FINANCIAL INQUIRY
Operations of Chase Bank
FURTHER REVELATIONS
Washington, October 31.
At the resumed hearings of the Senate Committee, It was disclosed to-day by Mr. Albert Henry Wiggin that he began selling short Chase stock through his personal companies about a month before the market crash In 1929. <
Mr. Wiggin also told of the formation of a series of private corporations in the United States and Canada, for the purpose of evading income tax, and also the formation of an underwriting project managed by Mr. Arthur Cutten, and including Mr. Harry Sinclair, which netted the participants twelve million dollars.
Mr. Wiggin listed the officers of the bank and its affiliate who were directors of his personal corporations, Mr. Gatcw McGnrran, then chairman of the New York Federal Reserve Bank, being among them. Several officers and directors of the bank were deeply indebted to Mr. Wiggin's personal companies at the end of 1932, when the latter retired, and when a 100,000dollar annuity was voted him. The Federal authorities are now examining the income-tax returns of Mr. Wiggin.
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Dominion, Volume 27, Issue 33, 2 November 1933, Page 11
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176FINANCIAL INQUIRY Dominion, Volume 27, Issue 33, 2 November 1933, Page 11
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