The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-20
SMITH PR0F|TED
BY SINCLAIR
DEALS
Accountant Lists Transac-
tons of Daugherty's Friend
in Oil Stocks.


in Oil Stocks.
Continued from First Page.)
the Fifteenth New York Congress
sional District was Bonds, Walsh
said.
Wahlberg Not Found.
When Ryan was excused, G. D..
Wahlberg's name was called. Wahl-
berg, however, failed to answer and
the sergeant-at-arms Of the Senate
announced that no return had been
received on the subpoena for VAIL.
brig issued yesterday.
Bond then appeared and immed-
lately was ordered to take the
stand.
'You told us that the name of
Thomas Jefferson Ryan, a former
member Of Congress, appeared on
the books of Hibbs and Company.
What did the records show?" asked
Walsh.
1.-THE name of T. J. Ryan appear
ed on the books. We asked the
clerk who he was and the clerk
said Thomas jefferson Ryan,
man of wealth.
"The day before testified, a man
in the Federal Trade Commission
mentioned Thomas jefferson Ryan.
We looked it up in the directory
and found Thomas Jefferson Ryan
was a former member of Congress. I"
Are you satisfied that you have
done an injustice to Congressman
Ryan," asked Spencer.
Eyes, I am. I am sure now 1t
wasn't Representative Ryan," Bond
replied.
Senator Dill Dem) of Washing.
ton then asked Bond about the oil
stock deals Of Attorney General
Harry M. Daugherty and Jesse w.
Smith.
Smith made a profit Of 1851
in deals in Sinclair Consolidated and
Mexican Petroleum stocks, Bond
said.
Daugherty's Deals.
did you find out where Daugh-
erty first got his Sinclair stocks?"
asked Dill.
mo. the first transaction was a
sale.'
''How many shares?"
Give hundred, and then later he
OOu6AG OVV S0t1 Go VA OA11N4cAAA 4OA
delivery
when was the account with
Hibbs and Company opened?"
ION January %, 1922"
For how mueh?"
1.-The first was a deposit as
security Liberty bond"
Dill then asked about Smiths
detailed deals.
Smiths account was carried on
Hibbs and Company as wv. w.
Spaid, No. g." Bond explained.
Smiths Deals Listed.
Bond gave Smiths deals as fol-
lows:
July "a, 1922 -Purchased 200
shares of Mexican Seaboard for
July 25-Purchased 100 shares of
Mexican Petroleum for $16,42O.
July 27-Purchased 900 shares of
Mexican Seaboard for $3.50.
August 4-Sold 100 shares Of
Mexican Petroleum for $4,000.
August 9-Purchased 200 shares
Of Sinclair Consolidated for $6,13O..
September Purchased 800
shares of Sinclair for $1O,282.
September Purchased 200
shares of Sinclair for $3.50.
October 4-Sold 700 shares of
Sinclair for $24,717.
October 20-Purchased 300 shares
of Sinclair for $1O,245.
October 27-Purchased 200 shares
Of Sinclair for $3.50.
December 7-Smith's account had
remaining 400 shares of Mexican
Seaboard and 500 shares of Sinclair
Consolidated.
Was Margin Account.
was this a margin account?"
Eyes, marginal buying and SELL
ing"
"What were the profits and
losses?'
ION 100 shares of Mexican Pc
troleum he made a profit of 1855
and on 700 shares Of Sinclair Con-
solidated profit Of 1915, or an ag.
gregate profit of 1851 on all deals
"This, however, does not include
the shares left in the account on
December T."
what explanation did Hibbs G.
Co. make for carrying the account
in the name of someone else rather
than the actual dealer?" asked
Walsh.
"None. but we found Smiths
name signed to receipts for ex-
changes for securities and credited
to the account of w. w. Spaid,
No. 81" Bond explained.
Bond then was excused and the
committee adjourned until tomor-
row. when Harry +. Sinclair was
ordered to appear.
Harry F. Sinclair, multi-millionaire
oil magnate, who leased Teapot
Dome from ex-Secretary Of Interior
Fall, probably will refuse to testify
before the committee before which
he has been subpoenaed for tomor.
row, 1t was learned today.
Following the example Of Fall,
who declined to be questioned by
the oil investigators, Sinclair is ex-
peoted to claim constitutional i'm
munity on grounds that his testi-
mony might incr1minate him in
court.
No definite decision, however, has
been reached as to whether Sinclair
will testify, and his attorneys, who
went into consultation when the
subpoena was issued by Senator
Walsh, refused to comment on what
course they have outlined for the
oil man.
Faces Court Action.
Senate oil investigators them
selves privately have expressed the
opinion that Sinclair would follow
Falls example. They pointed out
that inasmuch as Sinclair has been
hailed into court on civil action and
probably will be forced to answer
criminal charges before a grand
jury within few weeks, he has