Below is the OCR text representation for this newspapers page.

JW GAMBLING WEXCHANGE SMESS Chairman of Law Committee of New York Pit Admits It Can Stop Manipulation. U Dec. 13.—Frank K. , r X chaiiman of the law committee , y,.-.- York stock exchange, ad tlm house money trust Inves committee today that the ex- I prevent both short selling .’."manipulation if it saw fit to do sj. said that he did not per approve of short selling and ■..-nered by Samuel Untermeyer, J', the committee, as to why he u ged this reform in his 30- . , of experience on the stock 'ng.-, he said he was not “reading tV ‘ s to the other people of moiai ■ „ the community. .. asked him if he knew ; average daily transactions of the ‘•xchang-. and he said he did not. ”y,,ur committee supply the ■ iu ghe<. commission with data on these . ....ns?” asked Untermeyer. ■ I dor. t remember. We gave them said Sturgis. ' i'ihvi’V pointed out that the fig ins 1) had showed about an average vig.iui.i shares yearly. Sturgis was n ',. su that was right. ~, ; these transactions 25 cents a a commission was paid to brokers, .t not?" asked Untermeyer. ,X,.t on ail of them. Some of the ~ r . may have been acting tJJ , Somewhere between one-quar ts j.r.i one-half of the dealings were p obably for brokers.” About Brokers’ Rates. Sturgis said there were about 400 ac tive members on the exchange on busy days. He admitted that about one ti.ird of the active business was front brokers. He said the rate of commis sions varied a good deal, only $2 for 100 shares being paid in commissions on the floor business. The varying sched ule of commission rates was regulated by the exchange. Where the outside public was on both sides of the trans actions a tax of 25 cents a share had to be paid to brokers. "Is It not a fact that the price of securities has no effect on the size of the commission?” 'Excepting mining stock below $lO par value, that is true,” said Sturgis. Untermeyer then took up short sell 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 Untermeyer. * "Yes,” said the witness. Ts it legitimate?” "I think so.” “Panic Makes No Difference.” "If a panic is raging, do you think its right to sell stocks short to depress the market?' "I do not think it’s wrong. It is protection for men who have been caught with a lot of long securities, and they are able to repair their cred it* under such conditions.” Sturgis said his idea of the defen sibility of short selling was based on the financial necessity of the person en gaged in such transaction. He said that “short selling In a normal market" was a question of morals. He did not per sonally aprove of it under certain con ditions, and said he had never sold a share of stock short in his life. "Could you not regulate short sell ing?’ "It would not be practicable." "Wouldn't the broker’s books show the transactions?” “Some times.” Ultimately Sturgis admitted the brokers' books in New York would re veal all short sales. The exchange, by periodic examinations of the books, could find out the extent of short sales and manipulation. He Never Met Issue. “If the exchange wanted to forbid short selling or manipulation, could it do so?’’ "The exchange has never met that issue.” "Have you urged its reform*" "It’s not my duty to read moral lec tures to the other people of the com munity.” I ntermeyer reviewed the arguments m favor of short selling as a balancing 'orce in a rising market, but then came back tn the question of gambling. Don’t you think the moral obliquy of such a transaction outweighs any argument in its favor?” he said. I do. personally.” a matter of fact, it is mere gambling, i s not?” 'Yes, very likely.” 1 ntermeyer asked Sturgis if such ‘‘‘('actions as the Hocking pooi did I! 