The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-04-26
A TRUST IS AFTER
CALIFORNIA OIL

BAKERSFIELD April 1S.-Plans
have been formulated and launched
for the formation of gigantic pipe
line with laterals running from all Vt
| the developed fields in this county and
! also from the fields of the vicinity of
Santa Maria to Oilport on San Luis
bay, where the Oilport refinery is d.
Gated. This is the statement of j. G.
fancy, one of the largest oil operators
in this state. Associated with him in
the venture are j. 1. Lamprecht, the
president of the national refining COM
pany of Cleveand, o., the most formld-
able rival of the Standard Oil Com
pany in existence; T. N. Barsdale, the
! largest individual producer of oil in
the United States, and Henry ]. Croc-
ker of San Francisco,
This project will be capitalized at
$21 100000. A bond issue of $4,000
600 has been authorized for the pur-
pose of raising the necessary money
to build the pipe line and purchase
tank steamers for the purpose of
transporting the product from San
Luis bay to the ports where it will be
disposed of.
1t is the intention to make this pipe
line a common carrier and to deliver
at tide water the products of all COM
| This ie
character to be proposed on the Paci-
tic coast for although there are sew
eral pipe lines they have all been con-
structed for the use of certain cor
porations although they have in some
cases transported the product of other
companies.
The Oilport refinery one of the best
in the state has been secured and here
! 10000 barrels of oil can be refined
daily. This will be inadequate, how
ever, for the branches from the Kerr
County fields and from Santa Maria
will be of eight inch tubing with {
combined capacity of nearly double
that amount. The 1elds that will hC
tapped at once will include Midway
Maricopa, McKittrick, Kern river anC
Santa Maria. The proposed pipe lin,
will extend directly across the noun
tains to tide water.
The officers of the company are: J
I. Lamprecht, president, Theodore N
Barnsdale, vice president; Henry I.
Crocker, second vice president and
treasurer; J. G. Yancy third vice pre-
sident and general manager.
The latter is one of the most con,
spicuous characters in the industry il
the state. He came to California abou
year ago and since that time ha!
grouped various interests into a gian
corporation. Upon his arrival here
he made a survey of the fields and de-
cided that the North Midway and Nc
On the board this morning the same
was bid for more of the stock, bu
holders were demanding S.. so.
Other large sales were of Eva. Be
tween boards 115 shares sold at $34.
625, followed by 1870 at $34. 75-al'
though the reports on Change had the
order/of the deals reversed. On thu
board this morning there was another
sale of Is shares at STATS. at the
close of the session $34. 625 was bic
and 1914 S75 asked
Oahu also came in fer attention, Is
S Is and 5 shares selling at $36. 1876. Al
e the close $50 was bid and $36 1875 ask.
c ed
Between boards so shares Mutual
Telephone found a buyer at $12. 50
. This morning the stock was offered al
n $12,75, but no bids were recorded.
n Paauhau again appeared on the
= street, So shares selling at $29 25. Al
i the close $2S.7J was bid and $29 90
asked.
A sale of Hilo Extension bonds-S1,-
a OOO-was made at sos.
e On the beard this rlorning Hut
), Crimson sold at $40, after which SIS
g was bid and 81 1925 asked.
e Another sale on the board was 1OC
= Honokaa at $2O.5O at which the
t stock was weak At the close 500.
70 375 was bid and 500 525 asked.
It Five shares pineapple sold at $27 81
0 after which the same was bid for NOR,
a but holders had advanced their figures
e to s2S so.
e Interesting uotations without sales
were: Waialua 1892 so bid and $1Sl
= asked; Pioneer $z25 bid and 1928 ask
e ed; Hawaiian Commercial, $42 25 biz
and AZ so asked.
Fred L. Waldron, president of tn,
- Merchants Association. will he a