Evening star., 1924-03-12
TEXT OF McLEAN'S STATEMENT
BEFORE SENATE COMMITTEE

| with any contracts OF any kind made
| by or with that department.
"The newspapers which / am con-
| nected with may have carried some
| government advertising. but of course
| 1t will be recognized that this is a
| matter not handled by me personally.
Because there have been published
indefinite and unfounded rumors from
which the inference might be drawn
| chase of oil stocks, although any
stock transactions l have ever had
are my own personal affairs and have
no relation to the subject which your
committee is authorized to investi-
gate and to the end that the utter
| lack of foundation for many Of the
reports which have been sent out Of
! this city may be shown, ! desire to
tell you just what stock transactions
| / have had.
| Bought stock Twice.
| Only twice in my life have
! bought New York Stock Exchange
| stocks and here are the facts about
those two transactions:
| In November. 1922. / thought 1000
shares, Of Pure Oil stock through
! this stock February. 1928, through Hut
| ton & Co, Palm Beach. Fla, at a profit
g. of about $500. This profit was entirely
mine. My understanding is that the
Pure Oil company il a company that
HeAs never udd any SouftctlOH Wllu any
government leases. and is in no wise
| concerned in this Investigation
i I'm March. 1923. 1 bought 1000
| shares of Bethlehem Steel through
Hutton & Co.: Palm Beach. Fla I
| sold it through Hibbs & Co., in De-
! cember. 1928, at loss Of approx
! mately $4,000. This loss was en-
! tirely mine.
| Never Traded in Curbs.
This is the entire story of any
New York Stock Exchange stocks
! ever purchased or sold by me. 1 have
curb stocks, nor have / bought or
sold any stocks except those above
mentioned, with the exception of such
local bank and trust company stocks
as l am Interested in.
! Il have never been interested in
| the purchase of any Sinclair or
! Doheny oil stocks, directly or indi-
/ rectly. by which 1 mean that l have
! never made any such purchase, nor
have l had any interest in any such
| time.
THE public press has repeatedly
carried reports that an important wit
! ness was negotiating for immunity
from prosecution in Consideration of
| the disclosure by him of sensational
| facts. The press reports have too
clearly indicated that l was that i'm
/ portant witness for me not to be
sensible " tIldl lulPutdlioh.
'1The facts are:
FIRST, | have no knowledge of any
such facts, and therefore could not
| disclose any to this committee or TO
any senator or any other commit
| tee or person whatever.
! Second. l have no need of any inn
munity of any kind and l nave
! neither asked for it nor authorized
/ any person to do so:
| THE only consideration have
f. sought was that which would excuse
me from appearing on the witness
stand.
Refers to TeleErAmS.
"You have examined with consid-
| erable fuilness telegraphic cerrespon-
dence between my employees, my
counsel, several of my friends and
| myself. l believe that you will agree
/ that those kilograms may be divided
T "Ffrst, those that brought me in
second, those that showed my
| desires to avoid appearing as a wit
| ness.
"Third, those that relate to my
personal and business affairs:
! Certainly none Of them indicate
! that I had any connection win oil
| leases which you are investigating,
and none of them could so indicate.
| Ready for QUESTION:
| 81 am ready, gentlemen, to answer
! any relevant questions relating to
the subject of this Investigation that
! you may have to ask upon the as
| surance and confidence, Of course,
that / will not be called upon to
answer any questions which the laws
| protect as privileged between my
I counsel and myself