The San Francisco call., 1910-09-04
OIL SQUABBLE IS
SMOOTHED over
ClaremOnt Company Stock Hold
ers Kiss and Make Up and
Adjust Differences
Belief Prevails That Union Will
Agree to Complaints of
Minority Faction

An smicable agreement seems = to
have been arrived at between the
minority stock holders in the Ciaremont
oil company. the majority stock holders,
and the Union OIL company. which has
stilled the talk of litigation between
the two factions in the concern. 1t is
believed that the Union oil company
). VIII agree to the justice of the minor
-1ty stock holders complaints and that
9he difficulties VIII be adjusted
. The trouble between the two factions
-in the Claremont oil company came to
a. head August "a, when the protest
Sng committee Of the minority stock
holders. consisting OF Gaimard stoney,
Edmund Tauzsky and John Baker Jr.
addressed complaint to the board of
directors OF the Claremont company.
At that time three OF the i've directors
of the Claremont company We're en-
ployes OF the Union oil COMPANY
Alexander Sclater manager o. the sales
department W c. Tubhv. manager of
the marine department and r. ).
.keOWn ,5r. assistant mana ger OF the
- sales department. The other directors
were John Baker Jr.. and J. a. Fischer
This board 81 directors was elected
January -. 1870.
Tie complaints made hv the minority
en- August q were ia substance: That
through improper management of field
operations the Union oil company's
representatives. had caused loss to
the C.aremont stock holders of ap-
proXimately $4,000 That although
obi gated 20 do so by contract the
Il mon oil company was not receiving
p. the oil produced on the property. which
70 that date amounted TO nearly 10000
barrels. That the Union oil company
was not paying for the oil which it
actually took. and that on that date
there was approximately $4,000 due
from the Union oil company TO the
Claremont oil company for oil actually
oelivered. That they had permitted the
cancellation of the Associated oil COM
panE contract which under present
conditions in the oil business was of
1nestimable value.
The complaints were backed Up with
tie threat that If the directors of the
company did not sue the Union oil
company TO recover, the minority di-
rectors would take action q gainst the
Union and against the ma jority on the
= board.
=. But on that day. August "a. the
movement to settle the differences was
started. A new board of officers was
elected, consisting of w. L Stewart
vice president of the Union oil COM
pany, president; Charles &. Perkins of
dos Angeles, representing the minority
stock holders, vice president: T. p. Judd
OF Los Angeles. secretary; [. Sutclffe
OF san Francisco. assistant secretary
and transfer agent. The directors
consisted of the president and vice
president. and Giles Kellogg. secretary
of the Union oil company: l. W. An
drews, attorney for the Union oil com
pany, and John Baker Jr.
A meeting of the new board of di-
rectors was held i'm Los Angeles Friday.
and resolution was passed directing
the president of the company to call
upon the Union oil company to paw its
indebtedness Immediately. and also to
carry out its contracts with the Clare
mont company and to conduct the oper-
auons OF the Claremont 10 its ma XII
mum production.
The Claremont oil company has a
contract with the Associated oil COM
pany for its Kern county productions.
and with the Union oil company for its
Coannga productions at better than
current market prices.