The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-29

pany in another state for $l,OOO,00o and L
had made up my mind that If these
parties attacking the Providence Oil ana
Gas company forced the Providence Oil
and Gas company into bankruptcy and
thus forfeited their leases from me that
would give this new company leases for
the property and then give to each OF
the Providence Oil and Gas company
stockholders an equal amount OF Tree
stock in the new company. / am still In
position to do this and IL the necessity
should arise I will certainly see that all
innocent purchasers of Providence OIL
and Gas company stock sustain no loss
in the end and at the same time Will
have no gifts or concessions for those
who have not helped in any way to adj
vance the interests of the Providence OIL
and Gas company. The fight that has
been precipitated on me in my opinion
has never really been aimed at me, 1t
has been aimed at the weak stockholder
by those who know the value OF this
property and who want to secure owner
ship of same for a trifie or a small part
of its real value. have never personally
called on the business men OF this COM
munity for help on any proposition, but
the time has come for them to wake up
and go to work to secure natuI al gas Cor
Birmingham.
Some months ago We had represen-
tative of the Providence OIL and Gas
company in Columbus Miss, and this
representative had worked up large
interest in the Providence Oil and Gas
company amongst the leading citizens of
the city and they had called for and
arranged a mass meeting to be held at
the courthouse. The mass meeting was
a large one and there was an arrange
ment for them to subscribe for 10000
shares of Providence Oil and Gas COM
| 81. f1aA
time was ripe and our representative told
me that they would have bought the
stock had 1t not been that as the cit
liens were coming to the meeting they
were each handed a circular Offering the
Providence Oil and Gas company stock
for 40 cents per share; upon fnvesti-
CATION 1 found that Mr.. Hobson's stock
was the stock that was offered. as soon
as / found this was the case I at once
asked for and received his resignation
as an officer or employee Of the COM
pany.
Now, Mr. Hobson, I wish you would
explain why you were not aiding
and helping the company instead
of selling your own stock and
would like to ask also II you have
not organized several companies since
then, and to ask If you have not in
sisted on coming in on any pipe COM
pany which might be formed. Now, are
you acting for the interest of the Provf-
dence Oil and Gas company In trying
to throw cold water on the Consumers
Natural Gas company? Is it not fact
that you know the pipe line can be built
with home capital and by popular sub
scriptions? Is it not to your interest for
A. pipe line to be built by you instead
of the Consumers Natural Gas company?
Have you done anything in any way to
help the Providence OIL and Gas COM
| pany keep the drills running or TO help
nav and keep the drillers at work? Did
| | not for several months pay you SAL
airy of 5000 per month to. keep the logs
| of the wells while they were being
| drilled? Now have you been loyal to
the company In its effortS to keep its
work going on while its enemies were
| trying to destroy 1t?
Now, another question. while you have
taken advantage of the market created
by me for the stock of the company,
have YOU ever spent a dollar OF your own
| when YOU knew the company was in dis
| tress, in helping them keep the work 60
| ing on? Did you ever do a days work
| for them that you were not paid Tor at
the rate of 5000 per month?
Mr. Hobson, have you ever asked me
a single question about the affairs OF the
Providence Oil and Gas company that
| have not answered frankly and fully?
Have you helped me in any way In
| irving to secure funds to build a pipe
| line?
| Did YOU not claim to know people who
| would build it, and If you were let in
| on the stock Of the company, did you
not offer to put me In touch with these
same people?
| Did YOU give me these addresses
| Respectfully, e. b. GROW H. Fres''