Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-03-22
IN EMPHATIC DENIAL
Of the Oil Consolidation Story Sent
From Parkersburg,
INTERESTED PARTIES AT SIS
TERSVILLE MOST EARNESTLY
DENY THAT ANY COMBINA-
TION HAS BEEN ENTERED IN
TO, AND GIVE THE FACTS IN
THE CASE.

Sistersville, w. Va, March 21-In
this mornings Register there appear
ed a special telegram from Parkers-
burg, which stated that the negotia-
lions had been closed whereby several
oil companies operating in the Sisters
vile field, among which were men
toned the Henry & Macdonald Oil
Company, the Fearless Oil Company,
and the Henry Oil Company, had sold
out their interests to a combination
which was the nucleus for one Of the
largest Independent concerns which
has ever been formed in the history OF
the oil business. There is not the least
semblance of truth in the story, with
the exception of the statement that
there had been some transfers of stock
in the Henry Oil Company within a
short time
The offices of the three companies
mentioned are in this city, and few
days ago when it was reported about
this city that such deal was in an
ticipation, your correspondent asked
the representative of one of the COM
panies what there was in the story,
and that party stated emphatically
that there was nothing and on that
ground the story was not sent out, as
it was believed to be unfounded.
1t is true that during the past couple
Of weeks there has been some transfers
of stock in the Henry Oil Company,
but they were not transferred in the
manner stated in the article published
yesterday morning. The stock which
was disposed of in that corporation be-
longed to the estate of the late George
W. Henry, who at the time of his death
and from the inception of the company,
was it's president, and of his brother,
r. L. Henry, who is president and
general manager of the Henry & Mac
donald Oil Company.
Another misstatement in the article
was that the new combination was as
ISOLATED with the Producers Pipe Line
Company, and that the capitalization
of the combination would be about five
millions of dollars. Anyone who knows
anything about the oil business at all,
and especially about pipe line COM
panies, would know in second that
there was no truth in this statement
The Producers Pipe Line Company as
it stands at present is capitalized at a
much larger figure than that which was
mentioned in the article, and even if it
was not the statement that it was the
intention of the combination to buck
the Standard seems even more ridicu-
lous than it does with the statement as
it appears in this mornings paper.
Robert L. Henry, of Chicago, presi-
dent and general manager of the Henry
& Macdonald Oil Company, who is in
the city at present looking after the in
terests of his company, was seen by
your representative here this morning
and he was highly indignant about it.
He claimed that it was the most SEN
sational and unreasonable thing of the
kind he had ever heard of.
"The article which appeared in the
Register" said he, from the CORES
pondent at Parkersburg, is ridiculous
in the extreme, and more false state
ments were made in it than Munchau-
sen would ever have dared attempt, in
fact Munchausen is the personifcation
of truthfulness compared with the cor
respondent of your paper at Parkers-
burg. About the only truth there is in
the article is that the names of the
corporations which were said to have
been in the deal were correct, but these
corporations have not combined or con-
solidated 1t is true that a majority of
the stockholders, including the Henrys,
have sold their entire stock in the
Henry Oil Company, but outside of this
grain of truth the remainder of the
article is pipe dream such as could
have only been INDUCED in by the most
inveterate devottee of dopes.
THE Henry & Macdonald Oil Co. has
not sold out, nor have the stockholders
ever been approached on the subject
of a combination. 1t seems to me that
before publishing such rot in our paper
that the story would have been inves-
tgated by having some OF your repre-
sentatives see the officers of the COM
panies mentioned. Such stories are
calculated to make all parties alleged
to be connected with such a deal, ap-
pear ridiculous, and not only that but
it is also calculated to do those inter
ested in the various companies an ir-
reparable injury.
THE article is a most sensational one
in the extreme, not only in regard to
the reported deal, but in regard TO the
amount of money involved as well as
the amount of production attributed TO
the different corporations which are
alleged to be in the deal. | hope you
will make a correction of the article"
Mr.. H. C. Speer, OF Chicago, presi-