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12/20/44
FIREWORKS WHEN FCC PROBERS REPORT TO CONORESS JAN. 3
Unlike the proverbial month of March, m^hich goes in like a lamb and comes out like a lion, the House Investigation of the Federal Communications Commission, cerae in like a lion and went out like a lion. During the only supposedly silent part of the hear¬ ings the period during which the public was excluded the reverberations were the loudest.
There is bound to be a continuation of the same when the new' Congress takes up the report wrhich is to be subnltted to them on the opening day ’’Wednesday, January 3rd, The last hush-hush session of the investigation which has lasted almost two years and cost $110,000 was held last Friday and the last public session Saturday.
The final day included testimony regarding the sale of Station WLWL, New York, owned by the Pauli st Fathers to Arde Bulove in 1937 where it was alleged pressure had been exerted to lower the sales price and hasten closing of the deal.
At the meeting of the House subcommittee Friday, they again heard Edward J, Noble, who purchased WMCA from Donald Flarara for $850,000, Mr. Noble said later:
"If my testimony doesn’t vindicate me, then I will have lost faith in the value of the truth. " Mr. Noble told reporters he had conferred wdth Thomas G-. Corcoran, formerly a White House advis¬ or, regarding the qualifications of William Dempsey, an attorney, whom he subsequently retained to represent him in the WICA negoti¬ ations.
At the same time, Mr. Noble said, he asked Mr. Corcoran if he thought "the fact that I had worked" for the late Wendell L. Willkie in the 1940 presidential campaign would be "held against me" by the FCC in considering authorization for purchase of the station.
He quoted Mr, Corcoran as replying:
"No, absolutely not. Forget it. "
Mr. Corcoran, whom Mr. Noble said he had known "for a good many years", testified Thursday before the committee.
Mr. Noble said that in purchasing WTilCA he paid Mr. Flamra "46 times earnings" and that w'hen ne sold it in 3942 to Nathan Straus, New' York City financier, it was for "11 times earnings",
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