Newspapers / The Wilmington Dispatch (Wilmington, … / Jan. 23, 1917, edition 1 / Page 1
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Rather forecast. worth Carolina Overcast weath Probably local rains tonight I 'j Wednesday. South Carolina Overcast weath Probably local rains. Lower temperature tomgnt 4 lito Fill EOlTIBfl: ; - " full; leaded we service . : . - vol. xxii. no. 373. v . , - wilmington, north carolina tuesday afternoon, january 23, 1917. 1 " price five cents. TEUTONIC again pustimmm russ, dobMimia Bulgarian Troops Cross the Southern Estuary of Dan ube Near Tultcha. groundTTeld against the russian attacks Lively Artillery Duels Take Place In Some Places In the Wooded Carpathian Mountains. - (Rv Associated Press.) Berlin. Jan. 23. Via Sayville. The Teutonic troops have resumed their advance in Dobrudja, it is announced 0flCiallv. Bulgarian forces crossed the' Southern Estuary of the Danube near Tultcha, and held the ground against Russian attacks. The statement reaus; "Front of Archdue Joseph At some niaces in the wooded Carpatnians and along the frontier mountains to Mol davia there were livelier artillery duels, the weatner Demg irosty ana bright. "In en ;agements between advance guards. German and Austro-Hungarian troops tooK irom me enemy oeiween Slanic and Putna valleys, 100 prison ers and south of the Kasino valley i T .i" drove bacK stronger nosiiie xorces irhich were advancing. Arr.iv Group of Field Mashai von Mackensen On the lower Putna out post engagements resulted favorably in us. In Dobrudja Bulgarian troops cror ed the Southern arm of - the mouth of the Danube near Tultcha and maintain- fd themselves on the north bank aeainst a Russian attack." The statement says there is nothing important to report 'on the Macedon ian front. The breaking up of a Russian raid after tne advancing troops had enter ed the German first line west of Dvinsk is announced by army heaa quarters in today's statement on de velopments along the Russian front The statement reads: - 'Eastern Front: Front of Prince Leopold Along the Dvina and north west of Lutsk, the artillery fire tem porarily increased. "West of Dyinsk our trencn troops K drove oft a Kussiair raiding oexacn ment, which at dawn had entered our first line." There was rather violent cannonad ing between the Oise and the Aisne last night, the war office announced to day. Elsewhere along the front in France, quiet prevailed. In aerial operations two German ma chines were brought down by French aviators. ' The artillery fire was rather spirit ed between the Oise and the Aisne. The night was calm over most of the front. "One of our pilotsyesterday brought down a German aeroplane, which fell in our lines near Navarin Farm. In the region of Montmedy another Ger man machine subjected to machine gun fire, at close range by one of our aeroplanes was crushed as it fell to the ground within the enemy lines near Amel." Successful reconnoitering operations by a German detachment and the re Pulse of a British party which attempt ed to move against the German lines northwest of Frompllps on thfi Franco- Belgian front are announced in to day's headquarters statement regard ing operations in that war area, which reads: Western Front: Army Group of Lrown Prince Rupprecht Northeast of Armentieres, a reconnoitering de tachment from Bavarian regiments en tered hostile trenches and returned snie prisoners and machine guns. 