3 TIIE MORMXG OREGOXIAN, WEDXESDAT, JANUARY 24, 1917. BROKERS ORDERED TO PRODUCE LISTS lew York Exchange Officials Sharply Called to Time by Leak Investigators. HARDSHIP IS ASSERTED Covepnors Say 'They Desire to Pro tect "Innocent Purchasers" and Preserve Confidence . Due to Tbelr Clients. KEW YORK, Jan. 23. Confronted with a threat by the House rules com mittee In charge of the "leak" Inquiry to force the production of brokers' records, If not produced voluntarily, the board of governors of the New York Stock Exchange tonight request ed every member of the exchange to make available for the committee the desired data. The records sought cov er the period from December 10 to De cember 23, during- which time, It Is al leged, persons in possession of ad vance Information on the President's peace note made huge profits in the stock market. The action of the board followed no tice given by the rules committee at its Bession here today that action on the committee's request for the product ion of the brokers' accounts. Including the "real names" of customers who dealt in the market during the period mentioned and the extent of their op erations on either side of the account, had been postponed. i Prompt Compliance Demanded. Surprised and indignant over the ac tion of the board, the committee ad vised H. G. S. Noble, president of the Exchange, who, accompanied by coun sel, brought news of the postponement, that it would not modify its request In any manner. If the board had any suggestions of modification, Noble was told, the committee would receive them, but if it failed to obtain the produc tion of the desired accounts the com mittee would exercise its power and force each broker individually to pro duce them. Prompt compliance by the board of governors, the committee made clear, was desired. Noble explained the reasons for" the postponement were that the production of accounts would prove a great hard Bhip to many brokers "who are not mixed up In this matter" and that the board was In doubt as to its power" to compel the members of the Exchange to' produce their records. Noble's counsel, Samuel L. Taylor, also ex plained the brokers were greatly averse to submitting their records to the com mittee through fear that many "in nocent" purchasers' names would be made public Relations between broker end client were regarded in Wall street, he said, as quite as confidential as those of lawyer and client. Names to Be Protected. Both Chairman Henry, of the com mittee, and Sherman L. Whipple, its counsel, hastened to explain that it was xtot the committee's desire to , make public the names of anyone whose trad ings would not- tend to throw light on the "leak" rumors and the names revealed probably would not be numer ous. Whipple said he was willing the real names should be given the chair man of the Stock Exchange clearing house committee in sealed envelopes, to be opened and examined by the expert accountants of the committe only if developments in the inquiry appeared to render their examination material. The offer to receive the names in sealed envelopes apparently appealed to the board of governors, for In a set of resolutions adopted at their hurriedly-called second meeting Mr. Whipple's words virtually were incorporated. The resolutions asked specifically that the members furnish the chairman of the clearing-house committee with statements showing on what stocks customers were long and short at the end of each day between December 10 and December 23, the real names of the customers, the stocks- dealt in and the number of shares each. What clearing house stocks were borrowed, when and from whom borrowed and when re turned also are to be included. Telegraphic Tip Inquired Into. Members further are requested In Mother resolution to advise the sec retary of the exchange if they received any cable or wireless communications from abroad with reference to the president's peace note before It was made public here. The committee, advised by telephone f the action taken by the. board of governors at the second meeting, ex pressed satisfaction. Notwithstanding the action of the board, doubt still exists In some quarters as to whether the members will furnish the desired information. Whether the board would have power to punish members who failed to com ply is a. moot question. - When this point was raised this afternoon by Mr. Taylor, Mr. Whipple expressed the view that the constitution of the Exchange did provide for forcing the production of books at such an inquiry as the present one. Mr. Noble and Samuel F. Streit, chairman of the New York Stock Ex change clearing-house committee, were the only witnesses examined today. They were questioned by Mr. Whipple ns to the power of experienced specu lative cliques to manipulate the mar ket by "short" selling at the expense of "the public," and to take advantage of "unfavorable news" in order to de press prices and "cover" at a profit. "Short sale" speculators are alleged to have been the "leak" beneficiaries. Public