The Birmingham age-herald., 1923-10-04
6OO II |T|zENo
 HERE BUYERS IF SECURITIES
Some Local Investors Put As
 Much As $50,000 Into The Project, Which Was Repre- sented As Genuine Bonanza
UNIQUE RUSE PLANNED TO GET MEN INTO STATE
Preston Motor Official Busy Wednesday In Effort To Make Bond-Great Array
 Of Legal Talent Lining Up

Six hundred Birmingham citizens invested in the Walker Consolidated Petroleum company of Dallas, Texas, some of them putting in as much as $50,000 and fully 17.000 shares of stock were sold Tn Alabama, much of 1t at par and some as high as $50 share, according tQ testimony worked up by William c. Oates, ex- curities commission, under the dtrec- tion of President A G. Patterson of the commission. This testimony was furnished to The Age-Herald We'd nesday by Mir. Oates, following an- nouncement in The Age-H Herald W ed- nesday morning that officers of the company had been indicted by the Jefferson county grand jury.
 Judge A. W. Walker of Dallas, president; Harold Walker of Dallas, vice president; D. S. Menasco of In dianapolis, Ind, and Hudmon Hop son of Birmingham were reported .in- dicted twice each, according to The Age Herald story Wednesday morn ing, on 22 and 26 count, respective ly, charging illegal sale or offering for sale stock in three Texas oil com panies, and filing false reports re- garding these companies. Capiases had not been issued late Wednesday from the office of Forney w. Bran don circuit clerk, criminal division. It was pointed out that if the men have been indicted, as appears to pc a certainty, acquisition papers must be served on the governors of Texas and Indiana to bring them back.
 Brilliant Piece 2 Or 2 stF,stesy. 2
 Here is where one of the most bril- liant pieces of criminal strategy used in years In Alabama will come in, according to those active in the case. Indictments against these men were returned in federal court upon evil dence supplied by the Alabama se- curities commission by the last fed- eral grand jury charging misuse or the mails. When the officers come into the state in March to pc ar raigned. county authorities will ar rest the non-residents of Alabama. Texas governors do not have extra dition in cases involving sale Of oil stocks. This means that these cases will not come up up for trial untll March at least.
 When the men are arraigned' an imposing array of legal talent will defend the Walker company officers if is understood. EX-United States Senator Joe Bailey of Texas is chief counsel for the company, 1t IS under stood. He will probably come to Birmingham to defend them when inc federal cases come up and is ex- pected to handle the defense when the state action begins. Percy Ben- ners and Burr of Birmingham are at torneys for the men retained for the federal court actions, but whether they will handle the state cases could not be learned Wednesday from Bor- on Burr. member of the firm, when called over the telephone by an Age Herald representative.
 Simultaneously with the announce 1n,lt that Walker officers were re- ported to have been indicted, The
 aH a effect that three officers of the Pres ton Motors corporation of Birming- ham had also been the target of grand iury action, Ross A. Skinner. presi- dent; James T. Driver, vice president, and Preston Orr, secretary and treas urer were each reported to have been twice indicted on one and IA counts, respectively, charging making of false statements in quarterly reports to the securities commission and H. legal sale and offering for sale of stock of the corporation. Operations involving more than a million dollars are said to have been conducted H. legally by the company.
 Skinner and Orr were reported Wednesday to be in Birmingham. Driver is out of town. Alex Birch of Weatherly Birch and Hickman, which firm. with Black, Harris and Poster, will defend Skinner, was in SOltllor DAVIS OItlce early MeuHeS- day morning, seeking to make bond For his client. Solicitor Davis will recommend that bond be set at s2,000 for each man on each of the two indictments. he told MT. Birch. Mr Birch told an Age Herald repre- sentative at the time that he did not know who would be retained as coun- sel for the other men. Bond for Skin ner is said to have been arranged Wednesday morning, to be made as soon as capiases are issued from the
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