Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-03-20
SLEMP LISTED AS
OIL STOCK BUYER.
COMMITTEE HEARS
Probers Learn From New
Source That Fall Tried to
"Cover Up" 100000 as
a Friendly Loan

WASHINGTON'' March 1S.-The
oil committee resumed it's hearings
with double barrelled surprise to-
day in the form of fresh evidence
of oil stock speculation by govern
ment officials and further testimony
about the 100000 loan to Albert B.
Fall
Brokers' records submitted by an
expert accountant showed that At
torney General Daugherty had dealt
in both Sinclair and Doheny stocks
since he entered the cabinet; that
c.. Bascom Slemp, now secretary to
President Coolidge, also bought some
Doheny stock before he retired
from congress in 1928; and that
there were records of dealings also
by Senators Curtis, of Kansas; Ell
kins, of West Virginia, end a num-
| Der of representatives
Price Mckinney, of Cleveland,
then testified that former Secretary
| Fail had sought late last year,
| into Falls finances, to have Nc
| Kinney say that he had loaned
| 100000 to the former secretary.
That was before Fall made the same
! proposal to E. B. Mclean.
Before Bonds examination began
the committee reverted for mo-
ment to the marine expedition into
! the Teapot Dome reserve to clear
off trespassers, after the dome had
been leased to Harry F. Sinclair,
Chairman Laid read a letter from
Major General Lejeune, commandant
of the marine corps. saying the ex-
petition cost 81 ,065.
Slemp Then in House
Slemp at the time of the stock
transactions was a member of the
house. Other representative deal.
ing in the stocks included A. B.
Rouse, Kentucky; Wells Goody-
koontz, of West Virginia; Thomas j.
Ryan, of New York and J. H. Hines,
of Ohio
Attorney General Daugherty
bought 100 shares of Pan-America n,
the Doheny company that leased the
California reserve, and sold at a
profit of S543.5O. the accountant said
Mr.. Daugherty himself has disclosed
previously that he had some deal
ings in Sinclair stock both before
and after he entered the cabinet.
The attorney generals account
with w. B. Hibbs and company, of
Washington, was opened in Novem.
Der, 1921, Bond said, in his own
name and mas been changed to the
! name of w. w. Spaid a member of
Hibbs and company.
| On October 10, 1922, the attorney
general sold 500 shares of Sinclair
Consolidated and on October q he
purchased an equal amount of the
same stock, Bond said.
Bond testified that Senator Curtis,
who is assistant Republican leader
of the senate, bought 100 shares of
1 Sinclair Consolidated on February
%, 1922, and that the records indi,
Gated it was a straight purchase"
Elkins Bought Heavily
Senator Elkins bought $500 shares
of Sinclair consolidated on November
16, 1922. at cost of $500 ,355. He
sold 100 shares on May "a, 1923, at
! $272 ,924 and took straight delivery"
on the remaining 1000 shares.
Representative Ryan, the witness
said, dealt in $500 shares of Sinclair
! stock and 700 shares of Doheny stock
in 1922 and 1928, and realized net
| profit of $3.50
Representative Rouse, according to
Bonds reports, bought 100 shares of
! Pan-American Petroleum at $8,715,
and there was no record of any sales.
Bond told the committee Slemp
| bought 100 shares of Mexican Pc
troleum for "P. w. Slemp'' and sold
| them at a net profit of $751;. He
, then bought on June %, 1922. 1000
shares of Mexican Seaboard, anotn-
er Sinclair company, and sold at a
profit of 81 4S4.3S.
Representative GoOdykoontz wa
shown to have made a net profit of
/ $3.50 in Sinclair Consolidated and
| Mexican Petroleum.
Representatives Hines bought and
sold to the extent of $500 shares of
oil stock. but Bonds report did not
show whether there was a loss or
gain.
Dates of Leases
The Sinclair Teapot Dome lease
was signed April :, 1922, and the
Doheny California lease December
H. 1922.