Document Type: 
Document Number (FOIA) /ESDN (CREST): 
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Original Classification: 
Document Page Count: 
Document Creation Date: 
December 19, 2016
Document Release Date: 
December 20, 2005
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Case Number: 
Publication Date: 
April 2, 1973
Content Type: 
PDF icon CIA-RDP75B00380R000300090009-5.pdf2.89 MB
Approved For Release 2006/02/09 : CIA-RDP75BOO38OR000300090009-5 THE EVENING STAR DATE, 7 3 PAs3E J ITT's Chief Can't Recall Chile Offer By JEREMIAH O'LEARY Star-News Staff writer ITT Chairman Harold S. Geneen today told Senate investigators he had no recollection of offering a financial contribution to CIA agent William V. Broe for support ofa democratic candidate before the 1970 Chilean election bu "accepted" that he might have done so. However, Geneen acknowledged directing that the State Department and Dr. Henry A. Kissinger be informed that ITT was willing to assist financially in any U.S. gov- ernment plan to protect American investment in Chile aft- er Marxist Salvador Allende's election seemed certain lat3r that year. Geneen's testimony today before the Senate Subcom- mittee on Multi-national Corporations drew a sharp dis- tinction between his July 1970 meeting with Broe in Wash- ington and ITT's decision to "risk reasonable additional funds" in September when Allende appeared assured of the presidency. The kind of U.S. government plan ITT was willing to support financially, Geneen testified, "would offer Allende a quid pro quo for priceeding with nationalization in a manner that would privide for a long-term recovery of U.S. investments. Of course, our thinking was very preliminary and we had no specific plans but we did think that some socially constructive joint private industry and govern- ment projects could be part of the overall plan. "SUCH A PLAN might well envision the willingness on our part and others risking additional reasonable funds in order to safeguard the very large amount which were at risk." "The amount of up to seven figures," Gennen said, "was intended to show a serious intent and to gain serious attention from the government." Approved For Release 2006/02/09 : CIA-RDP75BOO38OR000300090009-5 Approved For Release 2006/02/O%CIA-RDP750038OR000300090009-5 NEW YORK TIMES DATE Pr,R. PAGE Geneen Gonc ides I.T.T. Fund Offer To Block Allende By EILEEN SHANAHAN Special to The New York Times WASHINGTON, April 2- Harold S. Geneen, chairman 0 TntPrnRfinnn1 Te ep one and Telegraph Cnr= oration, said today that he rlid not recall having offered a "sub- stantial" sum of money to tli? central Int lligence Agen- cy in 1970 to help or . ent the elpctia_n of Salvador Allende Gnccans ac precidento-fChile. But Mr. Geneen told a Sen- ,jte subcommittee that since lie had "no recollection to the contrary." he would arc~nt the testimony of William V. Broe, a C.I.A. official w o said he had b= affgreA the money in 1970. At the time, Mr. Broe was the head of the intelligence agency s clan s. tine aparation,s ii Latin A,M ca. Mr. Geneen testified about the events of 1970 and 1971 before 'the subcommittee on multinational corporations of the Senate Foreign Relations Committee. He was the final witness in the first phase of the subcommittee's inquiry into the actions of thes:a lar7;e corn panics, which operate, aU. oven the world, and the extant to which they may influence, United States foreign joky. Mr. Geneen said that, assum- ing he did make the offer of cash to Mr. Broe, it was prob- ably an "emotional reaction" to learning from their conversa- tion that the United States was planning no action to attempt to defeat Dr. Allende, who is a Marxist, and who had cam- paigned on a platform of na- tionalization of basic industries. Mr. Geneen said that the hands-off policy of the United l States in 1970 represented al reversal of a policy dating back 1 14 years-"the policy to main-I tain a democratic government in Chile," through large-scale i 1 He said he was particularly upset because he, with other American businessmen, had { been encouraged to invest in Chile as part of the United Slates GeoernsneTi s program of helping to develop the coun- try and keep it democratic. What he heard from Mr. Broe when they met in July, 1970, ,was different from anything I business had heard before," Mr. Geneen said. Action Defended rSenpe defended his 4ct4n ing two months ago, but that jl_e,__,probe ended when withdrew a state i WiL-4 rn e made earlier to th rabottt the matter. ,Wilkinson said yesterdayI that he would not comment on whether he had given any statement to the FBI.'He ac- knowledged having had busi- ness dealings with Bailey, but; would not comment on whether Bailey was involved in the alleged plot. Bailey could not be reached for comment. alleged bugging- oc- ed during a time when, ar Committee visited i rs. Beard to cues io'w tile, the Committee was ci nsider- jue the nomination of Richard; Kleindienst to he Attorney 9su?ral. A key issue in the hearing was the Justice De partment's action in the ITT settlement. Approved For Release 2006/02/09 : CIA-RDP75B0038OR000300090009-5