FINANCIAL METHODS
U.S. SENATE DISCLOSURES
(Received November 1, 3 p.m.) ',:.. WASHINGTON,;;October .31. .At the resumed hearings of th,e,,Senate Committee, it was disclosed ioday by Mr. Albert Henry Wiggin that, he began selling short Chase stock through his personal companies about a month before1 the market crash in 1029. .Mr. Wiggin also told of the formation .of a- series of private comporations in the United States and Canada for the purpose of evading income, tax, and also the formation of. an underwriting projectmanaged 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. Gatew McGarran, 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 100,000-dollar annuity was voted him. The Federal authorities are now examining the income-tax returns of Mr. Wiggin.
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Bibliographic details
Evening Post, Volume CXVI, Issue 106, 1 November 1933, Page 13
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173FINANCIAL METHODS Evening Post, Volume CXVI, Issue 106, 1 November 1933, Page 13
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