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Michael Clark

JDF: That one JEH share of Dallas Uranium and Oil

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Posted (edited)

This Factoid is floating around on a few threads:

"JEH owned a single share of Dallas Uranium and Oil". DUO owned space in the Dal-Tex building.

Larry Hancock posted that this has been straightened out and said that it's not exciting. I'm going to sift that out here.

 

Edited by Michael Clark

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Posted (edited)
3 hours ago, Michael Clark said:

I would love to know more about that single JEH share of DUO.

From the following thread:

" It probably means something - though God knows what - that J. Edgar Hoover apparently owned ONE lone share of stock in this dubious company.

 

 

Edited by Michael Clark

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3 hours ago, Larry Hancock said:

Michael, you should be following my blog...  I've researched both the DalTex and Duo in great detail over the years and like many things from the earlier  years its not at all as mysterious as it was when I and others started the quest.  Its discussed in the 2010 version of Someone Would Have Talked and pretty well resolved in a series of blog posts from earlier this year. 

The short answer, which is really no fun at all, is that the stock most likely got to Hoover via a publicity stunt by a Colorado official promoting Colorado companies (which Duo was legally) by mailing single copies to a number of prominent people around the country.  It appears they may have picked Duo because of its exciting focus on both oil and uranium and because it had an exceptionally attractive stock certificate.  That in itself was most likely because the company itself was largely not much more than a stock scam - a huge amount of shares with no significant company assets, a couple of dry wells and no income - so it needed all the marketing clout it could get.

As with many of these old leads I was hoping for much more, it was a great mystery and sucked up immense amounts of time...sigh.

 

 

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From Larry's blog entry:

"Still, that leaves us with yet another mystery, just how, who and why, did one share of DUO end up in the final effects of FBI Director J. Edgar Hoover???"

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Michael, I think this is repeating myself but these days I'm never sure....the most likely reason for Hoover having a single share is that he was one of a number of well known state and national figures who received a single share as a promotional mailing - if you dig far enough on my blog you will find some great research by one of my readers discussing that mailing program, intended to promote new Colorado businesses...why was DUO filed as a business in Colorado, that frustrated us for quite a time until Alan Kent tracked them down.  My guess was that it was to keep it out of state to conceal some of the stock multiplication sales that were being carried out.  Its important to note that DUO itself didn't bring attention to itself in the promotional mailing, it was a Colorado promotion of business in the state.

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