Newspaper Page Text
STOCK GAMBLING
UPTO EWE
MTS WITNESS
Chairman of Law Committee of
New York Pit Admits It Can
Stop Manipulation.
ASHINGTON, Dec. 13.—Frank K.
~ cis. chairman of the Ifiw committee I
.Nev.' York .stack exchange, ad
ret to tile house money trust inves
ting- committee today that the ex- ,
nae could prevent both short selling!
manipulation if it saw tit to do so ‘
witness said that he did not per
approve of short selling and
ii , nered by Samuel Untermeyer,
. mse! for the committee, as to why he
,1 never urged this reform in his 30-
; years of experience on the stock
. ..mange, he said he was not "reading
...e-il i.M-iiires to the other people of
community.”
Untermeyer asked him if lie km w
lyerage daily transactions of the
■ . nge. and he said lie did not.
|r. you •committee supply the;
II commission with data on these |
motions?” asked Untermeyer.
I don’t remember. We gave them i
~t . data." said Sturgis.
I iite, meyer pointed out that the fig
, - lie had showed about an average
. ? Itifi.iiiHi shares yearly. Sturgis was
rot sure that was right.
oi! all these transactions 25 cents a
, commission was paid to brokers.
... it not?” asked ’Untermeyer.
X’..| on all of them. Some of the
mlu-rs may have been acting forthem
■ ■ . Somewhere between one-quar
and one-half of the dealings were’,
obably for brokers."
About Brokers’ Rates.
S.atgis said there were about 400 ac
, hi. mb.-rs on the exchange on busy
ivy-. lie admitted that about one-
■ lira of thi active business was from
vokers. He said the rate of commis-
. ..us varied a good deal, only $2 for li>o i
iui < s being paid in commissions on i
i. floor business. The varying sched- 1
■ of commission rates was regulated
the exchange. Where the outside j
_i1,...■ was on both sides of the trans-)
i ons a tax of 25 cents a share had to I
ie paid to brokers.
"Is it not a fact that the price of
s curities has no effect on the size of I
■ is commission?"
'Excepting mining stock below slu‘
:.a value, that is true," said Sturgis.
t ntermeyer then took up short sell-I
ing.
"in the main, short selling is specu
lative,” said Surtgis.
"Short selling is practically selling
something you haven’t got. isn’t it?"
asked ('ntermeyer.
"Yes." said the witness.
"Is it legitimate?”
"I think so.”
"Panic Makes No Difference.”
"If :: panic is raging, do you think!
It’s right to sell stocks short to depress!
the market?’ i
"I do not Think it's wrong. It is j
rotecti.m for men who have been
■ ■•luglit with a lot of long securities.
v. ii ..y are able to repair their cred-]
- under such conditions."
Sturgis said his idea of the defen-i
ibility of short selling was based on 1
■ Hnaneial necessity of the person en-|
ig. i in such transaction. He said that!
o iling in a normal market” was;
. ..stioii of morals. He did not per-!
■ uially aprove. of it under certain con-:
itimis. md said he hud never sold a I
lore of stock short in his life.
''"idd you not regulate short sell-|
mg?" . |
It would not be practicable."
Wouldn’t the broker’s books show I
.■ transactions?”
'Some times."
I Itimately Sturgis admitted the I
'inkers' books in New York would re-'
veal all short sales. The exchange, by j
■■riodic examinations of the books.!
•mid find out the extent of short sales I
end manipulation.
He Never Met Issue.
"If the exchange wanted to forbid
-iort selling or manipulation, could it I
do so?”
The exchange has never met that;
issue.” j
Have you urged its reform?”
It's not my duty to read moral lec
tmes to the other people of the com
munity.”
Untermeyer reviewed tin arguments
ii favor of short selling as a balancing
i irce in a rising market, but then came
•o k to the question of gambling.
"Don’t you think the moral obliquy
Mi<'h a transaction outweighs any
irgument in its laser.'" he said.
Yer, I do, personally.”
As a matter of fact, it is mere
wimbling, is jt not?”
"Yes. very likely."
I’ntermeyer asked Sturgis if such
ransactions as the Hocking pom did
■t hurt American credit abroad. tin
"'■ibtedly they did, he said. In the
ll "*king pool case stock exchange firms
ho took part in it were censured, the
' itness said.
