The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-04-20
RECEIVER NAM E D
FOR OIL COMPANY
Noble Corporation Under
Control of Appointee
of District Judge
FLINT HAS QUALIFIED
With Shakely Will Take Over
Assets of Company for Set
tlement Of Litigation

Hopes for 'ust ana equitable
rcttllnE Of tho affairs of The Charles
J.. Noble Oh g. Gas co. were enter
tnlned by officials md stockholders
in tho company wednesday, whom
District Judpo VAlirln nl1digon np.
pointed Charles W. Flint. president
Of the Tulsa RIG & Reel Co. ns re-
ceiver of tho company following n
suit for rocelvcrshlp brought by ".
o. Mcclure and Nellie " snyder,
large stockholdors iu tho company.
Followlus Judge BlddiHon'H ap-
polntmout. District Judge Albert g.
Hunt. In Keeping with the formers
decision In tho suit rosciudcd the
restraining order issued out of his
court Tuesday. restraining any Of
the newly, ,loCtgd officials Of the
company from interfering with tho
conduct OF tho business and rCin-
stating Noble a. president of the
corporation.
CLIMAX Tuesday.
Tho restraining order issued by
Judge Hunt Tuesday. which caused
nm added friction among factions OF
the company reached climax
Tuesday night whom Charles s..
Avery, one Of the directors roe
ptraIned by the order. and others,
including several private detectives.
moved upon the office OF the cor
poration, located Ia tho First Ma
tional bank building. Attorneys for
Avery said that he went to tho Of
fice with tho primary purpose OF
seeing that none OF tho records or
the company were carried away or
destroyed.
!. l.. shakcly was appointed CO.
receiver OF the company shortly be-
foro noon Wednesday by Judge
Biddison, and his bond set at $780,
600.
Attorney Herbert n. Mason OF the
firm Of Mason a. Honnold, attor-
noya for Flint na receiver OF the
company. issued tho following state
ment to The World wednesday aft
ernoon, I'm which the hope was OK
pressed that tho affairs OF the COM
pany might be made safe for the
investors!
Receivers Statement.
District Judge Vatican Blddlson
last night appointed Charles w,
FLINT az receiver Of tho Noble oil
a. Gas 60. Mr.. Flint has qualified
and taken possession, fIc will. for
the present. retain In an advisory
capacity Charles II. Noble, the pres
ident Of the company. and Arthur
II. Craver, the vice president OF tho
company, hoping thereby TO secure
the advice and cooperation OF the
representative OF both factions
which have been Contcnding for the
control OF tho corporation.
"a hasty investigation OF the af-
fairs OF the company indicates that.
beyond doubt. there are assets suf-
flclent TO pay all creditors in full
and that II tho company IL allowed
10 continue operations, the stock
holders investment can bc mnde
safe. Tho current payables, accord
ing 20 the books OF the company,
will not exceed $1,75O,0O0, and tho
total indebtedness not more than
$4,000. 900, outside OF claims and lit
igations. which the receiver hopes
TO adjust. The appraisal OF the
oompany's properties made last fall
shows sound value OF upwards OF
$4,000. 900. Tho receiver hopes TO
make an amicable adjustment Of tho
controversies between the respec-
tive factions and TO restore the COM
pauy 10 n sound operating basis.
Judge Blddisou's appointment OF n
receiver affords the opportunity and
the only possible method of work.
ing out ana protecting tho rights OF
all parties concerned Tho receiver
has. rs indicated, already invited
the cooperation OF both factions
and hopes to secure II Tor tho best
interests of all parties concerned. D."