'British detachments advancing gainst our positions northwest of rromelles were re.milsp.d. "Otherwise the haze which lifted un' at intervals hampered artillery ar'd air activities." Following is the official Austro-Hun-sanan report of January 21: 'Eastern War Theatre In the Obo- rum mountains Moldavia) -hostile ""oops which undertook reconnoitering Rations were driven back at a point oi .ieinica ''Tt-. t n HI vn hvnio n'U i r n.... I Infant- - . uciatumeuiB ui ui ucnii Pris attir-ir a ' ' r " b i v men, Ollf mnrhino mm aryr cTtr one mine thrower Well directed ar- aiery fire inflicted heavy losses on Southeastern War Theatre South our t 0chrida (Macedonian front), "r roops frustrated a hostile attack U1e day before yesterday." Mormon Colonies to Brave Mexico After Withdrawal Field u? "!?.. T . . . . D'ti, r, au4Uttriers, American ru- (vi r r. 17CUlun, Mexico, Jan. zs. -A I i t0 Columbus, N.M., Jan. 2.) mon i r of residents of the Mor Coiona n os at Colona Juarex and lpnucn 4ublan have declared their in to tho " leruaining in their ranches Amerirevent of the withdrawal of the Hie- in itroops- There are 200 fam" or thps- e two settlements. Ouv; sons u-nU ls believed about 200 per Uons brave the changed condi- FOKm RYt AGAIN RULES ALL TENNESSEE He Is Inaugurated Governor For Second Titae "Surfs' Pay Tribute. (By Associated ?ress.) ' Nashville, Tteim.,- Jan; 2&---Governor Thomas A. Rye was inaugurated for his second term today. Tt.e Nashville -Equal Suffrage League paid tribute to the governor, members . forming an aisle on fhe stairs through which he passed from his office to the hall of te house, were the inaugural ceremo ny was held. In his inaugural address Governor Rye stated that his first administra tion had marked the end of the long period of democratic factional tur moil in the state. On the subject of law enforcement the governor said his cup of happiness, already full as a result of the anti-liquor legislation enacted by the present legislature, would be overflowing if the "bone dry" bill now pending is enacted. He? uificu mc luiuuuicui ui au uemocrauc platform pledges. PLAYERS GRADUALLY BEND.TO BALL HEADS -Chicago; Janv 2. American Lea J (By Associated Press.) i-1 T - 4 . : . gue players are rapidly affixing their signatures to 1917 contracts, according to President :Ban Johnsoii, who already is on. his way to tover'HaU, Ga., for a week's hunting and; fishing. Prior to his departure, he said that fourteen players had signed with Cle veland, 12 with New York, 20 with Chicago and 9. witi Boston. Clark Griffith, manager, of Washington, re nnrtcrt 'hi niaAro wat-a rnmin in ! fast also - j President Johnson reiterated-pre-! vious assertions that strike threats of . the baseball v players' fraternity are waning, rapidly 4 , 3 10,751,990 BALES GINNED LAST YEAR North Carolina, Including Round and Sea Island Bales, 659,419. (By Assp?fated Press.) Washington, "Jan. 23. Cotton gin ned prior to January 16 aggregated 10,761,990 bales, including 106,968 round bales and 90,671 bales of sea island. That was 97.1 per cent of the entire crop. Ginning by States as follows: Alabama .. 543,987 Arkansas 1,069,207 California 31,725 j Florida . . . . 50,625 Georgia 1,825,629 Louisiana ..... . . ' 437,232 Mississippi 780,862 7 nIT 57.41 Missouri North Carolina 659,419 m.l.i.,mn Sin 41 Q yjB.ia.u.KJixa South Carolina 936,706 oc 77-i Tennessee 362'77o1 Texas. 3-5'i2! Yinxa - J?'! ii.ll UIUC13 NORWAYfS SOCIAUSTS BACK AMERICAN PLAN . (By Associated Press. London, Jan. 23. According to the Copenhagen Politken as quoted in an Exchange Telegraph" dispatch, the So cialist part of Norway has adopted a resolution supporting the American nronosal that an International Social Congress be summoned to meet at the . . . league to prepare me way iur ycaic. ine JNOrwe5iai1 " 6y Scandinavian capitaia. iuw adopted a protest against the deporta-1 tion of Belgians . I t ' I x.L rriA oltfA 4 4 1 m DAY IN CONGRESS. Senate. Met at 11 a. m. Resolution by Senator Cummins to devote the Senate to discussion of for consideration until tomorrow on objection, of Senator Stone. Resumed discussion on 'legislative appropriation bill, debating question of salary increase for government clerks Naval Affairs Committee heard pleas of California Oil Land Claimants for. rights on navy oil land reserves. j - steerine Committee considered prob-. lem of expediting heavy legislative programme. JHouse. Met at 11 a. m. x Resumed consideration , ot1 Rivers and Harbors bill. . - Labor: brotherhoods conference at Commerce Committee opposed' legisla tion restricting strikes. . , ; - -yfr :r'.: -u- in i 1 1 ii i in n i ii ii mm ri mi in i iin iirnn iirw n vn ttyv tt ra- -rr tt- tt fl nnf ilrrrllnh Kw J SH HuHI-K4! . ft Mff-HH J ff J.1U ii uuuui in I uiiiiw IL.iflUL.IUII I 111 LIIU ar x u f " " 1 ff uf JLjEl TO FIGHT THE E BILL Big Contest Over This Meas ure Displaces Interest In School Question. HEARING WILL BE A LONG ONE House Passes Act to Test Con- stitutionality of Amend- ment New Head - for Fi nance Committee of House. (Special to The Dispatch.) Raleigh, N. C, Jan. 23 The larg est of all modern lobbies filled the committee hearing on the patent medicine bill offered by Senator MEG GN Scales and Representative Page when news event in the British evening the act came up at 2:30 this after-, newspapers, which devote their front noon. The contest goes long into the page to ' the text and comment from evening. Bills lav on every legisla-jthe morning papers of juondon and tor's table and technical study to Paris under headings such as "Presi meet the arguments of the lobbyists ! dent Wilson's Millennium" and "The was enioined by Page, as the House Washington Sensation." adjourned. For the moment the med-j The Westminster Gazette asks lcme men backed the school question whether, if President Wilson has suf offLthe boards. Wednesday night is fgred what the Entente Allies have, he set for thaf hearing and the .commit- would patiently have listened to a tee will have reported before that tlliTd party telling him he must be lTl tt , , content to end the war without winn- The House was hospitable to Miss !n!r Qrwi tn fn nonoiHoo ainet Kate Barnard, of Oklahoma, great oaivo wcuucouv ? alefm: The Senate decline d a mi. ' I baveu iue say .we see nQ repIy tQ thege day. There was no vote against her. retorts " T?fnitinH,aild wriHUS ?nVlS i -f I The Westminster Gazette says it is SSEZf? f l ' n D"Rlm' a reasonable inference from the Pres chairman of -the Finance Committee, Vl nw, toxr Mo oQO, t.t, i, ' 1(ient s mention of the German inten- grant him indefinite leave of absence in a Richmond hospital and name a new chairman of that big committee.1. Representative Wright, of Guilford, was elevated from the chairmanship of the University trustees to the head of the Finance Committee, and Hoyle of Lee, succeeds Mr. Wright. The House worked half an hour and pagsed the first act whiA will test the rntiRtitntinnfliitv nf rortain looni measnres nasRpd sinrn thA nmATirT. ments became effective. This was Surry county's road bill for Rockford Township, various lavyers declared it unconfititutional. but voted affirma-.we tively upon assurance of its test use. .Tho House batted ijipoji a - State If vi'dfTTrin 'Introduced by" WithrowV of Rutherford makine U a misdemeanor for one. to'enter an unor.cunied "auto- for one to enter an unoccupied auto mobile, without consent of the owner. it win De recast ana onerea a-new Wednesday. The following is the text of Repre-! The statement was made in re Sfnla.V? Rberts . interesting .bill: (sponSe to recently published intima A Bill to be entitled an Act to Au- tiong that the German terms had al- thorize.any City or Town to Amend read seCretiy been placed in the its Charter to Confer Municipal jPresident.s hnds. Suffrage on the Women. lina do enact: Section 1. Whenever a petition , signed by one-tenth of the votes cast etc iuc ictoi, mumuiycti eieuuuii hiian be presented to the Board of Alder men or other governing board of any town or city ten days or more before the first Monday in April of any year asking for an election to be held to amend the charter to municipal suf frage so as to admit to the exercise thereof all persons twenty-one years qh mror ucr n-nixr .idiots, f lunatics, convicts and illiter- ates (except those of the latter who ' '"b1, "aiL cL are qualified 'as State electors under j h , Senator Jones, Republican who the provisions of section 4, article VI,! declared it indicated a course of sys of the State Constitution), said board , tematic lobbying" by the President. or other governing body shall order L itJi n -hA or,- dXJ. cicVWluu uvy jixxu 111 iuc man . . . ... . ' ner required oy law tor otner eiec- Hnna in coirl nitv nr- tnwn tn ha VipIJI ' rrZ r'r I" 7 rI tin tilt? nisi iviuiiuay in- ayni, liib ooi n,w nioJ, qh Q?tir, u which the will of the people shall be taken upon said proposition.. At such election all adults, not otherwise dis qualified, shall be competent to vote, irrespective of sex. Sec. 2, At said election all electors who are in favor Of said proposition shall vote "Yes" and all opposed shall vote "No." If at said election a ma jority of the vote cast shall be in the affirmative, then the amendment to the charter of said town shall be adopted and so declared by the board i within five days' aft said election is I held. And thereupon all personsj twenty-one years ot age and over, resident in said town for ninety days; 1U DttiU lu"" .lw T"lct? "ai V NtiM-i P4- r -v 7 rl onH ttt h r oro n rxt- meicoua "u, idiots, lunatics, convicts or illiterates (except those qualified as electors un-J Jff e .hV- State 'shall be deemed and held qualified! - y a . m J i :a i-t voters or saia town or city, in an elections thereafter held for any mu- niclpal purpose therein. j Sec. 3. This act shall be in force from and - after its ratification. WILMIN AONJ AlNll HLK GOV'T NITRATE PLANT, (Bi' Associated Press.) Washington, Jan. 23. President lish more than one nitrate plant in accordance with the provisions of the last armv reorganization bill, making ovAiiAhin 820.000.000 for the manufac- ture of nitrogen from the air for use in explosives for the government. Whether more-than one plant will he i constructed will depend on the feasi- bility of different sites being investi- gated' -3y aT interdepartmental- com - mittee and the amount of money re-, quired . . UIZ PRESIDENT ON PEACE LEAGUE Westminster Gazette Declares Wilson Must ICnow the rtaiser's Terms. HIS SPEQH Bt Sg$4TE FEATURED IN ENGLAND Suggests That If President Doesn't Know the .German Terms He Should Take Steps to Get Tnem. (By Associated Press.) - London, Jan. 23. President ' Wil son's speech in the Senate yesterday maintained its position as the chief so-'the enemy who had sprung the war, torn u treaties and committed neard of crimes againat humanity nn- tl0n tY)f he Sn0wf that we don t know," and concludes: M.r" ls0n as something further; f" . -"" '""', T .? B a, that lhs most practical step is to tell us ?hat the Germaft terms are or if ae u!s "ol ,KUU7' lu m",ce er .mans to disclose them. We shall then be able to discover whether the sug- gested 'Peace without victory' is a peace Avhich would leaye our neces- sary objects unaccomplished, or mere- a Peace which stops short of 'crush- S the enemy in the sense of mflict- y""-" CiUU('"u ulsavow- ' rj v """iy" jiu. .q. n,w sutwu officially today that .President Wilson ; has received no word from Germany that she and her allies were willing to j , lay their terms of peace, even confiden- tisallv VioforA him w i . I Charges Wilson is "Lobbying" (By. Associated Press.) Washington, Jan. 23. President Wilsoiji s plan to .Yi3.it the capitol fre- ?.uent' acxon n h?lTf' . " w to introduce any resolution at this timA altnnna'h hp thoiiffht tnp matter .-.-r .-".. . invite iu tion" of the Senate. "He spoke," he ., ... . . ,, . ,. said, "in view of the notice in the thG chief executive of our country pro- poses to carry on a systematic and j continued system of lobbying in con nection with legislation now pending before the Senate." The Senators remarks led to no de bate. Swedish Steamer is Reported Sunk (By Associated Press.) London, Jan. 23. Lloyds reports the steamship Kamma 1 556 tons gross . ' ' . TENNESSEE SENATE Drnccc dacc on itViJ x voo - xiJa - ($y Associated Press.) Nashville. Tenn., Jan. 23. The Sen- ate Monday afternoon reconsidered its action on the anti-pass bill and by a vote o f thirty to two passed a bill prohibitine common carriers from is suing free transportation except ' to employees, their families and mem - rTcs ,rf Viq ctota rpneirTi nnarH