The Washington herald., 1920-08-01


series Of letters which have appeared in this news
paper since last Monday under the above heading
Better Than $780," but hope great many of
you have read them.
But whether you have or not don't miss reading
this letter, for it reveals TO you opportunity to
make an investment that ought to yield you a
splendid return.
The men who conceived this great enterprise
made their own success by taking advantage Of
opportunities not nearly favorable as the one
they offer to you.
They went through to success because of their
courage, initiative, energy, character and ability.
They are men who believe in giving everybody
travelling along with them the same opportunity
as Observation-Disclosures, before inviting you. the
people, to join them, they established sound basis
for the great things expected of this enterprise.
They are already under way and results thus far
prove that extensive development will result in
very profitable returns.
The name of the Company is a good name, and
exactly fits the case.
1t is the GREAT STATE PETROLEUM CO. OF
TEXAS authorized capitalization $4,000, 600
100000 shares of common stock (only), par value
So
Since the organization of the Company, its
properties have enhanced in value more than
100000, which is proven by an appraisal made
under the direction of John T. N. Johnston, who
is admitted to be of the most conservative,
most capable, and most thorough men who ever
measured the value of oil properties
Mr.. Johnston has the distinction of having
Hon" pref1ed to his name, which in his
means what it stands for-"honorable"
Mr.. Johnston is prominent banker. capitalist.
and independent oil operator of St Louis, Mo-.
and Wichita Falls, Tex. He is director in the
Van Noys Interstate Company of New York. di-
rector of the Liberty National Bank of ST Louis,
of which institution his son, Mr. J. L. Johnston, is
President; director Of the First National Bank of
Joplin, Mo-, and connected in like capacity in a
score of other banking and manufacturing cor
porations; director of Kellum Company of Kansas
City, Mo-; and large stakeholder in Phillips
Petroleum Company of Bartlesville, Okla, of
which his son. J. L. Johnston, is director.
Inasmuch he has financial interest what
ever in the GREAT STATE PETROLEUM CO.
OF TEXAS, in any of the properties owned
by the Company, and is not associated in busi-
ness way with any one interested in the Company
its properties, it must be assumed that his
appraisal of the holdings of the GREAT STATE
PETROLEUM CO. OF TEXAS is conservative and
honest
Mr.. Johnston classifes his appraisal as follows:
Producing Leases ............. .$2,720, 10000
Undeveloped Proven Leases. 1884, 10000
Undeveloped Semi-Proven Leases 210,55O.OO
Undeveloped Leases in Favorable
Territory ..................... S94,5O5.U
Pipe Line Properties, Equipment
Contracts, etc. etc................. 1,OO00OOOO
TOTAL. ........ Sc, ,709O55.OO
Now. the stock offered to you, the people, at
$3.50 the sharea price entirely justified because
of the success already attained by the Company
is offered to you only because the President and
General Manager of the Company and the Board
of Directors (who have personally put into the
enterprise their own money to the limit of their
ability wish to develop quickly the proven leases,
and thus speedily multiply production.
1t costs lot of money to prepare for big pro-
ducdon, but since all the money you, the people,
will put into the enterprise will go toward the de-
velopment of the properties where oil is known
to exist, neither you nor the men now back of the
enterprise, with their fortunes, will be taking any
undue risk.
am sure you will be interested in the statement
that not single officer or director, except the
Secretary-who is also Assistant Treasurer
draws one dollar out of the Company in the way
of salaries or in any other way, and the Secretary
Asst Treasurer is not drawing anything like the
salary that one would expect from association
with Company dealing in millions of dollars
The other officers and directors, with the limit
Al