Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1924-02-20
Says He Purchased Sinclair
Stock Without Knowing
of Oil Leases

WASHINGTON, Feb. 20:-Senator
Elkins, Republican. West Virginia,
said today that he had purchased
stock of the Sinclair Consolidated Oil
Company.
The West Virginia senator visited
the committee room today during
the examination of Harry Payne
Whitney but was not heard. Mem
bers said If he were called it would
be in an open session.
'I am perfectly willing TO go be-
fore the committee If they desire,
and tell all about these transactions.
There Is no law against buying and
selling stock. Many of my pur-
chases were made solel yon my own
initiative or on advice of my brok-
ers.
If you stop buying and selling
this country will have to stop. This
whole thing Is political drive by
the Democrats, but they will get
the worst of it before 1t ends. Al
iready William G. McAdoo has been
mentioned prominently as has the
late Franklin K. Lane and others
], Il purchased the Sinclair stock
without any knowledge with respect
to the oil leases" Senator Elkins
said in a statement. It bought
much more of Bethlehem steel and
other stock than I did of oil stocks
! He added he was perfectly will
ing to go before the senate oil
committee and tell all about it.
His statement revealed that he is
| the senator whose name appears on
the records of the Bernhard brok-
erage firm, presented to the COM
mittee yesterday.
Senator Wheeler. Democrat. Mon
| tana, colleague of Senator Walsh,
| the dominant figure in the oil in
quiry, had a hand in both develop
ments, being the author of the reso-
luton for an investigation of Mr.
Daugherty's record and having par
! ticipated in the conferences which
| led to yesterdays executive session
of the committee, and by invitation
| In the meeting itself.
Immediate action on the Wheeler
resolution was blocked yesterday bs
! Senator Lodge of Massachusetts, the
Republican leader, who objected tc
the Montana senator's effort to name
the members of the investigating
committee himself rather than leave
their selection to the chair.
The committees session today was
called by Chairman Lenroot after hi
had learned that Mr.. Whitney, whc
was subpoenaed several days ago
| was hurrying to Washington. Mr.
Whitney was summoned along witt
! officials of J. p. Bernhard and Co.
New York brokers, who presented
certain records of that firm yester.
day. but he failed to appear at thai
time
The name of a senator was found
in the Bernhard records. and tbs
| company officials consented to oper
all of their books and files within
the period under investigation Il
auditors acting for the committee
Lewis ]. Bond, of the Federal Trad.
Commission, who is in charge of the
study being made for the committed
OF the books of a number OF Other
| stock brokerage firms, was instruct
ed to begin examination of the Ben,
| kard records at once. The question
of immunity for witnesses appearing
before the committee is being con,
| sidered by Owen J. Roberts and At
lee Pomerene, the government
special oil counsel, who received
their commissions from Presiden
Coolidge yesterday and established
headquarters with their staff of as
sistants. The matter was placed il
their hands by the committee as tn,
result of an inquiry addressed to i
by an important witness now under
subpoena.