Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-04-10
CAPPEAU'S WEEKLY
MARKET LETTER

What effect will our war with the
imperial German government have
upon the stock market in general and
especially oil and natural gas securi-
ties is hard to predict. Generally
speaking. we would not advise the
sale of various oil and refining COM
panies whose securities have been
placed on the market in legitimate
way, and their present price repre-
sents actual physical valuation and
earning power The demand for crude
oil will not lessen, export shipments
will increase, while production will
decrease except in Wyoming, and
drilling generally will be hampered by
shortage of supplies. Natural gas
stock will not be affected by the war,
and their securities will become more
popular with the investing public,
who look for safety OF principal, in
terest and market ability
Pure oil sold to the extent of over
$500 shares at 23% high and 22&
low Those who followed the advice
contained in these letters, selling one
half of this stock from 25 to 20 u
can afford to wait on the outcome of
the present rumor that some an
nouncement will be made on April Is
regarding the sale Of the company.
About Usage stock
Caney River Natural Gas sold in
small way around 40, while Oklahoma
Natural Gas registered sales at 101 y.
and Usage Oklahoma Gas was wanted
at 1913. The latter company has been
successful in having their domestic
gas rate raised In Tulsa, which will
show a nice increase in their earnings
and overcome the additional charges
OF rental in the Usage nation. We
would not be surprised to see the con
troll OF the so-called Braden com
panies change to large New York in
terests who are now actively operat
ing the natural gas end of the Mid
Continent field.
The Independent oils on the New
York curb held their prices remark
ably well considering the general de-
cline in the large market.
Atlantic Petroleum company was
well bought by those personally ac-
quainted with the management who
have proven themselves to be most
conservative and successful I'm the
management Of their various person
properties which have been combined
into the above mentioned company
They have recently drilled in some
very large gas wells southeast Of
present natural gas production at
SO, 000. 000 to 10000, 600 cubic feet per
day. Their oil production has good
chances Of being increased on account
of the present drilling and should
average around 5000 to 5000 barrels
a day for the year. The market for
the stock is very active around IS a
share and higher prices are generally
expected.
Sinclair Goes Up.
Sinclair Oil & Refining was listed
on the New York exchange and sold
up to 80. which selling pressure was
met with from the middle west and
declines TO around "a y. The COM
pany declared the regular quarterly
dividend of sl.25 ashare In the
company's listing the application to
the New York exchange it showed an
| income Of $3,730,SS0 as of January
81. 1917, expenditures s944.931, divi-
dends paid S263S,2ll, surplus $144,-
| 1877. The income of subsidiaries to-
tailed sS.S39,075, expenditures $500
| 731. net income s6,S33,294, dividends
paid S270, 500, surplus s4.12S,294. The
! statement Is the result of the income
I for the first nine months Of operation.
/ The current assets of the Sinclair Oil
| & Refining corporation totaled S3,-
| 46G.519. Of which s3,466,252 was cash.
! The share holders have received rights
| TO purchase the stock OF the Sinclair
! Gulf corporation pro rata at $40 per
/ share. and to buy additional stock at
| $45 a share. The rights are quoted n
quarter bid. offered at one half
No actual quotation or market has yet
lbeen made for the new company.