The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-07-23
Send an Agent to Tour Kansas
to Gather Data.
STORY OF ANHEUSER.
Spends Two Weeks Searching
Records for Evidence.
Thinks by Careful Management
1t Will Pay Out.

Kansas City, Ran, july w.
Anheuser of Omaha has returned to his
home. He has spent two weeks in au-
ton,obiles, buggies ard on the trains of
Kansas looking up the affairs of H. H.
Tucker and the Uncle Sam OH company.
This was done i'll the interest of Omaha
creditors.
According to the statements male by
Mr. Anheuser after investigating the
case in detail, the South Sea bubble was
child's play compared With the plans of
young Mr. Tucker.
The story has been told in court of
the development of the Uncle Sam com
pany, but it requires some analysis to
bring the points of the deal to light
After failing to make good" as a re-
porter, Mr.. Tucker became interested in
the oil fields at the time the Kansas
producers were taking up the cudgels
against the discrimination of the stand
ard Oil company, the majority Of stock
holders being newspaper men OF Kansas
and Oklahoma.
This company secured a number OF
leases and did some work, but its pr1n-
cipal output was stock which was sold
until it became a drug on the market
Then Mr.. Tucker organized the Farm
ers' Oil company, which went through
the same course. The Uncle Sam COM
parry of Kansas quickly followed the
same route and then the big company,
the Uncle Sam Oil company of Arizona. |
was formed. This was in the nature of
a holding company and large part OF
the stock of the three other companies |
was held by it and through it MI. Tucl(- |
er controlled the affairs of the three cor
rora tons Stock was sold in this conf |
pany at prices ranging from cents to |
20 cents for share having par value |
Of 81 until such sales amounted to more |
than $4,000 The company maintain
ed large offices at Kansas City, Kan,
having an entire floor of the Wyandotte |
a-l7T1nX-iney of clerks. /
The directorate of the company was
dominated by Mr.. Tucker. whose father
and wife, with himself. formed Il MAORI
ty. One of the plans of the manager
was to deduct from each remittance
from stock subscribers 10 per cent, (which
in course of time was declared to be
dividend on the stock and would be re
turned to the subscribers This general
" produced another subscription.
When the stock sales fell off until they
became improbable Mr.. Tucker started
a course in high finance He first bought
from the company 100000 shares of stock
at l cent share; then he decided that
the company should issue bonds in place
of stock He then passed resolution
by which he was to have 10 per cent
commission on sale of stock and bonds,
the company to pay all expenses He
then traded his 100000 shares of stock
for bonds, the shares being taken at 80
cents and the bonds on a basis OF u
cents although they We're being sold to
|
he had placed s270.O0O of bon-;s creditors
began to push him. He decided to go
into voluntary bankruptcy
While this litigation was pending
Tucker issued an appeal to the stock
holders. who sent him considerable
sums of money and some stock, the
aggregate amount of cash being in the
neigh borhood of $4,000 This money
creditors of the Uncle Sam Oil COM
pany of Arizona tried to seize, but
have not been able to find IT. In court
Tucker declared the money thus paid
was a trust fund to be used in his de-
Tense or returned to the contributors
as they might demand.
When this statement was made a
number of Omaha creditors decided
they would like to see their money
again and Mr.. Anheuser was sent here
TO get it. Tucker made fair promises,
but never produced the cash and the
result was Mr.. Anheuser was COM
PEELED to make cause with other
creditors.
An attempt is now being made to
get at the bottom of all of fuckers
transactions and in pursuance of this
involuntary bankruptcy proceedings
will be instituted against the Uncle
Sam Oil company of Kansas. the Pub !
fishers Oil company. the Farmers Oil
company and H. II. Tucker. jr., in
dividually. This may bring all parties
and all cash into court where the af l
fairs Of all max be settled. Z
One of the main difficulties in the
settlement of the estate is the un-
known value of the assets. In the (
palmy DAYS of the various concerns
the most liberal contracts were made
with owners of oil lands In many
cases they provided for % per cent
royalty and forfeiture of the lease if
operations should be suspended for
more than a week at one time. Such
suspensions were common and a large
number OF the leases may be declared
forfeited. The city of Topeka gave 4
the company a refining grant in con- ]
sideration Of the refining of 100 bar
rels OF OF! a day. No such volume was
ever refined and the city is talking of
forfeiting the grant These grants
and the leases are said to be worth
about s1.NNO.OOO bv Tucker. but not
by the creditors or the trustee
The trustee is mana ging the bust |