The Washington herald., 1918-09-11
WONDER TALE
OF OILSTOCK
Ed Of 900 for T. & P. Oil
Finds No Takers,
Says Holland.

Early IN the winter OF this year
there appeared an advertisement in
the daily newspapers which. it was
said BY those who have had thirty
years or more experience in the hnan-
cial district, was without any prece-
dent. II consisted OF only few lines.
over the signature of the president
suggesting 10 the stockholders Of the
Texas and Pacific Coal and OIL Conn
pany that they be not tempted by the
sudden and great appreciation In the
quotations for the stock OF this COM
pany to part with their holdings. Tne
intimation was clear that these stock
holders would serve their best inter-
ests IL they were not tempted to sell
their stock, although the quotation
for IL was approximately 500 a snare.
This morning a man who formerly
was Of important association with
the securities market and also with
railroads. but who has now retired.
called attention to the fact that as
much as 800 has now been offered for
this stock, although the presumption
was that none OF the stockholders
were tempted by reason Of this high
price to part with their holdings.
Il was also said that this Is prob
ably the most remarkable, as 1t Is
certainly an absolutely unique record
made by any Industrial corporation
in recent years, possibly since the
great boom in silver and gold mining
stocks in the far West took place.
$50 Year Ago.
About a year ago this stock was
quoted at l5O to 30 a share. The COM
pany .ERs not a large one so far as
capitalization was concerned. The
capital was 100000. but in the
sps1Eg of this year 1t was increased
10 S5OOOoO0. Thu stock holders had
the privilege Of subscribing to this
additional capital of 100000 at par,
although the quotation for n at the
time was coo. There is no record OF
any corporation, and certainly Of none
with a capital of no more than 5000 =
Oc0. for whose stock an offer OF 500
a share has been made within a year.
There have been some extraordinary
advances in market quotations. such,
for instance, as that OF the corpora
tion which Is, with wonderful SUI
cess, obtaining the sulphur located
far beneath the surface Of south
western louisiana "A member of the
Vanderbilt family not now living
shut his eyes and invested 10000 in
this sulphur corporation. At the time
Of his death a few years ago It was
learned that this investment was
bringing to his heirs $500, 900 a year.
OF course a property of that kind is
held in close hands and although
there are quotations which represent
bids tor the stock Of this sulphur
l.
and Pacific Coal and Oil Company
Yet the stockholders are so well sat
isfied with their investment that they
cannot be pursuaded to part with
their stock.
500 Per Cent Pront.
Il was said this morning that the
only record ever made of which the
veterans of the financial district
have any knowledge which com
pares in figures. but not in char
acteFs with the bid quotation OF 900
for the Texas and Pacific Coal and
Oil Company stock was the record
made by the so-called Pacific Con-
struction Company. That was
organized by Woerishoffer. the pur-
pose heing to enter into contract
with the Texas Pacific Railroad
Company for the construction of its
line. The work was well done and
when the time came to wind up tbs
affairs Of this organization 1t wa:
found that the profit aggregated sOl
per cent on the investment.
That, however. was different
proposition from the one which tht
unique appreciation in the quota
tiOns for the Texas and Pacific Goa
and Iron Company stock represents
The 500 per cent profit was the out.
come of a very skillfully perfected