The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1916-04-06
Temporary Place of Business
May be Made Permanent by
Yakima Corporation
LOCAL MEN TO BE DIRECTORS
". r. Crawford and E. M. Sly Inspect
Company's Books and Make
Favorable Report

temporary OFFICES were opcHeu mere
this week in the Kennewick Transfer
eompany's building by the Yakima
Natural Gas & Oil company, with
Sales Agent F. L. Runions and Cen
eral Manager P. E. Hall, Jr., in charge.
Altho under the bylaws of the organ
ization the company's head Offices are
IN North Yakima, it has been found
that the business can be transacted
more advantageously from here and it
Il probable that later permanent of
fees will be established in this city.
Altho the week has brought forth
no new developments in the gas field,
local interest is becoming more gen.
eral. Information has been received
By local business men that in addition
to the California company headed by
Herbert C. Harris, a third COM
psny headed by men who have extern
sve holdings between here and White
Bluffs are making preparations to en-
ter the field with a large drilling out
IT.
At the request of several local busi-
ness men, w. r. Crawford and E. M.
Sly went to North Yakima Saturday
and made a thoro inspection Of the
Yakima company's books and an in
vsstigation Of the standing Of the cor
poration. The result Of this investi-
cation is embodied in signed report
% follows:
sOur investigation was conducted in
North Yakima where the head office
d the company is now located and at
which point majority of the stock
holders and officers reside.
aln reply to numerous interroga-
tons as to the standing of the var
ious officers Of the company in that
community, we were informed by sew
sfal business men, in each instance,
that each individual representing the
personnel Of the company, some of
whom had lived in Yakima for many
years, enjoyed a good reputation and
ware men of good character and integ-
rity.
"At the company's office every pos
sible courtesy and assistance was ex-
tended to US. The books of the cor
poration were thrown open for our
inspection in detail from which we
learned the following:
"1st-That the Yakima Natural Gas
I Oil company is duly incorporated
under the laws of the State of Wash
hgton.
'2nd-That the capital stock is one
million shares Of the par value of 81.
"Srd-That all stock Of the company
Is common or treasury stock, there be-
ing no preferred or promotion stock
provided for.
18th h-That there remained in the
treasury on the first day of April, 1916
total Of 806,230 shares from which
sales are now being made at ten cents
per share.
5th-That the president, vice pres
soent, secretary, treasurer and the
beard Of trustees receive no salaries
nor compensation for their services.
6th-That all corporate matters.
20 Tar as we were able to judge, have
oeen properly conducted to date, with
'ne exception that the corporation Ii
cense for 1916 was not in evidence in
ne minute book which document, we
were informed, had been mislaid and
copy of same had been applied for
from the secretary Of state, but had
not yet arrived.
7th-That the present assets of
'ne company consist of personal pro-
perty and standard leases covering
something over seven thousand acres
VI land in the Rattlesnake district ex-
lending from White Bluffs and Han
-ord to the vicinity of Richland, the
greater portion of which is adjoining
VI IN close proximity to the property
on which the present producing gas
wen Is located. Also Well No. I, now
De'ng drilled, within three miles of the
proauclng we'll, which has attained q
ueptn OF something over $50 feet and
VI which continuous drilling is in op-
a'lon with an eight-inch bit.