The DalTex Building is a subject of much discussion in regard to the attack on JFK – a frequent topic of that discussion is a company located in the building named Dallas Uranium and Oil (DUO).  Several of us have spent considerable time tracking down information on the company (still, misinformation about it shows up in many of the entries produced by internet searches) and I put a good deal of the real records of the company into SWHT.

One of the key questions about DUO (other than where its offices were actually located in the building. It turns out it actually was no more than a phone number listing for the office where Morty Freedman Inc and Marilyn Belt were located (Freedman was involved with DUO) with Marilyn Belt being the real company.  Its office and space was on the sixth floor although conversation with Freedman’s son suggests that on occasion Freedman rented or used space on lower levels such as the second and third floors.

DUO fooled us all for a long time since it did not show up as a Texas Company in any records – ultimately some good researchers located it as a Colorado registered company (over the years it would have three legal incarnations under three different names). In evaluating the companies business records, it becomes evident that its unlikely it was ever a “real” business entity and the question arises as to whether it ended up being some sort of scam (it had no revenues but did multiple stock issues) or could possibly have been some sort of front?

The good news is that in this case, time and further searches, seem likely to have resolved that question for us.  As it turns out, DUO (founded in 1953) actually did drill and own at least one oil well – in Kansas. The well, in Chautauqua County, was drilled in September 5, 1957 and declared dry, plugged and abandoned on Sept 30 of that same year.  Lack of success didn’t seem to discourage the DUO management however as they issued an additional 48,000,000 shares in 1961.

The clincher in judging DUO seems to be that after two name changes – one to International Airlines and the next to Communications Cybernetics, in December of 1972, he SEC office in Fort Worth filed a civil injunction in Amarillo Texas District Court against Communications Cybernetics Corporation and its officers for violations of federal security loans in the offer and sale of stock – as well for false and misleading statements made by those officers in the sale of its stock.

The names of the various iterations of DUO are still fascinating – I suspect the whole thing would make an interesting story – but in the end it looks like the bottom line has to do with stock scamming.  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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About Larry Hancock

Larry Hancock is a leading historian-researcher in the JFK assassination. Co-author with Connie Kritzberg of November Patriots and author of the 2003 research analysis publication titled also Someone Would Have Talked. In addition, Hancock has published several document collections addressing the 112th Army Intelligence Group, John Martino, and Richard Case Nagell. In 2000, Hancock received the prestigious Mary Ferrell New Frontier Award for the contribution of new evidence in the Kennedy assassination case. In 2001, he was also awarded the Mary Ferrell Legacy Award for his contributions of documents released under the JFK Act.

6 responses »

  1. andy b says:

    Another entity that received a share of Dallas Uranium and Oil is Lawrence, KS Journal World. Maybe Hoover got his the same way?

    • That’s a new one on me, do you know how they came up with a share of DUO?…and was it a single share?

      After thinking about it for a bit, I do recall that the one will that DUO was ever actually associated with – a dry hole – was in southern Kansas. Perhaps there is a connection there to the Kansas stock.

      • andy b says:

        Well, the Lawrence, KS Journal World states that the ten cent single stock was a gift from Palmer Hoyt, publisher of the Denver Post. A promotional offer? Other old news articles show other wells that were drilled by DUO in Texas.

        Article on who owned DUO (in 1955)

  2. andy b says:

    Here’s an article about Malcolm E. Wallace which I think is a cover story while he was in CIA and maybe
    Skull and Bones?

  3. andy b says:

    Here’s another one from the Long Beach Press Telegram where Malcolm Eply also received a DUO ten cent stock from Hoyt of the Denver Post. Maybe Hoyt was part of the stock scam? Out of 40.3+ million shares someone stood to make $4.3 million.

    DUO well in Texas…

    • Great material, certainly if you look at the whole history of the company it has more the feel of a stock scam than anything else. The Kansas well certainly never panned out – not sure if they did more than stake it and file. The Texas well looks pretty much the same.

      Given that its name and initial ownership, it was strange to find it created as a legal entity in Colorado but that may have been part of the strategy, making it a bit harder for investors or anyone else to research.

      Your find may well explain the Hoover stock certificate though – it appears Palmer Hoyt was sending them as gifts to a number of people. Hoyt may simply have been doing it to promote the State, innocently enough. And of course promotion is always very important in stock scams, especially when there is no sign that DUO ever was really seriously in business, nor in uranium.

      This doesn’t tell us all the ends and outs but it certainly suggests that DUO certificates may have been sent unsolicited as gifts to many people and that would indeed explain why one shows up with Hoover…good work!

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