Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1916-09-30
Oil Market Letter


The local market for oil and natural
gas securities during the past week
ia without any important announce
nl"nt. and prices had tendency 90
show slight declines. although tine
trading was well scattered
The persistent BUYING IN Columbia
Car ~ Electric brought the sales mp
to over l2. .0OO shares ranging IN price
from 10 7-S 10 - 4 and back 10
~ rs. II IL evident that those ac-
cumulhting the stock yns buying on
offers rather than bidding the market
up. mnn IN high standing in the
gas business states that hebelleNos
nc company will turn out TO he a
Hecond Manufactures Light Il Heat
CO.. and although the market may be
SLOW, 1t viii eventually sell at much
higher prices. The companys earn
in@S for the month Of August show
Surplus after all charges of S2T.09?,
against deficit I'm August la7t year
of Sl5.S50. The report follows:
Gross S5S+,5S6. Inc. $69.412,
operating expense $32O.79L Inc. So
bN4. surplus after charges $27.O92.
Inc. Sl2,9i2. For oisht months. gross
.6.SO1,s96. Inc S552,4N5; operating
S2,S11 go, Inc. $1S9,9G2. surplus pf-
ter CHARGES sG:2.129, In. $364.013.
The delay of the public service
commission announcing their decision
regarding the Dhio Fuel supply com
tny hhS been somewhat dlsappoiHt-
ing The stock cold to the cNtent
of over $50 shares ut ~ high and IT,
low, the last 40
Pittsburgh oil x Gas responded tc
tie good news regarding the com
pany's possibility Of increasing their
production in Kentucky ana Califor-
MIA. selling from S to Il on
market OF zoo shares
Oklahoma Natural Gas has not
been traded in for sometime. and the
last sale was at 75, and believe higher
plices would hc paid for the stocb II
there were any offerings. II looks
low compared with some Of the other
gas stocks on the local board Cauey
River Gas sold I'm small way at 39
- and Osoge < Oklahoma was
wanted at 1903.
On sales OF ove- 1000 shares. pure
oil did not vary hut -. selling ct
10 IS TO 90. which would indicate
that the interests are ont of the
market for the time being. and the
iumors OF II sale OF the company have
oI tlrelv died out
Kansas Natural Gas sold in small
way at 2S The president. Victor HAYS
Of the company has filed an appli-
cftion to lift the recelverShip of III"
Comanv and to restore II to the stock
holders. II iS un lerstOod that off
cials Of the comany yill claim, as the
company Is engaged in Interstate
business of TRANSPORTING gas from
Oklahoma into Kansas, the state com
Mission has no jurisdiction over It's
capitalization or finance.
Tropical oil was more active on tho
local exchange than It has been Tor
several weeks selling from 10 to la.
with good size blocks ~ the stock
changing hands at 12 Il to II IS.
The sales have more or less came
from those who purchased the same
a. \ and are selling onc-half Of their
HOLDINGS. The buying has mostly come
from New York ana local interests.
Cosden 4 60. report net earnings
after interest for seven months end
ing July II. at s. o44.223 TO which
is added a profit from sales of IN
vcstmCnts q $12S.0I bringing total
net Grplica hfe to dividends for seven
months up to s2.172.264 This Is
equal to s1S9 a share on 1.15O.57A
shares of commCr stock Outstanding
and is at the rate Of about SO % per
share pcr annuut. The compauys
St,000.000 ten year per cent conver.
uhle notes have heen undcrwrittcn ~
large New York banking interests,
besides providing cash to reimburse
ncction with the building Of the luhH-
eating plant, ctr. and the plant
will provide s150O.0O0 working
capital. The company will have
crude capacity of over $4,000 barrels
per dav when the present corstrrc-
tions are comlcted. The stock sold
10 the extent of over $4,000 shares at
~ "a to l6 Is and back to Is 81.
Ccsdpn oil & Gas is being steadily
; 10