Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-02-21
EXPLOITING LEASE
COSTS S100,000,0O0
DOHENY DECLARES

WASHINGTON, Feb 20.-Senator
Elkins, Republican, West Virginia,
said today that he had purchased
stock of the Sinclair Consolidated Oil
company.
He added he was perfectly willing
to go before the senate oil committee
and tell all about it.
His statement revealed he was the
senator whose name appeared on
the records of the Bernhard broker
age firm, presented to the committee
yesterday.
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.
II purchased the Sinclair stock
without any knowledge with respect
to the oil leases" Senator Elkins
said in a statement. Il bought much
more of Bethlehem Steel and other
stock than 1 did of oil stock.
Il am perfectly willing to go be-
fore the committee if they desire
and tell them all about these trans
actions. There is no law against buy
ing and selling stock.
MANY of my purchases were made
solely on my own initiative or on
advice of my brokers.
IF you stop buying and selling
this country will have to stop. This
whole thing is a political drive by
the Democrats, but they will get the
worst of it before it ends. Already
William G. McAdoo has been men
toned prominently, as has the late
Franklin *. Lane and others"
Follows Whitney Visit
The statement was issued after
Mr.. Whitney and his counsel, Frank
l.. Croker, had visited Senator
Elkins' office. Mr.. Whitneys eX-
animation by the committee was
brief, and Chairman Lenroot said
afterward that arrangements had
been made to have committee ac-
countants examine his books in New
York.
Senator Lenroot added that there
was no other immediate develop
ment in the oil scandal in prospect
which would require an early meet
ing of the committee. Members
would not say, however, whether 1t
might be necessary to hold other
Sessions DCIOIt uSAL 4bOlld"1J' ti4S
time set for resumption of the public
hearings.
More than two hours after the
committee adjourned Chairman Len
root issued this statement:
The committee yesterday and to-
day held an executive session at
which certain witnesses testified.
The only testimony so given was
relative to what books were kept
and the manner Of keeping them
and this was for the purpose only
of aiding the expert accountants or
the committee in the examination OF
such books. No other testimony has
been given in. secret session, and L
am sure that the committee has no
intention that testimony of any
other character shall be taken in Sc
cret session"
While an official record Of the
executive proceedings is kept, it has
been decided not to swear any Wit
ness who appears in secret session,
so that no question Of immunity can
be raised subsequently,
The session today, committee mem
bers said, was merely to determine
the quickest procedure in handling
the brokers' books, and determine
what records should be searched. 1t
was indicated. that Senator Elkins
would not be invited before the com
mittee until reports Of the auditors
disclose the full extent Of his stock
transactions.
The question Of immunity for Wit.