The Winslow mail., 1926-07-02
Charges Squelched
In N. Y. Against
Great Basin Oil Co


the attack made on the Great Ba-
sin Oil company by New York par
ties, which after full investigation
had been squelched by the author
tiles there, we feel that some sort
of explanation should be made for
the benefit of the stockholders and
general public With this end in
view the Holbrook Tribune has Sc
cured the following statement from
the local officers of the company,
which indicates upon the face of
the charges that they were false
and maliciously made:
Concerning the Eastern Situation
After full conference with the
attorney general of the State of
New York, the officials of the
Great Basin Oil Company announce
that the temporary injunction OBJ
tanned against the company in early
May has been so modified as to
permit the company to proceed
with its business in that state.
In meeting the charges of mis-
representation by statesmen, affida-
Wits were presented from more
than three hundred stockholders
who said that they had never heard
the statements as alleged. A cur
ious fact appeared, namely, that
the value of the Great Basin hold
ings was conceded. Further, there
were no complaints from stock
holders. So this was clearly case
where outsiders were trying to
throw monkey wrench into the
machinery.
The attorney general was dis
posed to be fair when he had all
the facts before him, hence, upon
his recommendation the court mod
flied the order so as to permit SELL
ing of stock to be resumed in New
York state.
In connection with all this, a
number of libelOuS articles appear
ed in the newspapers, and the New
York attorney of the Great Basin
Oil Company has advised the Off
cials of the company that they have
clear ground for libel action. But
DR.. S. Earl Taylor, the president of
the company, dismisses the matter
with the remark that 1--WE are too
busy making history to do our talk
ing now. We will say what we
have to say later"
That the statements that have
appeared in the papers are false
was shown by the auditor in a
statement which he made at AL
bany, N. Y, where he presented an
affidavit setting forth the fact that
since the price of stock was raised
from ten to twenty dollars DR..
Taylor received none of it, but ev-
cry dollar went into the hands of
the Great Basin treasurer and was
administered by him, as clearly
shown by the books. According to
this statement, DR.. Taylor did not
even receive enough to cover his
necessary travelling expenses while
on company business, and during
this period he received no salary
and no commission or other form
of compensation. On the other
hand, he gave freely of his time
and energy in the interest of the
stockholders.
While DR.. Taylor takes this atti-
tude his many friends in Arizona
and throughout the country are ex-
pressing the greatest indignation
that a man of his standing and
character should be subjected to
this sort of libelous attack. The
fact that the court has modified
the order and permitted the COM
pany to resume it's business in
New York state is, of course, a
sufficient answer to the complaints
which have been made by outside
parties. Everyone on the ground
knows that the Great Basin Oil
Company has large and exceeding
ly valuable holdings; that it is car
rying on its business in highly
businesslike and honorable way;
that it's officers are men of integri-
ty and ability. The only conclusion
we can draw is that the company's
holdings are so valuable that some
outside but deeply interested par
ties are trying to gum up the game
for reasons which can easily be
imagined. But with the other sew
eral hundred loyal stockholders
standing pat in the face of the re-
cent attack upon the company and
it's officers, and with the develop
ment at the we'll going steadily for
ward, all here believe that the
Great Basin will emerge with fly
ing colors and with a lot of great
advertising which will be increas-
ingly valuable as the company's
business and work become more
fully known.