Evening star., 1933-11-02
B. N. I. STOCK SALE
BY W|CC|N SHOWN
Denies He Knew Company
Would Pass Dividend
at That Time.
Continued From First Page.)

Continued From First Page)
not legally realized until 1881 and that
therefore he had fully compiled with
the law
Income Tax SI,365,234.
Wiggin testified yesterday his total
Federal income tax payments for those
years was 81 ,365 234.
Wiggin offered his income figures at
the beginning OF today's session Of the
Senate Banking Committee at the re-
quest OF Senator Couzens Republican,
Of Michigan)
In another statement, Wiggin showed
his family corporations had net earnings
for the five years, in addition to his per-
sonal income, Of $2,798,786.
The corporations paid Federal income
taxes amounting to S924,814.
wiggtn quietly handed the statement
to Pecora without comment as the
hearing started.
It showed his personal income was
S1.60S.43 in 1928, but dropped to
S459 ,228 in 1882.
He claimed no deductions for capita
losses until 1881. when s79.872 was sci
up against his taxable income.
His personal income by years was
given as follows Net income, excluding
capital gain or loss: 1923, 81, sos, ,433 Sc
1881, s94O,679.66; 1882. 459,22866
Total, S5,98l ,62021.
Capital gain or loss Qoss Ky: 1923,
s452.20; 1929, none; 1880. none; 1881,
S7s,872.34x; 1882, none. Total
$I9,42Gl4x.
Net income, including capital gain or
1928, s1,eos,ase; 1929, s1.563 ,6Ss 80;
1880, Sl,308, ,588ll; 1881, S86O, ,807.32;
1892 s459,22866. Total, s5,S02 200 OF.
Federal income taxes-1928. 1898 092--
II; 1929; 1925. .41580; 1880, 1888 495 81:
1881, sls7,45776; 1882. S220,733.25.
Total, sl,365, ,23474.
Corporation Income Given.
The statement OF earnings of Wiggin
family corporations showed they earned
s5.222,254 in 1928. but lost s4,11o.2o2
in 1882.
This statement follows with losses
marked by "x":
1s2s-shermar. 50 ,s2o.456.15; Murlyn.
1881 ,O44lO; Clingston, s2O,T54.28.
Total, s5,222 ,254 SO.
l929-Shermar, s76o,4l63O; Murlyn,
s17.85S-68; Clingston. s1,52e, sol Al
Total, 2.307. .776 SO.
l93O-Shermar, s3l7,O2494; Murlyn,
s256, 1926: Clingston, s2.2673l x. Total.
s57O, ,865.59.
l93l-Shermar, s602 ,9l85l x: Murlyn,
s3o2, ,747.88x; Chngston, S286,24l.33 x.
Total, Sl,l9l, ,90772X.
l932-Shermar, s3.313,854.O5x X; Muir
lyn. merged; Clingston, s7e6, ,347.s7 x
Total, s4l10,202.02x
Totals for the five years-Shermar,
C1ingston. s4e5, ,3ss .0s. Sum total, ST.
1913, 1861.
COMPANIES Income Tax.
The Federal income taxes paid by
the companies follow, with 1881 and
1882 omitted because none was paid
1s2s-shermar. 1895, ,e2e- "a; Murlyr.
s225. 5-2e; C1ingston. s2.15o-51- Total.
1928 ,8O2.O4
Sherman, s67,647.s7; Murlyn,
sl,293.l4; Clingston. sl67,236.S3. Total,
s236.l7794.
Isso-shermaf. ss7,ss2 2s;. MurNn.
$27, 7,502.27. Total. S64, ,834.53.
Totals for the three years:
Sherman, $780, ,906.47; Murlyn, s254,-
520.70; Clingstou, S16e, ,S87.34; sum.
totai, S9248l4.51.
Pecora then turned the inquiry II
operations of gigantic underwriting
account in Sinclair Consolidated Oi
stock in 1928.
The account managed by Arthu
Cutten, Chicago trader, was previouS1
shown to have made profits of NOR
than S12, 900 0O0
Pecora read a letter showing the OF
company sold 100000 shares of 1t
common to Cutten, account manage.
at $50 share.
Harry F. Sinclair, one of the mem
bers of the pool, purchased 10000
shares from the account at the sam
price, the evidence showed