The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-10-28
KEMP AND MOORE ARE
APPOINTED RECEIVERS
MID-CO CORPORATIONS
Nominations Are Made By
Three Factions In
the Case.

L. Il. Kemp of Tulsa and George
n. Moore Of Chicago. were appointed
as receivers of the properties of the
Midco Petroleum company and the
AIidco Gasoline company by Judge
John c. Pollock, presiding at the ses-
sion Of the United States district
court in Ardmoie Thursday afternoon
The men were appointed following
conference of attorneys representing
the companies. the creditors commit
tee. and the bondholders of the con-
Germ. and during which the receivers
were nominated. The appointment Of
the referee is temporary until the
pending hearing is held on the 'peu-
ton of the creditors Of the companies
TO have them adjrdicated in bank
ruptcy, and TO which petition an ans
wer is due during next month. The
receivers have permission TO file an
cillar receivership proceedings in the
United States district courts of the
western district of Oklahoma, Texas,
Kansas, Louisiana or Arkanaas.
The case promises 10 be one OF the
hardest fought legal battles OF its
Kind ever tried in oklahoma. The
legal talent which has been employed
by three distinct factions represents
attorneys among the best in the state
and including Edgar DeMules OF the
firm OF Ramsey, DeMules. Rosser and
Martin OF Tulsa, representing the Pc
tItioning creditors: IL. l.. Fist of the
firm of Owen, Yancy and Fist, Tulsa,
representing the companies; and p.
c. West of the firm of West, Sherman
Davidson and Moore of Tulsa, and
J. +. Sharpe Of the firm Of Stuart.
Sharpe and Cruce of Oklahoma City,
representing the bondholders OF the
companies.
First friction was noticeable at the
hearing Thursday during which at
torneys requested that the receivers
be appointed, while on the other hand
the attorneys for the bondholders op-
yosed immediate appointment Of re.
ceiver requesting that II be put or
until next week in order that they
might be enabled 10 investigate more
!llly the affairs OF the companies
Judge Pollock expressed the opinion
that inasmuch as the bondholders were
secured. and the creditors were not
and as Il appeared that the affairs
~ the concern We're In such chapo
as required immediate attention. q
receiver should be appointed and In.
etructed the various factions o. ge. TO.
Gether and nominate their choice.
NJ. NJ. Travis. president Of the Mid.
co companies was present az
the hearing. aud stated that under
present conditions he believed It mos'
advisable that a receiver lc appointed
lie explained that the affairs OF tbs
companies which he heads had been
turned over TO a committee Of crcdi.
tors who attempted TO manage their
but that the result has been bad
case OF mismanagement with the NJ.
iairs OF the company In a state oi
chaos. 1T would bc fair FOR all con.
cerned," he said. "to have receiver
appointed" Mr.. Travis announced tha,
he did not Intend at the present time
10 admit the allegations contained In
the petition OF the creditors as filed
ut Muskogee. and which was In tn,
nature OF recievership proceedings al.
leslng that the company IS bank.
fu9t without any directing head. In
addition TO other statements containee
therein.
According TO statement made by
N. l.. Fist an attorney representing
the president OF the Mldoo companie,
the whole affair is resultant of n
family mix-rp. He stated here yoster
day. during an interview. that Trav..
had organized the AIidco CORPORATION,
IN 1914 at time when he was worth
nothing as regards finance. and that
through his efforts the firms nav,
reached their present great value. Aftel
his marriage, stated tho attorney
Travis took his father.lniaw, l.. y. y
Aaronsen as partner in the husines,
Some time later, tho two men die
agreed and MS "A result Aaronson ler
the firm when = financial se,tlemen
was agreed upon. The attorney state
that Travis contends the rettlemer
was procured by Aaronson throus,
fraud. Speaking further Of the affair
the attorney states that the Tulomi
oil company, headed by Aaronson, /
suing the Midco companies for 5000. 90
and that the sum OF 100000 as par
OF the settlement had already beei
paid 10 the Tuloma Oil company
The case involves properties yalue