Poy TRE ARWAY

Hosp. #37,
Waukesha, Wisconsin,
Nov. 17, 1921. —

Surgeon (R) Walter L. Treadway,
Chief, Neure-Psychiatric Seotion,
U.S. Public Health Service,
Washington, D. 0.

Dear Dr. Treadway:

I have your letter of November 15, 1921, concerning the rumor that one ef
the Doctors on the Staff of this hospital is selling oil stook te patients.
Concerning this you are informed as follows:

- About three weeks ago I heard of the formation of an oil company in which
some of our personnel were interested. About three days ago it was brought te
my attention that a patient had pledged himself to subscribe for some of this steck.
Since then I have been revolving in my mind what should be done about this and today,
after receiving your letter, I am issuing written instructions forbidding any of
the personnel of this institution from soligiting or selling of] stocks. I ine
vestigated today the situation in relation to thie oil SenTOy and gathered seme,
informatien, which is given below.

- The information given below was given y a patient of this
hospital who is being discharged this date and fr » & former patient
who is now empleyed by us. | is the promoter of the company. It
seoms that he and another patient, ML have lived in an oil country and
have beth interested themselves in this company, but most of the work is being done
by MoDonald, who is the first vice-president and field manager of the concern.
The company was organized four or five weeks ago. It is known as "The Disabled
Wer Veterans’ 011 and Gas Company" and is inoorpereted under the lews ef South
Dakota. They have leased about 4500 acres of oil bearing land in Seuth Dakebe.
Several weeks ago I was told ne had been elected president of the
_@empany. He is now on leave. gays that he selected this president
because he was supposed to be honest and experienced and did not ask for any —
‘premetion steck’. Dr. Nerris is probably infected with the oil fever because I
know that he owns some stock that is paying him a dividend.

Our bacteriologist, Mr. Young, and a Miss Temmey, a sister-inelew of Dr.
Weigel, are directors. Missa Temmey is about 20 years old and haile frem Seuth
Daketa or Montana, I forget which. I understand from tnt
all the officers of the company have put in 6300. It seems that some of the
personnel of the hospital have been appreached and that several ef them have ine
vested money in the concern. EE ol: tella me that abeut twelve patients
had pledged themselves to take @ varying amount of steodk,. He did not have their
names ready at hand, but premised to semd them when he reaches Seuth Daketa, The
money they have invested, he says, ia in the form of checks in a asfety deposit
bex and any of them who want it back can get it as the checks have not yet been
eashed and will not be until certain legal formalities are complied with. — When I
find out whe these patients are I will talk te them all and tell them what
has said concerning their investments. However, it is possible that they are es

 
 
oe

enthusiastic about the project as he he and that most of them will elect to stay
ome

From what I can hear about this company it is prebably about as reliable as
most any other o11 company that is prometed and the officers are sincere and
honest. The only person that I would be inclined te doubt would bel but
there is no special reason in his conduct or history for this. The suspicion
resta upon the mere fact that he ia a promoter and seems to be the only ene whe has
access to the money. No one of the officers in this company is receiving «
salary. .

When ER returns I will have a talk with him as to his activities and
in the meantime if you have any suggestions to make I will be glad te regeive
them. I believe that he has net been soliciting among patients, but it seems |
that PE hes done se.

Very truly yours,

Lawrence Kolb,
Surgeon in Charge.