Salt Lake Tribune | 1918-11-24 | Page 8 | Charge Sale of Fraudulent Stock

CHARGE SALE OF I FRAUDULENT STOCK NEW YORK, Nov. 23. Charles A. ! Dellale, at one time treasurer and chairman chair-man of the finance committee of the; Tuxpam corporation, was arrested late this afternoon on a ehargo of participating participat-ing in the sale of fradulent stock. His bond was fixed at ?2"00 and he was released in the custody of his counsel until Monday morning. The Tuxpam corporation, according to information secured by the government, was organized under the laws of Delaware Dela-ware with a capital stock of $1 .000,000. This later was increased to $2,OUO,000, then to $5,000,001) and finally to $20,-000,000. $20,-000,000. The entire stock. It was said, was disposed of to investors in Philadelphia, Philadel-phia, Chicago and other cities. K. J. Fchabliiz, a chemical engineer, who investigated the property of the company, is said to have told the authorities au-thorities that pictures of oil wells used in the Tuxpam corporation's literature were those of wells owned by other oil companies. j