The Arizona copper camp., 1919-05-24
SUBSCRIBERS PROTESTING;
PAID CASH FOR OIL STOCK
AND GET NO CERTIFICATES
Ray Stockholders in Oil Co., Prepare to Take Action
Against Texas Brokers; Committee Plans Prompt
Action and Corporation Commission Promises Coop
Grafton

Burk Bethel Oil cOmpany'S SubScrib-
ers in Ray, for they have sent the
following letter to the attorney gen.
eral of the State Of Texas:
MAY 10, 1919.
"The Hon. Attorney General of the
State of Austin, Texas:
Dear SIR
Confirming the telegram sent to
you this day:
Committee representing number of
subscribers, Burk Bethel Oil company,
wish to enlist your services to secure
recognition and justice from Sheppard
& Co., of Ft. Worth, Wichita Falls and
Burkburnett, Texas. Our subscrip-
tions were given their local represen-
tative. The company received sub
scribers' money, wired acceptance OF
representatives order and has had
money about one month. Sheppard &
Co. disregarded all communications
requesting delivery of stock. Refer
ring this complaint to you, asking
what remedy we can have under your
laws. Please act Immediately; advise
us by wire your action. Spare no ex-
pense. You are interested in frauds.
(Signed) "R. s. STRACHAN,
''for Committee
1--WE do not know il you have taken
any action in this matter at this writ
ing, but we feel that few more words
of explanation would not be amiss,
the better to enable you to reach a de-
cision. The facts in the case are:
"a number of us approximately
thirty-fye) bought from one Elmer
Nelson, who is a representative of the
Sheppard G Co. mentioned in the tel
egram, large number of shares in
the Burk Bethel OIL company This
was between the dates of April 10th
and April 25th, 1919. Nelson wired to.
the company. and Sheppard & Co. re-
piled, booking the orders, and stated
that subsequent orders would be TAX
en-, subject to money refund. We be-
lieye that Sheppard's wired accept
ance of the order constitutes a con-
tract. 2s. r.. 80;
ga number of us wired to Sheppard
and wrote to them, requesting that a
delivery. of the stock certificates be
made. That company has totally dis
regarded such communications. Mel
son (the agent) has not been able to
obtain anything definite from them.
He gave us to understand, though,
that the company was willing to re-
turn our money. We feel, however
that this is q rank injustice, as Shep-
pard & Co. have had our money for
the length Of time necessary to prove
the property. Since our subscriptions
were accepted, the Burk Bethel Oil
company's property has increased in
value considerably, due to wells hay
ing come in all around them. In addi-
tion, we understand that the stock
has sold at $3.50 at Wichita Falls, on
the strength Of the two wells being
sunk, in additions to the development
in adjacent territory.
'1t looks to us as though the com
pany has endeayored to defraud US Of
our stock, and we are turning to you,
as the proper authority, to secure our
rights.
'In view of the fact. that the COM
pany entered into contract with US to
deliver the stock to us, is it not pos
sible, under the laws of the State of
Texas, to enforce the delivery of the
stock? We believe that your state,
having had the tremendous oil boom
which 1t has, has certainly provided
rights and privileges for the individ-
ual stockholder; we are not on the
ground; we do not have chance to
see developments; surely action of
some sort can be taken against COM
pany that shows no effort to return
money which it has had for month; |;
does not reply to communications and,
after a property has materially ad-
vanced in value, tries to salve stock
holders with an offer of money
back"
ave are not in position to know
whether OF not a criminal action ex
lists from the conditions outlined; II
it does, we were no doubt in the right
in appealing to you for aid. If only 9
civil action exists, may we ask that
you notify us by wire, stating what
will be necessary for US to do, in order
to secure our rights? At any rate
we, as a committee, are prepared tc
stop at no expense in order to secure
Justice, though we feel that the bur
den OF expense should not be placed
on those who are not guilty of acting
otherwise than in good faith. $50