The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-01
SCHATZKIN IS OUT
OF INYINCIBLE OIL
j. s. Bache 4 Co. and Associ-
ates Take Over Holdings Of
Thousands Of Shares.
FORTUNE NOT WIPED OUT
Reported as Overwhelmed in
Speculative Issues and Deal
Will Aid Him.

| All OF S. NJ. Schatzkin's holdings of
stock In the Invincible Oil Corporation.
numbering, 1t IS understood. many thou
sands of shares. have been taken over
! after lengthy negotiations by j. S. Bache
&c Co. and their associates. according to
an announcement made by that firm late
yesterday. The elimination Of SchatzlSin
from Invincible OIL. 1t was said yester-
day. does not mean that his personal
fortune has been wiped out II Is under
stood that he was overextended In spec
ulative stocks and that his Invincible
holdings were taken over to put him In
stronger position to handle the several
other companies In which he was inter-
ested. That transaction. 1t was said
was the second in which Schatzkin had
figured in recent months, although the
details OF the first We're not made public.
The other, according to information OBJ
tanned yesterday, was the United States
Distributing Corporation. large truck
ing organization which Schatzkin
formed and Incorporated about a year
ago and In which he had large in
terest His interest in that corporation.
however was disposed of at private sale
in the venture several months ago.
s. M. Schatzkin has been a prominent
factor in Wall Street for the last several
years. He was heavily interested at
one time in Burns Brothers, the New
York coal dealers, and II is understood
that he retains some interest In that
corporation. He was a chief factorTin
the formation of the Farrell Coal Com
pany and Is understood to have been
/ Ir.t,d hat inn
Ever since the beginning of the world
war, s. M. Schatzkin has been con-
sidered one OF the biggest speculative
I factors in Wall Street, and although
the latest transaction by which his
Invinclble Oil holdings are taken over
does not remove him from his other
companies, 1t Is understood that II does
eliminate him as an important specu-
lative factor in the financial district.
e. r. Ratcliff. president of the In
vincible OF Corporation. yesterday made
the following statement: 'Invincible Oil
Corporations earnings for the ten
months ending October 81 amount To APP
proximately S6.650000. Settled produc-
ton from all fields is averaging 1850
barrels day. for which the company
is getting an average price OF S3.H
barrel. It's refineries are running lU
per cent of capacity, or 10000 barrels a
day." Mr. Ratclff estimated earnings
for the full twelve months at approx
imately ss.00O.OoO, or s21 share on the
376, 900 shares of capital stock outstand-
ing.
The Invincible Oil Corporation was in
corporated in June. 1919. when 1t &C.
auired a controlling interest In the
Louisiana Oil Refining Corporation, the
Invincible Oil Company and the Glad
stone OIL and Refining Company,
Through its control of those companies
II owns 10000 acres Office lands, Oil
and gas leases in Oklahoma, Texas,
Louisiana and Alabama, in addition to
which the company has recently ac-
auired. together with the Standard Oll
Company of Louisiana, approximately
%. 600 acres In Arkansas.