Seldom "Sell Short." Both witnesses were required to de scribe in detail the operations of the fritock Exchange machinery, with spe cial attention to methods used to sell the market "short." Mr. Whipple brought out with particular emphasis that the so-called "public" seldom sold "'short." the large majority of such transactions being conducted by pro fessional operators. The attorney also elicited the infor- NUXATEO IRON Ino ruses strength aof delicate, nervous. rundown people 200 per cent in ten days in many instances. $100 forfeit if it falls as per full ex planation in large article soon to ap pear In this Danir. Ask vour 'donfnp rw druggist bonrit- The Owl Drug Co. aim-ays carry it in stock. f. in 1 1 ii u nnii. mi e'W.i-N.S'S.i.'1 mm mm Absolutely Removes Indigestion. Onepackage proves it 25c at all druggists. BOSTON LAWYER CHOSEN TO DIRECT LEAK. INVESTIGATION FOR CONGRESS. iSbjS'SjJ - v'-'sv .- . vr?-i JVvV .'?:.. . . Y S-i'S 1 ' " i t & 1 ' f j ' rrft ijtrninr i iiiiu lH 1m mtit nin ' iiiiii' mi fnTiiiiwiimmifiimairifiiiom- rnrmr Yniiwfii Underwood Copyright Photo, SIIERMAJf I WHIPfLK. matlon it was the practice of brokers with the consent of their customers to lend stocks bought on margin to other brokers, who in turn used them for "short" sale transactions. Thus, it was explained, the stocks of the customer who hopes to pvofit by. a rising market could become a weapon in the hands of the "short" sale speculator who hopes for a falling market. Mr. Streit defended "short" selling as a necessary requisite to a "free mar ket," and said that experience in Ger many and France had shown it was in advisable for economic reasons to dis pense with if. He conceded, however, that if "short" selling should be abolished there would not be so much speculation. Manipulation Never Investigated. The examination of Mr. Noble re volved largely around the question as to whether there was actual manipu lation by combination of speculators on the "short side of the market." Mr. Noble testified he had read In the newspapers such operations went con ducted, but added none ever had been Investigated by the board of governors. Whipple pursued this line of inter rogation vigorously, demanding to know why, in the face of many per sistent reports of short selling in "re sponsible Journals," the board had taken no action. Noble said there had never been a clear case that he knew of. Turning to Mr. Noble's personal views of the ethics of the market. Mr. Whipple inquired diligently In many different forms if he considered "short" sale operations designed to accentuate unfavorable news in order to depress prices and take profits were "immoral." The witness finally conceded he saw no impropriety in these operations, but on resuming the stand at his own re quest later in the day amended his answer. He said he had misunderstood the tenor of Mr. Whipple's question and explained that he did not approve of "a concerted action or conspiracy to depress the market artificially." LINER'S SALE CONFIRMED Minnesota to Be Pnt in Munitions Carrying Trade. SAN FRANCISCO. Jan. 23. (Special.) After lying inactive in the harbor of San Francisco since December 14, 1915. the mammoth Hill liner Minnesota, has been sold and soon will go to the Atlantic Coast, according to reliable information received here. The big carrier is said to have been taken over by the International Mercantile Marine at a price reported unofficially to be close to $4,000,000. It is understood here that the sale was made by V. C McCIellan. ship's broker, of New York and Chicago, in whose hands the Minnesota has been for the past five months. San Francisco steamship men believe that the Minnesota will be placed In the munitions carrying tfcde to Europe. PUPILS HEJLP BELGIANS Paper Collected to Raise Money lor . War-Stricken Children. A plea for the relief of Belgian chil dren, given at the meeting of the Pro gressive Business Men's Club last Thursday by Professor Albert von Hecke. of the University of Louvain, has borne fruit in Couch School. At the suggestion of A. M. Cannon, principal of the school, the pupils have begun to collect old papers and maga Eines, that will be sold to the Pacific Waste Paper Company at 114 a ton. The money thus collected will be for warded to the relief committee in New YorkT A quarter of & ton of paper has been collected this week, and last Saturday Mr. Cannon sold almost half a ton. EPISCOPAL CONVENTION ON Bishop Sumner, ol Oregon, at Cali fornia Gathering. SAN FRANCISCO. Jan. 23. Bishop William Ford Nichols opened the 67th annual convention of the Episcopal dio cese of California here today. Ideal Ism In the church and a greater degree of devotion was the keynote of his annual report. "We are a long way from idealism now," he said. "Set thy house In order" was his text, and in his address he pleaded for a deeper Interest in church work among laymen. Bishop Walter Taylor Sumner, "of Oregon, attended. ' LUMBER POLICY HIT Forest Service Urges Entire Realignment of Industry. FEDERAL HELP PROPOSED