The Washington times., 1920-08-01

/ don't know how many OF you nave read inc
series of letters which have appeared In this news
paper since last Monday under the above heading
Better Than $3.50" but hope a great many OF
you have read them.
But whether you have OF NOT, don't miss reading
this letter. for II reveals to you opportunity to
make an investment that ought to yield you Q
splendid return.
The men who conceived this great enterprise
made their own success by taking advantage OF
opportunities not nearly 50 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 themselves 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.
II is the GREAT STATE PETROLEUM CO. OF
TEXAS, authorized capitalization $15.OOOOOO-
100000 shares of common stock (only), par value
$40.
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. M. Johnston, who
is admitted to be one 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." prefixed to his name, which in his case
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-
A.. NJ: De- >f Io,,io
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
score of other banking and manufacturing cor
porations; director of Kellum Company of Kansas
City, Mo-; and a large stakeholder in Phillips
Petroleum Company of Bartlesville, Okla. of
which his son, J. L. Johnston, is director.
Ina much as he has no financial interest what
ever in the GREAT STATE PETROLEUM co.
OF TEXAS, nor in any of the properties owned
by the Company, and is not associated in busi-
ness way with any one interested in the Company
or 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 ............. $2.72OO0OOO
Undeveloped Proven Leases. - 1884. 10000
Undeveloped Sem-Proven Leases 21O.ooOOO
Undeveloped Leases in Favorable
Territory NEUTRALITY-SUSPICIOUS.. 0H4,oOOW
Pipe Line Properties. Equipment
Contracts, etc. c................ 1.OOOOOOOO
TOTAL. $6.709O55.OO
Now, the stock offered to you, the people. at
$3.50 the share-a 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 .heir 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-
duction, 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.
lam sure you will be interested in the statement
that not a single officer director, except the
Secretary-who is also Assistant Treasurer
draws one dollar out of the Company in the way