Reckless Firms Suspended.
"But they were not suspended, were
they?"
Two firms were suspended because
mi' went beyond their means. They
■ ‘-re reckless. The others were not
ispended because they kept within
thir means.”
1 he witness could not agree with Un
'rmeyer as to the distinction the ex
range had found between those "cen
sured” and those "suspended."
I’ntermeyer showed Sturgis figure.-!
”• Hocking assets, and asked if ther ■
anj good reason for boosting the I
stock.
I think it was a very poor invest
"td the witness said.
1"U call that an investment?"
"all it a purchase, then."
I ntermeyer went Into ilie question
advertising stocks by making them
opeiir to be active and how the pur-1
*”i' "’as drawn into pools by allur-1
Hl < promises.
;4 CONVICTS AWAIT
SUMMONS TO DIE ON
OREGON SCAFFOLD
SALEM, OREG,. Lee. 13.—-Four men.
convicted of murder end condemned to
death waited today for the sentence to
be carried out. Unless Governor Oswald
West intervenes the sentence will be car
ried out before night.
The sentences against the men have
already been delayed by the governor,
who refused to permit their execution
until the voters passed on an initiative
law abolishing capital punishment. The
law was defeated at the November elec
tion.
At that time woman suffrage was voted
in. Since then an effort has been made
to resubmit the law against capital pun
ishment so that the women might vote
on it as well as the men. The governor
has been Urged to grant the condemned
men a reprieve until this might be done.
Recently he said he would not Interfere
l again. Tin- condemned men are Noble
I Fauldner, Michael Morgan, Frank Gar
rison and E. E. Roberts.
'RED MEN HOLD ANNUAL
“POWWOW' ON MONDAY
rhe fourteenth annual ”pow-wovv”
of i hoetaw tribe No. I’s, Improved Or
der of Rd Men. will take place next
Monday night at the hall, Decatur and
Moore streets. The following program
lias btvn arranged:
\Velcome address. E. a. Raughan,
past great sachem of Georgia; address
”, n Great Junior Sagamore
I. ii. Jeffries; “The Burning of Home, 4 ’
•c’ o’. -. h ' v •' ,,ss Ellle l Hudson; “Long
!in Ik. Past Great Sachem Frank F
j Smith; black-face comedy sketch,
j Frank <’. Holmes; "Long Talk," Great
j Junior of Georgia Jack H
‘Miller; "Long Talk," Past Sachem W.
; H. Abbott.
The public is invited.
AVIATOR ATWOOD'S WIFE
IS IN RENO FOR DIVORCE
REN(\NEV„ Dee. 13. Mrs. Harry At
wood, wile of the aviator who made a
record trip from St. Louis to New York
two years ago, arrived her todav and has
taken up her residence in the divorce
colony. She plans to tiring suit against
her husband.
R. E. Jones.
■ K. E. Jones, 35 years of ago. of North
Side park, died at a private sanitarium
at 1:30 o’clock this morning. He is
survived by his wife, three children,
and his mother and father. The body
was removed to Patterson’s chapel to
await funeral arrangements.
* ~ -1
THE SFOR ]L° F CHRISTMAS SPIRIT
pa MUCH & BROS. CO. = I
sSale of Gold Jewelry, 98c |
s ... ' "—“ x --
Real solid gold .jewelry at 98c—worth and style without extravagance.
Every piece offered in this lot is guaranteed to be 10-kt. gold—and to wear Sl
foiexer. \\ <* doubt if any jewelry store shows more or varied designs, and ®L
we re fairly sure that no jewelry store has 10-kt. gold" jewelrv pieces at 98c. 2h'
.Sg
--'S O lor han,lso,, ? e Be.arf Pins in this edges, some embossed, others with signets. «-
leJj" ’Mb l (,t I none worth less than $2.00; Only 98c. " •£/
-fc/OVumny worth a half more. Solid Tie Clasps-Oval and square shapes, plain
t goh pins and mountings va- signet. emb()SS( . d or engraved designs. SH
* »°" s k. seT S’. ,tb <louble l s and , r *?' l st ?\ lPS - Some to match links. 98e ? 55
iSB Bar Pins— Plain or embossed: beautiful de- p;-,-., , „. A .
