Word: richfield
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...Sinclair borrowed a Fokker from his new Rio Grande company, flew to California for an oilmen's dinner in his honor. "Gentlemen," said he, looking brawny President Kenneth Raleigh Kingsbury of Standard Oil of California in the eye, "I am in California and I am in to stay." Richfield's next half-dozen abortive reorganization plans came alternately from Standard Oil's Kingsbury and Consolidated's Sinclair. As soon as the prospects seemed good for selling out to one company the other company would raise the bid. Sinclair's last offer...
Standard Oil of California nevertheless remained in the running until May 1935. when Oilman Sinclair cagily deprived Standard of its big incentive for buying Richfield by buying out Richfield's Eastern subsidiary. Richfield Oil Co. of New York. There followed a period in which the Doherty-Sinclair understanding awaited better days in the oil business and Richfield's able Receiver William Chester McDuffie continued to cut down annual losses in the face of excessive depreciation and depletion charges. Last spring, when Richfield was coming back to black ink for the first time since 1930, Harry Sinclair and Harry...
Approved last September by two-thirds of the bondholders and creditors and last week by long-suffering Federal Judge William Parry James in Los Angeles District Court, the reorganization provides for a new company, Richfield Oil Corp., to which Rio Grande will contribute assets of between $15,000,000 and $20,000,000. Underwritten by Rio Grande, by Consolidated Oil and by Cities Service will be an issue of $10,000,000 in debentures, available to Richfield and Pan American bondholders and creditors through subscription certificates given them along with shares of stock in the new company. Underwritten by Kuhn...
...plan, Harry Sinclair made one of his stage gestures. In court rose his attorney, onetime Secretary of War Patrick Jay Hurley, to say that since some of the creditors appeared to think that Mr. Sinclair wanted to dominate the new company, Mr. Sinclair was willing to withdraw from rehabilitated Richfield's board of directors. Expostulating gently, the re-organization committee hastened to assure Mr. Hurley that it very much wanted Mr. Sinclair on the board. Other board members will be President F. R. Coates and Vice President W. Alton ("Pete") Jones of Cities Service, President H. R. Gallagher...
...final gesture was also Harry Sinclair's. When Judge James last week found it beyond his lawful power to grant Richfield's reorganization committee more than $160,000 of its $381,000 five-year expense account, Attorney Hurley rose again, announced that Rio Grande Oil would gladly put up the difference...