The Hartford herald., 1920-04-14

they are true. The writer made personal investi-
CATION into the various refneres of the country
and found out definitely what profits the
independent refneries were paying these stag
gering in their immensity What then must the
Standard be paying with most of its major obliga-
tions long since retired? Through personal in
quiry among stockholders. pryng out commercial
agencies and information as to income tax receipts
I got the dividend figures on the independent for
last year. 1919:
The Cosden Refining Co., of Tulsa Okla. paid
IS per cent. dividend after setting aside. so was
informed so per cent. OF their earnings for max
ing other Developments Then this wo1id show
that the Cosden Refining Company earned for its
stockholders net dividend of s1.35.
The Atlantic Refining Company, after deducting
all of its operating expenses, paid dividend of
1S2 per cent. The Ohio Fuel Oil Co., paid 224
per cent The Iowa Park Refining Co., paid PA
per cent; the Wichita Refining Co., paid 2s4 per
cent refinery at Iowa Park, Texas, four years
ago skimming plant, confined in its opera
tion to the production of gasoline alone 1t had q
capacity for refining only 800 barrels of crude, oil
day and capital stock of 800, 100000.
The records show first that it earned $50, 90
month for the first year, which would be sS,-
500. 10000 the earnings of 100.00000 capi-
talization Then the New Burk-Burnett field
came in with a vast food of crude oil. The capi-
thousand barrel plant installed last year Still
a skimming plant and making only gasoline it
paid dividends OF 274 per after setting aside
sufficient funds for building a plant of 5000
barrel capacity, which doubt cost them at least
S450.OO0.00 to $500 ,0O9 90 to erect this plant.
These facts to earnings borne out by the
income tax returns. The refinery at Wichita
Falls, also skimming plan and making only
gasoline. with thousand barrel daily capacity,
a capital stock of s15O.00O.00. The plant is
increased to 5000 barrel daily capacity. It has
been only or years that the general public has
been able to invest in refinery stock The Stand
ard aawys kept its own stock for the Standard
crowd and for years the Standard made the lot of
the independent anything but happy one but
that time is long gone by. The two work
together in perfect harmony each helping the
other, The Standard acting distributor for the
independent, is largely dependent upon the pros
perity of the independent for its prosperity.
When the Oklahoma pioneers broke the ice by
actually operating skimmng plant and the pub
lies money let in for the rich and certain pro-
fits Standard Oil automatically established
truce 1t switched its tank along the inde
pendent refneries, paid the wholesale price, for
their products. and the independents relieved
of all the burdens of selling, delivering, collecting
etc. The Standard Oil Co.. could and cannot
supply the market and it is glad to have the help
of the independents.
The Federal Oil & Refining Producing Co.. of
Ft. Worth Texas. is about ready to start running
their modern three thousand barrel per day
pacity refinery. This refinery will be situated and
located in the heart of the great Texas oil fields
We are contracting and have contracted with the
big oil producers to furnish us all the oil we can
refine for the next five years IL should need
1t. but we own and control about 1860 acres of
valuable oil properties scattered throughout the
various oil fields of Texas. which it is the in
tention OF this company to drill and produce their
own oil later on, but do not propose to take
the investors money and take the risk OF invest
ing il in dry holes until have put our plant
into actual operation and placed the same upon
a conservative running basis and have earned liz
dividends for our stockholders at least the amount
OF their investment. and after we have paid back
TO each and every investor fully this amount it
is the company's intention to set aside not over