MCCONE MADE BIG WW II PROFITS

Document Type: 
Collection: 
Document Number (FOIA) /ESDN (CREST): 
CIA-RDP64B00346R000400030105-3
Release Decision: 
RIFPUB
Original Classification: 
K
Document Page Count: 
1
Document Creation Date: 
December 15, 2016
Document Release Date: 
April 15, 2004
Sequence Number: 
105
Case Number: 
Publication Date: 
January 11, 1962
Content Type: 
NSPR
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PDF icon CIA-RDP64B00346R000400030105-3.pdf149.58 KB
Body: 
' The Washl>d>~~-'urOerry-o-.onnfiu5iu5 ! one Made Drew Pearson confirmation As chairman r of r Commi i E the At gy ne om s- c ith eight high officials Sion on July ; 1958, he let slip fired from the 1 isenhower Ad. !one intereattlig fact which }ministration for conflicts of; puts him-in a position of hav, interest, It would seem manda-lIng a possible conflict of in- tory that both s ,'- terest? Answering a question Democrats and from Sen. Clinton Anderson close look at ,relationships with Kaiser, 1naa the conflict-of? much as. a jointly owned coal before appoint- owned by H e n d y (Joshtf ar 'firming new owns all the stock) .and 50 peg men. , Mo' John A . Pearson Cone, picked to replace Allen 'Dulles as head of the vitally important Central Intelligence Agency, has a record which is Interest- hig on three counts: . 1. He has made more money oyt of Uncle Sam on war con- tradts than perhaps any other man now working for the Gov- ernment. 2. He has had a continuing close financial connection with the Henry J.- Kaiser interests to which, as Under Secretary for Air, he gave a 'very inter- esting quickie contract. for making-Flying Boxcars (C-119) in the record time o>yy 10 days, at a price three times greater than that of Kaiser's competi- tor, Fairchild. . 3. He is shrewd and able, which accounts not only for his capacity for. making money but for his agility in keeping high Government positions sunder both Republicans and Democrats. When McCone Dame up for cent is -owned , as as p Iby Ks of tthe`California Shipbuilding nge; -?. organized about one year Aluminum, hx contract-to transport t Kaiser' Kaises e before Pearl Harbor, when bauxite from Jamaica to Baton` Todd Shipbuilding put. up Rouge -, ~,000, with another $50,000 Yet when McCone was be; coming from the Betchel?Mc? Ing investigated by the late Caine-Parsons Company, Henry Sen. Styles Bridges (R.-N. H:) Kaiser, and other companies and the Senate Armed,,Serv4 asetoclated 'with Kaiser and lees subcommittee regardiag Bettchel?MeCon a in ? building his quickie C-119 -contract, tat 1 Kaiser, he claimed:- '.'1 navel henomenal War Profits had no business relationship'' with Kaiser for yeafa.,, lulaw combine mode a kill. *" willing to pay any price __ v~.___ and the Todd-mo' The statement therefore:,t'h;f for tCnem, C combine 4001C 'All to, ... 1044 Qut.f contsl b I 1dnahin be'i tat a0 l ras`possible for Kaiser planation;' e 'in? on McC r"Awlih him. one, have He 'web~moa to testily "The and walk a muitimUWon-doilarjCalitornl s tpbuildIng. Corp. aonaenaL war profits ?7 Y7 a00 shares of ds =s o . e an Y both McCo set*hen they were ship capital at fiat value of $100 _coflafsted ..of $ 0,000 in- th dt e n& a investment of $1000000 into and .$0I b06 Inves'ted by 10 a profit. qt $",4M,000. companies' lia with Hen J' Keiis(! ' . t %M one was then presiden "About ,,year ter, n Feb. . 19, 1048, a;m ti ben wa: called o went to Fes out :arid -left the West Coast field to Kaiser and McCohl1 Nonetheless, Senator,,Bo showed that McCone vet amazing lengths to ewlteh ?Aii ordi.ng to the sworn of a C-119 Flying Boxcar e'nn of the General Accounting Of- tract away from Fatrchii 'in fice before the House Mer- Hagerstown, Md., to $ 'gat chant Marine Committee In Willow Run, Mich., ate 'lh: .~4. figure which turned.outtt' be "It would seem when profits $1,339,140 per plane #s; a This, concluded GAO execu- tive Casey, was, a profit of $1,000,000' on the,,, investment of $100,000 within one year-all at the expense of Uncle Sam`s ..The blerpaiteterahip ~~ ? bgtw Kaiser slid'McC4rie cetatiatie}d i ; dlfbd lip .-a war profit of ,+f7E,000 and, . according to ' McCbnes own testimony, the association is continuing -in, the form of a Joint shipping.line today. In between MoCone, as. Under Secretary' of the Air - Force, helped awing one" of of 'the juiciest airplane coefrstets 'in history to Henry' Kaiser. CoPYHOt,'iNNS,.sell Vu to.t., fne.? Approved For Release 2004/05/05 : CIA-RDP64B00346R000400030105-3 hour efor- satLfactocJ- ex-