Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-08-12

COMPANY during June continued -
show guod iinpruN omcnt at earning AMI
active dci ciupmcnt work in various
fields and pools In the Mid Contin, 20
territory was carried on ~ present.
In kan'ns and oklahoma active drilling
npsraiins are under way hy Empire Gas
and Fuel Company and sIhsdiraics IN
~" Eliorado, the Augusta. IN Filling.
the Douglas and the i,0-ila pouls ui
Buucr county. kHuss IN The Trtrr
and the Beaumont n,lds IN Gr, ems pcd
county. Kansas. m a., ilurcur, pul u
Chautauqua county kpusis ~ ui,l
hOinn. active operations ATE being ta".
Ii~i on va the Cherokee nation m N.sl
ingtrn county. The Olg' nation 90
'lSgc, cuunty. tn Umpire aud Duncan
fields in stephens county tho iN pYW
IN Carter county tn Walters pool o.
Cotton county, IN iirrgs pod Boo 90,
mulgre county ana the Hewitt paul loo
Carter county Tho uutlunh BOO thu Ui4
production ond Ol tho rmupsnNs oper,
lions has meyer lp'n bc,tor The nrN
acreage recently developed has proven
very pa Nail' and operations Ly Em
itre 'as and Fuel Company. ~ well az
by other companies haze enhanced the
values Ot other large tracts ~ hud
which Empire ,ias ana Fuel Cunpln,
has indor lease in the uil fields whicl
AT the present time are holding a."
ATTENTION OF experienced uil operator
Earnings ~ cities service oCmmu'
TOR the firs, six months ~ 1899 shovel
an increase Of sl.pN0tSl IN grus, o,tr
the first nN months 81 1919. while. at
ter providig Tot an expenses iutttpS.
preferred dividends and other prior
charges, there wRs balance Cor IA
Elk months available Tor reserves. diyl
deids on the Common stock and sur
Plus Of te.ls0,3i2, an Increase uf 81 go d.
no over the first siN months II 1917.
tps balance being equivalent o. 50 o.
u share year on the Common stock
outstanding In the hand suf the public
For June. 1890. gross earnings iutrras
cd t53s.s32 over June 1919. while after
providing Zoe all expenses. interest pr,
TERED dividends and other charges. thu
balance available ior reserves. dividend,
on the Common stock and surplus 81
the month was 1888 96s. an inrreis,
at ts05,s65. ON JUS I. 1890. total su
plus and reserves - Cities ScrN lrpI
COMPANY were tig.3gs0il, while Tor tn
twelve months ending Junt seth there
was earned on the Common stock oui
standing IN the hands ul the public
st0.iJ a share. with requirements fui
payment u the preferred dividends ~
the twelve months earned ia3 times
In the first siX months q 1899 rvuuir'
inents for payment II preferred diVl
dends were earned iej times
Developments In the older aud prove
adj fields controlled hy cities sertic,
Company and subsidiaries prurs,-l.i h. |
June IN a most steady and satisfactory |
manner. There was greater activity |
In the Teeter District and incr"ae~i
production was bruguht In. Active
drilling wa Sin progress In the Usig
nation In Oklahoma. and production o.
the Empire pool IN stephens count, |
Oklahoma. continued az The rate 81 from
1900 90 5000 barrels daily 4 fair mum |
her Of wells Was completed during q.
month. although Jun. was somewhat
below the average with Empire Gas an
Fuel Company slbsidiaris In Eldura
one well was completed. two IN IA
gusta. two In Ebling, one in Tcctcr. fiys
In the Empire pool and six IN the Osag
a total q seventeen tor the monih
In the foreign field the Spirl, II ~
operation that II beinE shown hy IN
new government IN Mexico city towards
foreign capital. particularly the uil ~
t.retts located there. has created ~
optimistic atmosphere. the Mexican ou
-rations never presenting brighter
outlook than a, present RAPID pre-
Eress 10 being made in drilling Well ~
on Lot liz. Chinompa. by the ia a.
Gas y Combustiblc lmperio. : \ tn
vel. which u located in one u n,
most productive oil districts ~ Mr1ic
had reached a depth of l.1i6 feet -
July s. Much interest ccntcrs araun,
this well and the management seem
Justified IN expecting that uil In larg
quantities viii he struck at leo fe-t
90 less. Drilling IN the Panuco fielG
u also progressing Satisfactorily. Magt
vel No. ] a. the National Pctruleu .,
Corporation having reached a depth OF |
ssl5 feet early in July and Rol,l,s wral
No II the Tampasls on COnpan, |
was reported drifting nj les feet Vt IN, |
assne itme. Sales nd expectation
Panuco crude oil for the month - Jun |
were approximately the same az a.
the month 81 May when more tha |
100000 barrels were sid The msrkr |
Tor l'anucu crude continues firm aud
further lncrcas" IN price may De- expect
I'D In the immediate future.
Excellent progress T. being made /,
various rate cases Of the public subs
laries 81 Cities Service Company. mar
ucularly ihoae IN Ohio These suli-l
t1ricr have also been succes ful "A
keeping up with the increasing cust az
tnci. and u appears that since the IL
terrtate Commerce Commission has
seen NJ 10 improve the p0wer supp.
situation that the fuel cost should ,e
act TO a more nearly normal basis which
woui mean marked Improvement ~
the net earnings of all Cities s.rvic
company public service subsidiaries
The management has adopted cor
servhtive policy regarding extension
a. al
service organization Is concentrating Yt
the present time IN an attempt y In
augurate further operating econuui.-s
increased.
in'e-meni Opportunities.
Econoniits are n0w urging The pur
mas 81 long term bonds by investor.
" u rue That the man who made i0r
term bond Investments IN IRE war dst.|
nov has fun reason g. feel d. .our,g. 4
oser his Investments lic has seen tho
market price - his lnvesiin.nis dooliu.
materially end. NJ Tho u,n,s tiime has
seen the pnfchssins ppssr q his ln
cone drop 20 pot cent ~ more On tn
nther hand. the man who purrhasss
long term londs t'dly D. in an sutirei.
diffcrcnt position. IT, can Luy '.ufJ
long term honds N the iuWes, prize ir
the history ~ finance in the i'nit.dI
sthtts and hif purchases are made 20
tline when The return 90 the iuys.tmsfi
Iuily discounts the derrra@I pu-rhss
mt power u the dollar
IN a recent bulletin on Investments
snd The vision ~ purchasing long
uine bonds ~ this time. i,'gsr Rabaof
sayH. On the one hand IN. dollar 81
t0'isy is ahle o. buy l.r mafsfiai. a. n
stuff. real estate or rerssnsi usr,i..
Than IN half century. on thr other
hand liz. .ullulIn lr.n.- L. IN. 49,