£10,000,000

Hawera Star, Volume XLVII, 6 March 1928, Page 5

£10,000,000

* MISSING IN THE U.S-A OIL SCANDAL.

WASHINGTON, Feb. 1.8. John J>. Rockefeller, Jim., hail the entre of the stage at the Teapot Dome Inquiry yesterday. He promised to help the committee to discover who got the £10,000,000 alleged to have been uniceounted for in these transactions.

The inquiry is being made by a Sen:e committee, and is making charges bribery arising out of the disposal f the naval oil reservation to a private imp. Mr. Rockefeller’s tetimony ciented a . stir. He said that- he had all bus iomanded the resignation of Colonel u-wart, president of the Standard o**l !>. ; :f Indiana, because Stewart refused eply to questions asked by the Kon- • committee earlier in the week. Apparently Stewart defied Rockefeller also •“1 want none of n;y employees to do ■v_hi u fr I. wouldn’t do," said Mr. Rockefeller. “The greatest contribution iy father made to the nation is not the ihilanthropies, but his investments in a qiod business, which has been run oil a air plane." • “This deal,” he said, •'amounting to i national scandal, reflecting on the oil nisiness and all business." This testimony centres upon one gigantic transaction, when the Oontilenta! Company bought 33,000,000 barels of oil from a Texas group, selling it the same day to Harry Sinclair, who •Id the Dome leases, and the Standard i Go., at an advance of Is per parrel, 'his huge profit vanished into thin air its far as the records go. Several men, highly concerned in the natter, are still travelling in Europe, allegedly on the proceeds.