Los Angeles, Mar. 31.
Mr. Sheridan C. Lewis, former president of the Julian Oil Ca. which provided a sensational $10%, (000,000 crash in May, 1927, surrendered to-day and will be sent to the federal prison at MeNeil's Island at the end of this week on a sever-year-old charge of using the mails defraud, which had been appealed.
Lewis said that he surrendered to save 35 others, since by going to [prison he would not be available as Jo grand jury witness for further vestigations without extensive Tegal procedure.
Mr. Huron Fitts, district attorney, Jdcelared that this would hinder his renewed investigation into the case and prevent further startling dis closures.
Apr. 1.
'A secret indictment was voted by the grand jury to-day as a further development in the revival of the $10,000,000 Julian Oil Ca. expose.
This latest indictment is reported to charge ten men with con to violate the Corporate Securities Act, It is believed that all except two of those named were previously earlier stages of the wu, on other charges.
Meanwhile' Federal Judge James ruled that 8. C, Lewis, president of the company, would' depart for]
i's Island next week to begin)
prison sentence. Lewis gave himself up voluntarily in order to prevent the necessity for} testifying before the grand jury.
Apr. 2
By a court decision rendered to-day, Sheridan C. Lewis, former president of the Julian Oil Ca. Must stand trial' on additional charges before going to prison on the relatively minor conviction in feonnection with which he recently] surrendered, 'This is new development in the already highly involved affairs of the $100,000,000 oil concern the' collapse of which, in 1927, affected thousands of investors on the West}
When Mr, Huron Fitts, district attorney, reopened the Julian Oil Ca. ease recently and brought about, the indictment vf a group of new defendants with a threat of furth investigation reaching as far Shanghai, Lewis hastily surrendered on an earlier conviction against which he had appealed.
His surrender, and expressed intention to go to prison fas possible, was avowedly with the purpose of preventing a forced appearance before the grand jury. The prosecuting officer admitted that this move tended to break the investigation.
Today's decision meant that Lewis would encounter new difficult fes and a possibility was seen that, in order to prevent himself from receiving additional. fines and pri-gon sentences, Lewis might reverse decision not to "turn state's idence" and the district attorney' Investigation might receive expected assistance—United Press.
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