The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-06-08
OIL AND GAS NEWS

Ia purchase for several points; should
produce around 100000 gallons of gas
oline this year. Ohio Fuel Oil sold at
2S& on dividend announcement and
back TO 1914. eXdividend. The company
are building a new gasoline plant which
should double their present gasoline out
put and have some good production pos
sbilities in Kentucky.
Manufacturers Light & Heat sold low
at 64& and high at 81 on report of a
new oil found in Warrington, W. Va,
field. Insiders are very bullish. The
company are giving special attention TO
building up new oil and gasoline pro-
duction.
In the western group, Caney River
Natural Gas sold in odd lots at as. Usage
& Oklahoma and Oklahoma Natural Gas
not mentioned--prices unchanged.
Columbia Gas & Electric sold low at
Al and high at 42% good specula-
tive purchase returns over per cent.
Pittsburgh Oil & Gas advanced from
to "a Best low prices oil on the board
will do better Lone Star Natural Gas
sold odd lots at 96 and 96h. viii have
to extend lines into Oklahoma for future
supplies. which will probably mean new
stock and bond issue. The market is
| too narrow for much action.
Standard Oil Stocks.
General list shows more gains than
losses. Anglo.American Oil was active,
it touched 10, would take part of the
profits. The company have been pay
| ing per cent with per cent extra
semi.annually Advanced on rumor that
extra dividend would be taken up at
meeting next month. Earnings are large
and extra cash or stock should come
after the war is over.
| Prairie Pipe Line looks like a pur-
chase below 800 and its earnings and
dividends. Rumors are again on the
street that Standard Oil Of New Jersey
will increase capital and give stock div
idend Of two for one. We do not be.
lieve that the Standards will do much
in the way of stock dividends during
the war unless II Is decided that surplus
is not to be considered as capital in.
vested in figuring excess profits.
Ohio Oil Is going in Kentucky and has
made its first purchase Of production in
that state. It's a purchase for invest.
ment buyers who can wait for results.
For the first half OF 1917 the Standard
OIL companies cash dividends amount to
over S49.5OOO0O against S46,225 900 for
same period OF 1916.
The Texas Company will increase its
capital Sl3.S75,OOO and give rights at
par TO stockholders This would be
worth nearly $50 per share at present
prices.
Mr.. Van Manning OF the interior de
partment states that crude consump
tion increased II per cent in 1915 over
1914 and increased l3 per cent in 1915
lover 1915 and will increase in 1917 over
1916 more than 100000 barrels. anC
from present estimates we viii draw
100000 barrels from stocks this year
with outlook for less crude production
and with increased demands for manu-
factured products largely in excess oi
last year.
Junior Oils.
List firmer with advances ranginl
from fractions to several points.
d Sinclair oil * Refining have increas
ed their daily production nearly 30 pei
cent since last May. increased number
Of wells over 100 per cent and lease,
holding over 10 per cent sold high a
57h. II win 20 along with others II
upward move.
The Cosdens gained a point Deposit,
Of stock favorable 10 consolidation ar,
reported satisfactory. Cosden oil 4
Gas holding their production abov,
1900 barrels.
Cosden 81 Companys new gasolin,
process reported a success with recov
cry Of over 62 per cent. over double IN,
regular recovery. Stock will sell high