The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-03-31
Annual Meeting of Marland
and Kay County Gas Cos.

IONCA CITY. Okla, March 40
Tho annual business meeting OF the
stockholders OF the Marland Refin.
ing company and the Kay County
Gas company, sister corporations
headed by L.. W. Marland Of this
city, closed yesterday with meetings
or the boards Of directors. which
were elected by the stockholders for
, the ensuing year as follows.
Marland Refining company: Il.
| W. Marland. W. H. McFadden, w.
| @. Backey q. =. Callahan. John s.
| Alcorn, r.. Park Geycr. w X Moore,
and $. G. Collins, jr., all Of Ponca
city; Vernon Taylor Of Washington.
Pa; John +. Stevenson Of Wheeling.
w. Va, and j. l.. Nicolaus of ST.
| Louis, Mo.
Kay County Gas company: T.. w.
| Marland, w. II, McFaddcn. John :.
Alcorn, w. G.. l.ackcy c. G. Brown.
All of Ponca city. T.. n. Potter of
New York city and r. j. Mcdonald
I Of Wichita, Kan.
There were only two changes in
the board from the 1920 list: i.
Park Geyer, the chief gculogtst for
the company, was made a director
| OF the Marland Refining company 10
succeed j. -. Gallery of Pittsburgh.
! Pa, who had requested that he bc
] NV l'-NlNNN'lt uhl WHO ItIAlIN MS
seat as "A director or the Marland
! OIL company now the holding con-
cern FOR both Marland Refining and
I Kay County Gas companies. the
other change was the election OF 7.
| j. Mcdonald OF Wichita to the
I board Of the Kay County Gas 10
succeed Sam g. Collins, ir., who re.
/ signed and who Is the general man
lager of the Marland Refining com
pany
BY a vote Of the directors Of the
two companies the cash dividends OF
| January Is and April Is woro
! passed.
President Marland's Report
In his annual address to the
! stockholders Of both the Marlaud
Refining and Kay County Gas COM
| paniCs President l.. W. Marland
stated that "at the present timo
| Mariand Refining company owns or
| controls through subsidiary and
affiliated companies production and
| production reserves estimated at
| 22.000,000 barrels. sufficient 90 sup
! ply its refinerics to capacity for APP
| proXimately 10 years: no doub,
| these will be greatly increased
! Through the development of our
large undevelOpcd holdings, which
number 600 and cover 10000
acres"
In regard to the earnings Of tho
various departments of the Marlaud
| Refining company for 1920, Mr.
| Marland gave the following figures.
Tho refineries, representing total
| investment of si,GS7,G20.63. re.
turned a net earning for the year
! OF 31607+2
The casinRhead gasoline plants
with n total Investment OF S526,97O..
| 80. gave a net return of $12S,791.lS
The lease operations show a net
( earning OF s3,SS7.796.O2 on a total
/ investment of s7,673,706.SO, ovei
sl.4O0.000 Of which represents the
cost of leases yet undevelopod and
therefore non-earning.
The total net earnings OF all units
| of the Marland Refining company
| for 1920 aggregate s5,i55.59G.S2
from which operation deductions
have been taken, leaving balance
| of s4247,s75.15 as total net income
available for surplus and reserves
Kay County Gas Company.
Mr.. Marland shows tho earnings
| OF the Kay County Gas company for
| 1920 to be az follows:
Oil pipe line division earnings OF
| ST3l,4a0.4O on an investment OF
s2.4s2.154.S7.
| Lease operations earnings, S319,.
| 542.04, against total investment iii
leases and equipment OF SS,495,1S0.-
10. OF which sl,200,000 Is in leases
yet undeveloped.
Gas utilities branch shows loss
for tho year OF s31.7os.oi, due 20
tho low prices OF retail gas in this
district"
The total earnings Of The Kay
| County Gas company for 1920 ng.
gregate s921,S2i.23, available for
surplus and reserves.