National Affairs: Investigations

The chief events of last week in two leading Senatorial investigations (naval oil leases and Mr. Daugherty) were:


¶An accountant of the Federal Trade Commission testified that on examining the books of W. H. Hibbs & Co., brokers, he had found three accounts: W. W. Spaid No. 4 (belonging to Mr. Daugherty), W. W. Spaid No. 3 (belonging to Jesse Smith) and W. W. Spaid No. 2 (belonging jointly to Smith and Daugherty). The books showed that Mr. Smith had made a profit of about $3,700 in Sinclair and Doheny stock.

¶Clarence C. Chase,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!