Evening star., 1935-07-24
Lobby
Continued From First Paee)

Railway Co. and the Mercantile Ma
tional Bank of Dallas.
Write up" Admitted.
He agreed under Blacks questioning
that the Federal Trade Commission
had found an investment of S2.39O,0O0
in the Texas Light & Power Co. had
been written up" by Electric BOND
& Share to 10.550000.
Have regular dividends been paid
on that Sl0,55O,OO0?" Black asked.
Some dividends have been paid,
but not continuously" Carpenter re-
piled.
He said he owned 40 shares OF
common stock of the Texas Power &
Light Co., which, he declared, he may
have obtained at a slight conces-
sion"
We we're interested in having our
employees take an interest in owner
ship of the company" he said. Il
don't remember whether this company
ever failed TO pay dividends, although
l think the common stock dividend
was omitted one year"
AS Black sought to learn details of
the financial set-up of the T. P. & L.
and the American Power g. Light Co.
/ Carpenter replied frequently, III
/ have to refer to the records. -.
The witness testified he had an
agreement to sell his 40 shares in r
P. & L. back to the Electric Bond
& Share when he ceased to be pres
ident
Correspondence in Quiz.
Lowering his voice, Black asked
Carpenter whether he had any cor
respondence relating to the admins
tration holding company bill.
Very little correspondence. Car
penter replied He handed Black a
file several inches thick.
, Carpenter said he had come to
Washington in February in connec-
ton with the utilities bill accom-
panied by w. w. Lynch, one of his
assistants
He said he also suggested that Joe
A. WorSham, vice president. come
here
The Texan said he had talked to
Chairman Rayburn, of the House In
terstate Commerce Committee, and
most of the Representatives and
Senators" from Texas
Representative Patton. Democrat of
Texas, visited him at his hotel room,
Carpenter said, and Representative
johnson, Democrat of Texas, also
stopped by the hotel The testimony
then turned on the question of ex-
penses.
Earlier Black disclosed that commit
tee investigators had been delayed for
a week in obtaining the records of
the Edison Electric Institute.
Finally Got Books.
Commenting on the institutes pub
lished statement today of its expendi-
lures to oppose legislation, Black said
the committee agents had been there
eight days land finally acquired access
to the books two or three days ago."
Black also announced the commit
tee had received an answer to its
QUESTIONABLE from the Pacific Light
ing Corporation of San Francisco
which was incomplete" and wholly
lacked the information asked
He suggested the committee would
send investigators to check up every
case where missionaries were not
properly answered.
The Edison Institute said it had
spent $256.749 in opposing legislation
it regarded as harmful to the indus
try. including the holding company
bill.
Tax; Activities Added.
The Senate Lobby Committee added
to its calendar today prospective in
vestigation of steel companies opposi-
tio'l to the Roosevelt tax program.
The Iron and Steel Institute was ac-
cused by Senator Schwellenbach.
Democrat of Washington, of using
"palpably fraudulent" methods in pre-
pairing material to show that two
thirds of every steel dollar" already
is paid in taxes.
Chairman Black said the commit
! UCc MOuld JdhC tItdt AQCOGlOIl uP
the time comes"
| After additional evidence of unau-
thorized kilograms to members of Con-
greSs, expressing opposition to the
Wheeler -Rayburn utilities bill, was re-
ceived yesterday, the Communications
Commission ordered Western Union
and Postal Telegraph, to produce COM
plete information. covering all Offices
! in the Uuited States. on the sending
| of any such messages.
The session was near the days close
when Schwellenbach raised the tar
bill lobby question. He read state
ment from Steel Facts, organ of the
Iron and Steel Institute, and objected
to passage which, he said, gave fig
ur IS on the proportion of steel money
that goes for taxes. Instead of reckon.
ing the tax payments against net in
come, he said, the article should have
set them against gross revenues.
Held Fraudulent.
1T is an effort on the part of those
behint the article" he said, ito in.
f1uence Congress 1t Is palpably fraud
ulent. When We get through with tht
utilities hi.l an going to ask that ths
committee cal. in the people from tht
steel industry and other branches o.
business which are seeking to inf1u.
ence this Legislation"
Chairman Black, meanwhile, sale
Sena .or Donahey. Democrat of Ohio
had turned over to him evidence ol
questional e mt thods used in Ohio ir
conducting drives against the utilit,