The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-03-13

the Mexican Petroleum Company and
its subsidiary the Muasteco Petrol
cum Company are carrying at the
present time about 100000 barrels
I'm storage Others Of the operating
companies iu that country have
large quantity of oil i'm storage, and
this is said to be due to the difficulty
in obtaining tank steamers TO carry
the oil to the Eastern markets
There is a report current, however,
that the Mexican Petroleum Company
has let contracts for the building of
seven tank steamers in Germany, and
it is known that the same company
has contracted for the construction
of four taukers on the River Clyde
for its own use. These vessels will
not be put into service until the be-
ginning of next January
During 1911 thirty-nine tank YES
sells, carrying SOG,916 barrels, were
shipped by the companies operating
on the Mexican Gulf coast OF these,
two carried $1,000 barrels to Porto
Rico, and the remainder was mar
keted in the United States. In addi-
ton to these, the coastwise shipments
from Mexico aggregated about CO.
1000 barrels, and those from Tuxpam
about 100000 barrels. Rail shipments
from Tampico and Ebano were 5,OOO,-
600 barrels, making the total ship
ments 6,5S6,916 barrels for 1911, all
of which was an entirely new trade,
illustrating very clearly the increase
in the demand of Atlantic markets for
oil and the failure of the home mar
kets to supply the demand.
The older fields of the United
States are dying slowly, but surely
and it will not be long before the
world must look to California and
Mexico for its supply.
California Exports Increasing.
Government statistics show that
during January of this year a total OF
1875, 1873, 469 gallons of oil were shipped
to foreign countries from the seven
principal ports of Baltimore, Boston,
New York, Philadelphia, Galveston,
Sabine and San Francisco comprising
about ninety-six per cent. of the total
oil exports. San Francisco was third
in the list with 1891 ,27S gallons, OF
the value of $685. 1856, as against SILL
564 gallons, of the value of $1SS,46S,
in January, 1911. San Francisco led
all in exports of crude, with 1904, 900
gallons, being 566,46O gallons more
than all the other ports combined.
The reports show that the Eastern
crude oil is worth more than three
times as much as the California crude.
San Francisco's exports of manu-
featured products in January were as
follows Naptha, 1872 gallons, 1921; il
luminants, 5,O29,924 $22O,O6O; Iubri-
cants, 92,496, value $7321; residuum
1928, 126, $5O,6S3.
IS to quantities exported, San
Francisco is third on the list and
fourth as to value. San Francisco is
third on the list for exports of illm-
mating oils
Non-AssessabIe Ghost Downed.
Circulars issued by several oil com
panies have laid stress upon the fact
that the companies were incorporated
according to the lays of Arizona and
that therefore their stocks is not as
sessable and their stockholders are
not liable for the debts of the corpora
ton as they are under the California
laws. While it is true that companies
operating in Arizona under incorpora-
ton in that State are thus protected,
they are not protected when they
come into California and do business
here. They are subject to the laws
of California. This has been decided
in many cases, the latest of which is
that of the Wentworth Hotel Com
pany, an Arizona corporation that
built and conducted a hotel in Pasa-
dena and failed. In that case the
Court held that the stockholders were
liable for the debts of the cooperation
and issued judgment to that effect. An
Arizona company doing business in
California must pay taxes in both
states. The California Midway for this
reason, among others, has reorganiZed
under a new name and has obtained a
California charter, and other copora
tions are said to be about to take the
same step.
Increasing Transportation.
F. e. Fitzgerald has applied to the
authorities of Los Angeles for 6
franchise for double ten-inch pipe
line from the northern city boundary
to the harbor at San Pedro. The dis
lance covered by the franchise is
about twenty-seven miles Fitzpatrick
represents the Honolulu and Esperan
"a oil Companies in the Midway field
from which the Midway Gas Compan!
eXDects to get its supply of natura