Word: bragg
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...Committee called Broker Meehan. He had sailed for Europe the night before, "a very sick man." They also called Pool Manager Bradford Ellsworth. He was reported to be in Canada. Though he had been ill in Florida during the actual operations, Co-manager Thomas E. Bragg confirmed the facts & figures that Counsel Gray adduced...
...before the pool was formed Radio sold at $74, total transactions on the New York Stock Exchange were 98,000 shares. Witness Bragg testified that the pool did not become active until five days later when the price had risen to $91.75. On that day Pool Manager Ellsworth bought 392,000 shares, sold 246,000. During the following week trading continued at a terrific pace, the price pushed up to $109.25 a share. Whipped into a frenzy by the tremendous activity at steadily mounting prices the public stampeded into the market. During the last two days of the pool...
Next in line came Bernard E. Smith and Thomas E. Bragg. Bear Bragg estimated he had been short as much as 50,000 shares at one time, "but right now my short accounts are between 12,000 and 15,000 shares." But far more interesting to the committee than his short operations was his story of a $32,000,000 bull pool in Anaconda Copper just before the 1929 crash...
...ahead and name the others. Mr. Bragg named John Jacob Raskob. chairman of the Democratic National Committee ; William F. Kenny, contractor friend of Alfred Emanuel Smith; William Crapo Durant, onetime president of General Motors Corp.; General Motorsman Frederic John Fisher, and Michael J. Meehan, theatre ticket seller who rose to Wall Street power by riding Radio from $25 a share...
Senator Couzens: How did the operation come out? Mr. Bragg: I lost $400,000. Others may have lost more. Senator Couzens: What representations were held out to get people to join? Mr. Bragg: Possible profit. Counsel Gray: Wasn't that pool formed because of the ability of this group to manipulate the market? Mr. Bragg: I don't think there was any manipulation. Counsel Gray: Oh, be a little frank with this committee. You didn't just take $32,000,000 into the market and then sit down and wait. Tell us some truth. Senator Glass...