Show probe Reveals Pool WV I J yv S 1 I Profit M T Tr f fl 9 fl j of S TT 1 OI m rr fl f o Five Millions V Raskob Among Operators Who Split Immense Stock Winnings DEALT IN RADIO ISSUES Gains Accumulated in Week of Trading CD n Dr United Press W WASHINGTON May 19 The 19 The operations operations operations op op- of or a radio pool which In a single week gained profits proms of nearly for its participants were described as the banking and currency currency currency cur cur- rency committee resumed public hearings on its stock market Investigation Investigation gation Men well known in the worlds of ol finance and politics politics Percy Percy Rockefeller ler Walter p P. P Chrysler John J. J Ras Has Raskob Raskob kob the Fisher brothers and others were were listed as having profited profiled handsomely handsomely handsomely hand hand- during the quick turnover of stocks that were increasing in value by leaps and bounds MANAGER IA TESTIFIES William A. A Gray committee coun- coun told of or the results of his investigation investigation gation occasionally asking lion ion from Thomas E. E Bragg Dragg one of the hc pool managers Bragg Dragg was the first witness as the hearings bearings were resumed I The pool operated in March 1929 1029 and the profit was accumulated during during durin dur dur- in ing seven days of ot operation during which the pool was said to have traded traded traded trad trad- ed in shares of stock I IGray Gray said first that the pool participants pants put up through W W. E. E Hutton Co and split a profit of As Ashe he progressed in his statement he changed this figure and said that aggregate ate of was put up with profits aggregating 4 The firms that participated In the pool were M. M J. J Meehan Mcchan Co E. E F F. I Hutton lutton k Co and Block Maloney Co three of the leading stock exchange exchange exchange ex ex- ex- ex change members Chrysler the motor magnate RaskOb Raskob Ras Has kob Democratic national chairman and former head of General Motors and the Fisher brothers of Detroit appeared ap- ap to have been among the chief beneficiaries of or the pools pool's operations Percy A. A Rockefeller nephew of John D. D Rockefeller Sr proved to be only a minor participant in the pool although he was the first to tell the committee of its operation His profit prof prof- it L were only for the several days das of activity STILLMAN STILL I INVOLVED OLVEDA A similar profit prom was shown by James rames A. A Stillman whose marital difficulties difficulties dif dif- have brought him as much publicity as his post with the National National Na- Na ional City bank Stillman and Rockefeller only put up sma sums holding shares each to a profit prom of each Others participating were H. H B. B Swope Thomas J J. J Reagan Branford H. H I. I Ellsworth C. C J J. J Mara J. J J. J Riordan Mrs Urs D. D Sarno wife wiCe of the head of the he Radio corporation and Charles M. M Schwab Schwab made Gray said the figures had been l taken from the books of the brokers themselves es and were exactly ac ac- ac- ac curate Gray read a list of names of persons per per- sons son who received comparatively small mall sums from the pool operation apparently without having havin put up an any 1 money The aggregate o of these payments payments pay pay- ments was Gray said J. J P. P got SHOWMAN AN PROFITED Josep P P. was President Wilsons Wilson's secretary Another beneficiary beneficiary benefi benefi- ciary was Eddie Dowling Dowlin musical comedy star who got ot Bragg admitted M. M J. J Meehan Mcchan Co had bad received half of the 10 per cent management fee of 5 in addition addi- addi lion ion to commissions of ot This line ine of testimony was related to the tact fact that Richard Whitney president of ot the New York stock exchange tes los Continued on 00 Page Pale HUGE MARKET POOL EXPOSED Continued From Page Pace One- One titled ed before the committee that thal stock specialists were not permitted to palt par par- t in pool pooi operations Meehan was the exchange radio specialist t. t Bragg said he and Ellsworth Ellsworth Ells Ella worth another pool manager were given the other half of the 10 per cent management fee Ice Grays Gray's a ar David Stock s said ld Ellsworth was in Canada and that the counsel had been unable to get him to to testify The committee learned that M M. J. J Meehan Mcchan sailed last night for Europe IDE IDENTIFIES PARTICIPANTS Several corp corporations which participated participated participated in the pool were identified b by The American Brush company was operated by George Sabin Brush brother of oC Matthew C. C Brush he said while white the corporation represented represented rep rep- resented Bragg and himself The Berry Holding company represented a California syndicate and the Briggs Commercial and Development company com corn pany a Cleveland Cle group James McConnochie a member of or it M. M J. J Meehan Co was the n next witness McConnochie was a 3 special agent for the United States treasury in Iii New York for lor twenty three years and nd joined the Meehan firm irm two years ago He said he had no knowledge of or orthe the payment of oC an aggregate of oC 92 to persons who had not slot participated participated in the pool McConnochie said that thal Mrs 1 Meehan wife of ot the tile head ead of oC the firm had made in Radio but that in five other operations she lost Jost an aggregate ate of oC McConnochie said Mrs Meehan had lost in Chrysler in General Asphalt in Simms Petroleum in m International Match and in American Steel Foundry McConnochie l said the firm fum was the specialist st in m International Match and American Steel Foundry stock and that Mrs Mcchan Meehan had lost lostin lostin lostin in spite of that thal connection Esmond OBrien O'Brien a member of ot the M. M J J. J Meehan fix firm and the floor special specialist specialist cial t in n Radio was the next witness OBrien O'Brien detailed the mechanics of or dealing through a specialist and said the knowledge contained in m a specialist special order book was of no advantage to traders OBrien O'Brien denied he had acted for the Radio pool or that he had knowledge o of the of pool orders to buy or orsell I sell He said he had not conferred with his other partners regarding the pool during the period of its operation opera opera- tion |