New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-05
Financial.
Financial.

want to say that the indications point strongly to
the cOnSummatOn of the proposed transaction. which
MEANS a few words. that while there will ques-
ton of change of administration policy involved the
rowher Corporation Will forthwith provided with
all capital for continued developments and
acquisitions As natural result OF this the King
Crowther Corporation will take it's place beside that other
OilprOducing corporation of which ! president,
the Norton oil Company. financed proposition and
the stock will be withdrawn from public offerings The
Norton Oil Company completely financed last October,
and its stock then withdrawn from the market.
And I want to say that there is big news coming
about the ngCrOwther Corporation right along in the
near future. More good news printed about it in
1906 than about other olprOducng company in the
United States and thus early i'll the year go record
with the prediction that equally favorable things will
tnue TO happen and be made public about 1t during 1907
There is big news coming, not only concerning the
moeaOs developments and acquisitions going in the
North Lima field and in fact throughout its entire hold
lnSs extending from end to end of the mandiana fields
but concerning great progress in the main original hold
ings in southwest Texas. Big IS coming about oil
and about kaoln Big news is coming about ranspora-
ton ana colonization enterprises through which the posi-
ton of the KingCrOwther Corporation will be vastly
strengthened and its stockholders enriched through their
holdings.
The KingCrowther Corporation controls AGA pro-
ducing wells in Ohio and Indiana, wells,
with production Of 80 barrels and the other Of 100 bar
res daily having been brought in or Thursday and Fri
day of last week the North Lima field Findlay,
Ohio, where oil sells at 92c barrel &c barrel in
excess of South Lima oil The discovery of remarkable
oil pool in that region has resulted King CrOwher
Corporation acquiring number of additional leases there
ana bringing IN forthwith thereon group OF large pro-
ducng wells, of which has steadily sustained daily
production Of 200 barrels.
The result of these remarkable activities together
with the vigorous and efficient handling properties
has been that the CTOwther Corporation in dead
mldwlnter-at time when many OllprOduc1ng companies
practically cease operations and substantially all of them
OF necessity materially reduce their Outpu-INCREASED
Its production thousand barrels month With the
winter largely past there is why the King
CrOwther Corporation irrespective of its active and
persistent continuance of welldrling. should go
increasing its production throughout the future
Fourteen valuable test wells form the basis and the
nucleus Of its developments In the southwestern Texas
field where controls approximately 10000 acres of land
on which are locations for at least 5000 OIL wells while
on its Ohio properties has locations for upwards
of 1000 oil wells.
The former operators of its properties in Ohio and
Indiana are under contract TO bring in and deliver with
TO the King CrOwther Corporation % additional
wells of fresh production by July st which will put the
King CrOwther Corporation. before that date,
spectve of weldrilng in Texas its account, in
control OF precisely 900 oil wells representing cost of
drilling and equipment as all Oil men know, OF from
$1,000 TO $4,000 apiece.
Developments in the Texas field, where the value Of
the properties of the King CrOwther Corporation
greater than that of its Ohiondiana possessions and
where the great main destiny of the corporation is to be
worked out are to he carried forward now with renewed
and greater impetus than My preparations
complete for visiting the Texas field and placing the de-
velopment work there on stronger program han ever
drilling wells in blocks of ten and urging forward devel
opment along many other lines. shall go there and
remain until there is big progress to report.
The King Crowther Corporation remains at the orig
mai figures of its capitalization $3O0OOOO notwhstand
ing in my opinion its original Texas estate would justly
merit capitalization of not less than S5O0OOO and it's
OhoIndiana acquisitions would justify an additional
It's approximately 10000 acres of OIL mineral and.
agricultural lands in AtasCOSa, McAIuen and Live Oak
counties Texas in Delaware, Randolph and Wells
ties Indiana and in Van Vert Allen and Hancock
ties OhiOCOnsstng Of the of CrOwther Texas its
residences and industries its 900 producing wells 1t will
have upon the flment OF present contracts its half
millOndoar investment in machinery equipments and
other live assets and its kaOln and coal depOsswoud
not be excessively capitalized at $s000OO0
And deliberately place myself record predicting
that with the continued development of the properties and
their production that the King rOwher Corporation could
easily distribute dividends at the rate of Sc $SOOO
believe will day distribute them at the rate OF
than equivalent 1c-On S3O00O00 the
time maintaining surplus from its earnings suti
Client meet then all the demands Of even the
conservatism corporation management
And in doing this it would scarcely more than equal half
the maintained for the past Is by the
Standard Oil Company. which has distributed in that
period about S500OOOOO in dividends To its stockholders
record probably without peer and illustrative of the
splendid profit sharing possibilities of the oil industry.
The King CrOwther Corporation ranks the largest
and such second only to the Standard OH Company
corporation by which all other corporations Judged
they approach recede from its earnings and auence
production King CrOWther Corporation i'm the years
but there must he increase of from 25Fo 10
$50 that will eventually result in the price at which 1t can
market product Oil stocks above ground are running
low and exhaustion of the surplus plainly evident
distant future With demand increasing faster
supply the farsightCd investor nothing but
high prices prolonged prosperity and increasing dividends
for all well managed companies that can produce oil for
the world to
The month just passed increase Of between
90 Sc the value of the oil product of the King
Crowther Corporation and that without the slightest
OF getting out the product In this cOnnec
ton point that the King CroWther Corpora
ton reason its magnificent organization and ample
modern equipment, is probably producing oil with
greater economy and less cost than any other oil pro-
ducing company in the entire Lima Indiana fields.