OIL SPECULATION

New Zealand Times, Volume LI, Issue 11783, 20 March 1924, Page 8

OIL SPECULATION

HIGH OFFICIALS ACCUSED. “BIG OUT IN THIS.” (Sydney “Sun” Cable.) WASHINGTON, March 18. At the Senate Oemittee’s inquiry into the oil frauds, Holdridge, an exagent of the Departjnent of Justice, testified regarding the exhibition of the Dempsey-Oarpentier fight films by various States against the regulations. He stated that Muma, a Japanese reporter on one of Edward McLean’s papers, arranged for McLean to interview Daugherty in Mama’s behalf. Daugherty took- up the matter. Muma told the witness that Daugherty became head of the syndicate showing the films. He also told him that Daugherty said that there “ought to be a big Cut in this,’’ referring to prospective profits. Mnma said that Daugherty himself fixed 60 per cent, of the receipts as the share the political syndicate should get for allowing the pictures to be . exhibited. Lewis Bond, an accountant of the Federal Trade Commission., testified that amongst speculators in Doheny and Sinclairs oil stocks were U. M. D.oughorty, Attorney-General; O. R. Slomp, secretary to President Coolidge; and Senators " Curtis and Elkins Daugherty’s aooount was operated under the fictitious name of "W. W. Spaeth.