The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-11-07
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!: STANDARD OIL REVIEW
;: CBy 10. =. Cappeau sons
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ing the past week, with a volume of
trading stacking to some extent on
account of the unknown results OF No
yember 7th Fourteen of the stocks
! showed an advancement from Sl0O to
$500 a share, with Standard Oil of
Indiana registering the largest, while
eleven declined from Sl0O to $1,000
share and the balance of the list
remained unchanged In general the
refining companies sustained the
| greater loss, as the producing com
panies have prospects for higher prices
for crude oil in front of them and the
pipe line earnings held the market for
! these securities firm.
Cumberland Pipe Line established a
new high record by handling 3S,2S2
barrels of crude oil from Kentucky
the week ending October 21, with a
daily average OF over 5000 barrels
The runs will show a steady increase
when the company have their new
| connecting lines to the Irvine Ken
lucky field. The company are now do
ing a larger business weekly than they
were monthly in 1915. The stock re
mained firm around l05 to lis, and an
increase in the present dividend of
per cent seems to be expected dur
ing the coming year.
Galena-Signal are branching out into
new fields of business, the last venture
being with j. S. Cullian, former presi-
dent of the Texas Company, with
whom they are entering into a manu-
featuring enterprise in Texas to be
known as the Petroleum Refining Com
pany, with a capitalization of $780,
600. The company will manufacture
refined products for foreign trade, as
well as domestic The new refinery
will be located at Houston, Texas
Illinois Pipe Line advanced from
2l9 to 223, on good demand with not
much stock offered. The company will
probably build some extensions to
their present pipe line system, during
the coming year, which may have
some effect on their dividend rate.
The Prairie Pipe Line are Install
ing a plant at Neodesha and Butler
Co., Kansas, and are only handling
10000 barrels per day from the Eldo-
RADIO field, but in the next few weeks
probably will be running the two s.
inch lines to full capacity. The loop
ing from the Company's line from Neo-
desha to Alton, ILL.,, is progressing as
rapidly as possible, but will probably
be several months before the added
10000 or $4,000 bbls of line space will
be i'm operation. The market for the
stock was steady at 29O to 294 with
slight advancing tendency
Atlantic Refining is rapidly creap-
ing up to $500, at which price it will
sell around March 31st, the date of its
annual meeting
Although the long looked for ad-
vance in Oklahoma crude oil has not
been announced, the buying of the bet
ter class of Independent companies
has not ceased to any extent, in the
middle west they seem to be the
largest buyers
Sinclair Oil & Refining corporation
sold high at 50 and low at 54 and
closed at 54la to 50. As the bonds are
convertible into stock at the end of
the first year at So or 10 for the
bonds, ii is the general opinion that
the company will sell higher, based
on this fact and on the physical con
dition of their properties During the
past few weeks they have purchased
c. J. Wrightsman's half interest in the
Eldorado, Kansas, field, 80 acres ad-
joining the property to the south of
the Wrightsman & Foster tankage, in
four $4,000 bbl. tanks. and
10000 bbls of storage oil and a $4,000
bbl. tank building. The consideration
is reported TO be S55O,OOO. They have
also reported TO have bought three
quarters OF the Crystal Oil Company
at Hcaldton for S1,5OO,OO0
Cosdcn Oil d Gas was firm at 14al
to 10, with higher prices generally eX-
pccted On Saturday there was bid
on the market of 1iH for any part of
5000 shares.
Cosden d Company declared the
regular quarterly dividend of . per
cent and . per cent extra, and sold
high at 1871 and closed at 177s bid. of.
.ored at Is.
Oklahoma Producing Refining de
lined from 1l7s to 1Oai with another
argc block of stock hanging over the
market. which is gradually being alb
'orbed by those who have faith in the
and rumors of higher prices
,ra penerally heard