'trt American credit abroad. Un “'Ubtwlly they did, he said. In the |> oo i Citse stock exchange firms took part in it were censured, the w ‘tness said. Reckless Firms Suspended. th„v > ''” " ere not suspended, were . ' ’inns were suspended because ”, '-nt beyond their means. They 'u'.o,,.,’T' k ' ess ’ The others were not f . ■ ’ '■“<! because they kept within ■ '‘ itm-ss could not agree with On- . ■' Jo the distinction the ex- ""'I found between those “cen- . those ‘suspended.” , ".'‘-yer Showed Sturgis figures >“• kihr assets, and asked if there Sood reason for boosting the . ', li ' "as a very poor invest- .." witness said. ' \\\ - ,l ." that an investment?” t a purchase, then.” ', , I .'' ” went into the question --mg stocks by making them i active and bow the pur- ifcu nr S ' "awn into pools by ullur-1 "tondses, 4 CONVICTS AWAIT SUMMONS TO DIE ON OREGON SCAFFOLD OREG., Dec. i3._F our nien convicted of murder and condemned to death waited toda<for the sentence to e earned out. Unless Governor Oswald . est intervenes tlie sentence will be ear ned 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 vn an initiative aw 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 again. The condemned men are Noble bauldner, Michael Morgan, Frank Gar rison and E. E. Roberts. RED MEN HOLD ANNUAL ‘POWWOW ON MONDAY The fourteenth annual “pow-wow” of Choctaw tribe No. 35, Improved. Or der of Red Men, will take place next Monday night at the hall, Decatur and Moore streets. The following program has been arranged: „ol'. eIC .° ni . c a<iriress ’ E. A. Baughan. past gieat sachem of Georgia; address on Redmanshlp. Great Junior Sagamore 1. H. Jeffries; .“The Burning of Rome " mo’ „ bj „ Miss Ethel Hudson; "Long laik last Great Sachem Frank F. smith; black-face comedy sketch, brank C. Holmes; “Long Talk,” Great Junior Sagamore of Georgia Jack R. tj 111 "Long Talk," Past Sachem W. H. Abbott. The public is invited. AVIATOR ATWOOD'S WIFE IS IN RENO FOR DIVORCE RENO, NEY’., Dec. 13—Mrs. Harry At wood. wife of the aviator who made a record trip from St. Louis to New York two years ago, arrived her today and has taken up her residence in the divorce (colony. She plans to bring suit against her husband. R. E. Jones. .R. E. Jones, 35 years of age. 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 chapei to await funeral arrangements. THE S TORE OF THE CHRIS TMAS~SPIRIT WW< M. RICH & BROS. CO. J 1 I. £ | Sale of Gold Jewelry, 98c | *}J 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 3® forever. AVe doubt if any jewelry store shows more or varied designs, and ij, we’re fairly sure that no jewelry store has 10-kt. gold jewelry pieces at 98c. d for hands °l? e Scarf pins iu this edges, some embossed, others with signets. " S —■’w ’ noue worth less than $2.00; Only 98c. KtC tZOVmany worth a half more. Solid Tie clasps-Oval and square shapes, plain 55 . , f gold pms and mountings va- signet> embosse d or engraved designs. J* -jl musly set with doublets and real stones. Some to match links. 98c Z- Bar Pins—Plain or embossed; beautiful de- v . Z signs. 98c. Rings—Assorted styles, Tiffany 5* Beauty Pins—Some to match above; the with various kinds of stones. For men and pain 98c. P WOmen " 98c ’ JJf Cuff Links—Over 50 styles, plain or beaded (Famous Center Aisle—Main Floor) • Bags With $3.50 Frames Brass Goods Sale v Hereafter we shall not handle W I" 11 Of* certain lines of brass goods and their discontinuance means these 3* m , u- i x , s MT&r bargains for you: Taking his surplus stock of $22 50 Brasg „ inbrel]a gta S 5q ,ldS, i m *q f -nT S 4 go \ S2O Km ” ire ll “ brella $12.50. .JB $3 and $3.00 bags the maker , u Gllt Magazine stand, $6.50 used his usual materials, and |lO Gut b lo!-a better bag than you or $lO Ant Bl . ass Jardlnl $750 h ro O e H e V' een a s * ls B ra s s Jardiniere, 12-in.. $lO. bag at 98e that is easily worth fl $]8 . 