The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1945-11-03

| Roosevelt taken by the treasury LII the In
vestigation of his borrowings and his late faith
ers artful recapture of the collateral, sheds
light on the character and mentality of the
young general In matters of big money his
attitude is beautifully casual Particulars es-
cape him. Dates, too, elude him when they
concern his financial dealings. But he is as
accurate as a timetable on many dates of his
military service and his memory is firm about
the telephone conversation between Franklin
D. Roosevelt and his prime sucker, John Hart
ford, whose debt of 100000 was settled for
1000 of Jesse Jones money. Hartford testi-
fled that he felt that he had been earmarked
by President Roosevelt for this touch, that he
was ION the spot and that the President
gave him to believe that he would be morally
responsible for loan which he had verbally
endorsed Elliott's memory has it that his
father told Hartford only that he never inter-
fered in Elliott's business affairs. He is alb
solutely certain on that.
AS an example of the vagueness, when he
was asked about $4,000 put up by Charles
HARDWOOD when Harwood was hopefully expect
ing presidential appointment to the Federal
District of Appellate Court, Elliott replied
"I'm not sure today whether it is loan or
(stock) purchase"
Harwood's version is that the deal was a
loan to Elliott's company for two-year term
thereafter the stock was to be his Following
the Virgin Islands, a cheap job and not what
he wanted at all. And, although he was en-.
titled to the collateral after the loan was de-
faulted, HARDWOOD still tried collect the
money. Then, finally, when Jones offered him
$500 for it, HARDWOOD, still wanting that Job
on the bench and suspecting that the stock
was coming back in value, refused to let 60
If it was purchase, why did President Roose-
welt want the collateral back? Even if it was
loan, gone to default, why did he want
Jones to panic it back into the family's pos
session, unless the President, too knew the
stock was due for swift rise which now has
showed it up above the price at which Har-
wood got 1t?
Elsewhere in the record it appears that this
deal was rush act pulled off by Elliott
uncle, Hall Roosevelt, the brother of Mrs.
Eleanor Roosevelt. The company was up
against 1t for current payroll and yet, &C..
cording to HARDWOOD, Hall sang him song
about the wonderful opportunity that he was
offering him.
To proceed however:
Odd your grandmother leave you any in
heritance?
Ayes.
Q.-How much was that?
A.-$19,O00
Gin 1912, at the time you effected the
settlement (of the loan debts) did you know
A.-No.
Q.-You didn't list this as an asset?
Al did not
Elliotts grandmother, the late Mrs. James
Roosevelt, mother Of his father, died Sept
7, 1941. The will was probated in 1912 It was
In 1912 that Jesse Jones, then head of the
RFC and a member of the Roosevelt Cabinet,
settled various debts for Elliott at the Presi.
dents request. To John Hartford representa-.
tons were made that Elliott was up against
it.
Odd you receive any other gifts from
relatives between 1894 and 1912?
A. - received a gift from my brother
Games).
Q.-Do you recall the date?
A.-No.
Q.-Do you recall the amount?
A.-Three or four thousand dollars. "a mar
gin of uncertainty of either 80 1-3 per cent or
Is per cent?
Q.-At the time Mr.. Jones negotiated the
settlement Of your Indebtedness did you or
your representative apprse him that you had
an asset of $4,000 from an inheritance?
Al did not because I did not know that
had such inheritance
Elliott then said that "probably'' he first
learned that he was to get an inheritance in
september. 1943, when his father told him
his share would about $4,000. He first
learned that he was heir to $4,000 in April
1915.
At that point, the examination took grace
Iul TURN to other matters and Elliott was not
asked then, at least, whether he, a general
IN the American Army has offered his SIG 900
windfall to reduce the losses of those who
had trusted him and relied on his honor and
integrity OF his father. If, on further study of
the enormous record, find any evidence that
Elliott did made such application of his $19,-
ooo snail, promptly upon recovery from ny
astonlshment, report that information to YOU
IN separate essay.
In the expanded state of the Army during
the late war, the practical standards of con-
quot Tor officers, of course, were much less
exactng than those Of the peacetime profess
Slonal code, which are scrupulous of matters
OF honor Recognized authorities have held
mat neglect to pay debts, in an unofficial or
private capacity, when the debtor is able to
pay the debts or part of them, might be held
by court martial to bring discredit on the
service and merit punishment.
IN Scrupulous fairness to Elliott it should be
SAID mere that he made one statement which
apparently made profound impression on the
treasury agents for they gave it an entire
separate page in the record 1t was that he
nao every intention'' to make payments to
John Hartford and David G.. Baird, another
sucker. This 'intention'' seems to conflict
however with a statement attributed to FL
lott recently in California to the effect that
they dealt themselves out when they elected
not to sell him out of his assets following his
plea Of poverty.
QUOTATIONS