The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1910-04-21
INDEPENDENT COMPANIES REAP
FORTUNES FROM LIQUID COAL
Enormous Revenues Drawn by the Successful
Concerns From Modest
Investments

for the sale of 100000 barrels at "a
cents per barrel The Standard later
extended the contract to $4,000, 600 bar
rels and raised the price to % cents.
This contract is stin being filed.
About three years ago the Peerless
in order to take advantage of the price
in open market, purchased properties
in Coalinga and Sunset, which with i'm
provementS amounted to close to $780,
600, yet this company has returned to
Its stock holders as dividends 1901 900,
an amount equal to more than $4,000
an acre on the entire $50 acre tract
originally held.
IMPERIAL'S GREAT RECORD
The Sauer Dough, a CoaIinga COM
pany, has made wonderful record as
a dividend payer. The company owns
only 80 acres and is capitalized for
100000 and to date has paid 40 divi-
dends amounting to SSH 303.5O
When the oil excitement in Kern
river was barely making itself felt.
j. j. Mack and j. NJ Keith, two Bakers
field bankers, hurried to the land Office
of the Southern Pacific railroad com
pany and purchased the entire section
SO. 2S-2S for $3.50 an acre. They or
ganized two companies on the $40
acres, the Imperial comprising $50
acres and the Thirty Three the $50
acres remaining in the southeast cor
dend No. IS of so cents per share max
ing s2.0OO.OOO it has paid it's owners
since organization. It's capitalization
is 100000 shares. The Thirty Three
has paid 5S dividends, the last being
80 cents per share. amounting TO 500
600. and bringing the total paid to
date to 100000. The two companies
have Melted their organizers more than
$4,000 an acre in dividends alone, all
operating expenses having been paid
on an investment of $3.50 an acre.
BERRY'S BIG STRIKE
In the McKittrick field the G. ]. oil
company, headed by Clarence j. Berry.
the successful Alaska gold mining man,
is one of the most profitable properties
in the state. 1t is a close Corporation
and the stock is not listed 1t has a
production of more than 50,O00 barrels
a month and is paying its owners more
than $4,000 a month. Berry, upon his
return from Alaska. became interested
in the McKittrick territory and at one
time owned practically the heart of
the field, selling all but about 40 acres
for $4,000. With his brother in law.
Frank Keller, the c.. j. oil company
was organized on this piece and the
returns have been enormous. Berry
is now extensively interested in the
Midway and in COalinga.
The Lucille oil company of the fam
Gus section at COalinga is another
company that has made phenomenal
record. Drilling for two years in the
face of almost every conceivable dlfi-
Guilty. the stock at one time selling as
low as cents and the organizers OF
the company doing the drilling and
taking their pay in shares he com
pany has since paid S42.727.04 in dfvi-
dends to the holders of the 1904 out-
standing shares. Fifteen dollars per
share is now asked for the stock ON
the exchange.
U. M. Thomas, a mining AMI news
paperman. likewise made fortune by
selling section land. He purchased
at s100 an acre and last spring sold
his remaining holding, consisting of SO
acres, to the Lucille for $3.50 an acre.
An option to purchase on an additional
20 acres was given for $4,000 an acre.
CANFIELD's RICH RETURNS
In the north end of the CoaIinga
field the strike of. the W. K oil COM
pany several weeks ago caused land
values to jump from $500 an acre TO
$4,000. Pete Rice. a Fresno land owner.
sold piece of property adjoining the
W. * for the former figure the day
before the strike and the dav fol-
lowing received an offer of $4,000 an
acre.
Joseph Fl. Garfield. for number OF
years president of the Associated OF,
company with c. A Garfield discov-
cred the Coalinga field and since thar
time their returns from the oil indus
try have been enormous.