Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1916-08-29
Oil Market Letter


XIV Iti l.. ''Nl'IfAl N''lNsn.)
The general advancement of the
New York market. especially for steel
stock. has brought renewed confidence |
to the investing public, as to the
prosperous conditions of the United
States in general, and the steel buSi-
ness in particular United states steeI
reached new high record price or [
39-3-S. The previous high sale was
- IS in 1909, shortly before the in
crease of dividend. With the steel
mills and their Industries running 10
their fun capacity, we believe the
prices for crude oil will be only
temporary, and stocks purchased
with caro- viii show good profits for
tho"c willing to wait
IN the local exchange, Columml
Gas X Electric advanced from 81 Ia
to - is on salos of over five thou
sand charcs. refectng an exception
ally good statement issued for Tn"
| first six months. hy the company. II
| showed TIE following icnrcascs' gross
! earnings $4S3,O73. operating expenses
$16i,37S, net earnings t3lS,695, other
! income $l7,G93, total income ana
! income SJ3G,SSS, leases and rentals
| st0,oF7. fixed charges Si,592, surplus
| f32t73S. II IL interesting to know
that the increase in surplus amounts
| to sos per cent The company Is
now producing about five thousand
/ gallons Of gasoline daily, two more
| absorption plants and two compressor
| plants are now under construction,
| and by the first of November, their
output should be between four and
| five million gallons annually. which
based on the present price, would
Weld rev rcVVnuc to the company,
| Approximately 81 100000 a year. The
output for the period ending Decom-
her has already been sold at eXc"p-
tionul prices. Tho compauN's new
contracts with the Philadelphia Com
pauN ana the Hope Company, will inn
mcdiatcly Weld an additional revenue
of $500, 600 annually,
Manufacturers Light 4 Heat, on
| market cf over seven hundred shares
| had narrow range Of I3 IA to 81
/ 81. with good demand for the stock
/ from investing ccntCrs. with little of
] f'rcd. II is rumored that the Hhgl-
| tiuu between the company and pubic
service commission OF West Virginia,
Will soon hc settled faNorabhly to the
| company. 1t is also reported that
! they may receive an increased price
! for gas, aud that the company should
! 10. allowed 20 use $4O0,0 600 for de-
Vciupment OF new territory, which Is
u,w held I'm escrow by the Wheeling
] banks, depending on the outcome pf
| the litigation.
Rumors are again on the street
/ that there is a deal on for the sale
OF the Pure oil company, and with
tHc stock advancing from 10 to 20
1.2, 1t looks as If there might be some
foundation for the same.
lone Star Gas, which has been
neglected for some months on ac-
| count OF the litigation against the
company in Fort Worth and Dallas,
TrN9s to have them reduce the price
I,s.t nf4f4 Ils
4 settled. The company won big VIC
tory for itself as well as many
friends. by the business-lil<e WAY in
which It has shown the consumer
that II was impossible TO reduce the
rate, and IT was also necessary for
iit TO cut off manufacturing con
sumption at present pdices. The old
rate for domestic gas viii stand. and
tHHre rs possibility that II VIII be
offered higher prices Tor manufa'-
tu'cd gas. in case it desires to
supply the same. The company has
some exceptionally good looking
leases in southern oklahoma for oil.
which 1t is now developing. With
these prospects ahead Of the stock,
we 'hink II offers an excellent invest
mcut with speculative possibility
NJ present prices.
standard oil stocks.
/ Ile Iltl ktl 10Y CltNildIu VII Su'-
salaries has continued firm, through
ont the week, with many of the issues
. showing adVauccmCUts. and the buy
'rg has been Of good character. II
IS rumorcd that the Illinois Pipe Line
may increase its present dividend
! rate. the last of which WAS Il per
cnt in Jun, Will in January 1t
paid r per cent
The National Transit company. in
q notice sent the stockholders, An
rust -. announced that there would
: likely h. no dividend declared, owing
20 the Intention OF the company TO
8 withdraw 30 per cent of the capital
stock. This reduction was to have
lecn accomplished 10y the sale Of GER
. .aiu securities of the company. The
directors will not sell at the present
= time on account of the price being
below their real value. The market
for the stocck has held firm around
is to II.
O. tho outside stocks, Sinclair oil
& Refining was the strongest selling
up to 90, although the general pubic
is waiting to $ If the new pipe
!. line will be financed through n boS1
4 'squc. as this would increase thC
valuation OF the stock. Cosden
Oklahoma Producing Refiulng
were firm with Mid West Refining