South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-04-03
Office Of the Viee-President
Island Oil & Transport
Corporation

TO THE HOLDERS OF VOTING TRUST CERTIFICATES
FOR STOCK OF THE ISLAND OIL & TRANSPORT
CORPORATIONS;
As set forth in Report issued under date OF
January your company increasing its line and
100000 barrels of oil annually After having
Investigation your directors convinced that in addition 70
pany the example of the other large producers
operating in the territory and take advantage OF inc
additional profits obtained through the extraction Of
gasoline bypoducts Other companies have demon
sraed that the refining profits greatly exceed the profits made
in the production crude OIL In view of the fact that
your has potential production OF over oOOO
barrels of oil annually these plans for dyerSng ana increasing
companys products need in restrict the comPan
shipments of crude OIL
For the purpose of accomplishing objects the Island
Refining Corporation under the laws Of the
fVgns with the following authorized capitalization;
600 and Participating TenYear Gold
IS, 1929
100000 Capital Tin 500 par value eah)
In addition to interest at the rate of 7Ps per
holders of the Seven Participating Ten-Year
Gold Bonds will be entitled pro rata share of annual
distribution of 2o9 of the net earnings later deducng sinking
fund requemen of the Corporation for the preceding
The Island Refining Corporation will construct Itself
through subsidiary comPanie) on sites now being obtained
plants combined capacity of 100000 barrels of
about eighty miles south OF TamPico MeKol adjacent to
the loading station Of the Island Oil Transport
the United States sdcent to the Gulf Coast The Mexican and
plants will produce gasoline and fuel oil The plant the
United States will be equipped to produce gasoline oil
and coke.
The bonds viii be secured BY direct first aor,Earf on the
Corporation and by the pledge of all the stock Of the
owning less than thirds of the
stock of the company owning the Cuban plant
of Island Refining Corporation TO
acquired the Island Oil Transport Corpora
all surplus earnings after interest sinking
bondhOldr participation therein, viii TO
company
purpose obtaining funds for the construction,
equipment and operation of the plants and for working CAPT
tall the Refining Corporation will sell Si5O0OOo (pnc
amount) its Seven Per Cent and Participating Ten
Year Gold Bonds.
Application made this Office for further information
regarding the company and its bonds.
Holders Voting Certificates for Stock Of the Island
Oil Transport Corporation the close Of business April
z 1919 entitled subscribe for said bonds at the price
of 1910 principal the proportion of 500 principal
bonds for each SO shares Of stock represented by
Voting Trust Certificates.
The bonds issued denominations of $780, $500
and 81 600 Subscriptions bonds be for amounts
multiples of 500.
Subscription warrants specifying the of bonds to
holders of Voting Trust Certificates entitled 10
subscribe possible after the closing
of the April 1919. Fractional warrants viii be
respect of so shares of stock good for
thereof of Voting Trust Certificates desiring to
fractional to complete subscription
privileges full bond desiring to dispose of their frac
tionaI warrants, must do so in the market.
Payments for bonds the of $3.50 each 500
bonds, accompanied by duly endorsed subscription
be made before April Is, 1919 at the
of A. B. Leach Co., Inc, 62 Cedar Street New York
City.
bonds interim certificates receipts will issued xchangeabe
for the bonds when ready for delivery.
Syndicate formed which has underwritten the
the bonds and any bonds not taken by the shahod
will be sold to said Syndicate
(Sgned) F. B. LASIIER, Nce-President
New York City, March as, 1918.