Evening star., 1948-01-15

the Appropriations COmmlCCee room
while the hearing record was read
is a 42-year-old long time Govern
ment employe, member of Phi Bets
Kappa and Phi. D. and a member
Of the District and Illinois bars, al
though he is not currently practic-
ing law. He also owns farm in
Illinois, his home State.
He read the committee a long
statement outlining his career and
market activities. He said he had
expected market break last spring
and therefore had sold grain, mostly
oats, with that expectation. When
prices rose, however, he suffered q
loss. All his dealings in the market
he said, were in small lots.
Asked If he had inside informa-
tion" on which he based his pur-
chases, he said: .=...-
"My conscience is completely clear
on that. did not"
His bad guesses on the market, In
fact, had resulted in his helping
Mr.. Truman hold prices down, to my
sorrow" he added. He called his
losses Substantial but not ruinous." /"
His speculating. he said, was mot
unethical."
Saw "ConfidentiaP Items.
Mr.. Rose said he had from time
to time seen things that were
marked confidential" but that they
did not have anything to do with
grain requirements.
This testimony appeared to be
contradicted by that of DR.. William
Y. Elliott, Mr.. Roses boss and re-
search director for both the Herter
Committee and the House Foreign
Affairs Committee.
DR.. Elliott told reporters that Mr..
Rose certainly has had access to
confidential material while working
both at the Library of Congress ref
erence service and at the Herter
Committee.
While discussing just what in
formation Mr.. Rose did have and
whether 1t was inside" information,
Senator Green, Democrat, of Rhode
loidAiu dSSuoCu rN1. 1eO0S VI Cf fdNnlS
his questions, adding:
you give very poor impression
of frankness."
Ferguson Sees Fraud on Public"
Mr.. Rose contended that he had
merely put together such informa-
ton as came to him and which was
generally available. To this Senator
Ferguson said that If that was the
case he had committed a fraud on
the public" which was paying his
salary on the grounds he was ~
expert.
Senator Green said that any one
who had a drink with YOU and
asked your opinion" would then say
that he had ''tip from an insider."
The Senator asked Mr.. Rose If he
thought it was Sound policy for
the Government to permit its en-
ployes to speculate in the market.
Mr.. Rose replied he did think 1t
was sound policy unless the employe
had inside information. He said he
did not believe Government employees
as a class should be restricted in
their activities ANY more than the
general public"
Elliott Tells of Data.
DR.. Elliott, question as to the in
formation available to MIR. Rose, said
he did have information before 1t
was available" to members of Con-
gress themselves since committee
are not always released as
quickly as they are written and he
had taken part in preparation of
three such reports.
1t was brought out that Mr.. Rose
wrote the major part of the Herter
committee report on world grain
supplies and availability issued dur
ing. the recent special session of
Congress and had a part in Two
other reports. on fertilizers and
stockpiling of strategic materials.
Mr.. Rose lives at 1908 Sixteenth
street NV. and before joining the
Library of Congress reference serv-
ice was employed by the Commerce
the Board OF Economic
Warfare, the Foreign Economic Ad-
and the Rural Electri-
ication Administration.
The new list Of cotton traders
made public by Secretary Anderson
the names of 5,651 per-
sons and firms who were active in
the market October 1913, 1916, a |
period marked by a sharp price
break.
Mrs. Edith Thomas" was re-
ported in the new list to have held
/ speculative position of 800 bales
long" on october Is. This was
he same position the person with
this yAme was reported to have
held a July 81, 1916, the date cow