Paragould soliphone. (Paragould, Ark.) 1918-1950, 1921-12-05
MEETING OF
B.-S. OIL CO.
YESTERDAY
Approximately Twenty-Five
Stockholders M e ct to
Hear Discussion Of Pro-
posed Settlement.
1rrom Saturdays Daily

A session OF the Burk-SHeIIleld
Oil Company was conducted in the
Chamber of Commerce rooms yester-
day afternoon at 4 o'clock, attended
by Approximately twenty-five indi-
djyiduals holding stock in that organ
ization. The meeting was addressed
by Griffin Smith, president of the
company. r. P. Taylor, attorney for
the company, discussing a proposed
compromise settlement of the COM
pany's stock interest of 100000 in
the Western Producing & Drilling
Company, of Texas, that amount be-
ing a stock-issue consideration OF
the sale consummated in June OF
last wear. 1t is announced in cir
cular letter sent out by the Burk-
Sheffield organization that attorneys
for G. H. Kadane and w. B. Mum
son. of Texas, purchasers of the
property for the company in Texas,
have proposed a settlement OF the
stock issue upon a basis of 25 cents
on the dollar.
The fact that no published notice
of the meeting had been made, all
the stockholders had not been notl-
fled, the session of yesterday could
not likely be regarded as having
been a stockholders meeting. AS a
result. there has been much express
ed dissatisfaction, stockholders thus
expressing themselves believing that
all individuals owning shares in the
Burk- Sheffield should have been
given the opportunity to attend a
session and given a hearing in a
matter they consider as being i'm
portant to their interests.
1t was announced that many
stockholders have decided to accept
the proposed compromise offer,
while others are desirous of having
the organization thrown into the
hands of a receiver and the whole
matter and affairs of the company
settled through the channel OF the
court Just what the outcome of the
situation will be no one seems to def
initely know 1t is announced, how
ever, that the company's officials
have entered upon the process of a
settlement upon the proposed basis
of 25 cents on the dollar.
The present management of The
Daily Press and The Soliphone
knows little or nothing about the
merits or demerits of the issues in
tion whatever with the management
of the company involved, has never
had and will not have, and he
doesn't pretend to know or to sug-
gest the course of action stockhold-
ers should pursue. Some individ-
uals, it seems, have been under the
formed upon the details of the man
agement and transactions attending
the company, but in that impression
they are distinctly and most en-
phatically erroneous. Our lack of
information, also-we wish to inn
press-extends with equal decisive
ness to the much discussed "$50,-
10000 commission deal"
1t is announced that the present
proposal to liquidate the Burk-Shef-
field Company does not apply, in
any sense, to the Par-a-Tex Oil
Company, 1t is announced by the
Officers of that company that they
are proceeding very satisfactorily
with the issue involved Harold
Pierce yesterday morning returned
from a trip to points in Texas in
the interest of that organization
and said he has occasion to feel en-
|couraged over the prospects, though
he has no definite statement to an
nounce at present Mr.. Pierce is
secretary of the Par-a-Tex Company
Sam P, McHaney is president.
We wish, also, to point out that
the management of these papers
has no connection with the man
|agement of the Par-a-Tex, either
We are tryingto run newspaper and
Iare kept pretty darn busy at that. In
|dividuals seeking information re.
garding the affairs of an organiza-
Ition should call upon the officials
They are the ones who are in posi-
tion to tell the stockholders all the
facts relating thereto.
Each member of the committee