Word: oils
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Dates: during 1930-1939
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...conclusive evidence that the President's tax message had started a great gun-beating stampede among the U. S. wealthy. The biggest gifts reported for the four-month period were made before his message: In March John D. Rockefeller Jr. gave away 85,000 shares of Socony-Vacuum Oil valued at $1,090,000; in May Charles S. Woolworth, 20,000 shares of F. W. Woolworth valued at $1,200,000; Frederick B. Rentschler, 20,000 shares of United Aircraft valued at $270,000; Samuel Zemurray, 1,500 shares of United Fruit valued at $130,000. And whether these...
...temerity in trimming the elder Morgan in a stock deal, John W. ("Bet-a-Million") Gates was "exiled'' from Wall Street about 1900. One year later oil gushed in Texas and Gates plunged heavily in a struggling little business known as Texas Co. To sell its oil abroad, Texaco bought up a fleet of tankers. One of the tankers was captained by a blond, husky stripling of 22 named T. Rieber. Captain T. Rieber would not even commit himself as to his birthplace, which was in Sweden, or his first name, which was Torkild. This close-mouthed independence...
...brusque Arkansan named M. Frank Yount and a florid West Virginian named Thomas Peter Lee started Yount-Lee Oil Co. at Beaumont, Tex. On an original capital of $50,000 they spent 13 years drilling in Texas and Louisiana without spectacular success. Then suddenly, in 1926, Yount-Lee made national news by rediscovering the famed Spindletop Field near Beaumont. Everybody supposed that Spindletop had been drained dry. Yount-Lee opened a rich new producing sand by drilling deeper than anybody had had the courage to go before. Later the company discovered and developed the High Island Field in Galveston County...
...Morrow. In Lawyer Morrow's checking account at First National was a credit of approximately $46,000,000. Among the eight stockholders he distributed a handful of checks, also totaling $46,000,000, drawn on his account. In return he received all the stock of the Yount-Lee Oil Co. at a price of approximately $2,190 per share. Biggest check went to Pansy Yount, who owned 6,800 shares. Next biggest went to a Beaumont automobile dealer named Emerson F. Woodward, who had 5,000 shares. Founder Lee, now Republican State Chairman, owned 3,000 shares...
Lawyer Morrow was acting as agent for Stanolind Oil & Gas Co. of Tulsa, subsidiary of Standard Oil of Indiana. Standard of Indiana wanted Yount-Lee to assure an adequate supply of crude oil for the Texas refineries of another subsidiary, Pan American Petroleum & Transport. So Lawyer Morrow sold the physical assets of Yount-Lee Oil to Stanolind for $42,000,000, keeping real estate, notes and accounts receivable of approximately $4,000,000. He expects to make his profit on the largest cash deal in Texas history by liquidating these assets...