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stock gambling UPTOEXCHANGE SMITH Chairman of Law Committee of New York Pit Admits It Can Stop Manipulation. \\ \sHINGTON, Dec. 13.—Frank K. q ,-Lis- chairman of the law committee ' r ~. New York stock exchange, ad- ■ ; . t 0 the house money trust inves rgatii1 ’ committee today that the ex "could prevent both short selling "imipulation if it saw fit to do so. mess said that he did not per approve of short selling and ornereS by Samuel Untermeyer, .for the committee, as to why he .ver urged this reform in his 30- v.-ars ot experience on the stock exchange, he said he was not “reading , r , lectures to the other people of the . .immunity." Untermeyer asked him if he kftew ■ . ~verage daily transactions of the ■ xehange. and he said he did not. Old your committee supply the Hughes commission with data on these ■'.'nsa.'tions?" asked Untermeyer, ■I don t remember. We gave them ; data.” said Sturgis. I’ntermeyer pointed out that the Ag ues he had showed about an average 0 .- ifltl.ooO shares yearly. Sturgis was not sure that was right. i m all these transactions 25 cents a share commission was paid to brokers, <V i. t not?” asked Untern»eyer. Not on all of them. Some of the .inkers may have been acting H-ives. Somewhere between one-quar ter and 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 third of the active business was from brokers. He said the rate of commis sions varied a good deal, only $2 for 100 shares being paid tn 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 hafl to be paid to brokers. •As it not a fact that tho 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 Burtgis. "Short selling is practically selling something you haven’t got, isn’t it?” asked Untermeyer. "Yes,” said the witness. "Is 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 eaught with a lot of long securities, and they are able to repair their cred its 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 bo 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 And 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.” Untermeyer reviewed the arguments m favor of short selling as a balancing force in a rising market, but then came back to the question of gambling. "Don't you think the moral obliquy of such a transaction outweighs any argument in its favor?" he said. Yes, I do, personally.” V a matter of tact, it is mere gambling, is jt not?” Yes, very likely.” Untermeyer asked Sturgis if such transactions as the Hocking pooi did not hurt American credit abroad. Un • oulitedly they did, he said. In the 11 1 king pool case stock exchange firms " took part in it were censured, the ' "'itness said. Reckless Firms Suspended. But they were not suspended, were they?" .... Jwo firms were suspended because '•••>■ went beyond their means. They reckless. The others were not 'uspended because they kept within mlr means.” 1 ,l “ witness could not agree with Un ‘■inoyer to the distinction the ex , "ng. had found between those “cen l'” 1 ' and those "suspended.” nternieyer showed Sturgis figures Um king assets, and asked if there -i . i- 111 ’ 5 evi, d reason for boosting the 1 think it was a very poor invest- 1 ' ' ■ the witness said, call that an investment?" ' all It a purchase, then." ei meyer went into the question ■•'Vertising stocks by making them io be active and how the pur . was drawn into pools by ullur *— promises. 4 CONVICTS AWAIT SUMMONS TO DIE ON OREGON SCAFFOLD SALEM. GREG., Dec. 13.—Four men convicted of murder and 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 he done. Recently he said he would not interfere again. The condemned men are Noble kauldner, Michael Morgan, Frank Gar rison and E. E. Roberts. RED MEN HOLD ANNUAL ‘POWWOW' ON MONDAY The fourteenth annual “pow-wow" of ( hoctaw tribe No. 35, Improved Or der of Red Men, will take place next Monday night at the ha(l, Decatur and Moore streets. The following program has been arranged: Welcome address, E. A. Baughan. past great sachem of Georgia; address on Redmanship, Great Junior Sagamore r, H. Jeffries; “The Burning of Rome." solo, by Miss Ethel Hudson; "Long Talk,” Past Great Sachem Frank F. Smith; black-face comedy sketch. Frank C. Holmes; "Long Talk,” Great Junior Sagamore of Georgia Jack R. Miller; “Long Talk,” Past Sachem W H. Abbott. The public is invited. AVIATOR ATWOOD’S WIFE IS IN RENO FOR DIVORCE RENO, NEV., 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 todav 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 ojt 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 chapel to await funeral arrangements. THE STORE OF THE M. RICH & BROS. CO, 1 ;■ •& g 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 forever. We doubt if any jewelry store shows more or varied designs, and we’re fairly sure that no jewelry store has 10-kt. gold jewelry pieces at 98c. S* =2? XV Tor handsome Scarf Pins in this edges, some embossed, others with signets. 