James A. Talbot

James A. Talbot was an American businessman who became President of the Western Pipe and Steel Company of San Francisco, California in the 1910s, and who later became head of the Richfield Oil Company based in the same city. Talbot was interested in aviation and in the 1920s helped set up Western Air Express, an aviation company which instituted the first regularly scheduled passenger airline service in US history.

Talbot made an estimated $20,000,000 fortune in the 1920s but after the 1929 crash, his company Richfield Oil went into receivership and Talbot declared himself bankrupt. He was accusing of falsifying company records and misusing company funds for his own and his family's benefit, and in 1932 was jailed along with two other Richfield company executives for grand theft.

References

* [http://www.time.com/time/magazine/article/0,9171,741874,00.html?promoid=googlep Californians shocked] - "Time" magazine biopic on James A. Talbot, dated June 22 1931.
* [http://www.time.com/time/magazine/article/0,9171,743892,00.html Deals and Developments] - "Time" magazine article dated June 27 1932.