entering the diplomatic
service.
This step is not only in accord with
his inclination, 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 a diplomatic career indie
pendent of salary consideration.
Made Nearly Million
Lieutenant Woods streak of good
fortune began in September or Octo-
Der of last year when he bought stock
of the Standard Oil company, of New
Jersey, just prior to its sensational
rise. Although his capital was eX-
tremely small. then, so he told me to-
day, the fact that this stock rose ap'
proximately 60 points gave him prof
it's which placed him in a position to
make further investments on q large
- scale.
Practically all of them were profit
able. 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 $500, coo.
For some time, stories have been in
circulation in New York, Washing
ton, Chicago and Manila that Lieu
tenant Wood had engaged in heavy
investments IN securities and it was
reported that he had made deposits
i in New York and Chicago aggregat-
ing $2,750.00O. -.
In the course Of its circulation the
story sometimes took the phase that
these large sums had been sent
from thu Philippines by Governor
General Wood. Nothing ever
appeared or has been disclosed by
investigation here to bear out such
an insi1 uation. On the contrary, &C
cording to what am assured is the
bastinf 0rmed sources, Governor
General Wood remains a man of
small raeans, which he is obliged to
conserve with true frugal methods.
1t was General Wood also who put
an end to Lieutenant Woods finan-
cial ventures, when he learned oil
them. This attitude on his part is
understood to be not due to any
feeling that Lieutenant Wood S
transa ctions were not legitimate, but
to the belief that it was unwise that
such a young man should accumu-
late Q, fortune so rapidly and to a
desire to afford no ground for Cos
sip that Lieutenant Woods invest.
mentS were in the Philippines.
Tho matter of Lieutenant Wood s
financial operations was brought to
General Woods attention on his re-
turn from his Java trip to Manila
Representative F'rear calling for Il
congressional investigation of the
Philippines. -.
General Wood Immediately sent
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.
Il want nothing concealed" said
General Wood.
Tells of Transactions
lieutenant Wood said it was true
that he had made considerable
profits dealing in American securi-
ties, but said they did not approach
anything like the sum of $3.50, 900,
the amount had mentioned as the
aggregate reported deposited to his
credit in New Tork and Chicago.
His profits, he said, were between
100000 and 100000. 49,.
while / regard these transac-
tons as private Matters said Lieu
tenant Wood to me, 81 am perfectly
willing to tell the story without 60
ing into intimate details of my per-
sonal affairs. None of these trans
actions had anything to do with
Philippine enterprises. Efforts were
made by people here to have me in
vest III enterprises III llle lSIdnQS,
but I declined to do so. Mine were
all American transactions"
Lieutenant Wood said he had de-
pended for advice on a New York
concern which cabled him daily as
to investment conditions. :.
Manila people say Lieutenant
Woods purchase of expensive auto
mobiles caused some comment here
TO the effect that he was oettino rich
through investments, although the
more general opinion was that his
money was due to the fact that his
wife is a daughter of Henry B.
Thompson, of Delaware, president of
the United States Finishing COM
pany, with offices at $40 Broadway.
New York. who is reputed to be
wealthy. Mr.. Thompson visited Ma
Mia last January. Recently his
daughter purchased a residence in
Manila where she and Lieutenant