The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-06-24
INDICT OIL
PROMOTERS FOR
HUGE FRAUDS
Government Round Up
Catches Scores ; Invest
ors Out Millions

NEW YORK. June 2A-Four oil
companies. ten brokerage houses aud
about so individuals have been indict-
ed by the federal grand jury on a
charge OF using the mails to defrnud
investors out OF millions Of dollars. II
was learned today when seals on the
indictments were ordered broken.
The companies involved are the
Hanger OH company. w. y. Williams
oil company. Great Western Petrol
cum corporation. and Crown Oh COM
pany.
Brokerage concerns Indicted were
Suckney. Rawlinson and Ciough. OF
Boston. and Curtis. Packer and com
pany. United Securities company: n.
Kent Holmes and company; II. Nor
gan Pollok and company: Thompson,
James and company: Crossman. sher-
man and company: George A. Lamb
and company: r.. NJ. Fuller and COM
pany, and Greenbaum. Higelow and
Grcenbaum. nearly all OF them with
headquarters In this city.
Some OF the brokerage houses had
connections in other cities.
The roundup now being conducted
il said to he the beginning OF nation
wide campaign against alleged oil
stock swindlers who are credited with
having cleaned up millions OF dollars
within the last few months.
individuals Nan Il
individuals Indicted comprise Off
GERS and directors Of the OIL and
N.aa
men.
Postofflcc Inspector Howard H.
Mayhem, who with Inspectors Clair
chan. Schwab and Williamson, gath
cred the evidence ON which today's
indictments were based, explained
that three Of the defendants here ac-
cuscd OF promoting the sale of Crown
oil stock were recently indicted at
Louisville. Ky, FOR alleged mail
frauds In connection with another
oil company.
The indictment against the Ranger
Oil company and others charged that
curtis. Packer ana company, by mis-
representation, sold to Investors at
mora than one dollar a share l,0O0,-
900, shares, which they are said to
have bought at twenty cents.
Charge Misrepresentation
II also is charged that a broker
age firm of which Ashley l.. Hoi-
brook was said 10 be the president
and with which Louis G.. Van Ripsr.
Charles r. Morton, ana John l.. Me-
Lean, were connected" represented
that now wells were being drilled on
the Ranger property, when effort to
procure oil there had been abandon
cd
The United Securities company. OF
which Van Ripper was said to be presi-
dent Is charged with disposal OF
t300.OO0 worth Of ranger stock.
In tho indictment c0ncerningg dis
posal OF W. =. Williams oil stock,
John J. kean. Thaddsus 81 Rice.
Edward 5. llinshaw, J. ". Sanders,
W. e., Eylc and Henry NJ. Shumaie,
said TO he directors. were indicted
with Joseph II Byrl, alleged promot-
crs uf Lexington, ny. and H. Nor
gan Pollok and company. Thompson.
james and company, ana 'russman,
I Sh"rmau and company of Nrw York,
and Stickney. Rawlinsod aud COL
cluugh of Boston
H. Morgan Pollock nnI partners
In the brukeug" firm of william H..
Day and Daniel ~ Mckcttertck also
were indicted individually win ". T..
Hrffron ut Thompson, lanes ard
company, Robert SticNncy ana John
v Colclough OF their B0s,nn house,
and Alexander Cros=mHn here
other shares Of the Williams stock
were said To nave HeVu ui-upsei OF
to investors through o. Ken; Holmes
and company and silosmcl Edward
A. Nelson. Jack A. NHlspu, W H..
Havlin and Frank W1rnrr, ali de-
PENDANTS
tn Indictment states that VII
linms property was misreprescnted
as yielding 500 barrels OF oil day
while it's total daily capacity was but
ten barrels. II is charged that div
idrnds' tutalling $4,000 were paid
out Of 81 900 900 realized from dis
posnl of stock to Investors Total
oil production of the Williams prop
erty amounted TO only 10000 worth.
u b. charged.
Concerning the Great Western Pc
troleum corporation. the stock OF
which was said to have been disposed
of through George A. Lamb and com
pauy, the indictment charges with
Misrepresentation the Great Western
company. Lamb and salesmen Shm-
uel Formund. David Rothenslcs
oseph Schoenbergcr, Samuel New
house. Maurice NJ. Golherg. George
DE uJfalusHy Victor Fuzzy, ~. T. pyke,
NJ. klein, Charles FriedherE and
Gumhurt.