National Trade Commission Con- curs In Report Blaming High Prices on Wasteful Meth ods Ine to Speculation. WASHINGTON, Jan. 23. A plea for complete realignment of the lumber in dustry so as to eliminate speculative forest ownership, over-cutting and a tendency to disregard the public inter est in regulating production was made by the Forest Service tonight in a re view, concurred .in by the Federal Trade Commission, summarizing a sur vey of the industry Just completed by the two bodies. The productive branch of the lumber business, declares the report, "has been Interlocked too largely with specula tions in Its raw material and has been made frequently to serve the exigencies of timber speculation." It adds that the result has been an ill adjustment leading to "almost chronic over-production, making un warranted inroads upon forest re sources already becoming inadequate to the country s needs." Agitation for Industrial combinations for regulating production and prioes is condemned as leading to restraint of trade and offering no adequate solution of the problem, but the report advo cates "such forms of co-operation as trade associations and selling agencies, safeguarded by public supervision and regulation. Although the Trade Commission eon curred in the report, it will prepare a separate finding later to lay before Congress. In a preliminary report sev eral months ago the Commission laid the blame for high lumber prices largely on overhead charges, due to over-production. Members tonight would not reveal whether the final re port would recommend legislation or other legal-remedial steps. CHINA GRANTS DEMANDS PROMISE MADE JAPAN THAT OFFI. CEHS WILL BE PUNISHED. Right of Japanese to Police Manchuria Denied and. Offer of Military Advice Ignored. PEKIN. Jan. 23. Dr. Wu Ting Fang, the Foreign Minister, and Baron Haya- shi, Japanese Minister to China, have exchanged final notes for a settlement of the Cheng-chiatun incident. In which Chinese and Japanese troops clashed. China has granted the demands for reprimanding and punishing the re sponsible officers and also has agreed to warn Chinese soldiers against In civility in their treatment of Japanese. She also has granted an indemnity to the Japanese whose case caused the In cldent. She has refused Japan's de mands for police rights in Southern Manchuria and Eastern Inner Mongolia and has disregarded the suggestion for the employment of Japanese mili tary advisers and instructors in the military academy. Japanese correspondence lays empha sis upon Japan's belief that she pos sesses the right to maintain police wherever Japanese settle in Manchuria, but points out that she is withholding further immediate enforcement of that contention in order that the Cheng-chiatun incident may be closed. ' TEUTONS TELL HOW BLOCKADE WAS RUN Coolness Brings Prize Past , British Naval Cordon, Says Commander. IOE ion Fourth and Last Week of Our Annual January PRISONERS FEAR TO ACT Lieutenant Badewltz, Who Brought Yarrowdale Into Port, Says No Hostile Move . Was Tried, aa Ship Would Have Been Sunk. BERLIN. Jan. 23. (By wireless to Salville, N. Y.) Details of the voyage of the British steamer Yarrowdale. cap tured by the German commerce raider in the South Atlantic and brought into Swinemuende, were disclosed today by Naval Lieutenant Badewltz, com mander of the German, prize crew which brought her Into port. In an In terview with a representative of .the Overseas News Agency, which says: -lieutenant Badewltz, who gives the impression of being a true sailor, told the story of his voyage in a modest way. making light of his own part in it- He was asked how he succeeded In bringing the Yarrowdaje through the North Atlantic and the blockade Into the North Sea with a crew of only 16 men and several hundred hostile persons on board. Cool Carelessness Exercised. Tor such an action you need only to exercise coolness and determined, blunt carelessness, especially if you have to' deal with Englishmen,' he re plied. 'In addition, you need to have a handful of smart "boys like mine, who have their hearts in the right place and revolvers In their pockets. Then you can fetch the devil from his own house.' "Questioned as to how he held his oddly mixed members of the prisoner crews under discipline. Lieutenant Badewltz replied: " 'The discipline was first rate. Whenever the -order to go below was issi'ed, the whole crowd of prisoners hurried to the lower decks, running like hares. "Lieutenant Badewltz said he and the 18 men of his own orew never left the bridge of the Yarrowdale and all preparations were made to sink the ship at a moment's notice without leaving the bridge. All on board, he said, knew he would have sunk the vessel in event of a mutiny or a re volt. Captured Captains 'Sensible." The captured captains were sensible and did much to hold their men in check. The prisoners thought they could count on touching at a Norwe gian port. Among them were six mem bers of the British navy, of whom three belonged to an English armed mer