5 lot; none worth less than $2.00; Only 98c. Vi ■ * </OVmany worth a half more. Solid Tie Clasps-Oval and square shapes, plain 2? • i t gold pins and mountings va- signet> embossed or engraved designs. riously set with doublets and real stones. Some to match ]illks . 98c Na Bar Pins—Plain or embossed; beautiful de- \ ♦ , . , m ~ riS signs 98c. Rings—Assorted styles. Tiffany settings, Beauty Pins—Some to match above; the with various kinds of stones. For men and J jg pair, 98c. women ' 98c ’ Jr □J Cuff Links—Over 50 styles, plain or headed (Famous Center Aisle—Main Floor) ■ Bags With $3.50 Frames Brass Goods Sale Hereafter we shall not handle Jsp W /"!>• certain lines of brass goods and J* ** their discontinuance means these gjy 3 Taking his surplus stock of S umbrella stand, $ 12 . 5 0. g handsome frames that go with ~ : ao a *o -nt, xu Em P‘ r e umbrella stand, $12.50. X- $3 and $3.00 bags the maker $] 1 Gilt used his usual materials, and W Gilt. Flower basket, $7.50. £ lo!-a better bag than you or sio Ant. Brass Jardiniere, $7.50. r h rn O e Tr\ S ’ een " f Brass Jardiniere, 12-in., $lO. -to bag at 98c that IS easily worth $ 18 .50 Jardiniere. 14-in„ $12.50. SR $1.50 to $2. $17.50 Brass Jardiniere, 12-in. size, Frames are German silver and German silver gold plated, gun *im hr p l2 'i so ' metal and leather covered. Seal and walrus grain leather, moire $”5 Brass Wood Batke/spn’ 9 ' and leather lined, creased and round bottoms. Fitted with coin L. ' s XVood Bask et, S2O. TH purse. Sizes and styles to please all. Black only, 98c. Tube Brass Gongs, $6. (Center Aisle—Main Floor) (Brass Goods—Third Floor) E $1 Union Suits Two Toyland Specials, at 5 a K ‘“"-"“ de uprigl ' 1 d °" a ? ‘’seconds” le t pianos, of rosewood finish; com- M > hiln have his way; F>lete with ten (10) keys; 7 1-2 > W there is nothing about them to inches high; 10 inches long. M Jm hlir ' Trunks—Doll trunks, 13 inches *5 Made of soft Sea Island cotton, long, 8 inches high, with tray iBW* fine ribbed, ankle length, long inside: of wood, and paper eov- Jr Sr* * BleeVeS ' 4, 5 and 6. ta 50c Undershirts, 25c there will be none for late comers. JG For the same reason. Same style No phone orders on either of these specials. as above. Sizes 4, 5 and 6. <RC" (Underwear—Main Floor) (Toyland Annex. Main Floor—Right Aisle) J When You Give Gloves Chiffon and Auto Veils g Remember these makes: Fovvnes, Trefousse, In Xmas Boxes: Special J * Vallier. iroji abroad; Bacmo, Dempster and Just 300 attractive chiffon veils, 2 art xx 2® Place Ireland, Fiske, Clarke & Clagg, from yards long and 27 inches wide. Have [ZQ/, ggrf deep satin borders. White, black and 3* at home. all colors; all ready in a pretty Poin- JW For these are the best of the world's settia Xmas box. 300 should not last out the day ' —, at the price of 59c. I gloves—time-tested and true. r-u tt -i They are here in every color, style and Onitton Veils $1.50 size. Priced to *l. and any pair will be pret- bv Y“^' h b 1 E. V : l X W, . , ,7X^ rder '’ : = wU 3? M tily boxed upon request. Maline Scarfs Are New 5Q i -W Continuing the sale of Ladies, Misses and ™ u . . . ... , , . , , ■■Z Children’s 50c. 75c and SI.OO Gloves at 25c. Broken fI, . JUSt i ‘""’m,, 01 ? ““J “J’' 1 t ? re „ fi,llßhort S* i ruiuicii » uj . Wlth s hirred ends or little bow knots. Easily made lines and sizes. Maline by the yard In black, white and all colors, (Gloves. Main Floor—Left) is 25c. M. RICH & BUDS CO. ■»»s M RICH & BROS. CO THE ATLANTA GEORGIAN AND NEWS. FRIDAY, 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 the capitol early this morning, and asked to see the governor. She was there two hours before the governor iwas 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 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 reaph 