.4,…4r40,410 , a 4, TEXAS UNDER A CLOUD by Sam Kinch, Jr., and Dr. Ben Procter STORY OF THE STOCK FRAUD SCANDAL A Full Account of the Stock Fraud Scandal Gov. Peston Smith and His Connection with the Scandal Speaker Gus Mutscher and the House of Representatives The Relationship between the Texas Legislature and the Scandal Presenting many new and hitherto undisclosed facts, this book offers the first full step-by-step account of the Texas stock fraud scandal. Based on official reports and on exclusive interviews, it presents evidence for and against each leading state official and politician, with many startling new discoveries, and with a detailed explanation of how such an event could occur in the Texas political system. Great emphasis is placed on specific recommendations for legislative reform. From the Publisher’s Introduction: The goal of the authors in writing this book, and of myself in publishing it, has not been to deprecate individuals but to point out vitally needed reform. No better way exists to explore the ugly abuse of power, manipulation, and political chicanery in the current Texas political system than to present the history of the stock fraud scandal and those involved in it, followed by explicit recommendations for reform. That this work is a political hot potato is not denied, and it is our hope that its effect will be felt immediately in the present 1972 elections, by the election of candidates dedicated to reform. That the work is a social documentary of our era that will guide future reform efforts and have an impact and be of interest beyond our own time is, however, our deeper hope and wish. It has certainly been the main goal from the very incipiency of the idea for the book. The authors are eminently qualified for this task. Sam Kinch, Jr., a brilliant young political analyst, is Capitol columnist for the Dallas Morning News. Dr. Ben Procter, one of Texas’ leading historians, received his Ph.D. from Har Lt. Gov. Ben Barnes and the Texas Senate How the Present Legislative System Permitted the Scandal to Occur Specific Recommendations for Reform The tenor of the book is neither liberal nor conservative, Democratic nor Republican: it is a frightening expos, but written in a scholarly and objective manner. Fully illustrated, the work is a fascinating, readable account of one of the most incredible events in the history of our state. It is one of the most important books ever written about Texasa book that should have an immediate impact on Texas politics and a lasting influence on all future legislative reform movements. yard and is professor of history at Texas Christian University. In addition to becoming thoroughly familiar with the formidable quantity of public records surrounding the SEC and other investigations, they have recorded hundreds of hours of private interviews with those connected with the case. All facts and quotations presented in this work are backed up by tape-recorded interviews, letters, signed statements, or official public documents. Like most Texas citizens, I followed the events of the scandal in the newspapers on a, day-to-day basis as they unfolded. But the extent of the involvement of our state officials and the breadth and depth of perversion of our legislative system did not hit me with full force until I received the final manuscript of this work. Reading the whole story with all the pieces fitted together for the first time will, I believe, be a shocking experience for any citizen interested in good government for Texas. Austin John H. Jenkins February, 1972 JENKINS PUBLISHING COMPANY JENKINS PUBLISHING COMPANY Box 2085 Austin, Texas 78767 Gentlemen: Please accept my order for copies of TEXAS UNDER A CLOUD at $6.95 per copy. Texas residents add 5% sales tax. Austin, Texas NAME STREET TOWN STATE ZIP
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