316. Memorandum for the record, October 91

[Facsimile Page 1]

Meeting attended by the President, the Attorney General, Secretary Ball, Mr. Bundy, Secretary Martin of State, and Mr. McCone at noon on Tuesday, 9 October 1962

1. McCone stated the position of Senator Russell as developed in his talk with Mr. Warner, and recorded in the Warner memorandum. The President asked that McCone see the Vice President and then if the Vice President feels it advisable arrange a meeting with the President, Vice President, and DCI and Russell the following day.

2. The status of the financial transactions as discussed with Donovan on Sunday was thoroughly reviewed and understood by all. It was agreed that the U.S. was really in the role of a guarantor and in all probability, the U.S. position must ultimately be made public. Decision on this was not reached.

3. McCone reviewed in detail the discussions with Donovan on Sunday and with McKeen and Connor. There followed an extended discussion of possibility of using tax deductible contributions as a means of reducing the U.S. government commitment from appropriated funds.

4. The President asked McCone to contact Mahon and Ford. This was done and is covered in a separate memorandum.

5. McCone met with the Vice President on Monday evening. The Vice President urged that an agreement be reached with Russell; said that if this is not done, Russell had the power to destroy the DCI and CIA; that the Vice President would not support the deal unless Russell [Typeset Page 1033] was on board, that the Vice President felt very serious political implications and these would be most serious in Texas; and finally agreed to go along if Russell went along.

John A. McCone
  1. Summaries of meetings with the President and Vice President on the Donovan project. Secret. 1 p. CIA, DCI (McCone) Files: Job 80–B01285A, Meetings with the President, 1 July 1962–31 December 1962.