Evening star., 1948-01-13
Grohom's Wheat Account Kept
Open 7 Weeks After Criticism
BY Trumon, Broker Testifies
Presidents Doctor
Admits Cotton Deals,
Suys He Sold Grain

Brig. Gen. Wallace H. Ora
hams broker testified today that
under written instructions he
held Gen. Grahan1's wheat trad
ing account open until November
Is, 1947, seven weeks after PreSi-
dent Truman had criticized grain
spectators.
Harry Brisker, customers man for
Bache & Co. brokers, also told a
Senate Appropriations Subcommittee
he does not remember specifically
that Gen. Graham called him after
the Presidents October blast
against spectators and asked that
Gen. Graham's grain holdings be
sold.
Gen. Graham, the Presidents per-
sonal physician. had testified only
few minutes earlier that he got
hurriedly out of the wheat market
after the President lasfed out on
October against gamblers" in
grain. He got out, he said, except
for one small purchase, but con-
tinued to deal in cotton until
December Is.
Admits Profit on Grain.
Gen. Graham, who previously had
said Il lost my socks" in trading in
commodities, admitted today that
he made $6.165.25 in the commodity
markets, but said that losses in
stock transactions gave him a net
loss of about $4,800."
The Army officer said he didn't
know cotton was regarded as COM
modify and though he was correct
when he said in a public statement
that he had gotten out of the COM
modify markets.
Gen. Graham referred to a state
ment he issued when it was first
disclosed that he had been trading
In commodities.
Gen. Graham said President Tru-
man did not know he was in the
market until lists assembled by Sec
retary of Agriculture Anderson dis
closed his name He added that he
never got any trading advice from
any one except his broker.
Ferguson Questions Graham.
Chairman Ferguson OF the sub
committee asked Gen. Graham
when he had told the President
about his dealings.
mot until after all this business
was finished" Gen. Graham replied.
What did you tell the Presi-
dent?" Senator Ferguson asked.
Il don't know what said" Gen.
Graham replied, his voice dropping.
1T was pretty rugged that day."
Before Mr. Brisker went to the
stand, Gen. Graham also had re-
vised his earlier story that the
broker bought commodities for him
without his knowledge. Gen. Gra-
ham said he assumed full RESPONSE
bility" himself for the trades.
Senator Ferguson asked Mr..
Brisker:
did you ever get instructions to
finally close this account?"
mo, sir" the broker replied. He
said, however, that he has sold all
the commodities he held for Gen.
GrahamS account.
Hearing Over in Two Hours.
The committee wound up its hear
ing in less than two hours, and
Senator Ferguson said that so far
as he knows its inquiry into Gen.
Graham's transactions has ended
with the exception of certain addi-
tional information which it asked
Bache & Co. to furnish.
Gen. Graham told the committee
that all of his dealings on the COM
modities exchanges, including cot
ton and cottonSeed oil, were closed
out December 18.
He added that his brokers' records
showed that all the transactions
made for Gen. Graham in wheat
and oats were closed out october 6,
1947, or earlier except one smaller
percentage of wheat purchases and
this was closed out by the end Of
October"
= Denying he had any inside" in
formation on Government COM
modify purchasing, Gen. Graham
told the committee:
Nobody with whom I worked in
the Government and no other Gov
eminent Official or employe ever
gave me any information about
commodities and if. they had I
doubt that I would have understood
1t very well. I am a surgeon but I
am not flnancier or economist and
never pretended to be one"
Gen. Graham's original public
story was that after Mr.. Truman's
blast at commodity gamblers" he
1See SPECULATION, Page A-4)