Senate Select Committee on Presidential Campaign Activities, June 12, 1973 (1/2)
Senate Select Committee on Presidential Campaign Activities, June 12, 1973 (1/2)
[00.58.10] Senator MONTOYA. Did You ever indicate to him that it was his own money that, you were giving back? Mr. STANS. Well, it really wasn't his own money It, was money entrusted to him but, I am not sure whether I told him that I at that time. I think I did but he knows it now. [Laughter.] Senator MONTOYA. Why would he use the. plea that this request was coming from high authority in the White House, if he was reclaiming his own money? Mr. STANS. 'Well, he wasn't reclaiming, Senator, he was not reclaiming his own money. It happened that that was about the only money that, I could put my hands on to help him meet the needs that he had expressed, and I was willing to give it up because I wasn't going to use it for the purpose for which I had originally received it. Senator MONTOYA. Let, us go into the $30,000; where did you get, that? Mr. STAINS. On the same day. a Philippine national had been in my office and said he was an acquaintance of the President. Senator MONTOYA. Who Was it? Mr. STANS. I can refer to a paper and give you his name. The Honorable Ernesto V. Lagdameo. He is a Philippine businessman. Senator MONTOYA. What does he do? Does he deal in sugar? Mr. STANS. Well, it does not sound like it from the name of the company. He is chairman of the board of' Sanitary Wares Manufacturing Corp.--Wares (W-a-r-e-s). I take it to be a plumbing supply firm or something of that, type. Senator MONTOYA. Quite ironical, wouldn't, you say? [Laughter.] Mr. STANS. I think -Mr. Lagdameo is a very innocent party here. He came in to see me, said that he was an acquaintance of the President, and was prepared on behalf of himself and some of his friends, to make a contribution to the campaign if it, could be legally received. Senator MONTOYA. And what about the other friends? Who were they, the other Filipino friends? Mr. STANS. They were two of his associates the same company. Senator 'MONTOYA. Do you have their names? Mr. STANS. I have them here. Mr. Jesus Cobarrus, Sr.---J-e-s-u-s C-o-b-a-r-r-u-s, Sr.--who is With the same company; and Mr. -I can't, pronounce Spanish as well as you can, Senator-Eugenio Senator MONTOYA. Eugenio? Mr. STANS. Eugenio Lopez, Jr. Senator MONTOYA. All right. Mr. STANS. There was at that, time considerable doubt as to whether we could receive contributions from foreign nationals. Back in the 1968 campaign, we had opinions of counsel that it was perfectly proper to receive a contribution from a foreign citizen and we did receive, some contributions, of that nature in 1968. In 1972, early in the campaign, we also received a, few, and then questions began to arise as to the, interpretation Of the Corrupt Practices Act and whether or not we could receive items of that, kind. So when this money was offered to me, I took it contingent upon determining that, we would accept it. And I got, an opinion of counsel shortly after, the counsel for the committee who succeeded Mr. Liddy, expressing the opinion that, we could not accept money from a foreign national. SO I arranged with -Mr. Fred LaRue to give $30,000 back to Mr. Lagdameo and his associates. Since then, and this is more irony, Senator, I have learned that the Department of Justice has held that it would have been perfectly proper to accept, a contribution from a foreign national so long as he is not an agent, of a foreign principal. But that is the source of the $30,000. Now, I had not, accepted the money on behalf of the committee. I Was holding it as his agent or in escrow, or whatever the legal term might be, to determine whether or not I could accept it on behalf of the committee. Senator MONTOYA. Did you finally get the money from, Mr. LaRue? I Mr. STANS. I got the money from Mr. LaRue, and he arranged to give it back. Senator MONTOYA. Let. me ask you this question: Did Mr. Sloan make periodic reports to you about, moneys which he would disburse? Mr. STANS. I think you are referring to disbursements in cash, are you, Senator? Senator MONTOYA. Yes. [01.04.11--TAPE OUT]