chantmen on board which they had served as gunners. "When the Yarrowdale was riding at anchor south of Island Haven, in the ssund. on account of the fog. one I British naval gunner and one civilian Jumped overboard to swim ashore, but no sooner felt the cold water than they began to cry for help. They were rescued. "Before the war Lieutenant Bade wltz was employed in the merchant service. He lives In Kiel." p e-InventoFy Sajg o D o Wednesday Sale off Embroideries Values to 39c at 15c Yard We have just received a special lot of embroideries from 9 to 27 inches wide to sell at this low price. A fine line of 9 and 12-inch cambric and batiste skirtings, 18-inch corset cover and flouncing-, 27-inch flouncing- in small baby or larger dress patterns. ' Q o o a o Come to This Sale and Pay One-Fourth to One Half Less Than Regular Prices on All Remnants, Odds and Ends and Short Lengths In the Domestic Section ' You Have Choice From Ginghams, Percales, Cotton Suitings, Lawns, Flannelettes, Silk Mixed Fabrics, Tea Cloths, Lunch Cloths, Tray Cloths, Huck Towels, Damask Towels, Bureau Scarfs, Doilies, Napkins, etc. Those who are wise will purchase for both present and future use. Not again for many a day will you meet with such a splen did opportunity for profitable buying of such goods. Pre-Inventory Sale Women's Serge Dresses at $3.98 Regular Values to $7.95 Our regular stock lines in the season's best styles. Sizes 16 to 40. In navy, brown or green. Well-made, perfect-fitting gar ments. Women's Waists , at 59 Regular Values to $1.25 Broken lines, including the most popular styles, with high or low neck and long sleeves. Sizes 36 to 44 only. . o D o -' Pre-Inventory Sale of Women's and Misses9 Shoes at $1.69 Pair Regular Values to $3.00 Broken lines,' including all 6izes from 3 to 5, and only desir able styles and reliable qualities. Most all" come with low heels, patent vamp and mat kid top. The Greatest QorSet SfileS Choice From Such Well-Known Makes as R. & G., Henderson and Merito Broken Lines and Dis- QFp continued Numbers, Regularly Sold to $2.00 Pair, at atlU In the assortment will be found a model to suit every figure and all sizes. Lines Selling Regularly to $3 in Above Makes Have J- A f? Been Reduced for This Sale to the Special, Price, Pair p Xerttl This season's popular styles, with medium or low bust and the fashionable topless models. Many are shown in front-lace styles. The materials are batistes, brocades, light and heavy coutils, both in white and in pink. SATISFACTION GUARANTEED. gjRemember the Advantages of First Choice 31 D o o n o o D o o D o o D o o n o o D o ' Store Opens JiZh xl?2rfl Store Closes at 8:30 A. M. &wW4lf&( at 5:30 P. Bt Saturdays SASS Saturdays at 9 A. M. 'l,lSR5p?iSBa.1.i2 at 6 P.M. The Most in Value The Best in Quality D o o D o aoi JEWS IN PRESSING NEED Distressing Situation Is Depicted by Ambassador Francis. NEW YORK, Jan. 23 If the Jewish war sufferers in Russia are to sur vive the Winter $250,000 monthly must be contributed by the joint distribution committee of funds for Jewish war suf ferers, according to a cabled message which that organization announred to day it .had received from David R. Francis, American Ambassador to Rus sia. The . Russian government la feeding, housing and providing- fuel for only 105,000 refugees, according to the mes sage, and there are more than 130,000 other persons dependent xtpoa outside relief. The committee announced that In formation from Vienna shows that the Jewish fund sent from America is as sisting 75,000 Jewish refugees in Bo hemia, 31.300 In Mahrend, 7000 in East ern Silistrla. 60,000 in Vienna and Southern Austria,' 200.000 in Western Austria and 140,000 in other localities of Austria. BIG TIMBER DEAL CLOSED (Oootlntied From Ftrat Page.) PuBola interests in Oregon, and Paul C Bates, of Portland, who acted as in termediary In the deal, accompanied Mr. Early to Ogden, where details of the sale were virtually completed yesterday. Read The Oresonian classified ads. EXPLOSION FATALITIES 69 In Addition 73 Are Seriously and 228 Slightly Injured. LONDON, Jan. 23. The casualties to date in last Friday night's explosion in an East London munition factory were officially announced today to comprise 69 killed, 72 seriously Injured and 328 slightly injured. This, it is said, is be lieved to comprise the entire list. The official announcement follows: . "It is hoped that all known to have been in the various factories and in the dwelling-houses affected by the recent explosion in East London are now ac counted for. At the time of the out break the, number working in the ex plosive factory was: Men, 39; women, 10. Believed safe of these: Men. 18; women, 9. Total known casualties at 10 o'clock this morning were: Killed Men, 44: women, 11; children, 14; total, 69. Seriously injured Men. 19; women, 84; children, 19; total. 72. Slightly in jured Men. 1S5; women, 102; children, 71; total. 