Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-08-20
ANOTHER BIC OIL.
COMP ANY COMES
IN WITH WINNER
Texas Field is Showing Re-
markable Results and For
tunes are Being Made Daily
by Discriminating Investors,

With the qualification of the Tex
Ken Oil corporation in the state of
Texas, another company Of national
magnitude has been added to the
already long list of producing com
panies in this state.
The Tex-Ken company was organ
lied early in 1917, under the laws
of Delaware, under the name of
"Kentucky Petroleum Producing
Company" but owing to the fact
that the major holdings of the COM
pany are now located in Texas, de-
cison was reached to amend the
charter to include the name Of
Texas.
The corporation has a capital of
$4,000, 10000, the stock of the par
value of $500 per share, and over
$1,700,000 shares in the treasury
Its producing properties in Ken
lucky return a net revenue of over
$40 10000 monthly, and the com
pany now has a reserve fund or
5000, 000.0 90, which is being devoted
to the development of its properties
in Texas.
The officers and directors include
the following: f. d. Pouch, New
York city, president; A. J. Stone,
| New York city vice-president; l.. T.
Collins, New York city, secretary
treasurer; Arthur B. Hatcher, New
York city director; Walter b. Her
rick, New York city, director; Eu-
gene Mackey, New York city, di-
rector; l.. Sherman Adams, Boston,
Mass, director; A. X. Afford, New
York city, director; G. G. Davidson,
| New London, Conn, director.
The principal stockholders include
| e. d. Pouch, president of Pouch IL
| company, a prominent investment
banker of New York C. II. Sabin,
president of the Guaranty Trust Co.,
| New York; A. II. Virgins, president
of the Chase National bank, New
| York; H. ii. Rogers, Jr, represent
4 ing the National Copper interests,
n t. l.. Chadbourne, Jr., corporation
lawyer, recently on the war board
I for the u. S. government; Gregory
II G Davidson, vice president Subma-
rine Boat corporation, and largely
interested in the production of oil in
various sections of the country; ana
i Eugene Mackey, corporation counsei,
and prominently identified with the
| Commonwealth Petroleum corpora
ton. one of the larger operating
| companies of America.
Through arrangements just com,
/ pleted, Roger w. Powers, of Mineral
Wells, will act as agent for the
corporation within the state ana
the entire field management and pro-
duction development will be under
the direct control of the II. w. POW
ers interests.
The corporations holdings consist
of 1851 acres in Eastland county. 24U
acres in stephens county, twenty acres
in Erath county, fifty acres in Co
manche county, 523 acres in Brown
county, 500 acres in Shackleforo
county, ia acres in Archer county
ninety acres in Throckmorton county
225 acres in Baylor county. 220 acres
in Summerset field. San Antonio. A.
600 acres in Kentucky and valuable
holdings ip Kansas,
The company Is now drilling three
wells; one in Erath county, in the
\ Desdemona field; the second in East
I land county, four miles north of Ris-
ing Star. and the third in Stephens
1 county.
The first two wells above mentioned
have up to this time been operated
by Mr.. Powers but under the terms
of the new agreement these holding
become the property of the Tex-kei
corporation. The Desdemona wei
has just touched the sand and is nov
making approximately 500 barrel ant
100000 cubic feet of gas per day
1t is expected that when drilling II
resumed this well will become one O
the big producers in the Desdemon;
district The Eastland county we'll \
now drilling at en- approximate dept
of 200 feet, The company is also con
sidering the immediate drilling OF IL
shackleford county acreage. and
second location has been made In Des
demona, where work will be vigorous
ly prosecuted.
Mr. Powers stated today that
would be the policy Of his compan