America 1919

Chapter 806: 276, Teapot Dome Scandal Breaks Out_2

In the process of the investigation, even being in the United States, it took Harry Sinclair several years. How long did it take?

It wasn’t until Herbert Hoover succeeded Coolidge as President of the United States, as the Democratic Party’s power grew stronger, that Herbert Hoover reluctantly agreed to the trial of this matter.

The oil field lease contracts signed by Sinclair Oil Corporation and Pan American Petroleum Company with the government were illegal, thus null and void. Secretary of the Interior Albert Furr was imprisoned for bribery and sentenced to one year in prison.

As the heads of Sinclair Oil Corporation and Pan American Petroleum Company, Harry Sinclair and Edward Doheny, however, managed to remain above the law.

It was not until 1929 that the Senate sentenced Harry Sinclair to prison on dual charges, while Edward Doheny remained unpunished!

Laze Madison asked Archibald Roosevelt: “What if Harry Sinclair doesn’t leave the United States?”

Archibald Roosevelt replied coldly: “I naturally have ways to make him leave the United States, even unwillingly!”

Understanding the implication, Laze Madison did not inquire further!

“What’s the current stock price of the company?” Archibald Roosevelt did not wish to elaborate on the matter and shifted to asking Laze Madison about the stock price of Sinclair Oil Corporation.

Previously, the stock price of Sinclair Oil Corporation soared due to the rights to develop the Baku Oil Field.

But now with this scandal emerging, it would be impossible to say that it hasn’t affected the stock price of Sinclair Oil Corporation!

Laze Madison called his secretary for an inquiry, after which the expressions on the faces of both Laze Madison and Archibald Roosevelt in the office were solemn.

Clearly, the impact of this scandal on the stock price of Sinclair Oil Corporation was colossal!

The external world has formed a consensus: Sinclair Oil Corporation not only risks losing the deal with the Soviet Union concerning the exploitation of the Baku Oil Field but could also lose their core oil field, Teapot Dome oil field.

The loss of these two oil fields has led to a significant downturn in the stock price of Sinclair Oil Corporation.

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“And moreover, there’s a certain discussion going on…”

The secretary cautiously spoke.

“What discussion?” Archibald Roosevelt asked impatiently.

“There’s a rumor outside that Donnie sold his shares of Sinclair Oil Corporation because he had prior knowledge of this affair and that’s why he exited at the peak of the company’s stock price!”

The secretary carefully answered.

Archibald Roosevelt immediately turned to Laze Madison, skepticism in both their eyes. The event was so sudden they had nearly forgotten about Donnie. Hearing the secretary’s reminder, they began to ponder if this affair had any connection to Donnie at all!

“It shouldn’t!” Archibald Roosevelt analyzed: “It’s not yet clear whether this situation is beneficial or harmful to Donnie. Moreover, given his relationship with the Harding Administration, he should not have acted in this way!”

Donnie’s Pandora Oil Company’s oil fields were minor wells around these three oil fields. In this affair, Donnie not only collaborated with the United States Navy but also had contracts with the three major oil companies. If the government took back the exploitation rights for the Teapot Dome and Elk Hills oil fields, then Donnie’s Pandora Oil Company would also lose the rights to exploit the small wells surrounding these two oil fields.

Furthermore, everyone was aware of Donnie’s relationship with the Harding Administration, and this incident would undoubtedly impact Harding. If Harding’s presidential campaign were to be affected by this affair, the loss to Donnie would be even greater!

This was the fundamental reason Archibald Roosevelt analyzed that Donnie was not involved in this affair!

“If that’s the case, then Donnie is truly lucky this time!” Laze Madison agreed with Archibald Roosevelt’s analysis, somewhat resignedly said.

Previously, everyone claimed that Donnie’s sale of Sinclair Oil Corporation stock would be the most foolish decision in his business career, yet just one week after the sale, the scandal erupted in the United States.

And the stock price of Sinclair Oil Corporation began to slide…

“Who can tell me, how did Donnie predict this turn of events, or did he already know the news in advance?”

Such discussions also commenced on Wall Street.

Everyone who firmly believed that Donnie had made a mistake in his decision felt as if their faces were being loudly slapped, stinging!

“It’s no use to consider these things now, what we need to do is to quickly sell the Sinclair Oil Corporation stock and cut our losses in time!”

“I do want to sell, but there have to be buyers, right?”

“I think Donnie couldn’t have predicted this affair beforehand, his current behavior shows that he was using the sale of Sinclair Oil Corporation and Breton Bank stock to raise funds for his own Venus Bank, it just happens that the scandal broke out.”

“There’s trouble!”

Amid such discussion, suddenly someone exclaimed.

“I recall that Breton Bank had a deep cooperative relationship with Sinclair Oil Corporation, it seems that when Sinclair Oil Corporation and other oil companies were funding the establishment of the Hessite Petroleum Transport Company, Sinclair Oil Corporation took a loan of 8 million US dollars from Breton Bank!”