Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-04-30
A RECEIVERSHIP
FOR Federal 60.
on AND Gas CONCERN or OKLA
uONiN IL BtNkRUPTCN.
leases ON 10000 acres
Court Ncu"n Result Of "Hish
tnancr,' SAYS Pcuuun-lupome
OF $4,000 Month.


4 rerryorsbn haas b.,p f,re.1
upon tbe Federal Du and g4. coJn-
rnnv or p,tt.burg p3 ,.l of Okla
homa throueh tha alleged .ooting of
the compauys funds. The company
nolis l,asei On about tom b,usapd
acres of land In OKLA r,,,, ANA b,, ,
production of Off .pid D., net tbo
compapv AN income of ,b,pt ana 0OO
each month.
The petition was filed iu the United
states court at lhiS place aud Federal
,t,,s,,,,a ,, ,h .' '''',' "'' 'g,u'', ~
here ast wool, b,a n,msd i,,.,k
Fraut1 former governor of oklahoma.
oI 'N'"h'ma CITY, ana W. n Chase of
~ NV ~, A.. 80 r., '',,'' W ,'' U' '"'' pur
Friday
The Fed, al on ana Gas company
Is one OF 'he largest OIL concerns op-
',,7 w. ,'"'i''''''"' '"O mas AS ltS
pcpt mon or m. c,., n.lnJi,g go
crnor Teuer OF Pennsylvania. W. Me-
SAY Smith millionaire of fittsburg.
','''' 'i,,' ~. 'o''er' uhIt'u states mar
syI,,pi, and orbsrs '
The court action "a the result ot
some high finance on the part Of
w w,n' pr'o''p'l oIii'efs 'I the company.
t,. rotho1 v,, ttg .',,. e','v s,,,' ,V,'''",' y,
transact all the business og tbe com
p1ny, it Is said.
The comoany has large holidays In
the Muskogee field The Nowata dts
trict the lloskelI field and In the
Usage nation. Among the properties
owned are the Georgia Bell Oil COM
pany OF Mu>kogee the Coody OH
company of Muskogee and Haskell.
Okla, and 'he Dawson OH company
and the Cherokee Development COM
pany The Muskogee properties were
bought last summer from Max Moore
and associates and from c. X. Me-
h'dden. McFadden was the local
manager employed at salary OF
$4,000 a year TO look after the COM
panys locd Interests. II is UNDER
stood that McFaddep's ser,lces b,va
b,a, dis,.,.,,d ,.i,t, .t..
''' "''' 'pPo''''u'
The petition for a receiver was filed
by W. Mckay smith. a pittsburs
millionaire tbrou,n Attor,o. vy
.,,.
''''' VI '>'"'''' VINO was the ONla-
homa Nl'e-t resident OF the company.
The petition recites that the Fed
oral r,mtnnv bas ,ho,,,. ,,,, ,,,.,,s,,,d
'>' W, "''''' .''''' anu " p'oou0''oh Ok
OIL mat brings $4,000 a month, IL
alleges that the company was formed
with a capital of a oOo ooo ar IA
.,., 80,
va WV '"N" =" ""'V"
'lVV Shof'' were Issued
The company was Incorporated at
DIVER Del hut the principal busi-
,....., a.. .....,..,.. ..,..,.,
W. Wv W. s''''@'''Y'' 90 >'''''"' w"
IN Fl'NputS Ihe oll'eels' VINO also
make up the executive committee, are
e.. f. Kisr,dden. presldent E. w.
hfoore treasurer and Perry A.
shaner. se e.retary an of ptttsburg.
Tho valuation of the company's prop
ert, An Oklahoma Is given At an even
half million dollars
II Ia pharvpd that the affairs OF tho
compapy we're mi,managed and the
funds of uhe treasury mlsappro-
pratcd. The company now has an
aggrcgaling S26S.00O, a
lars, mart uf which rs now PAYABLE,
and some ot which will become pay
able ON AUGUST /. II had due the
company $4,000. This amount. tho
declare. Is In bad notes
that are absolutely worthless. II
appears from the petition that the
officers looted the treasury of all
available funds of "A cash nature and
that the concern has been running tor
months on credit and b orrowed
money.
The stockholders OF the company.
until the first of the present year,
thought the company was dolng a
thriving bu jmrss \ report had been
made showing the company was