The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-02-21
HELD
5000 SHARES
SINCLAIR OIL
Uncover Name on Books Of
Brokers

Sinclair oil stocks thru Bernhard
and Company, the New York
brokers, whose books were ex-
hmined yesterday by the Senate
Teapot Dome committee.
Elkins' name was found on
the books, it has been stated.
Elkins said he bought and
sold several hundred shares Of
Sinclair oil stock.
Certainly / bought and sold Sin
clair oil stocks" said Elkins. 81
dealt in several hundred shares thru
Bernhard and company and don't
care who knows it. / buy and sell
in any kind of stock l want. There
is no law against it and my Office
does not prevent my dealing in
stocks.
81 did not have any tip from any
one on Sinclair oil and l did not go
into any pool. If I had gone into
pool, l would probably have lost
more money than l did.
81 have not the time nor the money
to deal extensively in stocks, but /
dealt far more extensively in Bethle-
hem Steel and Reading railroad
stock than l did in Sinclair oil.
"If that is a crime, let them go
boiler their heads off. The public
seems to have gone crazy and there
is lot Of hot air in the senate about
this oil thing, but it will not disturb
me because my transactions were
absolutely legitimate.
Elkins Is Hardboiled.
eff this hysteria continues the only
thing to do is to close the stock ex-
change and halt all business. The
whole thing is silly to me. How are
we to have liquid business unless
we buy and sell things?"
Asked if he had dealt thru any
other firm but Bernhard and Com
pany on Sinclair stock, Elkins said
he had, but declined to name the
firm or firms.
''That's for the committee to find
out" he said, referring to the SEN
ate Teapot Dome committee.
Following Elkins' personal state
ment, the following was issued from
his Office here by his secretary, VIC.
Fenton:
Senator Elkins has, for the past
Is or 20 years been buying and sell
ing stock thru various brokers in
Washington. Philadelphia and New
York. In many cases. he purchased
on margin and in others bought stock
outright, feeling he had perfect
right to do so, the same as if he
bought an automobile or real estate
and sold it.
at is true that he purchased from
time to time various shares of Sin
clair oil stock, just as he did va
rious other listed securities. particu-
larly cotton. :.
GAS soon as the price of oil
dropped, like in other stocks, he sold
out, but so far as Sinclair oil IS
concerned he did not make one penny
profit.
Senator Elkins has been confined
to his bed for two weeks with grip.
He has evaded no one. He is willing
to have his stock transactions
opened to everyone and he is willing
to help prosecute anyone who con-
spired against the government.
Says It's Joke.
"Senator Elkins feels that 1t is
a big joke as far as his name is
concerned"
II was said Elkins purchased prob
! ABLY between 900 and 10000 shares
of the Sinclair stock. His specula-
ton during the year 1922 when the
leases were granted, showed a profit.
It is the understanding among
Elkins' friends here that he will not
seek reelection to the senate next
year. Guy d. Golf, now assistant
attorney general, will make the race
for the Republican senatorial NOM
nation, and this, it is stated by
Elkins' friends, is approved by Ell
kins.
Elkins is the son Of former Sem
ator Stephen B. Elkins Of West Vir-
GINA, whom he succeeded in the SEN
ate in 1911 for the unexpired por-
ton Of q term. He was elected for
full term in 1918 while he was in
| FThncc STRIVING WIN Jnc DcNcuOi
division.
His home is in Morgantown, w
Va, where on the death Of his father
he assumed charge of the Elkins
coal and other interests, which are
extensive. He is 4s years Of age.
Chummy With Whitney.
Ellsins appeared outside the senate
Teapot Dome committee room during
the executive session this morning
He sent word in that he would like
to appear and the committee mem.
bers notified him they would hear
him later.
While he was waiting, Elkins wen'
to his Office for a conference with
Harry Payne Whitney, New Yorl
sportsman, and Whitney's lawyer
Frank L. Croker, who had just ap
peared before the committee.
Our Advertisers help make
this Paper possible. Patron
ize our Advertisers and tell