Albuquerque evening citizen. [volume] (Albuquerque, N.M.) 1905-1907, 1907-05-04
Promoter Sold 81 100000 OF
Stock For 100000 and
Gets the Money.
DREAM is NOW Being
EXPLOITED BY GOVERNMENT
Scheme Under Indictment Great
est SWindle Ever FlOdted
In Kansas.

Kansas City, May AFTER selling
over $1,000,00 worth of stock in his
Uncle Sam Oil & Rening Co.." Harry
II. Tpcker. Jr., the boy promoter of
Kansas, will have to answer for his
| methods to Uncle Sam himself
He has been indicted in the federal
court for fraudulent use of the malls,
but is out on $4,000 bond, and is 10
be tried in October. In the meantime
| he is going right ahead with his oper-
ations; still backed, apparently, by
| the 10000 or so farmers, working
\ men, dressmakers, school teachers,
widows and others all over the Unit
ed States, who were induced by
fuckers attractive promises to invest
| their savings with him.
Tucker dismisses the charge
against him as a fight of the lion and
| the mouse" He says it is the result
of the ennnity of the great octopus,
! the Standard OIL company" A meet
| ing of stockholders in his office not
long ago called an attempt to throw
the concern into the hands of a re-
ceiver as the work of 'iharpies" and
'conspirators.'
Antitrust enterprise.
1t was upon opposition to the
STANFORD Oil trust that Tucker made
his campaign for the hard-earned
Sam company rode to affluence upon
the wave of indignation against the
oil trusts throttling of Kansas.
Tucker, a reporter upon an obscure
newspaper in a small Kansas town,
rose in three years to the head of an
| independent oil company with a cap
| ital stock of $17,OOO,0O0. He began
by advertising boldly, lavishly. 1t is
estimated that 1t cost 25 cents to
| bring each dollar received for stock
subscription.
Bond Issue Added.
It was after recent bond issue of
| $1,000, 900 that fuckers prosecution
was commenced He had succeeded
! in selling $6O,000 worth. He had
! advertised all along that there would
| be no bond issue, and, therefore, no
chance of the octopus gobbling It.
However, the advertisements were OF
the Uncle Sam Company of Arizona.
The bonds were issued by the Uncle
Sam Company Of Kansas, which re-
| Gently leased the other Uncle Sam
company. Tucker is the "whole
| thing" in both companies. The new
company has $4,000 capital stock,
the majority held by Tucker.
Dividends TO Order.
In his advertisements Tucker
! painted glowingly the prospect of get
| ting rich bucking Standard Oil. He
at first sold his treasury stock at four
cents a share. Everybody being
"agin" the Standard OIL he had SYM
pathy with him from the start. The
sporadic investors all over the coun-
| try never coughed up more freely for
any get-rich-quick scheme than they
did for the Uncle Sam Oil & Refining
company stock. The dreamy-eyed,
sangune Kansas youth found the re-
turns just to his liking. He kept
on advertising, only more so. He soon
had money enough together to be-
gin construction. He later felt free.
also, 10 announce that dividends were
soon coming. His was one of the
most striking examples of early divi-
dends advertised in advance to boom
the sale of stock. In the spring OF
1906 he advertised that on August i
Uncle Sam stock would jump from
ten cents a share in the market to
forty cents.
Gives Himself Control.
Back in 1904 Tucker, then an or
dinary non-affiuent newspaper man
at Cherryyille, Kan, acquired ma
jority of stock in the Publishers Oil
CO., OF that town, which was then
crazy over oil. Crude oil went down
and the concern became unproht-
able. Then Tucker had the Uncle
sam idea. He incorporated for $780,
600 900 in Arizona, with Jas. Inger-
soil, j. II. Ritchie and ;. Cooper
Fifty million was too huge, so the
stock was reduced to $10,000,0O0, par
value 81 a share. One million shares
were preferred stock, with a voting
power Of eight TO the share. The re-
naming 100000 shares were COM
mon stock, with one-half vote TO the
share. Tucker took all the preferred
stock, charging himself for II $4,000
on the books of the company. This
gave Tucker control by 100000
| votes against a possible 100000.
Another dividend was announced
for December 20, 1906. It came in
the shape Of checks good 151 days
from date He offered to take these
checks i'm part payment for more
stock.
Sales and Dividends.
In fuckers statement of receipts
and expenditures he shows sales Of
oil totaliug $7O,4S2. He shows that
crude oil purchased and royalties cost
him $55,SS3. With no cost for labor.
or loss by refining. the profit indicated
would be $l4.699. He admits paying
cash dividends of S10,5SO, and giving
dividend checks for. over $1,000.
These latter he marks in his state
ment Endorsed back TO company"
In his bond offer Tucker estimated
the value of the tangible properties OF
the Uncle Sam company at $4,000
900. This includes three rehneries,
a 140-mile pipe line and 1,1OO acres of
oil land in Indian territory and 6S
distributing stations. He wanted the