Show TALES OF HIGH FINANCE TOLD IN COPPER PROBE Senate Committee Hears Stories of Huge Profits Prof its in Deals J Br SJ Press WASHINGTON June 4 New 4 New tales of high finance describing how off officials i daIs of t the Anaconda and other copper copper copper cop cop- per companies made huge paper prof profits its through dealing in the stocks of at their companies on which they had inside in information were given t today to day to the senate banking The testimony included an n account of a wash sale of the kind that is forbidden by stock exchange rules which boosted the price of Anaconda and allowed the officials to sell at a profit William A. A Gray committee counsel coun sd sel charged that John JohnD D. D Ryan chair chair- man man of Ana Anaconda onda Cornelius F. F Kelley Kel Kel- Kelley ley Icy president H. H F. F Guggenheim a a large stockholder in the Chile Copper company and the National City company com corn pany made a million and a quarter dollars by buying up stock in the Chile company when they knew w it was to be converted into Anaco Anaconda da stock TELLS OF LOSS JOSS Ryan Ran on the stand contended he had taken a serious loss because he heIs heis heis is still holding Anaconda stock and it way down Guggenheim sold his stock and made Gray said Ryan acknowledge if he be had be been n smart enough to sell he would have made the same Gray said the same group with W. W E. E Thornton president of or Green Cananea Copper company in place of Guggenheim made in the same way on transfer of Green Can Can- anca anea stock for Anaconda was interrupted at one point when Kelly sitting next to Ryan but not a witness Charged that Gra Gray was trying to ride the witness for the benefit of the gallery Members of the committee quickly resented his charge and threatened to put him on the stand for question- question Ing Lag |