Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1920-03-07
HOMER UNION IN
EXPLANATION To
STOCKHOLDERS

Ell Union OIL STOCK, several o. The 10
cal men VINO wee INST. ull.en,aI IA
hanuiing the promotion Oh ,he com
pany III the warren DlsIrlct. Wioee
directly to the OInclals OF the CJInpa-
ny. The reply, sent II response 10
letter from g. \. FrledenOioom, the To-
cal broker, follows:
Nj. u. A tTIeuenDIoom,
Lyric theatre BUILDING,
BlsDee, ArIzona.
My uesr t'.Ionu anu Sir:
Your le.Ler Oh March LIST to the HON
er Union Petroleum Company has Ooen
handed to me tor reply. l notice the
number Oh questions you ask anu /
shall answer them 10 the best OF my
knowIeuge and ABILITY at TINS time.
Yes, am thoroughly aware that you
people put your money into Homer IN
ion on the strength OF the SmIth-Por-
terrified and Best interests, and can
say honestly and truly that l do not
think any OF them will ever regret III
vesting in our securities. The same
officers are still at the head OF Homer
Union that originally were, Win an
addition OF two directors elected at
the Shreveport meeting held some
time ago. AT the meeting IN ShreYe-
port was elected Mr. J. 5. wilson,
who is one OF the large flnanclers or
Pittsburg and is a director in three
banks and worth several million dol
lars. We feel very proud OF having
been able TO land such a man as Mr..
Wilson as one of our officers and dl-
rectors OF this company. We also lined
up Mr.. Miller, who is big refinery
man. The Miller Refinery Company
of Pittsburg has been one OF the most
successful reifner1es in Pittsburg. We
feel very proud OF our Pittsburg direc-
tors and l can say honestly and con-
scientiously that l believe that Homer
Union is now to be one of the destined
oil companies of the United States.
At the Shreveport meeting We not
only elected two additional directors
but we increased the capital stock to
five million dollars, which will give US
ample funds and capital to finance any
proposition that We may see tit TO tahe
hold of. We have since purchased 900
acres of proven OIL lard N West Nlt-
ginia. This oil is now selling at 9oJU
q barrel. We are also negotiating and
think we VIII close a deal for the Mil
Ter Refinery at Pittsbc:g, Il million
and a hall dollar concern. This REIN
cry alone will pay nice dividend on
the entire. $5,00O,OO0 capital. We are
also contemplating the purchase Oh 80
acres in the Walters Field of Oklaho-
ma, proven territory. With the addi-
tional acreage acquired in louisiana
we feel that the Homer Union now is
a real oil refining and marketing com
pany and has a brighter future than
the Texas Company ever had, and yet
The Texas Company started with 500
goo capital and has increased to S85,
OOO,0 600 With practical refinery man
at the head of our affairs, with a man
whose financial standing in Pittsbure
is not questionable, and with our hell
here in FL Paso, l believe .Jnat the
Homer Union is destined TO be equally
as good as the Texas Company IN the
next 20 years. We have real oil com
pany now and the stockholders should
be proud of that fact.
Mr.. Porterfield has been out OF Tho
city for some time and has just re
turned and we have been planning 81
many things for Homer Union that W.
have neglected writing the stockhoId
ers as to what was done at the ShreVe
mort meeting, but in due course of tim
we will notify all stockholders as t
what actions were taken there and IN
plans for our company in the future.
l want to say 10 you that we ar
about through promoting companle
and we are bound to take hold of on
of our companies and try to make
real oil company out oil it. we lee
that Homer Union is the logical con
pany, with the proper holdings, 10
that with. We will also advise IN
stockholders in a short time, not onl
in regard to the meeting but ther
will be some concessions made TO orr;
inal stockholders of the Homer Unlol
We want our original stockholders
feel satisfied and pleased with the a
lions OF the Board OF Trustees at tn
Shreveport meeting. and | feel Jn'
they will be when they know the fact
It is true that we should probabl
have notified the stockholders befoi
this and should have kept them bett'
posted on the work OF the Homer L
ion Company, yet we had but MT
to report to them, and it is conside
able expense to send out notices to
stockholders. However, l wish to 81
that we are drilling at 400 feet
Well No. l Our No. 2 well was su
posed TO have been ''spudded' IN al
we are preparing TO drill well NO.
We also expect to drill on the five hu
bred acres recently purchased in we
Virginia at a very early date. We W
try to keep our stockholders post
bettor in tho future than we have