50 Jardinlerei 14 . in $1250 > $L5 ° t 0 $2 " si wit°h fiTer “‘512 50 in - BiZe ’ 5" J® Frames are German silver and German silver gold plated, gun ji-aißm.,, r’ SR metal and leather covered. Seal and walrus grain leather, moire $25 Brass Wood Baske/120 $9 ’ T® and leather lined, creased and round bottoms. Fitted with coin . " JOd ” dske L S 2O - purse. Sizes and styles to please all. Black only; 98c. lube Brass Gongs, $6. 5® (Center Aisle—Main Floor) (Brass Goods—Third Floor) $1 Union Suits Two Toyland Specials, at 5 gj Ptao.-Wdl.m..de upright doll -L K 3® -seconds” -le JUL pianos, of rosewood finish; com -5® him have his way; P l ' 4 '’ Wlth ten (10) keys; 7 1-2 g gV there is nothing about them to inches high; 10 inches long. jw; hurl Trunks—Doll trunks, 13 inches Made of soft Sea Island cotton, long, 8 inches high, with tray Ss fine ribbed, ankle length, long inside; of wood, and paper cov- S’ sleeves sand 6. ired. Only 78 in all 'w fear £ in 50c Undershirts, 25c there will be none for late coiners. J®® For the same reason. Same style No phone orders on either of these specials. as above. Sizes 4, 5 and 6. 3® (Underwear— Main Floor) (Toyland Annex. Main Floor—Right Aisle) a* ' J When You Give Gloves Chiffon and Auto Veils jr Remember these makes: Fowin-s. Trefousse, Jn XlliaS BoXCS: Special • Vallier. from abroad: Bacnio, Dempster and j U8 t 300 attractive chiffon veils, 2 Pimm Ireland Fiske, Clarke & Clagg, from y arfls lon K and 27 inches wide. Have 11 ’ ’ deep satin borders. White, black and MvL at home. all colors; all ready In a pretty Poln- 3** ' C S For these are the best of the world's settia Xmas box. 300 should not last out the day at the price of 59c. . gloves—timp-tested and tine. •//* 1/ r m " They are here in every color, style and Chiffon Veils $1.50 ijF 3* r> ■ 1 4 J;J ..nv nnir will he nret- Heavy chiffon veils with deep borders; 2 yards ®L 'j» size. Priced to $4, and any pair win m pret- by j yard; black wbHe and co^rg ‘SW tily boxed upon request. Maline Scarfs Are New Q* Continuing Jhe sale> of broken Thev flt just lnslde ,hp coat a,1(1 are finished Children s ;>oc. <sc and . < ■ " with shirred ends or little bow knots. Easily made RK lines and sizes. Maline by the yard in black, white and all colors, (Gloves. Main Floor—Left) is 25c. m. rich t mos co. ’■ mtn > bros. OWWPR THE ATLANTA GEORGIAN AND NEWS. FRIDAY, DECEMBER 13, 1912. Clay’s Confession Halts Woman’s Plea At tlie 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 capltol. for the purpose of convincing him, if possible, that Clay was insane, and she knew why. Mrs. Kennedy came to tlie 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 had 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 tlie case had been settled—that it was closed. Mrs. Kennedy- was not at all dem onstrative. She talked cahnlv, 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. is.—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. ■MH POWER GO. W Will Appear Before Council Committee Today, and Plans Hard Fight. Joel Hurt, the millionaire property owner who has declared that the rates of the Georgia Railway and Power Company are so high that he will not buy power from it, will renew his peti tion to 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 and Power Company Mr. Hurt will outline to the committee that he will build an electric power plant to compete with the power com pany if his permit is refused. Mr. Hurt expects to build a private power plant in the basement of his new skyscraper on Edgewood a,venue and he wants to supply power to his several other buildings from 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 today he would show the committee that such permits arc 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. BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS fcASS™ i Another Great Sale of | l Coats and Suits! CD > x Another great bargain sale of Ladies’ Coats 8 $ and Suits will begin in our popular second floor to- § g morrow. Additional Jots of the great Ginsberg $ <d purchase—and other lines bought at 50 cents on the « < dollar. 