328." ' WOMEN INVITED TO MARCH State Organizations Are Asked to Be in Inaugural Parade. WASHINGTON, Jan. 23. Women's or ganizations of every state were invited today through the Governors to partici pate in the inaugural parade March 6 by Mrs. James H. Boggs. chairman of the women's division of the inaugural committee. "The history of the last four yearn has done nfuch toward giving woman a place In public affairs which she never occupied before," wrote Mrs. Boggs in sending the Invitation to the Governors. The degree to which she is asked to participate in the Inaugural parade is but a visible evidence of this growth of woman's influence." " Partner Accused of Theft,'' ASTORIA. Or., Jan. 23. (Special.) Thomas P. Ward, who for - several months has conducted a small meat market here, and who left suddenly a few days ago, haa been arrested at San Francisco on a charge of larceny by bailee. He is accused of stealing a1 watch- valued -at- flUO from- -Nicn I nomas, his partner. j f,lEfl FIGHT IN COLO Russians Favored in North, Germans in Roumania. GREAT DRIVE DUE SOON Unprecedented Offensive Expected at First Favorable Opportunity. British Take Over Large Section of French Iilne. BERLIN. Jan. 22. (By wireless to the Associated Press, via Sayville, Jan. 23.) Heavy sitowfalls followed by bitingly cold weather on all the battle fronts, have helped rather than hindered the fighting. During the past 48 hours, the weather man seemingly has been entirely im partial, for the cold snap, which in the northeast has enabled the Russians to cross the swamps -between Riga and Dvinsk and to attack the German posi tions also has made it possible for the Germans in Roumania to approach Galatz, which ordinarily is protected by swamps. Artillery Duels Increase. In the west Intensely cold weather has been accompanied only partly by a cKear atmosphere, enabling the fliers to resume their activity. Neither side, however, has been specially favored. Artillery duels have increased at frequent intervals all along the line from the coast to the Swiss border. Exceptionally active patrolling by the entente forces has not prevented the Germans from discovering that the French recently have withdrawn to a large extent from their old positions on the Somme front as far south, as Peronne and that they have been re nlaced by British troops, presumably in order to give the French divisions an opportunity to rest in preparation lor a gigantic test of strength which is ex pected by every one at the first favor able opportunity. . Great Offensive Predicted. The impression from a visit to any part of the front 1b that both sides expect an unpreceaenteo otiensive De fore lonir and that the present artil Wbeleaale Retail Iatabliaa.ed lSOe. Oriental Rugs Buy Now and Save 25 Never Again Will You Have Such an Opportunity Cartozian Bros. Importers of Oriental Rugs. Washington at Tenth, Pittock Blk. lery and. patrol activity to which the fighting now Is limited is more or less a kind of jockeying for the start to enable one opponent to gain the advan tage by being then first to assume the offensive. In the east, the cold weather is hold ing up operations considerably but Is not preventing the Russians in the Eastern Carpathians from making desperate efforts to save themselves from being forced backward to such an extent that their positions on the Upper Sereth River will be flanked and taken. Stories of alleged tremendous Ger man losses in the Carpathians and in Roumania are vigorously" denied here and it Is said that one ordinary Ger man division suffered losses of only 500 men in capturing more than BOO Rus sian officers and 39.000 soldiers. Mill May Reopen. Proposals for reopening the mill of the North Pacific Lumber Company hve been under consideration by the Introduced In the Assembly today. receivers for several days, and it is expected that a decision will be reached in- & short time whether any of the bids will be accepted. The company was embarrassed a ahort time ago by the foreclosure of two mortgages. It is said that the affairs of the company can be so adjusted that it will be pos sible to reopen the mill on & leasing basis or to dispose of the property through actual sale. Canada's Trade Greatly Increased. OTTAWA. Jan. 2S. Canada's trade for the first nine months of the fiscal year, ending March next, amounted to 1. 700.663. 269. an increase of $688,077. 269 over the corresponding period in 1915. it was announced here today. Dry Bill Offered In Wisconsin. MADISON. Wis.. Jan. 23. A bill pro viding for a statewide referendum on the prohibition question In 1918 was Through California Go East Through the Riviera of America The). Way Go Take Boat or Rail to San Fran , cisco, Then the Santa Fe to Denver-Kansas City ..Chicago It's Also a Quick Way to N ew York Grand Canyon Also on Your Way II. Tt. FHAXC1SCO General Agent 123 Third Street Ilave bands and tops curve cut to fit the anatomy of the shoulders. TALBOT 2K in ArrowjWk Collars ' Do not press against the neck or shouldere do not chafe the shirt waistcoat cannot rise up under collar. 2 or 30 eenit CLUETT, PEA BODY c CO.. INC. MAKERS. TROY. N. Y.