Evening star., 1928-04-24
slip was for $13903.75, which was the
interest on $794, 900 Of bonds.
Had Other Bonds

made up the difference?" asked Chair
man Nye.
Il had many Liberty bonds" Stewart
replied. Il bought some OF every issue.
beginning in 1917"
Did you have any 3I2 per cent Lib
erty bonds when you made the deposit
In December, 1922"
said the $l3,903.75 might not have been
Continental bond coupons.
Nye then called attention that there
was like deposit in December. 1928,
and asked an explanation.
THAT may have been just an instance
that might occur TO any one" the
Standard Oil official replied.
II want to advise you that we have
the coupons deposited in the CONT
mental and Commercial National Bank
by you in 1923 and that some OF them
are from Continental bonds" Senator
Walsh said.
That may we'll be-" Stewart replied.
II have nothing with which to refresh
my recollection on these matters. Now
l want TO help the committee all l can
In this matter and l have here a list
of the numbers Of the bonds that were
turned over TO the Crude Oil Purchas-
ing Co"
Stewart was excused temporarily while
w. o. Woods, register OF the Treasury,
was called.
Explains Handling Of Coupons.
Woods explained how the coupons
passed from the banks to the Federal
Reserve banks and then to the Treasur-
er and finally TO his ONCE where they
were kept.
Mrs. Myrtle Norton of the Treasury
registers Office then testified that q
search of the coupons from the Chicago
Reserve Bank in June and December,
1922, showed that there were coupons
from three hundred and seventy-one
81, 900 bonds and three $500 bonds.
She said the search for the 1928 Con-
tinental bonds had not been completed.
Miss Imogen Howell secretary TO
Senator Walsh, then identified the num-
bers of the coupons from the Chicago
Federal Reserve Bank, as clipped from
Continental bonds.
Then Stewart was recalled and Sena-
tor Walsh asked II he had heard the
evidence showing that bonds OF the Con-
tinentai Co had been turned In by the
Continental and Commercial National
Banks.
i've heard no such testimony"
Stewart said II think you are 20 rows
"
only evidence you have about coupons
In the Continental Bank Is what I've
given YOU"
Stewart said he took no receipts from
Barnett for the bonds.
Understand. Senator, did not have
possession of the bonds. ] was simply
q conduit through which these bonds
passed to the trustee"
Stopped Clipping In 1919.
Senator Bratton, Democrat, New Mex
leo. took over the questioning.
why we're no coupons clipped after
December. 1922" he asked.
ITO avoid publicity. The newspapers
were carrying q lot about this matter"
Stewart said he requested Barnett not
to clip the coupons after 1923. That
was about the time the Teapot Dome
scandal was beginning 10 be developed
by the committee.
'If this was a regular business trans
action. why did you want TO avoid pub
licity?" he was asked.
II don't know, Senator. may have
made a mistake. don't know"
II notice this trust agreement was
written by pencil. Why didn't you die
tate 1t TO stenographer and have II
written on a typewriter"
\ y
to know anything about H."
Chairman Nye switched the inquiry
TO the Salt Greek field. investigation OF
which recently was proposed In the
Senate. Stewart refused TO concede
that the Midwest Refining Co, held
control OF the Salt Greek tleld in 1921,
as the Federal Trade Commission re-
ported.
Taking the Trade Commission re-
port and the testimony OF II. Foster
Balm, former head Of the Bureau OF
Mines. Nye suggested that the Stand
ard OIL Of Indiana had the best claim
to Teapot Dome.
That aroused Stewart.
Denies Right 20 Dome.
Senator. II YOU say the Standard OH
OF Indiana had right to Teapot Dome
you are crazy" he said.
Perhaps am: I've been accused OF
that before" kpe said.
He added that the report showed that
In 1920 the Standard OIL OF Indiana
controlled the Midwest. which controil-
cd the Salt Creek field.
The Standard oil otilclal said he did
not know when IL was announced that
Albert H. Fall would become Secretary
Of the Interior. Nye said II was on
~
the Standard oil OF Indiana bought a
half interest In the Sinclair Pipe Line
Co.
II don't know" Stewart replied.
Wasn't II In lo2i2"
II don't know"
was II early In io2is"
"I don't know But / have that In
formation somewhere and can fur
nish H."
Stewart was emphatic In his deciara-
ton that the Standard OH OF Indiana
had not profited from the Teapot Dome
lease. and he was equally as emphatic
that the Standard OH OF Indiana got
Its interest In the Sinclair Pipe Line
Co before the Teapot Dome lease,
"Our nominees on the board Of d.
rectora OF the pipe line company
agreed after the Teapot lease that the
pipe line company could extend Its
line 10 the Salt Greek and Teapot Dome
fields" Stewart said
Says Chase Lied.
Advertlng % the trustee contract
Senator Cutting, Republican. New
Mexico, asked why II was Osler told
him that he was 10 get part OF the
profitA.
Il do not know" Stewart replied.
was this a usual transactton?"
Senator. you ara trying to argue
this with me and II You want Ia argue !
you will have 10 do II elsewhere"
Finally, however, he said II was not
usual transaction"
why should there have heen any
profits out Of this transaetinnP"
II don't know think II would
have been better II there had heen no
proillA. That's my hind siaht,
Were you at Secretary Falls New