The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-27
flicker Dope"


ments in connection with the affairs
OF the Producers ad Refiners cor
poration are now pending and 1t Is
not improbable that an official an
nouncement in the matter will be
made In the near future. 1t Is too
early to make any definite announce
ment in the matter and those in
close touch with affairs OF the COM
pany refuse to discuss the situation.
1t is admitted in official quarters
however that current earnings are
now running at the largest rate in
its history and current year promises
to be banner.
Standard OIL company OF Kentucky
declared a regular quarterly dividend
of 81 a share on $25 par stock pay
able July / stock record June is.
Standard Oil & Refining company,
a subsidiary OF the Standard Oil COM
pany of New Jersey, has advanced
crude oil in Orange field, Gulf Coast
district of Texas. 20 cents a barrel
TO Sl.25.
Southwest Penn. Pipe Line de-
clared regular quarterly 81 dividend
payable July / stock record June
10.
Ohio Oil company declared extra
dividend of rs cents and regular
quarterly dividend of $1,25 both pay
able June 80 stock record May 81.
Us S, Geological Survey reports
total oil production United States for
April of 44,657.000 barrels a daily
average of 1,4sS,567 comparing with
4S,634 900 barrels for March, a daily
average of l,504,323 barrels.
Total stocks OF crude oil in the
United States on May / were 1885,
$4,000 barrels, an increase OF A.
100000 barrels over stocks in stor-
age on April /. Oil in storage on
May is equivalent to l72 days sup
ply at April rate of consumption.
Texas and Humble advanced crude
20 cents barrel in Orange field of
Texas.
Middle States OIL corporation,
Scott Garrett No. 4 at South
the sand, found at 3,520 feet is flow
ing 2,400 barrels daily.
Crude Oil production OF Marland
OIL company exceeds 10000 barrels
gross daily. All In Mid-Continent
district. This is largest crude oil
production Marland has had thus
far. Production has been helped con-
sidersbly by recen. completion in
Tonkawa district, Noble county,
Okla, in which Marland drilled dis
| covery well in June 1921. Two wells
were completed at Tonkawa district
this week. See No. 2 l-2 having
$500 barrels production initial at
$500 feet. Tonkawa crude runs
| about 40 gravity. one OF the highest
| in Mid-Continent district and has
about 40 per cent gasoline content.
The California Petroleum corpora
tion and sub-companies first quar-
terly 1922 surplus after preferred
| dividend and provision for redemp-
tion OF preferred stock and bonds OF
subs of $337,735.
California Petroleum corpora ton
for quarter ended March 81, 1922
including subsidiaries shows surplus
OF S57l,57O after charges and federal
tax against $736,722 first quarter
1921.
Gulf Oil corporation stock has
been In unlisted market with sales
today as high as $50 up SO from
Thursdays close. Early In April
stock sold around 400. .oday's level
representing an advance of 200
points in about two months.
Despite repeated denials from Of
ficial source that any merger OF
Gulf with Standard oil OF Indiana
through exchange OF stock Of latter
for Gulf shares. talk still persists on
a merger.
Gulf Oil in 1921 earned s25.O3 a
share on s36,232.500 capital stock
after deducting y36,000.000 from
! 1871 earnings for inventory depre-