Mining and Oil Promotionals Featuring Texas and Additional Documents Detailing Potential Stock Fraud Perpetrated by Texas Petroleum Company

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American Historical Ephemera and Photography

By Cowan's Auctions

Nov 19, 2020

Set Reminder 2020-11-19 10:00:00 2020-11-19 10:00:00 America/New_York Bidsquare Bidsquare : American Historical Ephemera and Photography https://www.bidsquare.com/auctions/cowans/american-historical-ephemera-and-photography-5894
Cowan’s Auctions, a Hindman Company, is pleased to present the November 19 Fall Auction, featuring over 400 lots of historically significant photography, manuscript material, artwork, and other ephemera dating from the 18th through the early 20th century, including the Civil War. Cowan's Auctions dawnie@cowans.com

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• Lot Description
  Lot of 11. Includes a broadside and 2 promotional booklets for the Chicago National Mines Development Co., Ltd. selling stocks and promoting their oil fields and land holdings in Texas and British Columbia, all ca 1902. Includes: Promotional booklet. 32pp. 6 x 9.25 in. Chicago: N.p., [1902]. Illustrated. Original maroon wrappers gilt. For the Chicago National Mines Development Company, Ltd., promotes "Texas Oil Fields" and "Fortunes Made in Oil."  Broadside. 10 x 26. [Chicago]: N.p., n.d., ca 1902. Advertising stock for the Chicago National Mines Development Co., Ltd. Lists properties in Gladys City, Texas; the Dutch Hill Gold Placer Claim in British Columbia; the Carthage Group in Ymir, BC; zinc and manganese lands in Missouri; and the Silver Lake Gold Mines in Ymir. Verso with article "Latest Information from the Texas Oil Fields." (Creases, small loss at crease). Promotional booklet. 16 pp. 8.75 x 11.5 in. [Chicago]: N.p., n.d., ca 1902. Illustrated. Original illustrated blue wrappers. For the Chicago National Mines Development Company, Ltd. with cover image of a "gusher." (Covers detached, some creasing). [With:] A small archive of 8 typed letters and documents that tracks the attempted swindle of S.G. Tressler of Bellefonte, PA, a stock holder in the Allied Oil Corporation. Tresssler originally bought shares in 1921, and in Oct. 1922 he received notice from the North American Transfer & Surety Company that his shares would be exchanged for stock in a new company, Texas Petroleum Company along with a printed form. He then received correspondence in December 1922 on Texas Petroleum Company letterhead acknowledging Tressler's ownership of stock in the company, then notifying him the stock was being exchanged again for shares in another entity called the Standard Petroleum Trust, assuring him that this trust was "practically the same company." Contemporaneously, he received a warning form the Post Office Inspector warning him of fraudulent attempts to divest the shareholders of Allied Oil by the Petroleum Producers Association. This entity was formed and operated by disgraced Arctic explorer Frederick Cook in order to take o ver stock of failing oil. companies. The final item is a card from Allied Oil dated February 2, 1923 announcing a new oil strike and begging shareholders not to accept offers to exchange their stock .THe company was certainly ripe for the type of fraud Cook was attempting (and was eventually convicted of) - at the end of 1922 the value of its stock had fallen to one cent per share. Contains: Typed letter. From Allied Oil Corporation to S.G. Tressler. New York, April 22, 1921. 1p. 8.5 x 9 in., on Allied Oil Corporation letterhead. Enclosing 25 shares of "Class A Stock." Typed letter. From North American Transfer & Surety Company to the Stockholders of the Allied Oil Corporation. New York, October 28, 1922. 1p, 8.5 x 11 in., on North American Transfer & Surety Company letterhead, with envelope. Proposing conversion rights for Allied Oil Corporation stock exchanged for stock of Texas Petroleum Company, 1 to 10. Conversion rights form for Allied Oil Corporation Stockholders. 8.5 x 7 in. Yellow paper, not filled out.Typed letter. From J.S. Swenson, as Post Office Inspector to Stockholders of the Allied Oil Corporation. Fort Worth, TX, Dec. 14, 1922. 1p, 8 x 10.5 in., on Post Office Department, Office of Inspector letterhead, with envelope. Notification that a W.P. Welty has been soliciting stockholders of the Allied Oil Corporation to send a proxy to Mr. Welty. 3 typed letters signed. From G.G. Gilroy?, as Manager, Executive Department, to S.G. Tressler. New York, 11, 14, & 22 Dec. 1922. Each 1p., 8.5 x 11 in., on Texas Petroleum Company letterhead. Clarifying the nature of the newly exchanged stocks. Postcard to the "Stockholders of Allied Oil Corporation." Mineral Wells, TX, Feb. 2, 1923. Addressed to Samuel H. Tressler of Bellefonte, PA. 5.5 x 3.25 in. Informs stockholders of a new well and warns them of exchanging their stock or using proxies. 
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