Word: richfield
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Dates: during 1930-1939
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...agreeing to share it with silver-bearded Chairman Henry Latham Doherty of Cities Service Co., just as he got his great holding company, Consolidated Oil Corp., on shares with the Rockefellers in 1932. Oilman Sinclair's triumph was the acquisition of working control of Richfield Oil Co. in a reorganization whose long-drawn negotiations began as soon as Richfield went into receivership...
...company. Just ten months later, however, Harry Sinclair's new Consolidated Oil Corp. acquired control of Rio Grande with the help of Elisha Walker's Interstate Equities Corp. in a deal which has since aroused the curiosity of the Securities & Exchange Commission. Thus, at about the time Richfield was succumbing to overexpansion and mismanagement, Sinclair got his first sizeable foothold in the California market...
Meanwhile Richfield's 5,000 service stations and rich reserves had caught the eye of "Cities Service's Chairman Doherty, who bought large blocks of Richfield stock & bonds, offered to exchange Cities Service shares for Richfield shares, even paid Richfield's state gas tax when the foundering company's $85,000,000 book assets included practically no cash. Later, however, when the banking creditors' committee, bondholders' protective committee and unsecured creditors' committee were pondering a Doherty reorganization plan, Oilman Doherty looked into Richfield's books more closely, withdrew the plan and apparently...
Died. James A. Talbot, 56, onetime (1926-30) chairman of Richfield Oil Co. of Calif.; of heart disease; in San Francisco. He served three years (1932-35) in San Quentin Prison for embezzling $100,000 of Richfield funds...
...agency will continue to operate as Geyer Co. in Dayton, will be Geyer-Cornell in Manhattan. Besides Frigidaire its accounts include National Cash Register, Oneida Community Ltd., Hookless Fastener (zippers), Crowell Publishing Co., Tetley's Tea, Waco Aircraft, Sapolio, Hanan shoes, Eaton Papes, Richfield Oil Co. of New York...