The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-09-27
GRAND JURORS !.
S|FT DEALS BY |
VANDAGR|FFT
Sale of Contract Units for
Oil Well 'Rejuvenation'
Under Probe.
$4,000 IS INVOLVED
State Securities Commission
Investigation Called for i
Questioning: a
$4,000 is INVOLVED

"A
The sale of contract units" ap-
proximating $4,000 for "oil well re-
juvenating" by Virgil Vandagrifft,
board of works president; S. S.
Wellsmere Of Indianapolis, and D.
S. Taylor of Kentucky, is being
scrutinized by the Marion County
grand jury, it was learned today,
with the calling of Earl Coble, State
securities commission investigator,
as witness.
Coble was before the Jury an hour.
Prosecutor William H. Remy and
Special Prosecutors Emsley w.
johnson and John w. Hoffman
then went into private conference.
Although subpoenas have not been
issued, 1t is understood that Price
Howard, 4915 Park Ave; Charles d.
Lockman, -729 N. Noble ST., and
Frank Wood, 1909 Brookside Ave,
may be called to tell what they
know of the alleged trust agree.
ment."
Promises that the "machines
would rejuvenate oil wells were made
to prospective purchasers.
. Rejuvenation' Guaranteed
"This machine will rejuvenate
an oil well to such extent that al
though production has dropped to
five barrels day we can bring it
back to normal was a statement
which induced me to buy" said
Lockman today.
The units were sold at $3.50 each.
according to Coble and no permis-
sion has been secured as required
by law.
I'VE were promised our money
back" said Lockman, "and SIS for
each well treated per unit"
I had two units, SO I was to get
$40 from the money received for
each well treated, They further
tod me that they would treat one
well each day. They built one ma
chine, l guess"
The machine, stripped of all
technical description, was an cleo
trically heated ball, lowered and
raised in the shaft of the weel. It's
purpose, according to promotion talk,
was to heat the parafin coating on
the sides and bottom of the well to
such extent that oil again could flow
freely.
Many Units Sold
Although reluctant to discuss the
situation, because of the likelihood
that they e-''ould be called to tell
this story to the grand jury, The
Times has learned that between
thirty three and tl1irty-four units
have been sold by the promoters
named throughout the State.
Lockman states that Vandagrifft
personally sold him the units for
which he paid $500 and that Vana-
grifft acted as trustee for the money
secured by sale of the units.
Wellsmere and Taylor acted as CO.
trustees with Vandagrifft, he said.
I have been advised not to dis
cuss the matter in advance of a
call before the grand jury" was
Woods only comment.
The mysterious meeting" in the
Office o. Police Chief Worley on the
eve of the conclusion of the Duval1
trial. which brought caustic COM
ment from Prosecutor Will H. Remy
In cross ss-eXamination of Frank
Cones, board of works member.
dealt with this stock selling.
Discussed Resignation
The Times is in possession OF au-
thentic information which shows
that Cones, Worley, Fred w. Con-
nell, board of safety president, and
others did not discuss the DuvalI
trial at that meeting, but conferred
on the advie ability of asking Mayor
Duvall to ask for Vandagrifft's res
ignation.
From reliable sources The Times
learned that Cones stated that he
would refuse to serve on board
much longer where its president is
under investigation"
There are lots of other things
that I dor't like, too,'' a friend
quoted Cones as having said in the
course of rather heated remarks.
Vandagrifft's name also was con-
nected with the sale of units" ir
the Ken-S<w Petroleum Co., which
held properties in Arkansas, as
shown exclusively in The Times.
Sale of these units has been
stopped by the State securities