Tno s;of 5e state pension board The uiii i cueuuve icucuiuci oi, CANADA RECRUITS FULL WAR STRENGTH (By Associated Press.) Ottawa, Ont., Jan. 23. Canada has recruited an army of 434,5$9 men for the war, 120,(W)0 in excess of the force Great Britain: asked the .Dominion to contribute , at.ue ucgumg ui conflict , Sir Robert Borden,; premier, mionnea rajiiaiueuv jesiwuay. ul this 175,000 ali: service, he announced, with, casualties of 70,000. . . . TV. GOIMAM'S "SHORTS'-' PHILAOELP ON RACE SHEDULE cneaule Committee Addsi Quaker City to Carand Circuit Program. iiiy Associatea iTess.) Auaaia, jaii. 6. jrnuaaeipnia was to the list of errand circuit cit-1 J Lne i1St, l gran.,cncuit cit - adde ies by ,' me scneauie committee ot tne Circuit Stewards at the annual meet ing here today. The Quaker City's application, however, was ihe only one of four favorably acted upon. Other cities requesting the races were Jr.6Uliv:ue. X'eUilii ailU lOUISVllie. The season will open at Cleveland! July 15 for one week and close at At lanta durine the week of October 15. Other dates selected follow: Detroit, July 23-August 4; Kalama T "oo August 6-11- Colnmhim AneiKt"' organizations included in the 18 cTeveland Ai 20 lSSS! grouP e First Battalion de'nnia August 27-SpnPTTihpr 1- Vfari fort September I?- Snae lOI Columbus, September 17-29; Lexing ton. October 1-13; Atlanta, October 15-23. The name of William H. Kinnan, of Cleveland, was mentioned today as successor of H. J. Kline, who has stated he will resign the secretary ship. It was stated today that efforts5 would be made to induce H. K. Dev-: ereax to recorfsider his announced in- tention of resigning from the presi dency. BELGIUM WILL BE EQUIPPED BY U. S. Finanr. MjM-hmprv.anr3lv terials Will Have to Come From America. (By Associated Press.) New York, Jan. 23. Materials, ma chinery and finances for the rehabili tation of Belgium will have to come in a large part from the United States, according to the report of the: American Industrial Commission sent to France by the American Manufac i turers' Export Association. The sec- ond installment of this report - was made puhlis here today. A letter from the Belgian chamber of commerce, in Paris, embodied in the reportj suggests "an appeal to the principal associations of the great industries" of the United States, "in order to help Belgium to resume its industrial and commercial position after the war.' "tl is believed," the uelgian letter continues, "from conversations with American bankers o fhigh standing that financial arrangements can be I made in such a manner as will practi - cally insure such purchases Xo be ! the War Department with the approv equivalent to cash transactiofts, thus al of President Wilson. There were doiner away with any addition to the intimations today that as soon as the manufacturers' net price for remun - eration on account of financing and commission charges." CANDIDATES WORK FOR RESERVE VOTE Five More Days of Contest. Victory Means Much In tense Rivalry Between the Candidates. ft t TODAY'S LEADERS. 4 - Lillian Bartley 131,09 i Mrs. B. L. Daniel 130,983 ! Gussie Skipper 130,765 Mrs. J. W. Griffin .. .. 130,592 Ethel Grimsley 130,139 4 Mrs. Bessie M. Robbins.. 129,999 iettie it. james , j.,-so i- irf. PailliT1o Newsome 129,691 ! ! There are only five days for the can didates in The Dispatch contest to secure the necessary reserve vote to pilot them to victory. As the end rapidly approaches the interest of the ! b and the friendly rivalry be ' r . tween the contestants grows more-in tense. Victory means much to the various candidates, for it will enable them to gratify one of the most cherished am-bitions-to ride around in their own automobile. On the other hand, the glory of winning is the cause of the tremendous efforts of the candidates. The active contenders are determ ined that nothing shall be permitted to stop them in their onward rush to victory. Obstacles are ; overcome j ana - 7,7 7 i T w . ?d 'T'JiVJSH 'stimulent to greater determination and fjesh. endeavor. ,: MED ON SALE OF Mi litiam en LEAVE SATUR DAY. ay Associatea rress.) San Antonio, Texas. Jan. 23. , The return of 25,000 National 4 Guard troops from the border ! ! snoum oegm January 26 or 21, according to announcement made 4 at General Funston's headquarters today. It is estimated a month j wil lbe required to complete the 4"; v1 movement. ! 