Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-07-22
COMPROMISE Biz
TEXTS OIL SUI
ST\NDARD on PAWS $500 600
PIN ALTN IN Si02, ,iBl 900
CASE.
NAM TRUSTEE FOR STICK
Trustees VIII Administer Magnolia
stock inlirely separate from
Standard on Company


GREENNIlLE, Texas July IL
The Standard OH company OF New
So. t,d,, cont ,60O non into Texas
10 ,.u
DN Wlr' paying 'h' 'H'''' '''''' "'i'
Hon as a penalty for violation OF the
rsv,s ,rt.t,uat laws. The settle
.,....,,i,., MIN ,nr
neH' was '''''P' una
state. 1t wiped the re'ofuS cleah ol
ttc big Sl02.I6l,OoU penalty aud
,,.ni,h III. STATE flied
ouS''' sui -,
recently against r"ur Oh 'oIlip'"i,S'
ftv. New York hanks and 28 indi-
yiGuaIs. including several Of the
couutrvs leading OH men.
Tn, penalty Is based on violations
from 1900 to 1913. The verdict
tpccifpauy says the Magnolia Pet
rolrum company. the chief Texas IN
trrrst I'm the suit, has not been guilty
of violations
Transfr, Magnolia Stock.
nj, ..,,.,r,,,is,. made one signlf;-
~ t,,,p" W. -, tn, nrp,ni2ation of
a, s,,uIs ~ ,anital in Texas. 1t
transferred Il stock owned in the
Magnolia by John d. Archhold ana
II. C. fosier Jro n"th pIoihlieu'
Standard pll men, from th'lI H.uI
Vidual control INTO the hahus oi
trustee. Hereafter the trustee VIII
administer this particular Masnolla
stock under guarantee 10 'ho Sta'S
by the tr1steeshlp of complete ana
independents operation Dy lhe MAJ
lola The trustee appoln''u l"uaS
Is Judge f. \. Williams. or Ausun'
Texas A'2hbold ana FuEIer eaHn
hold 1875 snores OF M'EhoiH,
total ot 2l,596 shares out OF lf'oVV'
the Magnolla's entire issue.
Todays Fction Is the fourth time
In about six years that IeNas mas
L,nail2c1 oil companies This Is the
fiIst instance In which any OF lhe
companies sued has been permitted
O. continue business III ichts III
1907 the state ousted the waters
Pierce Oil company and penallHtd u
}I62& 900; ard IN ;9Vs II ined the
Security OIL company $76,3oO ana t1e
Navarro Refining Company ~ wv
cancelling the charters or poth, Ihe
n resent Mlgn"lia took over the re-
hnery and business or ines com
t"nles' a''"r"'hF ~ '"' N''''
TOOK MUCH i'''''''""N'
For nearly month the state TOOK
testimony I'm the present sun IN
Texas, and had planned 70 begin IN
New York cry on August 10 CON
tnuation 4 testimony taxing whl'h
now Will he dronped. In the Texas
testimony The state contenuel Una!
Messrs Ar 'nbold ana roger anu
ether STANDARD Oh men VINO no"
cwE, or who had owned Magnolia
stock. were so close to me IeNfs CON
cern that stardard on interests prac-
tiCally controlled II, tenhlng 10 raise
oil prices In Texas ana pelns men
sIce to continuance or computeioh
II Texas In reply the oil companies
submitted eNlcercs whlch they cialnl-
ed showed he Magnolia had ac'n9l'v
begun campaign 10 enter otneI
states TO compete with standard on
companies.
Attorneys fees allowed today Nere
$4,000 divided between klrhar' y.
Mlury OF Houston. special prosecutor
fer the state ana Officials or th's
OlunO county VINO as''s'ed IN thp
reccivership into which thc state
threw the Magnolia March b, the day
6ftnr the suit was filed mere.
Defendants and Penalties.
~, daf.,d,rts oc1 nc,aItias rIed
-. ,so,., 80. ,stSn ooonarh
c,o.sor5 ~ 80 M. WI, c,ordord
CH w. >lon 1ersov corsicar, petrol.
- -,,,,',n,, Iot,n II trohbaiJ
-, ~ p.li,.,,I,ar r. 49,
-" ~, GU. ~, ria,I,,.,
=, q, al ~ ~ Wi,
- p,.o -, ,rt,,,s,.,ti, po,,n,
q, oco ,o., aa,tnot W - pro-
90, Cor.i.on. Texos p,y,e
and Howard Ravne of New York; -.
C.. Edwards OF Norwalk. Conn, r.
Waverlv Smith and John S"alv of
Galveston, Texas. r. r. Brown. Cor
s'cana. Tcxas, George G. Greer, and
Courtney Marshall * Beaumont,
Texas.
One million dollars, Magnolia Pc
troleum company.
Elght hundred thousand do'l'rs
collectively against q. c. Edwards r..
Il Brown and John Sealy as Mag
pclia trustees.
and dullars against Columbia Knick-
Crbocker Trust company OF New
Work.