signs, 98c. Rings— Assorted styles. Tiffany settings.*®-
• Beauty Pins— Some to match above; the with various kinds of stones. For num ami *J . t
, M pair. 98c. Wo,,lell ' 98c ' £-
; Cuff Links— Over 50 styles, plain or beaded (Famous Center Aisle—Main Floor) '
g Bags With $3.50 Frames Brass Goods Sa e
?» Hereafter we shall not handle J 2 >
lOF Qftz* ] ce!ia ' n ''ties llt brass goods and '
. “ V* i their discontinuance means these
i .|. i ■ i- i xi- \ bargains for you: gr* i
5® I aking his surplus stock or adKJk gy Jar \ eo „, ~ \
I '-21 , , .. . ... M 1 ffr 1 $22.50 Brass umbrella stand, $12.50.
*9 handsome frames that go will’ r , ~ * i
1 "M .. i *•> -n i -i . CM s'-° Empire umbrella stand, $12.50. K.- I
' ’ " " !a 11 sll Gilt Magazine stand, $6.50. «
HE used his usual mammals, and $lO Gilt Flower basket, $7.50. .
lo! ~ a better bHS -™' or Ant. “rass Jardiniere, $7.50. |
" p ’>ave ever seen at 98.—a sls Brass Jardiniere. 12-in $lO *=
H»g at 98c that IS easi!v wor ; h $18.50 Jardiniere. 14-in., $12.50. J-
■ s®* i rl- o< ’ t° $17.50 Brass Jardiniere, 12-in. size, S» |
■3® Frames are German silver and German silver gold plated, gun J,^® ssel - $12.50.
yJW metal and leather covered. Seal and walrus grain leather, moire $25 Brass Wood Has et J #2n s9, ttii
IT* and leather lined, creased and round bottoms. Fitted with coin ’ W 0(1 Basket - S 2O - *• .
I purse. Sizes and styles to please all. Black only; 98c. Tube Brass Gongs, $6. • !
.S 3 (Center Aisle—Main Floor) (Brass Goods—Third Floor) J--i
,S $1 Union Suits Two Toyland Specials, at 5
E 8 1 iiiJ !! ZKri r » Pianos-Well-made upright doll S
I; Jbß "seconds" —l<■ t VVV pianos, of rosewood finish: com- f s'*
>• him have his way: plete with ten (10) keys; 7 1-2 K IT ft*
|there is nothing about them to : inches high; 10 inches long.
-
\ *3* Made of soft Sea Island cotton. 1 long, 8 inches high, with trav ». g»'
■ line ribbed, ankle length, long inside: of wood, and paper cov- V" '
M sleeves. Sizes 4. a and 6. , .. , -.. . ..' 1 ~ v ~r-
. ered. Only <8 in all—we fear
fta 50c Undershirts, 25c tliere will be none for late comers. *®l
; ■
For the same reason. Same style X,, phone orders on either of these specials $V
I as above. Sizes 4. 5 and 6.
I (Underwear —Main Floor) (Toyland Annex. Main Floor—Right Aisle) '
£ When You Give Gloves Chiffon and Auto Veils
£ Remember these makes: Eownes. Trefousse, In XmaS BoXeSZ Special £
I Vallier. from abroad ; Haemo, Dempster and Just 300 attractive chiffon veils. 2
e* Place. Ireland, Fiske, Clarke & Clagg, from ; yards long and 27 inches wide. Have ©a*
VJW , flee P sat* ll borders. White, black and «a'* '
at home. all colors; all ready in a pretty Poin- I
IJW For these are the best of the world’s settia Xmas box. 300 should not last out the day
: - b- . , , at the price of 59c. s
LJ* gloves—time-tested and true. u i en •--
I They are here in every color, style and Cnilron Veils $1,50
j ’4! size Priced to $4, and anv pair will be pret- h Heavy cliiffon veils with deep borders; 2 yards JC
j >} ■ . ii/ • . , t i by 1 yard: black, white and colors.
, tily boxed upon request. Mahne Scarfs Are New
lt m° ntl " VKP-.nd t1 00 ejovos
■2! Childrens oOc. and $1.0( Glovesat 2oc. Broken w)th shirred or little bow knots. Easily made
lines and s z l ' Mallne by the yard in black, whit- and all colors ** -
(Gloves. Main Floor—Left) is 25c d
M RICH & BROS. CD. RWNVWMWtO?* * 8805 80 /WWIW
THE ATLANTA GEORGIAN AND NEWS. FR ID AV, DECEMBER 13, 1912.
