Evening star., 1928-05-01
Oil Man Received S757, 900
in Continental Deal, Sen
ate ProberS Told.
PORTION OF HIS ADVANCE
TO PARTY WAS RETURNED
Magnate Ayers He Does Not Know
What His Politics Are Now.
Bares Personal Transactions.
Br the Assoctated -

testified today that he received $751;, 600
as result Of the Continental Trading
Co. deal. the equivalent Of which he
had Just recently turned over to the
Sinclair Crude Oh Co.. with sI42, 900 II
interest.
Likewise. he told the committee,
under battering examination BY Sen
ator Walsh. that he had transferred
Liberty bonds TO Albert g. FAN, insist
ing that they were for a share In Falls
ranch. Confronted with previous testi-
mony that he had bought no land in
New Mexico. Sinclair said he had merely
bought stock in land and cattle COM
pany.
As to the 100000 net payment to
VIII H Hays, to be used in wiping out
the Republican deficit after the 1890
election, Sinclair insisted no induce
ments were offered him. He had also
loaned Hays $780, 900, he said, which
he believed Hays had used "A stock
deal.
Given By BIackmer.
The s757.OO0 vas given him, Sinclair
said, by H NJ. Blackmer. one of those
who engineered the deal whereby
American oil was bought for $50 4
barrel and sold back to Standard and
Sinclair companies for SITS.
Sinclair insisted he knew nothing OF
the actual organization Of the Conti-
mental Trading Co
Sinclair said he had been a Repub-
| hcan In politics, but did not know now
what he was, IN explaining his dealings
with the former @. Q. P. chairman
Sinclair said he personally delivered
| s26O,O00 IN bonds to Hays for use IN
extinguishing the Republican party debt
/ IN 1928. He added that he got them
from vault IN his house II developed
/ that Sinclair put al OF the Biackner
/ bonds in this vault
Il wish you would tell US about the
! transaction with Mr.. Hays Senator
/ Walsh said.
Asked for s1se. zoe.
ITO the best Of my recollection. ca.
l Hays came TO me and asked for $3.50
/ 900, don't recall whether he said the
national committee. but anyhow for the
/ purpose OF wiping out the Republican
/ debt. He said he would like IT as . loan
and would collect the money and return
I it to me"
was there any more to the transac-
tion?"
yes. Some time afterwards Mr.
Hays returned securities 20 me. can't
/ e1nemher Just the amount, but I think
! it was al except sT5.000 / think he
told me that SS5.0O0 Of the securities
we're his own. Later remember I gave
back TO Mr.. Hays. or somebody for Mr..
Hays the $4,000. 50 that my total con-
| trihution was $4,000, II my figures are
1 correct"
"You are Republican In pcsitics2"
just q moment. Senator, I have
been Republican. but I don't know
now what politics I have
No Indneement
What was the indueement to give
that amount?"
There was no inducement.@
But Mr.. Hays told Us that no one
else gave anything approximasing wl1at
you did. Mr.. Andrew W. Mellon. re-
puted TO be the third richest man IN the
world, save only one-third OF the
amount you did
7 can only say that ar. Mellon
was more sensible than I was.
Still We don't get at the reason fog
you being 50 liberal" Senator Wash
observed.
There was no reason. / NAV have
/ been very foolish, ! think VAS
did you have any securities OF Mr.
Hays prior 70 the time he gave you
the $S5,O00g'
Bares Prosecutions.
II don't think 50. I think he haS
some securities Of mine We had been
friends long time"
Tell us about taoSs3s
You want me % tell y0u about Mr.
HAYS personal tTanSAetfonSs"
Il want you 70 tell about any trans.
actions you had With AIR. Hays
II think Mr., Hays had lost some
money In the stock market I think
! Il was 100000 ard loaned him the
amount ! think he sent them %
MS broker 20 be used rs nasySka~
sinclair. detailing MS conception Of the
Continental deal whereby Standard and
sinclair companies paid q prctss Of s.
cents q barrel 10 the Continental Trad
ing Co, started by explaining that
Slaekmer, one of the organizers Of the
transaction, gave him the eSnelS Ne
had stipulated thar his company should
share tn the eonmiSSson Ne said.
Sent Liberty RondS
Il got IL IN the form ef tiAeTS
eoAuS' ne said. They were sent g
me over . period OF two Years
~Regtnning IN 1922 and extending -
when9"
II think it was IN the Fan Of 1884,
sfFeEn wh0ga did yeu ges the eonStSeS
FTom Mr., RlaeNnRey, Sc3aS were
sent by nleSSengeg whose tGeNgtfy ~
not knew, Whether any were given GO
ME nv Mr. OSler I 90 not knew
fhAS reference WAS to I'll S, CSAeE
president ef the Continental o. SIN
elair said he Kept a record az The leliv~
cries, out did not have that recOga rev.
Sinclair could not SAY whethef the
eeaAstS ne turned over CO bis Company
were The Sanse as those ne received
What cid YOU dc with them a. veN
received thenss he was aSSsG,
u may have put theM IN my yanh q
IA the Empire Trust CO.
The witness SAID he did aes per~
sonalN turn the bonds over 70 hlS com.
pAily that he lefR that ta his attorney.
n, T stamford general counsel for the
Sinclair Consolidated on CO.
nld Nat InFarm neardA
tDid yoa inform the board of di-
reetots previously About taatf~ aSke&
Walsh
No sir"
what instrument did yel execute d
the COMPANY g show rs Interest 10 TIE
matteTaN
None
Senator walsh asked about Ahss /