Evening star., 1947-12-22
Speculation
Continued From First Page

their business as Federal or State
smploye.
He would not say how many of
these were Federal employees or
whether they were in the executive
or legislative branch of the Govern
ment.
TT will be apparent later on who
they are" the secretary told re-
porters.
Mr.. Davies, a former vice presi-
dent of the Standard Oil Co, OF
California, left the Government
service as acting director of the
Interior Department Oil and Gas
Division. He had remained in
Washington after liquidation of the
Petroleum Administration for War
at the request of President Truman
and Secretary Krug.
He came to the Capital in June,
1941, as deputy petroleum co-ordi-
nator under former Secretary of the
Interior Ickes, and continued as an
official of the Federal petroleum
agency throughout the war.
Last year President Truman
awarded Mr. Davies the Medal of
Merit for his contribution to soll-
tion OF the wartime fuel problem.
The partial list was made public
under provision of q joint resolution
Congress adopted late last week
authorizing the Secretary to disclose
names of traders.
1t followed the appearance before
the Senate Appropriations Commit
tee OF Mr.. Pauley. who testified that
he had large holdings in commod-
tiles when he took the job under Mr..
Royal, but has been getting rid of
them.
Additional lists will be made pub
lie from time to time, Mr. Anderson
said, until the names of all the
traders on the Commodity Exchange
administrations list have been pub
lished
Both houses of Congress voted
that names of big traders should be
published after the Senate Appro-
priations Committee began an in
vestigation of reports that Govern
ment insiders" have prof1ted from
market operations
Senator Ferguson. Republican OF
Michigan. said publication of trad
ers' names will be only the first step
in congressional efforts to learn
whether there is any connection be-
tween Government food buying and
private speculation.
Ready to Push Probe.
Senator Ferguson told a reporter
before he left on . Christmas va
cation that the Appropriations Sub
committee which he heads will be
ready to 60 into the speculation
question full blast when Congress
reassembles January s.
What we want to find out" the
Senator said, lis whether any per-
sons who were in position to know
what the Government was going
to buy and when it was going to
buy used that information to their
own advantage.
The publication of the names
OF the spectators is only the first
step and means little by itself If
there are any leaks from the Gov
ernment departments. we want to
know about them
Senator Ferguson said he thinks
Mr.. Pauley will produce the books
covering his market trading early
In january. He wrote Mr.. Pauley
yesterday asking that the records be
turned over to the committees pro-
fessional staff without further
delay"
Mr.. Pauleys testimony was that
he had commodity market holdings
Of around $1,000.000 when he took
over the job as Mr. Royals assist
ant in September He has contended
repeatedly that he never used any
information he obtained in Govern
ment positions to make a profit for
himself
Chairman Bridges of the Full Ap-
propriations Committee, said that
the long liSt--some $4,000 names
probably will arrive at the Capitol
at the end of this week. or the first
of the next.
Senator Ferguson said he fears
that information which Secretary
Anderson intends to make public
may prove to be "sketchy."
Apparently the department kept
records on only the Chicago ex-
changes and made only spot checks
elsewhere" the Michigan Senator
said. "As far as / can learn, these
spot checks were made more or less
hspnazardly and not in relation to
sns government buying OF COM
nose Kind of checks won't help
m..tha 10 ash IN trying to find out
WE me a any insiders went into
the market and bought commodities
Jus. sneso s OF Government purchases