Show NC IN STOCKS ADMITTED Operations on New mew ew York Exchange Declared ly by y Governors of Body to Be I. I Its Power to Regulate OW NO WAY TO STOP SHORT SELLING a aIs Is ls put Out of Date as Dis Dis- fonest nest Partners Sold Each 1 Ither ther Out Out Monopoly Monopoly Maintained Main Main- Main Main-I ined in Engrav Engraving ng of Bonds I ASHINGTON Dec 13 Man Manipulation and short sales on New York stock market as a ans aus HIS us ns of of gambling arid and the methods tock stock exchange brokers formed the theis is ag of today's hearing before tho nay Iney tr trust st committee of the House rank Frank K IC Sturgis and Rudolph the New York governors r of ck exchange and Harry Content nd uel F. F Streit Stroit and aud J. J P P. Grier kers ers were the tIle witnesses examined ayl ay After they had been ques ques- ed Samuel counsel counsell l lle committee look took up the tile relas rela rela- s between the stock exchange an anNew and New York Bank Note ote company Sch h b cannot secure listing on the tho for stock certificates which rr ra es r. r In his examination of or stock exchange representatives cs tu 11 vain ain to secure a a. description Methods o ot manipulation employed vance or 01 depre depress the price of tf Bach o OX othe the witnesses denied 4 ever evor been een a a. party art to a a. pool atme ar- ar Ement me t for or m manipulation Operation F and Mr test test- fi h however we cr that in hi theIr opinion of ot the operations on th the ex- ex re c Including manipulation Uon and t f tl were of or a gambling nai na- na n- n i 1 Both agreed that these thele matters rs f Id a 11 not be lie e regulated b by the o 0 G body short hort selling ins is a a. match which ry y Individual must settle with his l conscIence cl nce said sad Mr Sturgis ls I. I the conclusion of his testimony put Jut Into tho the record part speech ho lie had made b before foro the thees theles les elS es commission which Investigated In stock Lock exchange and a copy of or the thee thees theles les e es ma made o b by the law committee of or I. I board ioard of or governors of exchange to I bus Hons submitted 1 by the time Hughes Huhes i Ills s Jon uel F. F of oC the arbitration S i clearing house committee of ot the exchange told the committee tint e e maintains a security on Pago 10 10 Column 1 ft I STOCK GAMBLING METHODS BARED t I Questionable e Operations on New e U York Exchange Disclosed Disclosed Dis Dis- closed in in Investigation tion Continued From rom P Paso Pago ge 1 clearing clearing- clearinghouse house whore the transaction oa cleared between t n 1 00 on tho floor loor are brokers Su gC f Check on Broker Brok J Mr r suggested that this 1 clearing house might Insist on Having Having- I brokers deliver tho the cr of or caten of or stock In which they traded d to I j the clearing house and thus prevent dealings In stock which is not owned I Mr StreIt did not favor or this and said h he could tell nothing of oC the o effect of such a regulation on short I sales pales Ran Harry Content paid Bald ho he had managed ed a pool for manipulating manipulating- a line lino of oC stock f 1 He no Ie said that the Idea of oC forming a wool pool was an nn old one no longer em em- J A 1 number of ot big operators a worked Individually he ho said Why Wh Is that Mr asked T They e find It ft safer to to ha have no 10 par part part- l ners replied air 11 Tile rue ners JelS u used d to sell bell ell elicit each other nut Sir Mr rr Content said he ho believed belle cross or orders er of or sales sale nn and purchases 9 of or the tho th 1 same sarno stock were legitimate Ho He did lid I n not t think manipulations to raise or ori i depress tho the prices of or stock stoel deceived f r tho the public I Do Boycott ott on Comi an George Georgo 1 Field vice president of the New ew York Bank Note ote com company pan te teJi tea te-J- i that the exchange had ruled the work o of his company company compan off tho stock I list antI and that the thc b bulk of or the work forr for Cor r chan e tock stock was d done no by the tho American American Ameri merl can an Bank Note ote e company Ho produced a n. voluminous correspondence charging tho the American nh company Compan with ling 1 the engraving of stocks and j hands bonds with tho the aid of the stock ex ec change I A similar charge charse In tho report of oC the Hughes commission was placed d in the j record This phase of the Inquiry Mr Ir said ald was Introduced at the request of or Mayor Gaynor of New York and Governor GO of or Rhode e Island Bonds engraved ed b by the New ew York com com- I 1 rany pany for Cor New York CIl City and anil for the f state tate of or Rhode Island Mrs Field testis telU- telU I I f i s tied fied have ha been refused listing on the tho exchange tho |