The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-08-11

In the oil industry since the fret
half ~ last year. The report Shove
a surplus available for the capital
stock amounting 20 t2,0Si,734, oquni
TO 81 - q share on the t49,G72,00O
stock outstanding. In tho first half
OF 1924 a deficit OF t3,3Gi 900 was
reported Tho company pays no div
idend at thg present time, payments
having been Suspended earlier In the
year.
! SHELL, Aug. i0.--Union oil ini-
| tlal dividend Union OIL In In line
with our previous messages that
Eventually this stock may be dis
itributed 90 Union oil stockholders
MsO. INV. from floor operator re-.
ports there has been considerable
lswItchinB from MSO into INV on the
| theory thnt former Is essentially a
| producing. while latter also rcflnca
and distributes. Consider II an eX-
ccllent switch.
American Petroleum institute esti-
mates daily average gross crude oil
production in United states week
end August g, was l,i99,1O0 COM
pared with 1.500,i50 barrels last
week.
TAMPGCO, Aug. 10.--Mexican
Seabord produced OG0 barrels OF
oil from Totoco pool IN 20 hours
to a. M, August o. and received
I 900 barrels royalty from Gulf Oh
company, completing present amount
owed.
Standard oil OF Rev Jersey ro-
1sNa - NAA 4 .
cent, 3l.25 gallon for cargo lots
and ~ cents United statoa navy spec
ciflcations
NEW YORK. Aug. 10.--The fol-
lowing Abatement was issued today
by tho standard oil company OF
New Jcrsoy regarding suit recently
started by tho latter company
against the Pure on company I'm the
United Statos district court In ohio.
alleging infringement on the Ellis
patents by use OF cracking pro-
cess which the Pure OIL company
has Just begun mt its Heath, Ohio
plant. II is not 20 be understood
that bringing OF this suit Indicates
any intention or desire on the part
OF the Standard on company OF New
Jersey To monopolize tho use OF
CIhtklnk HIpttHhth OF InN lNpb III
question. The suit was deemed TO
be necessary by the fact that GER
tain interests In ~ industry have
been persuaded to Ncfuse to respect
rights vested In this company by the
grant OF the Ellis patents Under the
circumstances this company Is COM
PEELED TO seek legal redress. with
regard TO that considerable pro-
portion OF industry which has evil
denoed that II intends to respect
our patent rights there Is no dis
position on tho part OF tho COM
pany 10 maintain n monopoly OF use
OF type OF process In question. or to
impose burdens on them or discrim-
lnatory terms OF license, Tho COM
pany has been willing 10 grant IL
censes under It's chacking patents
on fair and reasonable terms. II
granted one such license some time
ago TO Beacon oil company OF Bos-
ton. and license negotiations are
now pending with several other re-
flners,
NEW YORK. Aug. fo.-"The fact
that tho Standard OH company of
Indiana ia owner OF patents on
cracking processes known rs Bur
ton process" ana that Standard OIL
company OF New Jersey has been
for many years llceneee under
these patents, has recently been in
terpreted In some quarters as an in
dicAtion that there was some com
munity OF patent interests between
the Standard oil OF New Jersey and
Standard oil of Indiana. There is
no such community of Interests. The