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. HURT TO RENEW POWER GO. ib Will Appear Before Council Committee Today, and Plans Hard Fight. Joel Hutt, 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 avenue 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 pun- Hc 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 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. "Hass bass bass bass Bass bass bass bass Bass BasS BASS'BASS" 1 Another Great Sale of I Coats and Suits* C/5 , w c/5 > 2 Another great bargain sale of Ladies* Coats 8 $ and Suits will begin in our popular second floor to- g < morrow. Additional lots of the great Ginsberg $ <2 purchase—-and other lines bought at 50 cents on the w < dollar. % Cfi CZ) cj Sale will begin at 8 o’clock Saturday morning. » < Come early. S ca _ . & 3 Suits worth up to Coats worth up to S “ $18.00; d*7 QE $12’50; d'J QE « < choice . <P < • choice .. % < Suits worth up to Coats worth up to S> i&.59.90 5.56.90 i w 9 co < Suits worth up to Coats worth up to $ 3 $30.00; n. 50 $18.00; C7 QC ? S choice.. " choice.. • $ C/5 05 < Suits worth up to Coats worth up to a 8 $40.00; 1 4.50 $25.00; d?Q Qn 5 S choice choice.. W 8 C/5 DO CD > “ Bargain Sale of Dresses “ ’.r> .co ? Extra special sale of new dresses—-satin & messalines, all-wool serges, etc.—all new models and worth up to $15.00. Ctyl QC ft “ Take choice for only ipTr. tzO C/5 00 cn 1 > “ Other Bargains in 2nd Floor “ C/5 00 C/5 200 Children’s Coats; samples Big lot of Eadies’ Waists in new Ladies’ All-Wool Sweaters: worth up to $12.50; ©ZL QE styles; $2.00 QQr* worth up to $4.00; Cl QBS C/5 qq choice values «OG choice</> Satin Messaline Petticoats, worth Ladies’ Vests and Pants; heavy- Ladies' Outing Gowns, lull ::ut up to $5.00; this QE ribbed; 50c values; OEa and well made; m $ sale Oll ly fcWV s].oo values i" Fur Neckpieces, woth up to Ladies’ Union Suits; heavy rib- Ladies’ Ready-to-Wear Hats; , $15.00; on sale ® QfiO bed and fleece-lined; fiQn values up to $5.00; in QQ.. CQ tomorrow at ... SI.OO values . this sale, only -A Handsome Fur Sets, worth up to Children’s Vests and Pants, rib- Ladies' Trimmed Dress Hats. . $20.00; choice, &Q QO bed and fleece-lined; worth up to $15.00; QE C/5 tomorrow MJw.WV per garment I v choice < (7) “ Specials in Blankets and Comforts « C/5 1 > Here 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 c/5 offerings. CO C/5 > Babies’ Crib Blankets, soft, and Extra large and heavy Blankets, i Good size Cotton Comforts, silk- c/5 rd warm; this sale, OOa worth $2.25; at C 1 /I Q oline-covered; Aft- r/5 perpair pair. I only UOC C/5 Special lot of three-quarter size 1 Full size Cotton Comforts, with Q 3 C/j Cotton Blankets; SI.OO AQ/» Large, fine Wool-Mixed Blankets, 1 splendid silkoline C 1 >lO <5- values, per pair $4.00 value; per : covers l c/j fC Single bed size Cotton Blankets. pair Extra size silkoline-covered Cot- C/5 on sale tomorrow, CQf* ton Comforts; 4 QQ C/5 at, pair OS/G Extra large and very fine Cali- $3.00 values I CXS Full 11-4 size heavy Cotton Blan- fornia Wool Blankets; the kind Very fine sateen-covered Cotton kets; In this sale, QOr* 801,1 I’Y Other stores QO Down Comforts; CO CQ pair vOv at $5 and $6; pair ... OiUU this sale CO oo < Table of Novelties, Notions and Furnishings % c/) Big table of Ladies' Belts, Ladies’ and Men's Hose V* CO Supporters, wide Sash Ribbons, Ladies’ and Men’s ft > Neckwear, Jewelry Novelties, etc. AU at 25c for co co | These Extra Specials On Sale Saturday Only I Girls’and Boys* Knit Wool Gloves Men’s $2.00 Kid Gloves on sale New Silver Mesh Hags, in va- ® on sale tomorrow tomorrow only, QCtrx rious styles; $3.98, QO«, at fcWO at, pair $2.98. $1.98 ami . . XfOC C/5 Ladles’ Wool Gloves: verv spe- Ladies' $1.50 grade 2;4dasi> Kid Ladies’ ami Men’s Knit Mufflers; CO C/5 clal values at 50c 250 Gloves in this sale 79C black, white and 25C m Ladles' Jersey Gloves, chamois Ladies’ Silk Automobile Scarfs; Special sale of Ladies’ Hand- C/5 lined; black and col- 9® remarkable bargains kerchiefs tomorrow at g-„ ors; pair WWV at, only anc j wQ > < “ Special sale of Smith’s seamless « co ,> “ all-wool Brussels Art Squares at the CO < following bargain prices: S 6 by9footer Q 9by 12 foot(£Q QA > S size,only s j ze> only CO < We Give A M 18 West g ° re ™ Mk ’ Mitchell, Trading E Near > x Stamps AS W Whitehall BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS BASS 3