Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-11-27
NEW OIL. COMPANY
OPENS OFFICES HERE

The New Mexico Oil corporation,
a new institution, whose purpose
is to establish a thorough distribu-
ton of oil and petroleum products
through a series of filling stations
located in practical centers in the
state of New Mexico, to be financed
on the participating operation GER
tificate plan, has leased for term
of years, suite 201, at l24 South
Third street, in the new building
recently renovated across from the
Occidental Life building, and will
make Albuquerque their state
headquarters.
The capital stock of the corpora
ton is $4,000, par value of stock
81 u share.
Distribution Department.
The petroleum products will be
distributed through their own fill
ing stations to be erected in about
thirty three well-located towns
within the state, which will have
an estimated value of about $4,000
per station. These stations will be
located to take advantage of the
general transient trade, but Will
depend upon local influence
through the holdegs of the partici-
pating operation certificates to
build quickly substantial distrib-
uting business.
Refining Department.
1t is the intention to build a re-
finery of about 5000 barrels ca
pacity which will be adequate to
handle the distribution in New
Mexico in conjunction with the fill
ing stations. This refinery will be
located to the very best advantage
of securing the crude and the least
possible rate in the distribution OF
the finished product.
Production Department.
It is the expectation of the cor
poration to put in some leases
which are located in the proven
shallow fields of oklahoma near
Tulsa, where q group of wells VIII
be drilled to the l,10O-foet sand, as
production is found at about this
depth The wells in this district
produce from fifty TO 500 barrels
flush production and settle down to
fifty to 100 barrels, being long
lived as the volume of the sand
is very large in this field. The
shallow drilling makes inexpensive
operating. The oil is of high gray
ity and it is possible to receive from
% per cent to SO Id per cent re-
covery of gasoline, as well as very
high grade lubriCating products
Acreage.
It is also the intention TO ada
additional acreage if same can DE
secured in poven fields.
Petroleum Products.
In the state of New Mexico there
is a gradual increase of about 20
per cent each year in motor power
vehicles, tractors and AUTOMOBILES
so that the distribution of petro-
leum products will increase in pro
portion. With the local influence
the company will have m each
community it will enable it to take
advantage of this increased bust
ness. therefore, building the com
pany very rapidly and upon very
substantial basis.
The directors are A. M. White
president; E. e. Bessire, vice pres
ident M. NJ. Hotchkiss, assistant
secretary and treasurer, and the
officers are: A. M. White, presi-
dent; T.. Il. Bessire, vice president,
Laurence Lee. secretary; NJ. M.
Hotchkiss, assistant secretary and
treasurer; Guy Rogers, treasurer;
A. b. Mcmillan. general counsellor;
j. f, Calongne, sales manager.
a. M. White-General manager
Of the Kansas-Texas Petroleum
company, capital $1,000,000, Wieh-
tia, kans; president KIT Oil cor
poration, capital $4250,000, New
York City.
f. E. Bessire-Vice president of
the Kansas-Texas Petroleum com
pany. Wichita, Kans.; vice presi-
dent of the KIT Oil corporation,
New York City.
Laurence SLee--Attorney Albu-
querque. N. M.
Guy Rogers - Vice president,
First National bank. Albuquerque,
n. NJ: one of the largest and
strongest banks in the state.
A. B. McMillan-One of the most
eminent lawyers and influential
business men in the state of New
Mexico, whose practice is practi-
cally limited to counsellor for
large corporations.
Management.
The affairs of the company will
be managed by capable oil men
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