Imperial Valley press., 1934-02-19
PUBLIC GIVEN
FULL REPORT
BY L|NDbERCH
Colonel Makes Frank Statement
Of His Transactions With Air
Company Stocks.

NEW YORK, Feb. 10. U.P)-Col-
onel Charles A. Lindbergh IS fin
ancial transactions in aviation were
open to the public scrutiny today.
They were made available by the
flyer himself, apparently in reply
TO inferenceS that he profited un-
duly from his connection with two
major air transport companies,
Transcontinental and Western Air
and Pan-American Airways.
The summary of his financial
dealings followed by a week his
telegram to President Roosevelt.
protesting against what he termed
the unfairness of the air-mail con-
tract cancellation order, which
affected, among others, the TWA.
Essentially the same as the one
he forwarded to the Black airmail
investigating committee in Wash
lngton month ago, the statement
detailed that the flyer made a to-
tai profit of S137,838 over a period
of six years from stocks and war;
rants OF the TWA and PAA, ex-
elusive of reinvestment in their
stocks.
The statement also contained the
first categorical denial made by
Lindbergh of implications that he
had received "giftS' of stocks
from airline operators.
According to his statement, he
realized a profit of $150,884.8O from
his Pan American transactions.
This, with "several thousand dol
lars additional he reinveSted in
the company His TranScontinen-
tai and Western Air profits total
ed S195 ,633.75.
The ptofit figures, the summary
added, did not include Lindbergh IS
deductions for business expenses,
purchase and operation of air.
planes or the costs of survey
flights. For time. according to
the statement, his salaries from
the two companies aggregated
$4,000 a year but were somewhat
lower in recent years.
Explains Stock Deals
Lindbergh also explained a tran
saction revealed before the senate
committee which indicated the fly
er received a gift of 5000 shares OF
stock Of the Transcontinental Ali
Transport, predecessor of the TWA
valued at S250,000.
In accordance with the terms OF
/ his employment contract executed
i'll May, 1929 his statement said
Colonel Lindbergh received $780,
600 in cash and an option to pur-
chase stock in the company. He re-
invested all of the S25O,OOO in COM
pany stock
The flyer revealed his salary as a
technical adviser to TAT was S1O,-
600 a year until 1881, when its op-
erationS were taken over by TWA.
The TWA now pays him $4,000 a
year, reduction, it was learned, he
requested when the pay of the
lines pilots was reduced. His Pan
American Always salary is $4,000
annually.
Colonel Lindbergh," the state
ment continued, has had no other
investments in aviation companies
since 1890. Up TO that time. he had
total less of $554.75 from invest
ments in ether aviation companies.
He received a salary of $4,000 a
year as technical advisor to the
Pennsylvania railroad for three
years. Since 1881 he has received a
salary of ST a year
After explaining that all of the
facts contained in his summary
were set forth III detail in answer to
the senate committees question
naire, Lindbergh disposed of impli-
cations that he had received gifts"
in this single sentence:
Colonel Lindbergh has never re-
ceived a gift of stock, stock op-
tions or warrants and clearly states
so IL answer to Paragraph of the
questiLnnaire.'