Clay’s Confession
Halts Woman’s Plea
At the very moment that Robert Lee
Clay was throwing off his mask of in
sanity today and assuring those around
him that he was perfectly sane, a wom
an, giving her name merely as “Mrs.
Kennedy," was seeking diligently to get
to the governor in the capitol, for the
purpose of convincing him, if possible,
that' Clay was insane, and she knew
why.
Mrs. Kennedy came to tile capltol
early this morning, and asked to see
the governor. She was there two hours
before the governor was due. After
waiting a while, she said she would go
to the mansion, but did not state what
her business was.
After a while she came back to the
capitol, and Secretary Jesse Perry, see
ing her in the corridor, asked her busi
ness, She then said she wished to
see the governor. She said she bad had
experience among Insane people, and
had studied their characteristics. She
said “a hearty appetite and a rapid
pulse" were two Infallible signs of men
tal wreck.
Secretary Perry assured her that
there was no use seeing the governor,
as the case had been settled—that it
was closed.
Mrs. Kennedy was not at all dem
onstrative. She talked calmly, said she
never had laid eyes on any of the Clays
—but insisted that she knew Clay was
insane nevertheless.
Eventually a noon edition of The
Atlanta Georgian reached the capitol,
and Mrs. Kennedy read therein the
story of Clay's admission that he had
been shamming and been playing a
part.
Mrs. Kennedy left the capitol Imme
diately. and made no further effort to
reach the governor.
TRAIN HITS WAGON TAKING
SIX MEN TO WORK; 1 DEAD
LEXINGTON, KY., Dec. 13. A wagon
containing six carpenters on their way to
work was struck by a Louisville and
Nashville train at a crossing. Henry
Wilson was Instantly killed: George Neal
seriously hurt, and the others slightly in
jured.
imiffir
POWER GO. W
Will Appear Before Council
Committee Today, and Plans
Hard Fight.
Joel Hint, the millionaire property
owner who has declared that the rates
of tlie il orgia Railway and Power
Company are so high that he will not
buy power from it. will renew his peti
tion io the streets committee of council
this afternoon for the right, to lay con
duits under the streets through which
to supply current to his buildings from
his own private plant.
Because this right is opposed by the
Georgia Railway ami Powe:' Company
Mr. Hurt will outline to the committee
that lie will build an electric power
plant to compete with the power com
pany If his permit is tefusi d.
Mr. Hurt expects to build a private
power plant in the basement of his new
skyscraper on Edgewood avenue and he
wants to supply power to his several
other buildings front this plant. The
power company objects to his use of
the streets because he won't be subject
to the regulations and taxes of the pub
lic utility corporations. The company
claims the city can not legally grant
the permit.
Mr. Hurt said todai he would show
the committee that such permits are
granted in every city.
Mr. Hurt once owned large street
railway interests, but sold out to the
present corporation after a bitter war
of competition had lasted for several
years. He claims that the history of
the corporation since the consolidation
would make the most startling story of
high finance In America.
Representatives of the company will
be present to oppose his permit. A bit
ter clash Is expected.
-I
BASS BASS BASS~B/\SS BASS BASS BASS BAS!rFASS BASS BASS BASS "
1 Another Great Sale of I
?Coats and Suits!
