The Washington times., 1928-03-17
TARTL|NGCLUE
To OIL BONDS
CONTINUED from First Page.)

asked newspaper men not to spec
ulate upon them.
The modern method of raising
Republican campaign funds, as
practiced in Chicago, was revealed
at the inquiry today.
Multi-milIionaires were solicited
on railroad trains, as they rode to
their offices from their palatial
county homes, according to T..
Edison 4Nhite, wealthy Armour and
Company executive. White said he
was solicited on a train by B. A.
Eckhart, wealthy miller, who raised
funds in 1924 for the late Fred w.
Upham, Republican national treas
urer.
Philip d. Armour, packing com
pany magnate, was solicited in the
same way. White and Armour
each gave 81, 900 to the Republicans.
Neither knew anything Of Harry F.
Sinclair's Liberty bonds.
Angels" Testify
Al wide array of witnesses, most
of them 'tmillionaire angels" OF the
Republican party, have given the
committee some sensational reVela-
lions. These developments included
evidence that:
/. Will III. Hays, former Repub.
lican national chairman, received
only a small part OF the $4,000 re-
funded him by Harry F. Sinclair,
the greater portion being used to
pay off his losses In stock specuia-
tons to James p. Connery, wealthy
Chicago coal magnate. Hays testl-
fled in Washington that Connsry,
his friend. had. delivered the whole
$85 900 to him. Connery said Hays
stock losses due to tips" from
Sinclair had plunged the movie
car 500, 900 Unto the hole"
2. Robert w. Stewart, chairman
of the Standard Oil of Indiana, de-
posted $318, 400 in the Continental
and Commercial Trust Co., in the
five weeks between November "a
and December 81. 1924, just about
the time Sinclair began operating
his Teapot Dome lease.
This was the only information
gained in a "hot tip that Stewart
had 100000 deposit in the bank
Boosted of Cleanup
3. Harry +. Sinclair and James u.
O'NeiI boosted they would make
hundred million dollars a year" out
of the Teapot Dome lease, in a con
versation with friends at the
to Edward Buckley. waiter who
served them. Buckley said OMEN
declared the Standard Oil Company
OF Indiana (headed by Stewart
would take care of any trouble"
tCyka
Sinclair reported" that Secretary
of the Navy DENLY was opposing
the lease and his opposition would
have to be overcome, whereupon
one of the diners observed he would
clean up millions" il he were Score
tary of the Navy.
a. The $4,000 Of Sinclair bonds
sent to the late Fred w. Upham by
Hays may have been only a drop
In the bucket" as compared to the
total amount actually used here.
The testimony of witnesses revealed
$4,000 in dummy contributions
on Upham's records, which added to
the $4,000 in bonds accounted for
by James A. Patten and $4,000 ac-
counted for by B. A. Eckhart, in
dicated that $63,80O in bonds could
nave been used here, according to
Government agents.
Fact With Democrats
5. An agreement existed between
the republican and Democratic ma
tlonal treasurers to refrain from
making any report on the 1928
campaign contributions. Two secre-
taries to Upham declared he told
them that Wilbur w. Marsh, Demo
cratic treasurer, proposed this
agreement because the Democrats
planned to collect a few large
contributions to pay off their def
cit.
9. The Republican national com.
mittee rolled up a 81, 900 900 deficit
at least, on the 1920 campaign,
according to Fred III. Pearson. comp
troller OF the committee at the
time.