The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1945-11-06
Fair Enough
By WEsTBRooK PEGLER
Copyright 1915 BY King Features syndi

ever little scheme Of the type which he 50.
orously deplored in the practises of stock-mar.
ct racketeers, is developed by continued
Judy of the testimony taken by the Treasury
n the investigation of the loans of his son.
elliott.
It has been testified that the President
sprang the trap on John Hartford when Ell
lott wanted to borrow 100000. Hartford says
he did Elliott says he didn't. Hartford's story
is firm and straightforward. Elliott's is vauge
and devious except on some points where it
serves his interest and his late fathers repu-
tation to be positive and exact. But not even
Elliott denies that the President instigated the
cleanup whereby Jesse Jones got back $500
shares of Elliotts Texas State Network for
81, 500. It was represented to the lenders who
gave up this stock that it was worthless al
| though Elliott, in recent interview in Holly
wood, boosted that in the same year, 1912, the
company 'began to show a profit
If the stock was worthless and without pros.
poets what difference did it make to President
Roosevelt who owned it? Why did he want
Jones to get back the stock as well as the
notes which were the evidence OF indebted.
ness?
The proceedings prove conclusively that
by means OF representations that it was worth.
by means of representations that it as worth
less, on strong prospects that it would re.
over to Elliott or applying it on his SON S in.
terest windfall fortune. In the end he did
apply it to his sons interest for he turned
it over to Elliott's wife Of that time. Ruth Goo.
gins Roosevelt, to satisfy Elliott's financial
obligation to her in their divorce settlement
and to meet Elliott's financial obligation to
support their three children during their de.
pendent years.
Two Of the men who represented that the
Ill D H.
Charles Roeser, Fort Worth oil men and
friends of Elliott At Elliotts suggestion Rich
ardson had been invited to the White House
and entertained by the President in the role
of counselor on the problems of independent
oil producers, of whom he was one. Roeser
also was similarly treated and consulted FL
lott was in debt to Richardson.
Richardson testified that he had told Elliott
that he thought certain proposal then pend
ing would destroy every independent in the
business Thereafter the President invited his
sons creditor to the White House to advise
him on matters of vital Importance to Richard
sons financial interests.
"Mr. Roeser and myself went into great
detail giving our views,'' on 1.-THE general con-
dition and what could be depended on in the
oil business Richardson said. He and Roeser
represented the viewpoint Of the independent
oil interests
Elliott's testimony contains rather ram
bling statement that Jesse Jones sent the stock
certificates to Miss Grace Tully, the Presi-
dents secretary at the White House, to be
kept for him. He never saw this stock, how
ever. He mentioned it several times but
Through some mistake or mixup," nobody
seems to know where the certificates were.
The thought naturally occurs that the Presi-
dent, knowing his sons character, was giving
him the run-around in the mistake or mix
up and preparing to meet his divorce iabi-
lities.
"In January, 1914, Ruth G.. Roosevelt decid-
ed that she would carry out divorce proceed
ings," Elliott continued, land wrote the Pres
ident and asked if the certificates were avail
able and she wanted them in Texas"
Here is another indication that the play was
many-sided and carefully arranged in antici-
patton o a divorce. Otherwise, why would
Ruth so confidently write the President of the
United States asking for the stock? Doesn't
this show that she knew the President had
gathered it in for this purpose?
The President sent the stock to her with
letter saying they had been bought back. Halt
OF the stock, now valued at $3.50 000-plus,
went 10 Ruth, the other half was placed in
trust sor their three children. In payment of
his $4,000, Richardson got 409 shares in 1914,
by which time, Elliott says, the company was
$500 900 in the black, |before taxes Ruth
testified that she and the children's trust went
$3.50 in putting up the 400 shares for Richard
son. The record does not tell why Richardson
was so favored by contrast with the treat
ment Of the others. They not only destroyed
their notes but gave up their collateral, where
as Richardson later received $4,000 worth
OF that collateral. Richardson testified that
today, I don't think would take the $40
600 for the Stock
So, partly as result Of representations by
Richardson that the stock was no good elicit
ed from him by Jones, acting for President
Roosevelt Richardson, two years later recoup-
ed his $4,000 loan by means of stock sur
rendered by two eastern creditors, John Hart
ford and David G. Baird.
At another point in the examination of FL
lott, in reply to questions he said he had
been married once before, to Elizabeth Bon
ner, Of Villa Nova, Pa, who bore him one
child.
He was then asked how much he contribut-
ed to the support Of that child in 1871 and 1912.
''Nothing," said Elliott.
Ibid you contribute TO the support of that
| child prior to that timer
"No," said Brigadier General Roosevelt.
| An interesting case is pending before ma
| val board in Washington Of marine sergeant
who was dismissed from the corps by a court
of martial some years before Pearl Harbor
for alleged dishonorable failure to pay a gro.
Gerry bill of 120. He is asking Reinstatement
on the ground that he was mistaken for anoth.
er man OF exactly the same name.