Word: ochsner
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Dates: during 1930-1939
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...establish this contention in California was another matter. Moreover, the embattled wives by this time were being flanked by an outsider. It looked as if the entire kitty might be snatched by one of Ochsner's old partners, Frank C. ("Pat") Daugherty, a big, breezy Pasadena oilman who had been properly done in by the vague geologist...
...Daugherty was by no means the only outsider who laid claim to the Kettleman Kitty. As far back as 1910 Ochsner had been wildcatting on the public domain around Kettleman. Ghosts from this early period arose in the courts by droves. Some 50 people from around Fresno, Calif., known as the Morrow Group, sued for 50% on the ground that they helped Ochsner assemble the claims. Another roup on the same ground asked for 20%. An Ochsner wildcatting promotion called Medallion Oil Co., which lost $100,000 for number of Wall Streeters including Bernard Mannes ("Barney") Baruch, sued not only...
...Federal oil land leasing law of 1920, which washed out old claims. As soon as that went into effect Oilman Pat Daugherty, who learned about leasing in Texas, hopped into his big old Cadillac, turned up the road to Kettleman, staked out nearly four square miles identical with Ochsner's old claims. He offered to ile them in Ochsner's name in return for a 10% interest, which was legitimate practice, Daugherty knowing land office ropes which Ochsner did not. Indeed, Ochsner tried to file his own claims-after looking at Daugherty's papers-but the land...
Both Daugherty and the Ochsner wives were willing to hedge against that decision. So last month the courts approved a settlement whereby the Ochsner heirs got 60%, Daugherty 40% of the royalties, past and future, derived by the Ochsner estate. The estate meanwhile had settled with the private holding company which holds the royalty rights at the moment, the estate receiving 42% of the total royalties. The balance goes to the heirs of an old Ochsner crony, R. H. Arnold. If Daugherty is sustained in the appeal from his victory the Arnold interest will go to him also...
When the Daugherty threat grew serious the embattled Ochsner wives formed a united front, agreed among themselves on an intramural settlement. Wife No. i, anxious to see that her husband's children were taken care of even if they were not her own, was satisfied with 10% the family's share. Wife No. 2 took with another 20% each for her two children. Wife No. 3 got 25% with another 20% for her child. Though several suits are still pending by outsiders, San Francisco's Judge Frank H. Dunne last week decided that it was high time...