The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-17
Reads With Contempt
Speech M ade by Glass
at Bristol.
CARRIED STOCK
AS SPECULATION
Tells oflPurchase on Margin and
Sale of Shares, and Declares
There Was Not Slightest
Improperly in Legitimate
Transaction-Asked No
Aid From Thompson.
By SENATOR CLAUDE A. SWANSON.
Especial to The Times Dispatch.I

bi scNaTOh CLAUDE a. SWANSON.
Especial to The Times ispatch.J
Washington, ID. c., August 16.-I
have Just read with surprise md con-
tempt the speech that MIR. Glass made
at Bristol, In which he refers to me ms
having improperly used my position rs
IA member Congress md as n member
of the Ways and Means Committee of
the House of Representatives to pro-
mote my financial interests.
These statements, which MIR. Glass Is
reported M to have mndc, are false and
slanderous, anu were known by Mr..
Glnss to be fnlse and slanderouu when
he made them. The references which
Mr.. Glass made to my being a stock
holder in the American Tobacco Com
pany must have been the result OF a
false and perverted account which at
one time WINS circulated rs a rumor to
the effect that l was the owner of
stock In the American Tobacco COM
pnny.
While my business transactions can
hardly be a matter OF interest to the
public, I have hnd none which would
he unwilling to throw open to the view
of the Virginia people. When false
and sInnderous statement Is nude I'm
respect to them, I, of course, seek the
first opportunity to give to the public
every fnct, out of which vicious and
slnnderous statements of my opponent
could have grown.
bought Stock on Margin.
In 1898. while was at Chatham
Va. when Congress was not in session.
I purchased on margin 200 shares of
the stock of the American Tobacco
Company. put up the usual margin
required by brokers in speculative
transactions. The stock was never In
my possession, and I do not suppose
II was ever transferred to my name
on the books of the company. The
broker held the stock only short
time. and I never voted 1t or gave
any one proxy to vote IT.
IT was never in any essential sense
q stockholder, but simply carried the
200 shares of stock as speculation,
through the agency of a broker, with
the view to making a speculative profit
1t was a stock traded in on the mar
ket and thought II was low and
thought by buying some of 1t and hold
ing II for a short time that 1 could
make a profit. 1t was a perfectly le-
Ultimate transaction made by me on
strictly business principles. There
was not the slightest improperly in 1t.
A year or two later when Congress
was not in session and when no leg
isiaticn was pending or contemplated
and when I had no more knowledge
or no more opportunity for knowledge
than any other business man I pur-
chased ESQ shares of this stock on
margin for similar speculative purposes
and in the usual way. This stock was
sold shortly afterwards. The two
transactions were similar and there
was not the slightest wrong or impro-
priety in either case.
Manifestation of Malice.
NO doubt Mr.. Glass through some
busybody heard some rumor about
these purchases OF stock on my part.
These are the only transactions l ever
had in the stock OF the American To-
bacco Company and constitute the only
connection I ever had with the COM
pany or any Of it's business affairs.
The attempt which Mr.. Glass has made
to catch hold of some rumor about
these matters and pervert the same to
evil purposes is manifestation OF his
malice and enmity toward me which
have characterized his candidacy from
Its inception. | have given fully and
frankly all the facts and ! am willing
to have the Judgment OF the people OF
Virginia in respect to fair and rea-
sonablc transaction on my part which
Mr.. Glass. for his own aggrandizement.
has m!srepresented in a malicious and
vindictive spirit.
not by any possibility have had any
relation to or influence on my official
conduct as a member OF Congress. I
Will take occasion to say that my record
Will disclose that in all my votes and
actions. both as member OF the Ways
and Means Committee and as Con-
gresham. l supported the measures
which were beneficial to the tobacco
growers and independent tobacco man
No 4 4.
merous resolutions were passed by
these bodies thanking me for my in
variable loyalty to their interests.
invite the fullest scrutiny of my record
in this respect
Charge a Fabrication.
II notice in the same speech Mr..
Glass charges that Mr.. ]. S. B. Thomp-
son came to Washington and demanded
my appointment as Senator. In reply
to this desire TO say that at no time
did I or any one for me In any way
communicate with Mr.. Thompson. nor
did he or any one for him communi-
cate with me in regard TO my appoint
ment as United states Senator, never
had the slightest Information from any
source as to anything Mr.. Thompson
did or what his preference was in ref
ereEce to this senatorship. l am sats
isfed the charge is a pure fabrication.
and l do not believe Mr.. Glass can
name a human being who is willing to
be resopnsible for the statement he
has made. and he owes IL to the public
TO name his source OF Information or
admit that no hax wtltully falsiaed the
truth"