4. The -droops ordered home have been divided mto three groups. QrouDNo. 1 will eo first, and La. , . ' -t- inuiuuea Lilt; iuhu w nig ; Batteries A. stnd C, Alabama field artillery first North Caro- lina Infantry; Second Virginia In- f fantry. Listed in the second erouD are: . rr. .. .7, . . - s- 1 1 up a., oouin vjaroima uavairy, r Company A., Engineers and Field Hospital, Tennessee Ambu- lance Company No. 1, and Field Hosnital No 1 Organizations included in the e lAiuismna riem Artillery aim v Field Hospital. No. 1. 4 OE ii 99 Chinese and Siamese Chase Captaip from Boat All Arrested. (By Associated Press.) Baltimore, Jan. 23. The Asiatic crew of the Japanese steamer, Hari - rrm Marn m ntinoH tnrlav ortrl Vio'M rirta- session of the ship for several hours The Japanese chief.' engineer, who! R SAILORS MUTINY led the revolt, had his skull fractured, he saw no impropriety in such. opera Revolvers, marling spikes and other tions. He was told that if the board weapons were used and dozens of of governors did not obtain the records shots were fire'd. The captain was 'desired, the committee, would be com driven ashore and the other officers barricaded themselves in rooms Reports conflicted as to cause of the mutiny, but it was rumored that ' the crew composed of Chine.se and Si - amese, feared encountering hostile warships on the voyage to Italy. Genoa, Wilson Approves Moving of Outposts Off Mexican Border (By Associated Press.) Washington, Jan. 23. Withdrawal of the outposts: of General Pershing's ; force in Mexico has been ordered by ) outposts are brought in the movement ; of the main body of troops toward teh border will be begun, The fact is appreciated by all-contestants, that they have formidable rivals for the honors, who are not to be easly defeated and for this reason they are ,not neglecting any opportu nities to build up their reserve votes to the highest possible proportions During the struggle many, moves and counter moves have been made. Con testants by their clever manoeuvres have made many friends, and at this time there are those who will not con - cede anything but victory for their favorite candidate. The public is just as well posted on the developments of the contest as ; V.V v ja-u-wu ww -w v r " . - .. A X. are tnose, wno nave me managemeui. in hand. Everything of importance j concerning the contest has been told ; in these columns and it has been the aim to keep friends of the various can didates as well informed of the pro gress of their candidates, as was pos sible to do. Look at the standing of the candi dates today! Some surprise isn't it, to see the name of Miss Lillian Bartley, Fair Bluff, at the head of the list? Miss Bartley has been very busy se- curing subscriptions and votes too busy to thmk of depositing any votes. She demonstrates toaay, mougu, mat she has been getting results, and is in the race to win one of the big prizes. , Mrs. B. L. Daniel, Armour, is sec ond; Gussie Skipper, Town Creek is third; Mrs. J. W. Griflan, Evergreen, is fourth: Ethel Grimsley, Freeman, is fifth: Mrs. Bessie M. Robbins, WiM mlngton, is sixth; .Hettie R. James. Wilmington, is seventh; and Pauline Newsome," Clinton, is eighth. -(Continued on Page Seven.) TTBBE ; President of New York Cot- ton Exchange Is Ordered to Produce Books. imccdttam nr DDADr "Ejvuvn kjmt rivvUE. WILL TELL THE STORY r MU1- D:Ji. I First Witness Summoned By Committee In "Leak' Investigation. ( (By Associated Press.) New York. Jan. 23. Searchlights ..,'nf Hip Mohha PhIaq Pnmmittoo in th V. w -" .!"leak" inquiry are to be turned Imme- diately on all the "short" deals on the stock exchange between December 10 , and December 23. It was on - such i speculation, if any, thaft profits were mnrto n arlvonno nfnmiHnn . " . e" lnS President Wilson's peace note, it is averred. ! That tnis Mature of the inquiry may De expedited the committee at its first session today at the New York Custom w iwi vwium House ordered H. G. S. Noble, pres. . - , the Governing Board to ask its mem- diately with a list of all of their trans actions between December 10 and 23. The statements" required are also to show the numbers of stocks borrow ed, by whom and to whom loaned and the date returned. With this information in hand, the committee believes it soon' can deter- inline u there is any basis to the charges of immense profit taking by ! those in possession of "leak" Inform ation. Noble was the first witness called after Sherman L. Whipple, counsel for, the committee, had made his opening statement. Mr. Whipple outlined the committee's immediate plans, which contemplate inquiry into nothing save the "leak" said to have occurred in connection with the President's peace 1 note. Noble was questioned particu- !lnl,t r, nAwnlnna. enm pools and the propriety of speculators price and "cover" at a profit. He said pelled to make its own search. Noble agreed to place the matter before tho ! governors this afternoon Mr. Noble described In detail "the 1 activities of market on the floor of the Exchange on a sample day.' Transactions as they occurred were recorded by the Exchange ticker. If errgrs were made they were usually checked by "interested brokers" and a correction would be sent out by the ticker. The Stock Exchange clearing house received at the end of each day from each brokerage house a state ment of its purchases and sales. "Then the Stock Exchange has ab solute knowledge of what occurs; on' the floor?" asked Whipple. "That is right," Noble replied. "And this is accessible to the com mittee?" "Yes." "The Board of Governors," said the witness, "can enforce penalties for the violation by any of Exchange mem bers of the 'standards of commercial morality,' and personal honor." Mr. Whipple questioned the witness as to the difference between speculat ive and investment securities and ask ed if it was not true that the speculat ive stocks offered the best opportuni ties for "manipulated movements." Witness and attorney fenced over a definition of "manipulation." Mr. Whipple said he would bring up the subject later and advised Mr. Noble meanwhile to give an answer to the question with "prayerful thought." The witness, however, willingly fur nished the committee with a list of what he regarded as speculative stocks United States Steel, Anaconda, Ma rines, "the industrial stocks which had profited by the war," Willys-Over land, Reading and Union Pacific: Mr. Whipple inquired what there was about United States Steel that i the public did not know which would, make it speculative. "Mr. Noble replied that it was not so long- since United States Steel did not pay dividends. He .explained that , am - - - . XI J I. X w.m Ar.mJ. 4k A Mwax-Ata iUi me uuuut was auuui uib viuuw iur. stock would make", opinion differing as to this." i Whipple asked Mr. Noble if he naa ever known of preconcerted- move ments by operators to drive down the market by accentuating unfavorable news that they might take short prof its." "I have heard of such things," Mr; Noble replied: "but I never knew of a case to my own personal ? knowl edge." In all your-years as a member or . g0verning board oflhe exchange haye never sieved that there you was a depression due to a concerted movement for 'short' selling?" Mr. Whipple asked. v Noble replied that he had no per sonal knowledge of such a transac tion. T- Whipple askedJf the governing body of the exchahge ever had made an investigation to determine, if: there (Continued on Page Eight) V 1 f : 1" . 2 t i s
The Wilmington Dispatch (Wilmington, N.C.)
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Jan. 23, 1917, edition 1
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