The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-12

never been interested in or con.
nected with any contracts of any
kind made by or with that depart.
ment. The newspapers which
am connected with may have car.
ried some Government advertising,
but, Of course, it will be recog.
nized that this is a matter not
handled by me personally.
Because there have been pub
lished indefinite and unfounded ru.
mOrs from which the inference
might be drawn that ! had par
ticipated in the purchase OF oil
stocks although stock transac
lions ! have ever had are my own
personal affairs and have no rela.
ton to the subject which your
committee is authorized to investi'
gate, to the end that the utter
lack of foundation for many OF tic
reports which have been sent out
of this city may be shown, de-
sire to tell you just what stock
transactions ] have had.
His Stock TranactiOns.
only twice in my life have I
bought New York Stock Exchange
stocks, and here are the facts
about these two transactions:
In November, 1922. l bought
2,000 shares OF Pure Oil stock
through Hibbs 4 Co., Washington,
ID. c. ! sold this stock FEBRUARY,
1928, through Hutton & CO., Palm
Beach, Fla, at q profit of about
$500. This profit was entirely
mine. My understanding is that
the Pure Oil Company Is q COM
pany that has never had any con-
nection with any Government
leases and Is in no wise concerned
in this investigation.
'In March. 1923, bought 1000
shares Of Bethlehem Steel through
Hutton & Co., Palm Beach, Fla.
sold it through Hibbs & Co.. in De.
eember. 1928, at a loss of approx
mately $4,000. This loss was en-
tirely mine.
"This is the entire story OIL
any New York stock exchange
stocks ever purchased or sold by
me. I have naVeg 0Aded in any
of the so.caOed ourD socks mol
have I bought or sold any stocks
except those above mentioned with
the exception Of such local bank
and trust company stocks as
am interested in.
Never Sought Immunity.
II have never been interested
In the purchase of any Sinclair
or Doheny oil stocks, directly al
indirectly, by which I mean thai
have never made any such
purchase nor have had any
interest in any such purchases
made by any one at any time
The public press has repeat
edly carried reports that an i'm
portant witness was negotiating fol
immunity from prosecution ir
consideration OF the disclosure BY
him of sensational facts. The
press reports have too clearly
indicated that was that impOr
tant witness for me not to BIZ
sensible to that imputation.
1.-THE facts are:
First, I have no knowledge
OF any such facts and Therefore
could not disclose any to thi,
committee or to any Senator OF
any other committee or persoT
whatever.
Second. have no need TO,
any immunity Of any kind ant
I have neither asked for it mol
authorized any person to do.
The only consideration I have
sought was that which would ex
cuse me from appearing on the wit
ness stand.
Glasses OF kilograms.
You have examined with con
siderable fullness Geographic cor
respondence between my EN-
ployes, my counsel, several of my
friends, and myself. believe
that you will agree that those
kilograms may be divided into
three classes:
"First-Those that brought me
information.
"Second-Those that show nv
desire to avoid appearing as q
witness.
Third-Those that relate to
my personal and business affairs
Certainly none Of them indi
cate that I had any connection
with the oil leases which you are
investigating and none Of them
could SO Indicate.
/ am now ready, gentlemen
to answer any relevant questions
relating to the subject of this in.
vestigation that you may have ia
ask upon the assurance and con.
Yidence, OF course, that l will not
be called upon to answer any
questions which the law protects
az privileged my counsel and my.