Every evening, Wilmington daily commercial., 1920-09-23
CLASH ON CHARGE
THAT cox PROF|TED
IN WALL STREET
Stir at Senate Committee Invcs
tigation of Campaign Funds
of Parties.
THOMPSON ADMITS
LACK OF EVIDENCE

Colonel William Boyce thompson OF
New York, following a charge by Col
onel Thompson that Governor Cox had
obtained part of his fortune IN wall
street operations, marked yesterday alter
Moons session of the Senate committee
which is investigating campaign funds.
Colonel Thompson finally admitted that
he had no evidence OF any KIND 10 SUD-
stantiate his charge.
The colloouy was started when Colonel
THOMPSON, who is chairman of the
Wavs and Means Committee of the Re
publican National Committee, declared to
Senator Reed:
"Don't forget that your candidate has
hrs millions and he got 1T In Wall Street.
senator Reed rejoined Immediately
With a fire of cross-questioning, IN re-
st,onsc to which Colonel Thompson said
he had ''heard rumors' that Governor
Cox speculated in Wall Street and that
hr had also invested in the securities of
some Ohio companies He charged that
call the Wall Street crowd are support
mg Cox and so are the two big financial
papers, The Times and The World.
Colonel Thompson gave no backing for
these rumors and finally said that he did
not know anything bad about the
Democratic nominee. j.
Colonel Thompson, at the outset OF
his testimony, said that the Ways and
Means Committee, of which he Is chair
man, has subcommittee operating IN
practically every State In the Union.
In answer 10 a question as to what
amount the Republicans now expect to
raise, Colonel Thompson said that was
. matter for MIR. Upham, the national
treasurer, 10 answer, since all the rec
ords were in Mr.. Uphams keeping.
Senator KENYON" said Senator Reed,
'has asked YOU about your organization.
Now | want to ask what your organiza-
ton Is dong TO raise money!"
1--WE have spent more than we have
raised, . replied the colonel.
well, how much have you raised!
insisted Senator Reed.
II can't say. The money does not
pass through my hands" Colonel 1'homp-
son answered.
you are no dead cock In the pit.
Now tell us how much you have got and
how YOU got it" said Senator Reed.
II told YOU my function was to organ
i,e. have charge of the organization IN
seven States and the District OF Columbia,
was the reply.
Colonel Thompson explained that the
finance organization IN New York Is
combination national and State affair,
the National Committee receiving SO per
cent and the State organization ~ per
cent of all money collected. In New Jersey
the National Committee gets 60 and the
State and County Committees 40 per
oent Of the fund, and there Is also di-
vision, the percentages not being gwen,
N Maryland.
The amount which the National Com
mittee hopes 10 raise in New York Is
81 coo 900 for the national campaign
fund and about 1915, 900 for the State
campaign, while the amount set for New
Jersey Is, according to Ex-Governor
Stokes, who also testified today, 100000
OF which amount 81, 500 has been OBJ
tanned
The fund we hope to raise IN New
York is roughly s2,000,00O'' said Colonel
Thompson.
1T is very hard collecting now" be
continued. because OF the 81 900 lImita-
ton which has been set for Individual
collections. We feel that there never
Was more righteous cause than ours
and this slush fund talk Is nothing but
bar-room politics.
Lets see if It IL replied Senator Reed.
IL think am correct when say you raised
81 500, 900 before you nominated your
candidate and then you made up an
estimate for S. 600 600, which Is approx
mately 5000. 600. Then Mr. Upham
made budget for SC. 900. 600 and allowed
II 20 the states and then the State organl-
xatlons proceeded TO double the alloca-
tlon making the total about SD 100000"
That's pure bunk stuff, replied
Colonel Thompson, and your candidate
now comes forward and says we are
~ Il III
The National Committee hopes to raise
$4,000, 900 and no gifts IN excess OF 81 900
are being received. Where are the Demo-
crats getting theirs? You viii see Tom
ChadbOurne
Whats the matter with Chadbourne?"
Senator Reed demanded befor the witness
could proceed further.
Nothing; he's fine fellow" Colonel
Thompson. But lie and Belmont and
RYAN and Baruch and the others are all
rich men, and there is no monopoly on
either side Of rich men. We have no
Wall Street committee, but the Demo
Gratis have. Don't YOU forget that your
candidate has his millions and he got 1t In
Wal Street.
"since you have mentioned Governor
Cox IN this connection, what do you
know about this charge? Do you know
how Governor Cox made his money!"
Senator Reed demanded.
Il have understood that he made
much OF II out Of securities. / have
heard that he was interested In Ohio
Cities Gas, !" replied the witness.
How much stock did Governor Cox
have IN that company"
II don't know
do you know that he ever had dol
lar Of that stock?"
"Not Of my own knowledge" Colonel
Thompson replied.
mittee," continued Senator Reed, "and
rImors should have no place here under
such circumstances, especially from the
bps Of a man who is under oath. You
say that Governor Cox is no stranger In
Wall Street, thereby intimating that he
Is a speculator that he operates In Wall
Street Now / want TO know the details.
II said that ] had been informed that
be dealt in securities" Colonel Thomp-
son answered.
'Wel, then, do you mean to say that
Governor Cox specuiated?"
81 do not"
"Do YOU know If Governor Cox ever
made a crooked dollar in his life?" SEN
ator Reed again demanded.
- heard he was interested In various
companies IN Ohio?"
'Now, as a matter of fact" don't you
think you ought 10 withdraw that charger
81 understood that Governor Cox is
worth several millions and that his house
cost 100000"
"l didn't ask Won that T"