The sun., 1919-06-08
NEWMAN WILL TELL
JURY OF OIL DEALS
Range Burnett Promoter
Valves Immunity and Says
He Will Name Culprits.
PIERCE RECORDS SEIZED
One Telegram Advises Quiet
Until "Centre Street" Mat
tiers Are Settled.

Paul A Newman, the broker of Is
Broad street who exploited the stock OF
the Rangeburnett Oil Company and says
he would have had all the money in the
world II he had supported the market
few days longer, announced yesterday
that he would go before the Grand Jury
on Monday as volunteer witness and
tell the story OF Rangeburnett from be-
ginning to end. He said he would waive
immunity and felt sure that when he had
given call the facts'' the Grand Jury
would see that IL any wrong had been
done not he but others whom ne would
name were the culprita
Newman said he came to this decision
after another OF the series OF talks which
ne mas had with Assistant District At
torney Dooling In the latter's Office. He
added that he had given Mr.. Dooling &C.
cess to every record and paper relating
to his Rangeburnett dealings and held
back nothing in the way of Information.
What he wanted, he said, was com
plete generation and felt that the best
way to get 1t was to tell the Grand Jury
ALI he knew. He admitted that he had
In the past boosted the stock of several
companies which were carried to the cor
poration graveyard after a lively but
brief CAREER. but asserted that he per-
sonally had reimbursed stockholders who
lost after buying from him.
Il never heard of any other broker
doing this" said Newman. He still pro
fesses great faith in Rangeburnett az
a speculative bargain.
Pierce a Co.'s Books Examined.
Mr.. Doolins. with Detective John
Cuniff, went yesterday to the brokerage
office OF Walter ]. Pierce & Co.. 81
wall street. and took some books and
papers back to the District Attorney
once. Pierce helped Newman in the
Rangeburnett campaign on the curb and
also advertised the stock In one of
the advertisements printed over his
name there was featured an assertion
that some OF his customers had made
as high as 500 per cent Pierce left
New York last Sunday and Is now
supposed to be in Bay City, Tex, look
ing after oil matters. None of the en-
ployees in the office yesterday would
admit being In charge. One of the tele-
grams read by the Assistant District
Attorney was sent from Bay City on
Friday to C. d. Fomhof, In care of
Walter J. Pierce & Co., 81 Wall street.
1t said:
Wire regarding market received.
1t would be foolish to support the
market until matters on Centre street
are definitely settled. This. you know,
Is out OF my hands, as advised you
before leaving. You can easily ex-
plain this to those close to us
w. J. PIERCE.
The District Attorneys office is in
Centre street.
What use Mr.. Doolins can mako OF
the papers he got at Pierce's Office is not
clear. District Attorney Swami said a
few days ago that under the court de-
cision in the Jared Flagg case. 1t is
futile to raid brokerage offices, for MOTH
ing found there can be used against the
broker. Mr.. Dooling declined to speak
OF the invasion Of the Pierce Offices as a
raid. He said II was merely a visit"
Later he questioned ]. w. Neil. F. J.
Coventry and c. d. Fomhof of the Pierce
star also William o. Stoddard OF the
Dispatch Printing Company. Lafayette
street. which printed some OF the New
man and Pierce advertising.
Tricks of the OIL Game.
~ @No" 1Oih Interested
Texas oil wells. which he vows are gen
uine told Mr.. Dooling yesterday Of tricks
he had heard about One prospector.
finding little oil but considerable gas
spilled the oil back into the we'll and
then capped It He spread the word OF
mighty oil discovery. got a crowd
around the derrick on an appointed day
and took OF the cap. Up came the
planted oil in a geyser. forced by gas
The prospector sold $4,000 worth OF
oil stock on the spot and left town that
night.
Two men trying to corner all the
whiskey in the oil country rode I'D to a
farm house, and In the accepted man.
ner asked the farmer II he had any
pink tea"
Two thousand bottles in the barn. :
Whispered the farmer. Sell It for 81 q
bottle"
The spectators took look. paid the
farmer $4,000 and carted the stun away
Next day they were mad but helpless
The fluid In the bottles was Just what
the farmer said II was-pink tea.
That's aside from the oil business -
the lawyer remarked to Mr.. Dooling
but 1t shows that the natives are usinE
their wits as well as the mob of sharp.
ers that are overrunning the oil fields
Paul Newman repeated yesterday his
assertion that "all those fellows on the
curb are crooks" but begged that It be
clearly Bet forth he meant the men asst
ually operating on the Broad STRAIT