5 y, Sale will begin at 8 o’clock Saturday morning. w < Come early. S co _ Suits worth up to Coats worth up to S i»57.95 5.54,95 i < Suits worth up to Coats worth up to 5 i£ $9.90 5 ; .56.90? CD e CO < Suits worth up to Coats worth up to S =« $30.00; d»i 6.50 $18.00; <7 QE § S choice.. * “• choice.. « CD CO < Suits worth up to Coats worth up to § S $40.00; d* 1 A .50 $25.00; d»Q Qf| g “ choice .. -t * choice..“ CD 00 —————————— """ > « Bargain Sale of Dresses 8 co < Extra special sale of new dresses—satin S messalines, all-wool serges, etc.-—all new models and worth up to $15.00. QK S M Take choice for only ip CD CO CD ————— “ Other Bargains in 2nd Floor CD CO CD 200 Children’s Coats: samples Big lot of Ladies’ Waists In nett Ladies’ All-Wool Sweaters: worth up to $12.50;. QCS styles; $2.00 QQtf* worth up to $4.00; ttl QK CD CQ choicevalues «OC choicel.VO (/) Satin Messalim* Pi'ttiiu ’ts, worth Ladles’ Vests and Pants; heavy- Ladies’ Outing Gowns, full ?ut rz . upto $5.00; this ® J C&K ribbed; 50c values; and well made; ffl jy sale only fc»*C SI.OO values Fur Neckpieces, wo tn up to Ladles' Union Suits; heavy rib- Lad.ies’ Ready-to-Wear Hats; 7* $15.00; on sale QK* bed and fleece-lined; values up to $5.00; in , CQ tomorrow at >gv.®w SI.OO values...... tills sale, onlywwC CD Handsome Fur Sets, worth up to Children’s Vests and Pants, rib- Ladies’ Trimmed Dress Hats. CD $20.00; choice, CQ bed and fleece-lined; worth up to $15.00; CO OK ™ CD tomorrow p er g armen t 1 choice < CD “ Specials in Blankets and Comforts » < Her 1 are seasonable specials in Blankets and Comforts—bargains that will not be duplicat ® ed by any other Atlanta store. An immense stock—but early buyers will get choice of best CD offerings. Q 5 CD > Babies’ Crib Blankets, soft and Extra large and heavy Blankets, Good size Cotton Comforts, silk- (/> ry*, warm; this sale, OQn worth $2.25; at C 1 /I Q oline-covered; CD perpair pair l ,4$ only CJOC CD Special lot of three-quarter size Full size Cotton Comforts, with CD CD Cotton Blankets; SI.OO /IQa Large, fine Wool-Mixed Blankets, splendid silkoline £ 4 A O values, per pair $4.00 value; per « , . covers) I .Ht© CD fp Single bed size Cotton Blankets, pair Extra size silkoline-covered Cot- jCD on sale tomorrow, CQ/* ton Comforts; £ 4 QQ CD at, pair UVv Extra large and very fine Cali- $3.00 values ... | ,QQ CD CD Full 11-4 size heavy Cotton Blan- fornia Wool Blankets; the kind Aery fine sateen-covered Cotton 5* kets; In this sale, QQr* sold by other stores CO QQ Down Comforts; CO GO CQ pair vOw at $5 and $0; pair . this sale ydiUQ CD CD g Table of Novelties, Notions and Furnishings cd SpSl Big tabic of Ladies’ Belts, Ladies’ and Men’s Hose CD P Supporters, wide Sash Ribbons, Ladies’ and Men’s gy O 1, 1 Neckwear ’ Jewelry Novelties, etc. All at 25c for Jw If CD OT I These Extra Specials On Sale Saturday Only! Girls’ and Boys’ Knit Wool Gioves M<n's $2.00 Kid Gloves on sa..e New Silver Mesh Bags, in va- ® on sale tomorrow tomorrow only, tious styles; S3.US, at fcWV at, pair . ... sl.9h and ?JCSC CD Ladles’ Wool Gloves; yerv spo- l.idh s' $1.50 grad, j-ela.-i Kid Ladies' and .Men’s Knit Mufflers; CD CD cial values at 50c UK/* Gloves in this sale black, white and ■ ** v as Ladles’ Jersey Gloves, chamois i L ulies’ Silk Automobile Scarfs; i Special sale of Ladies’ Hand- ICD I lined; black and col- UQf* remarks ble bargains KQr* kerchiefs tomorrow at ftaa ors; pair a t_ only iq ( . ;inf j wv —. CD > < CD “ Special sale of Smith’s seamless & CD » all-wool Brussels Art Squares at the « CD CD < following bargain prices: « y, 6by 9 footer QZA 9by 12 foot(£Q Qfk g S size,only size, only g? CD 1 " 1 11 co 5 We Give ITOk ® jd 18 West « Green W JB ’ Mitchell, Trading a Near S Stamps ■■■■r * MOF Whitehall BASS BASS BASS B~ASS BASS BASS BASS BASS BASS BASS BASS BASS 3