Word: reeser
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Dates: during 1940-1949
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Stockholder Rich was sore. He owned 17,382 shares of Barnsdall Refining which the plan reduced to 1,738.2 The stockholders whose proxies he held were in the same boat. Stockholder Rich told Barnsdall Refining's President Oscar L. Cordell and Barnsdall Oil's President E. B. Reeser what he thought of the deal. They talked back. They pointed out that SEC had told Barnsdall Oil to consider the refinery a subsidiary and absorb its losses or divorce it altogether. Divorce would have meant bankruptcy. They showed him the refinery's books and properties. Last year Barnsdall...
...home he faced a new worry: how to explain his about-face to the stockholders who had trusted him with their proxies. Fortnight ago he rendered his apologies. Into Manhattan's Bankers Club for lunch trooped 85 Barnsdall stockholders and well-wishers. Honor guest was President Reeser. Host was Stockholder Rich. After oysters, turkey and ice cream he explained his conversion. His fellow stockholders digested, applauded, forgave...