"Owning a bank was like owning a license to steal"

Adapted from: Jack Donahue's, Wildcatter, New York: McGraw - Hill Book Company, 1979.

Page 171:

"Owning a bank in rich, growing Houston was like owning a license to steal."

Papges 179 - 180.

"In the late 1920's the three great marketers of foreign oil formed a cartel, hoping to wax fat on the world's growing demand for oil.

"The three giants decided to sell cheap oil to Europe and other areas outside the United States at United States prices.

"In addition to charging United States prices for the cheap oil the companies decided to add a fake shipping charge as if the oil had come from the [U.S.] Gulf Coast.

"For the scheme to work, production in the United States had to be controlled.

"So the scheme worked."