Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-23

1t Is a sale where there Is no actual
passage of any money and where one
sale matches the other"
Immediately afterward Schwellen-
bach read the definition Of wash
sale" Of several financial experts, one
of whom, Charles F. Hodge, described
it as a fictitious sale" The Senator
wanted to know If he agreed with that
definition.
IT have no comment to make" he
replied.
Hopson's testimony was interrupted
suddenly when Senator Tydings came
into the room.
Robinson was called to the stand
and his attention directed to his tes-
timony OF yesterday that Senator Tyd-
ings was present at a cocktail party
he had given at the "F Street Club. :"
Tydings Denies Attendance.
Tydings looked directly at him and
asked:
MT. Robinson, did you ever invite
me to a cocktail party? Did ever
attend a party you gave?"
You were invited by young lady,"
he replied.
How do you know it?" Tydings in
quired.
II read it in the newspapers" Rob-
inson answered. 1T was q joint party
and Miss Walker invited you"
IF I accepted her invitation to q
party" said Tydings, what has that
got to do with you? You know. Mr..
Robinson, I never attended any party
you ever gave. might have been at
the club when you were there. but that
doesn't mean I attended any party
given by you
"You don't know that I was there?''
again demanded Tydings.
"Well, read 1t in the papers," said
Robinson.
well, will tell you this" declared
Tydings. You never saw me at q
cocktail party in your life."
That's not true" shouted Robin
son. Il had dinner with you, Miss
Walker and another young lady"
I've been in the F. Street Club
only once in four months" Tydings
said, land you certainly were not at
that party"
Tydings then pressed Robinson to
say definitely whether he attended
the cocktail party.
IT don't think you were there" Rob-
inson finally declared.
Hereafter" declared Tydings,
when you use my name in any testi-
mony, be damn certain you are right.
You know you have never seen me at
a cocktail party in your life. I get in
vited to lot Of cocktail parties, but
I don't always attend them"
Tydings left after that statement
and Hopson returned to the witness
stand.
On returning to the stand, Hopson
was questioned about various stock
sales.
Senator Schwellenbach inquired If
securities statesmen did not urge the
investment public to buy stock on the
basis Of an advancing market on Ger
tain issues.
II don't think our stock was sold
on the basis Of its going up" replied
Hopson.
Chairman Black then questioned
him about plan he said he under
stood the witness to have said that
the Securities Commission was work.
ing out to sustain a market by sales
that are not really sales.
Hopson declared his statement had
been miSconstrued and what he really
meant was that the securities law rec
ognized that there had to be some
method Of sterilization.
Market Activity Explained.
Black next asked Hopson about q
stock transfer Of 464,ooo shares be-
tween companies of the Associated
System. He said the object was to
keep up a sufficient market activity
so any persons owning shares could
find a ready market.
Black argued that the transaction
was intended to keep the price Of the
stock up.
Hopson then declared he. did not
believe any company should give out
information for purpose of raising or