Business: Californians Shocked

"One of California's outstanding citizens," was what San Francisco's Mayor James Rolph Jr. called James A. Talbot of Richfield Oil Co. in 1928. An outstanding act of Outstander Talbot had just been the offering of his private tri-motor airplane to Mayor Rolph and his visiting friend, Mayor James John Walker.

Last week Citizen Talbot went into his long-rumored bankruptcy. For one day it seemed that Mr. Talbot was merely a businessman whose strength had been weakened by overexpansion, who was left floundering in Depression's flood. But the next day California Corporation Commissioner Raymond...

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