The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-06-23
IN THE OIL FIELDS
offses, s14i w. Il PECK Re.idsses z442

Icy ~ u derrick when pottiuR 10
Iaukiug houses. Who have given
thom employment ~ Rtoat "Ncpona".
There iH o good line up Ho i1r ~
iho board of governors is con
corucd ana n lH reported many n'W
cuupld"ratilu. pud VIII accept tho
responsibility ON this holr1, Pr.
ydlug things 90 we'll The hoard nH|
now organized inrudoH John "
Walsh who b. the original organ.
lsCr ~ th" nov exchange. william
IN. Iutchinguu, widely known uH the
president NJ ih, Securities NtCcp-
unCo rprbor1tiuu. and farmcrly
connected with ihr trlnu Tank Line
company, Mnv Epstein, president of
tho General American flrk car
corporation. lluur = lir"ui prosl-
don't 81 tho NorcH Hrtiic Rank ~
America. G. T. M7Hu.rc. president
| ~ the American Independent pciro.
,oum association. tngorh l. mi.
mock tronAurcr NJ the Shubcrt
| IThcntc~ company ana owning 'N'cn-
sivo oil Interests In Texas. W l.
| Russcli. wen known on producer NJ
| Lima. Onto. md formrrlv member
| ~ tho firm ~ ekollv n Russell ana
william T. Walsh, who ~ acting soc
Rotary.
The New york Evening Nan cGr-
rios ttc following In regard to IA"
new exchange.
ON order ~ exert y stubill2ing ~
foct on oil stock and bonds and nt-
fora market place fut trading I'm
OF sccuuiticn with iho maximum ~
projection 10 invcstort N" Now
York Petroleum oXchnure has been
lorrnniZId " it announced Thc now
lustltutlon, witch '4 incorporated ~
In mcml lorHhlp corporation undor the
llhNtg ~ the state ~ Ncw YORK, 90
pircg to mako itHolf ~ suprcmo value
Ito M phases 'uf tho petroleum In.
duFtry and We dcHlrnod io be- n va.
tioual institution wlth drfiuit' ana
continuous representation In every
loiI f,id ~ tho United States.
Mcmhcrship IA tho exchange
(which now occupies tcmuorarv quar-.
tiers at 1bs broadway ~ limited tc
600 lifo mcmbcrA ana 2h0 associ
lntc members over 200 momhorsh p'
lhave been placed and when th'
lncmhorship reaches 400 ~" cN
change viii opcn n trading floor.
CURLING tho activities 81 the fake
promoter and thereby incrensln.
! luhllc confidence IN oil sccurlt'
offerings win he ono OF tho chic
tasks ~ the exchange. according Il
John NJ walsh, chairman of th'
board There are about 20 600 knowi
loil companies In tho United state
nt the present time, repr presenting NJ
lnpproNimatc capital Investment O.
$4,000 OOO. 600 and IN 1919 Il Is cs
timatcd that approximately $3.50,
900 900 was invested IN fr1udulcn
oil schemes
Listing requirements on the ncV
exchange viii he similar to thos
now In effect on the New Yorl
stock exchange. Indercndent Ncpnrt
will also be furnished hy a stnff o
engineers and gcologistS cinploye'
by the exchange.
compliance with tho liating reg
, lulations toPcthor with ccriificntio
= lby the exchange will establish tn
+, lvaluo of securities and render ther
ncceptahle Rs collateral for loans,
y IL stated. These regulations, ntforc
ing protection from the fake pre-
: moter without hnndicaping Digit
I mnto transactions, win, Il IL believe
| result In y substantial Increase
the public interest ana confiden'
IN the offerings OF oil securities nm
will tend to render more caplti
! ava.iHh'. to the industry nt lowe
cost than under present conditions