Evening star., 1948-01-01
Graham and Broker
Al Odds on Whether
He Knew Of Dealings
BY the Assoeiaisd Press

Brig. Gen. Wallace H. Graham
held fast today to his conten-
ton that he was unaware of any
grain holdings In his name until
weeks after they had been
bought for him by his broker.
President Truman's personal ply
sician thus took direct issue with a
statement issued in New York by
the brokerage house Of Bache & Co.,
which has offices in Washington.
Taking note Of Gen. Graham's as
sertions after his name appeared on
an Agriculture Department list OF
grain traders Monday, the New York
and Chicago firm said yesterday, ut
is essential for the record" to show
that:
"All transactions made for the
generals account in both securities
and commodities were at all times
made on his instructions and the
customary written combinations
were sent to him"
(The commodities exchange in
Chicago has "a very definite"
rule against so-called discre-
tionary accounts on grain trans
actions, according to Charles
Quarles, manager Of Orvis &
Bros Washington Office. A
broker Is not permitted to con-
duct such transactions without
specific instructions from
trader, he said)
Lost His Socks, General Says.
Gen. Graham had said he simply
had turned money over to his
broker with instructions to use hi.
own judgment In investing it. HI
said he didn't know he owned any
grain until he made inquiries last
october and as soon as he learned
of his holdings he ordered the grair
SOLD.
IT lost my socks" the genera
told reporters in reiterating the
point after he had been told o1
the Bache & Co. statement.
Mr.. Truman told his news con.
ference earlier yesterday he did moi
think Gen. Graham had done any
thing wrong.
Meanwhile, the New Year holiday
broke the 1ist-a-day pace the Agri-
culture Department had set this
week for releasing the names oi
commodity traders.
20 Names on Latest List.
It's latest list yesterday included
the names of 26 Federal employe!
who, Secretary Of Agriculture An
derson said, had speculated in cot
ton and egg futures at some tint
in the last two years. All were de-
scribed as officials and clerks hold
ing relatively minor positions. Theil
market positions were not given.
A list of 3,131 names was made
public Tuesday and 80 names, in
cludipg that of Gen. Graham, wert
published Monday. Another 1,00t
or so are due to be released tomor'
row.
This will bring to more than 6,00(
the names of traders brought i1tt
the open since Congress, acting OF
reports that Government insiders
have been speculating in food ant
other products, called for full pub
licity.
Hopes to Discontinue List.
Mr.. Anderson told newsmen yes
terday, however, that he hopes the
practice of naming private citizens
can be discontinued because of the
"heartaches" involved.
He said he will propose halting
the publication Of all but public Of
'f1cials' names as soon as Everybody
is satisfied we are not trying to
shield any one"
AS an indication of how some
small investors feel, Secretary An
derson read from a letter he said he
had received from sman-town doc
tor who had lost some OF his saw
ings on the corn and cotton markets
IT am sorry am not extrovert
enough to take this in stride" MIR
Anderson quoted from the lettel
without naming its author, "but Lift
does not hold the promise for mt
to try to live down this public stigma
after losing the money.
my family will have my insur.
ance at least, and they can move
elsewhere. My wife says I act like
a man condemned, but she does mo-
know it is only a reprieve until thu
day my name is published.
you hold much potential happi'
ness or heartache in your hands, Mr.
Secretary. May God guide and have
mercy on us both"
House Unit to Consider Request.
Representative August n. Andre.
sen, Republican, of Minnesota, chair.
man of special House committe'
investigating market speculation
said any proposals put forth by Sec