The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-16
Ticker Dope

Narlaud OH company has com
/ rlotcd Carmichael no. 2 In 3-24-l,
/ which 30 considered ~ proving up
/ northern extension 90 TOukawH field
/ iu Noble county Oklahoma. We'll was
| completed I'm tho sand at 2.14O feet
and had initial flow Of 1000 barrels
day
Guif OH corporation win declare
200 per cent stpck dividend os part
I % the plan 10 rcadlustmcut of cdpl-
tnlIzutiou
For six months ended Juno 30,
1929 Producers a. Roruors Corp. net
operating revenue OF Sl.pli,747. Aft
or doducung ait charges. including
interest depreciation and depletion
ana tax. ana after preferred divl-
douds for tho period. surplus avail
able for common stock was SLID
300. This Is an annual rate Of about
~ per cont ON outstanding common
and best showing IN its history.
Coadeu shares continued 90 nd-
vance Yesterday despite the denial
ot the Standard OH company Of
New Jersey that IL is negotiating for
control Of the company and the stock
at the close was within "a point OF
tho high OF 90 "a After tho close
Of the market it was announced un-
officially that the reported deal with
Royal dutch also is ore. il had been
rumored few days ago that tho
Royal Dutch had an option on the
stock, which II apparently has failed
TO exercise.
INDEPENDENCE Prairie
Pipe Line company declared an extra
dividend OF 81 and regular quarterly
OF 81, payable October 81, stock rec
ord September 30.
Pearl q co. says: "sinclair and
Cosden have raised the price Of their
crude oil 20 cents barrel in Okla
homa."
Light buying is reported on oil
products in petroleum market, with
no change I'm quotations. Gasoline
Ia uneasy, because jObhers expect
tank wagon reduction and declare
conditions warrant II now more than
over. RcflnCrs insist II cannot be
looked for before end OF the month,
or later.
AN Mld-Continent oils aro getting
stronger on tho belief that the oil
situation Is getting better. Some cx-
ccllent buying last few days. Mar
ket holding lts recovery from yos-
terday's low In an excellent manner.
and indicates TO US a better market
ali next week..
NEW YORK K-CQnsumptlon OF all
leading grades of refined oils dur
ing August resulted In large with
drawals from supplies held in stor-
age, according TO reports received
by American Petroleum institute
from rcfiucries covering 65.5 per
cent OF operating refinery capacity
In the United states. Gasoline stocks
showed largest decrease with 3i.9Il,-
4lS gallons being taken from storage
of refinerlcs reporting, These fig
ures indicating largest withdrawal
from gasoline stock for any month
this summer.
For the first time I'm many months
fuel oil stocks were drawn upon,
more than 2O,0O0.000 gallons hav-
ing been taken out Of tanks during
August.
with this situation occurring dur
ing "A summer month, accelerated no
doubt by coal strike, It would ap-
pear that winter consuming season
of fuel oil will see greatly increased
consumption. kerosene stocks were
drawn upon for about 25,000,0G0
gallons and lubricating stocks about
100000 gallons. Another feature
OF tho report Ia that first real de-
crease In Mexican crude oil in stOr-
age in this country occurred IN Au-
gust, with 1,llG.0S5 barrels having
h''ll A'iN'h tAl VI Nlllha VI lflllltAAfS
reporting, End OF July there were
23,162,0O0 barrels of Mexican crude
I'm storage in this country. Domestic
crude oil storage at rofinerieR in
creased 3S6,579 barrels for rohneries
reporting during August.
Closing Stock Letter.
Rumors that Ford plants will close
down next week brought in some
professional selling; but this Is not
enough of a market factor 20 either
put securities prices up or down, In
any event we hear from our Detroit
office that they hear Ford plants
will not close down next week. If
that means anything market-wise..
Market has been behaving spleud-
Idly all day. with new pool buying
and now stocks going up. Every
thing now points to a better market
next week. on the whole. the weeks
performance has been remarkable,
considering the selling waves Tues
day, Wednesday and Thursday
mornings.