(/) >
2 Another great bargain sale of Ladies’ Coats
and Suits will begin in our popular second floor to- §
< morrow. Additional lots of the great Ginsberg
purchase—-and other lines bought at 50 cents on the g
dollar. cz>
0Q C/)
Sale will begin at 8 o'clock Saturday morning. «
< Come early. S
CQ J CZI
Suits worth up to Coats worth up to 5
i&57.95 e5,54.95|
(/? , | 155
< Suits worth up to Coats worth up to S
1 e5.59.90 5.56.90 1
< Suits worth up to Coats worth up to «
$30.00; 0.50 $18.00; £7 QE g
S choice.. Mr “ choice.. 'K ’ • $
00 P 3
< Suits worth up to Coats worth up to
$40.00; d> 1 A .50 $25.00; d»Q QA 5
“ choice .. * choice.. 'P*' «
’Z) • 05
—
» Bargain Sale of Dieses %
rz- 05
< Extra special sale of new dresses—-satin S
messalines, all-wool serges, etc.-—all new
5 models and worth up to $15.00. Ci/I QE S
Take choice for only
CC Q 5
iZ) >
Other Bargains in 2nd Floor
co 05
CZ) 200 Children’s «'ont.-; s.unpl Big lot of L.tdies’ Waists in mi. Ladies' All-Wool S\\ .iters’;
2 i-hoi*-' .'. . $4.95
values SBc Xim’ up .':'. M : w,: . $1.95 1$
Satin Messallm Petticoat:-, will; Ladies' Vests and Pants; heavy- Ladles' (luting Gown-, full -nt
up th ss.uo; this QC ribbed; 50e values; OKa al,<l ' V, 'H made; rr*
ys sale only itUwV SI.OO values.... “wwC
l'’ur Noekpieees, worn up to Ladies’ Union Suits; heaw, it,- Ladles' Ri ady-to-\\ e;n Hats;
*!; $15.00; on sale bed and fleece-lined; AQif» valm-s up to $5.00. in
WU tomorrow at .. . SI.OO values WV this s:il<-, only wOO C/)
Handsome Fur Si ts, vorth op to Children’s Vests and Paris. :ib- Ladle-' Trimmed Dress Hats, .
W $20.00; choice, bed and fleece-lined; IQr* worth up to $15.00; aCI ™
f -Z) tomorrow p er garment choice..
< CZI
“ Specials in Blankets and Comforts
>
Iloro are seasonable specials in Blankets mi d (’on) lot Is bin-trains I hat will nol lie duplieat- F
® e.d by any other Atlanta store. An immense stock- but early buyers M ill get choice of best
iZ) offerings. qs
(Z >
Babies' (’rib Blankets, soft and Extra large and heavy Blanket-. ; Good size Cotioti Comforts, silk- r/s
warm: this sale, Ofln worth $2.25; at 4 oliue-covered; tzi
perpair I B «’O 3oC
t/) Special lot of three-quarte: size Full size Cotton Comforts, with 05
Cotton Blankets; SI.OO A Large, fine Wool-Mixed Blankets, splendid silkolinc ■£ 4 A
values per pair *tvv $4.00 value; per ~ . ■ covers I a 4O <Z;
CQ Single bed size Cotton Blankets, pair Extra size silkoline-covered Cot- CZ
on sale tomorrow. SQf* ton Comforts: Aa
<Z) at, pair Extra large and very fine Call i $3.00 values j|. VO W
Full 11-4 size heavy Cotton Blan- fornia Wool Blankets; the kind ■ Very fine sateen-eovered Cotton
Rets; in this sale, 801,1 by other stores d” rhQ Down Comforts; gs« Aft CZ>
CQ pair WVV at $5 ami $6; pair . SwoOw this sale
CZ OO
< Table of Novelties, Notions and Furnishings
c/j Bm Big table of Ladies’ Belts, Ladies’ and Men’s Hose 4?- HHH co
wijkO Supporters, wide Sash Ribbons, Ladies’ and Men’s A >
S a 1 ■ Neckwear, Jewelry Novelties, etc. All at 25c for * St' I.
cc Oas choice. OHWrIJ
CZ) 05
1 These Extra Specials On Sale Saturday Only!
Gill-’ Imi Bio Knit \\ - M* :i $2.00 Kid Gloves on .1 . Noil Silx.i Motth Bugs, in va-
" on -:i ■■ torno m miiroii only CbQru rkm tyl<-. s.'i.nx.
nt 4&.WW j. pa | r OOG SI.9S and . WOC
Ladies' Woo! G ■ Ladh 1.511 ■: " • 2-ela-p Kid Ladle .ml Men’ Knit Mufflers. >55
25c 79c 25c
02 11 ' ■ Hat >d - ®
ftQg' ■ f" -
Ot-s; pair . . ut> „ n |y V , m,. ant ] QC _
un g
T Special sale of Smiths seamless «
“ all-wool Brussels Art Squares at the %
< following bargain prices: $
6by 9footC* r Qfl 9by 12 QjA §
2 size,only <4P»>»zv/ size, only S? J V
! “ Q A C G “
2 Trading MA Near g
Stampa Whitehall
BA~SS BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS~ BASS
3