The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1911-09-01
lore CHANGES
IN ASSOCIATED
ARE HINTED AT
Southern Pacific Said to Be on
Verge of Dropping Its Oil
Interests
LOvett Concludes Era of Inyes-
legations Might Embarrass
the Company
w. S. Porter and F. II. Buck
Are Mentioned as Success
sOrs to Scribner
/" HE resignation of othello Serb

/" HE resignation of Othello Scrib-
iner as vice president and assist
ant general manager of the. As
sociated oil company came ss a
surprise yesterday even TO those who
had believed themselves intimately ac-
quainted with the affairs of the COM
desk through the month of September
He viii the nstep out and his successor
viii be named
The impression has spread that the
retirement OF scribner is the forerun-
nsr Of other and significant changes
within the company. 1t is stated on
the very best of authority that the
Southern Pacific. owner of the major
ity stock Of the company, is eager to
d1vest itself of its holdings in the cor
poration. 1t can not do this at once
without sacrificing the property. and
for that reason transfer will neces-
sarily be delayed.
President Lovett of the Southern Pa
ci1c has concluded that the Associated
may prove a serious embarrassment to
the railroad corporation. The relation
ship now existing is at best of doubtful
legally. And this is day of congress
sionai Investigations and federal prose-
ca6oHs
Lovctt and Herrin Parted
The return of william F. Herrin
resident CT the Associated Oil COM
aHS. fFor hts trip abrr7 ase+tc sa'
:, sAsfsrA states was followed BY re-
brIs Of important changes affecting
petroleum corporation. 1t was un-
rstood that he had paused in New
TX on his way back long enough to
lfer on the subject with President
,Ifeft and Kuhn-Loeb banking inter
asts, which have long been Identified
With the Hartman properties. 1t was
sren hinted that Lovett and Herrin had
come TO a parting of the ways, but this
report was not given general credence.
Upon his return Herrin entered a de-
isl to thes tory that the Associated
"a 10 be sold to the Royal Dutch or
Hell interests. It appears that over
tures had been made by this foreign
concern. but the negotiations had not
5een successful
Both Herrin and Porter are out of the
sf+v. They will return within a few
and take up the subject of Scrib-
successor No official of the cor
ton would venture suggestion as
e man upon whom would fall the
IS that Scribner had shouldered. In
quarters the belief was expressed
Y. s Porter, general manager,
tagain assume personal control of
roperty.
ter has for more than a year past
husily occupied in Texas, where he
eaerged a large number of proper
aes into the Central Fuel Oil company.
This is a large producing and market
fnz corporation, designed to play the
same part in the oil business in Texas
and the southwest that the Associated
bears to the business on the Pacific
roast. Porter is president of the Cen
raj Fuel Oil company and ". A. Sloan
san Francisco is vice president.
saoan is also treasurer of the Asso-
cfated oil company. The same inter
ssts appear in both concerns.
Porter's Path Beset
The path of the Central Fuel Oil
company has been marked by many a
arn. II is in bitter litigation in
as and has not been able to pro-
the large amount of oil it had
.arated. 1t is thought by some
porter is weary Of his Texas ven
where he came into violent con-
18th the interests of the late John
ties and would welcome an op-
dty to return to the management
Associated.
he other hand it was stated in
quarters yesterday that F Fl.
might succeed to the manage
He fs q member Of the execu-
COMMITTEES Of the board of di-
ors.
financial district sat up and took
sui notice yesterday when 1t was
lsed of the withdrawal of scrib-
There was general. .commendafion
ribner's work in building the cor
don to its present large dimen-
Interest was particularly keen
The future policy of the company.
OPS was expressed that the COM
would inaugurate the open
system that { would substitute
srecy system Of regular month
weekly reports with full details
srations. With this was coupled
ope that some decision might be
Sd as to dividends. While there
difference Of opinion as to the
IN Of paying dividends at this
there is q feeling In the busi-
cenmunity that the company
d sdopt policy which would per-
he share holders TO know at what
d.7idends might be expected.