Evening star., 1928-02-11
ROCKEFELLER FAILS
TO THROW LIGHT ON
CONTINENTAL DEAL
Continued from First PageD

Glad to Testify.
II thank you gentlemen for the op-
portunity to come here and aid you.
This situation Is far reaching. 1t
affects certain individuals. But beyond
that it affects the whole industry.
which is under suspicion.
only by bringing all the facts to
light can the cloud over the oil in
dustry be djspeled," he continued.
The salient facts seem to me to be
as follows:
Three of those related to this ma
tional scandal, 1t has been impossible
to get. Two more are before the COM
mittee. Then there is Col Stewart
have every confidence in Col. Stewart.
He said he was bitterly disappointed"
that Stewart did not answer all the
questions of the committee.
Il totally disagree with the position
he has taken"
He said that when Stewart first was
sought in the oil case, he was out Of
the country.
Sent Wire TO Stewart.
when l learned he was out Of the
country. l had telegram sent to him."
the tinanCicr continued
This was IN March, 1925, and the
telegram urged Stewart to return, cx-
planning that his absence and that OF
II M. Blackmer a missing witness, was
being 'misconstrued.
Rockefeller then read the statement
he issued at the time, stating his desire
that all the facts in the oil scandal
should be given.
Continuing. he said he first discussed
the situation with Stewart in 1925
He showed considerable resentment" :"
Rockefeller said. adding that this was
relative to the implication that ne was
. out Of the country by design.
Rockefeller talked with Stewart again
last Monday, hc said
Told the Truth.
II believe then. and ! believe now,
that Col. Stewart has told the truth" +"
he added Il disagree with the position
| he took here but it was impossible to
discuss the subject with Col Stewart.
as you gentlemen perhaps can under
| stand"
II want to be fair TO Stewart and
every one concerned, but am prepared
TO act as my best judgment directs"
The witness said that SO long as ne
had confidence in the integrity of the
management Of company in which he
had stock. he should support the man.
| agcmcnt.
|
| such that canrot believe In their in
tcprlty / am prepared to withdraw my
support" he added
"As 81 Stockhnlder l want no projects
that are derived by a compromise with
right"
He said he was not an active biIsi-
ness man. but was engaged in philan-
thropic work.
Il have never been actively engaged
In the management Of any business cor
porat!nn. but l do hold stock in many"
he added.
Ignorant Of Company.
Replying to questions by Senator
Walsh. Rockefeller said he never knew
| or heard anything about the Continental
/ Trading Co until he read about II in
the newspapers.
| How we'll arc you acquainted with
the facts as they developed here as TO
Col. Stewart" Walsh asked.
only to such extent as / followed
! them in the newspapers" was the re-
| sponSe.
Walsh then reci,ed the details. tell
| ing of the efforts Stewart made 70 get
| The oil which the Continental after
! ward obtained at $3.50 barred and
resold at $iT5 Il barrel 10 the Sinclair
! Crude OH Purchasing Co. and the
! Prairie Oil and Gas. The Crude COM
/ pany Is partly owned by the Standard
| OF Indiana
! Rockefeller. who wore gray cutaWay
! coat. sat well forward In the witness
| chair most Of the time with his hands
! folded on the small table in front OF
! him. He wore glasses attached TO
black silk cord The financier looked
! intcntly at Walsh as the Senator re-
| viewed the testimony.
Quericd on Conference.
Three witnesses who were at the
| conference said the price Of SITS was
never mentioned" Walsh said with en-
phasis.
| This Was n conference OF oil men in
New York. where the Continental deal
was Put through and where Stewart
| testified resale price Of $l.T5 "A barrel
was asked for the oil.
| Were you aware q! the substance OF
these facts when yau talked 70 Col
Stewart last Monday" the Senator con-
| tinued
Not IN detail" was the reply.
! You didn't question Col. Stewart
| about them"
In neither interview was Col Stew
art willing 10 discuss the matter. other
/
pany had done anything improper
Even II ! had the facts. think 1t would
nave been quite Impossible TO have
! gotten Col Stewart 10 discuss the de-
| tails In either interview"
| Might not a stakeholder OF a COM
pany question an officer of that COM
pany under such circumstances and ex-
pcct him to talk freely?"
| Very rightly
DO YOU feel you have exhausted every
means Of securing the information"
a be very grateful to you, Senator
II you could ouggcst some way"
Confidence In Stewart.
Rockefeller then repeated that he had
great confidence In Stewart and re-
ghrded him AZ Il very competent, ca
| paEle business man
/ Can YOU then make any surIniAe as
| to how Col. Stewart could have been
81 tar outraded Tor the Humphreys
ui!p"
II haven't undertaken TO-" Rockefeller
replied,
Can you do 30 noW9"
1t certainly isn't characteristic uf
the colonel to pay more than he has
To In any deal"
"Mr Rockefeller. do you know any
thing about the disposition Of these
| hundar"
Nothing whatever"
! The atlehlion and answer referred to
the Liberty bonds held by the Coniinen~
tai nv result Of the deal, and S:33 900
of which The Government contends went
To Fall.
| Inquiry Asked.
Have YOU made any effort to md
nut whether BY chance some Of these
bonds got into the pohaehainn ot any
OF the companies yun are Interested
inp" Rockefelcr was asked
THAT had not occurred 10 me"
Gould yoi, have The management of
| tir companies make MI inquiry"