Globe Consolidated Oil Corporation stock certificate 1921 (Arizona)

Missouri based oil company whose shareholders were targeted by a swindler. Awesome double vignette of oil operations. Issued and uncancelled. Dated 1921. Small edge splits top and bottom.  Measures approximately 11 x 8 inches.

Globe Consolidated Oil Corporation was incorporated 1920 in Arizona. It had corporate offices at 106 East 14^th Street Kansas City Missouri. Legitimate shareholders were taken in by a fraudster.

J.O. Galloway of Fort Worth exhorted owners Globe Consolidated Oil Co., to send their shares to Galloway and buy additional shares. Globe was promoted by Sutherlin Securities which as early as 1920 was accused of illegally selling stock.

 In August 1923 Galloway was arrested as he tried to cross the border into Mexico “on a vacation.” As reported in the National Petroleum News of August 29, 1923, he had not been deterred by the previous year’s government crackdown on oil stock fraud. He persisted in his specialty of “merging” stocks, i.e. soliciting from shareholders their stocks and additional capital to merge into the Galloway Interests.

Charter cancelled in 1926 for nonpayment of taxes.

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