The Washington times., 1932-05-19
RADIO GAMBLE
AND BIC PROFIT
SHOWN IN QUIZ

Continued From Page y
syndicate agreement on this
Radio stock.
Schwab Puts Up 100000
He read the agreement under
which the operators limited their
holdings to 100000 shares of
Radio long or short" 1t showed
that Bragg and Frank Ellsworth,
as its managers, would split 10
per cent of the profits. During
this operation, Bragg admitted,
he was in Florida.
Charles M. Schwab invested
100000 in the pool and received
a profit of $58,342.15, Gray re-
Vealed.
w. j. Higgins and Bradford
Ellsworth each made profit of
$145,839. Walter P. Chrysler in
vested $500,000 and got $145, 5,855.39
profit. Jessup & Lamont, a
brokerage firm, put up 100000
and got profit of $29,171.08.
SWOpe Given Stock
Herbert B. Swope put up 10
money, was given some of The
stock, and made a profit of $751;
242.15. George F. Breen, l.. P.
Fisher, and j. J. Riordan each
made a profit of $72,927.70.
Raskob was paid 1921, ,710.80 by
the pool but a notation on the
books of Meehan and Company
showed part of his share went
to other traders, Gray asserted.
RaskOb Nets S2O4,196
The books showed DR.. Raymond
Sullivan, John F. Gilchrist and
George I. Davis each received $29,-
I'll of Raskob's share. RaSkob
therefore netted $204, 1876. It
was reported the three men were
Raskob's partners III the venture.
w. C. Durant put up 100000
and received $145, $3.50 in
profits. Percy A. Rockefeller put
up $4,000 and got $29,171.O8
profits. In another account
Rockefeller, Bragg and Ben E.
Smith were given 5000 shares,
put up no money, and took a
profit of $46,673.73.
The four Fisher brothers all
netted profits from the pool. A.
j. Fisher and William A. Fisher
each put up $4,000 and scored a
profit of $29,171.08 each. L. P.
Fisher and Charles T. Fisher each
put up $150,000 and profited $58,-
S42.1S apiece.
j. A. Stillman. banker, took a
profit of $29,171.08 after putting
up 100000.
$4,000 to Tumulty
Gray produced an expense ac-
count of funds paid out by the
pool. It included $4,000 to j. P.
Tumulty, former secretary to the
late President Wilson, and $4,000
to Eddie Dowling, the actor. Bragg
couldn't tell why either payment
was made.
Senator Glass CD of Virginia
asked Gray:
"Was there not just as much
in these operations as when a
fellow sets at a card table with
an extra card up his sleeve?"
Gray replied:
"a little more so. The other
fellow at the card table might
see the card up his opponents
sleeve, but the public could not
see it here"
James F. MacConnochie, former
special agent in the Department
Of the Treasury and now mem.
ber of M. j. Meehan and Com
pany, testified he had been a
member of the firm for only two
years and did not participate in
the 1929 pool.
In Treasury % Years
He added that he had served
in the Treasury Department for
% years, the latter part of which
was spent as special agent of
the port of New York. Gray
asked how he happened to join
the Meehan firm. He replied he
was an old friend of Meehan and
the latter had been trying to get
him to join the firm for a num-
ber of years.
Gray developed that M. ].
Meehan, heat of the brokerage
firm, sailed for Europe last night.
The witness said Meehan had
been ordered to Europe by his
physicians.