The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-02-18
ST ANDARD
IS IN OIL
DEAL
Owns Big Interest IN Three
Sinclair Companies,
Record Shows.
BY JONATHAN WICKWIRE.
Copyright. 1924. by The washington
Timea fsofTtoanwA a5sesssts4ss -

by JUNAIhAN WlCkWlRE.
Copyright. 1924. by The Washington
| Times Company 4es
Ida NJ. Tarbell, in an interview
published in the Washington
Times Saturday, declared her be-
lief that the Standard Oil Com
pany would be found involved
in some way. in the naval oil leas-
ing scandal before it is thorough
ly threshed out.
The forecast was bred of the
intuition of a woman who of all
authorities is accepted as the
highest on the history and meth
DDS of Standard Oil.
Here are the facts:
What Record Shows.
The Mammoth Oil Company was
incorporated in Delaware, Febru-
airy %, 1922, for the exploitation
Of Teapot Dome, properly known
as Naval Petroleum Reserve No. 3,
six weeks before it's lease, on April
Z, to Harry F. Sinclair by Secre-
tary of the Interior Albert B. Fall.
The Standard Oil Company Of In
diana owns 40 per cent Of the
100000 shares Class A and 5000
shares Class B, no par value capital
stock of the Mammoth Oil Com
pany, the Sinclair Consolidated Oil
Company owning the balance.
The Mammoth Oil Company il
building a pipe line from Teapot
Dome to Kansas City by way OF
Neodesha, where the great refinery
Of the Standard Oil Company of
Kansas is located, so the Standard
interests are assured not only a
40 per cent interest in the profits
from the oil in the 1921 acres in
Naval Reserve No. 8, but in the
piping and refining of oil purchased
In the Salt Creek and other nearby
Wyoming fields.
Other Sinclair Companies.
The Sinclair Crude Oil Purchas-
ing Company was incorporated in
Delaware February 5, 1921, about a
year before the Mammoth, for the
purchase and storage of Wyoming,
Texas, Kansas and Oklahoma crude,
oil, and on February 5, 1928, was
reported to own 30.O00,00O barrels
in storage. The Standard Oil Com
pany of Indiana owns one-half Of
the $35, 100000 capital stock OF the
Sinclair Crude Oil Purchasing Com
pany.
The Standard Oil Company also
owns one-half of the $28, $500 900
capital stock of the Sinclair Pipe
Line Company incorporated in
Maine, but operating in trans-Miss-
issippi territory and connected up
with standards monster refinery
at Whiting, Ind. It was admitted
before the Senate Public Lands
Committee that Sinclair had also
agreed to pay the Pioneer Oil Com.
pany, Standard Oil subsidiary.
100000 cash for worthless claims
in Teapot Dome.
SO taken altogether, Standard Oil
was assured Of at least a $3.50
split on Teapot Dome profits be-
Iore the Department of the Interior
acted on the Sinclair leases.
The Elk Hills Deal.
FIVE weeks before Secretary Fall
leased Naval Petroleum Reserve No.
L, popularity known as the Elk
Hills field, in California, to Ed
ward l.. Doheny, he surrendered
Zee title to the now famous Section
80, directly in. the center of the
reserve, and Section 16, T 31S., r.
z4E, lying on the southern boundary
OF the reserve to sthe Standard Oil
Company Of California, which, ac-
cording to estimates before the Sen
ate Committee, has already taken
$lOO'OOO,OOO worth Of oil from Sec
ton 30 alone, with no end in sight.
Continued on Page 2, Column g.