'The Finance Corporation requested Pierce & Ca. repu "wilt carey' several days' notice before drawing stocks selling between G$3 and GS, fon the letters of credit. No monies Provided amount does not exceed 10 were ever drawn under those loiters, percent. (oral mirker value long, and. bot letters were in existence position, when the Finance Corporation closed Dr. Sellett: So that, after Mar.
6, 1538 any shares which wore selling) M, G00t™ fis doors. The margin account of the The margin account of the] above G$8 the Finence Corporation were permitted to hold on mar Tu other words, if the Finance Corporation wished to purchase a share worth G$4, they could do so ~y pul-ting up Gsl2—Yee.
So that the Finenee Corporat. a would be pertaitted by you, on March 15, 1935 fo issue a purchase order fof Electric Bond & Share on martin, very closely, daily, and there "quite afew" calle for margin in 1834, and uring the Fast two months before the losing down on tke business of the Finance "Corporation there were several "ealls™ for more margin, ["Since your arrival from the US.
Shanghai, have you ever spoken either of these defendant Not to Mr. Raven, but Mr.
Brows Jcame to the boat and spoke to me: hie also telepkored and asked me to the races sharily after I arrived, bul Tideclined stating that I was a wiiness {for the Government in this ease, and that 1 preferred not te be seen in his company until after the ease was over. During my conversation wiis Bit. Brown, he knew quite well that I Was ached to come og a witness to) Shanghai on behalf of the U: S: Gov:
Crostexamined by Mr. Franklin, witness admitted that he was asked by a. member of his firm, when leav-ug San Francisco, to post a letter 'o Mr. Brown, which he did. He -hac no Knowledge of its contents and was not aware that it requested Mr. Brown, to get Into touch with witness. with view to his assisting in straighten you had drawn against these letters ate. I take it that, of credit on May 24, instead of there account be "long" with you?- that expression doesn't only refer to margin account stares: the expression "on hand" or "long" embraces all shares. The A.O.F. Corporation would] be entitled on sething their debit Dalance with us, to all shares that] were being held in our name, or the name of New York stockbrokers, Tt would" not include "non-negotiable"
Text read from the printed page and cleaned; old type leaves the occasional error.