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COMMISSION AND THE POST OFFICE

DEPARTMENT IN FLORIDA

HEARINGS

BEFORE A

SUBCOMMITTEE OF THE COMMITTEE ON THE JUDICIARY

UNITED STATES SENATE

SEVENTY-NINTH CONGRESS

SECOND SESSION

PURSUANT TO

S. Res. 35 A RESOLUTION TO INVESTIGATE CERTAIN ACTIVITIES OF THE SECURITIES AND EXCHANGE COM

MISSION AND THE POST OFFICE

DEPARTMENT IN FLORIDA

PART 2

JACKSONVILLE, FLA., DECEMBER 27 AND 28, 1946 WASHINGTON, D. C., JANUARY 6, 7, 10, 17, AND 30, 1947

Printed for the use of the Committee on the Judiciary

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COMMITTEE ON THE JUDICIARY

(Seventy-Ninth Congress)

PAT MCCARRAN, Nevada, Chairman CARL A. HATCH, New Mexico

ALEXANDER WILEY, Wisconsin JOSEPH C. O'MAHONEY, Wyoming

WILLIAM LANGER, North Dakota HARLEY M. KILGORE, West Virginia HOMER FERGUSON, Michigan ABE MURDOCK, Utah

CHAPMAN REVERCOMB, West Virginia ERNEST W. MCFARLAND, Arizona

KENNETH S. WHERRY, Nebraska BURTON K. WHEELER, Montana

E. H. MOORE, Oklahoma JAMES 0. EASTLAND, Mississippi

Eva B. ADAMS, Clerk
J. G. SOURWINE, Counsel

SUBCOMMITTEE ON SENATE RESOLUTION 35

PAT MCCARRAN, Nevada, Chairman JAMES 0. EASTLAND, Mississippi

KENNETH S. WHERRY, Nebraska

COMMITTEE ON THE JUDICIARY

(Eightieth Congress)

ALEXANDER WILEY, Wisconsin, Chairman WILLIAM LANGER, North Dakota

PAT MCCARRAN, Nevada
HOMER FERGUSON, Michigan

HARLEY M. KILGORE, West Virginia
CHAPMAN REVERCOMB, West Virginia JAMES 0. EASTLAND, Mississippi
E. H. MOORE, Oklahoma

WARREN G. MAGNUSON, Washington FORREST C. DONNELL, Missouri

J. WILLIAM FULBRIGHT, Arkansas
JOHN S. COOPER, Kentucky

J. HOWARD MCGRATH, Rhode Island
J. G. SOURWINE, Counsel

SUBCOMMITTEE TO REPORT ON INVESTIGATION UNDER S. Res. 35, SEVENTY-NINTH

CONGRESS

PAT MCCARRAN, Nevada, Chairman HOMER FERGUSON, Michigan

JAMES 0. EASTLAND, Mississippi E. H. MOORE, Oklahoma

II

,

ACTIVITIES OF THE SECURITIES AND EXCHANGE COMMISSION AND THE POST OFFICE DEPARTMENT IN FLORIDA

FRIDAY, DECEMBER 27, 1946

UNITED STATES SENATE,
SUBCOMMITTEE OF THE COMMITTEE ON THE JUDICIARY.

Jacksonville, Fla. The subcommittee met, pursuant to call, at 10 a. m., Friday, December 27, 1946, in courtroom No. 2, at Jacksonville, Fla. Senator Carl A. Hatch (acting chairman) presiding.

Also present:J. G. Sourwine, counsel to the committee.

The CHAIRMAN. The committee will be in order. Are you ready to proceed, Mr. Sourwine?

Mr. SOURWINE. Yes, sir.

The CHAIRMAN. We might as well proceed. We have some witnesses here.

There is no use in waiting. Mr. SOURWINE. Mr. Mansfield, who was subpenaed as a witness, was in the room a moment ago but he went out.

The CHAIRMAN. Which witness did you wish to start with?

Mr. SOURWINE. I want to start with Mr. Jervey and Mr. Ackerman. They want to get away.

The CHAIRMAN. Let the record show that this hearing is being held in the city of Jacksonville, today, pursuant to authority contained in Senate Resolution 35. Senator McCarran, of the Senate Committee on the Judiciary, the chairman of the subcommittee, is unable to be present and I am presiding today at his request, in order that the testimony of these witnesses may be taken and the record made.

Mr. Sourwine, counsel for the committee, is present and will proceed with the examination of the witnesses and the introduction of such testimony as he may desire to elicit.

You may proceed, Mr. Sourwine. Do you want the witnesses sworn ?

Mr. SOURWINE. Mr. Chairman, the witnesses have been sworn in the previous proceedings. I believe it would be advisable. May the record show the names of those witnesses who were subpenaed and the situation in regard to them?

The CHAIRMAN. Let the record show the names of those subpenaed and the names of those who are here or not here.

Mr. SOURWINE. Subpenas were issued for Mr. Edward Ball, Mr. Giles J. Patterson, Mr. M. H. Ackerman, Mr. T. H. Jervey, Mr. Walter Fuller, Mr. Clyde C. Pierce and Mr. E. J. Mansfield. I believe Mr. Ackerman and Mr. Jervey are here. Mr. Pierce is here. Mr. Patterson is here. Mr. Fuller has not yet been served. We are hopeful that we can get Mr. Fuller for tomorrow.

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