Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-12-02

4 stock dividend of 25 per cent was
declared 10 stockholders of the Petro-
Ietnm Exploration company, n of the
nurnam companies, at a directors meet
;ng at Sistersville, w. ", according to
a report published in the last issue of
the Tri-Co News, house organ of the
Durham interests. The Petroleum Ex-
ploration is the parent company of the
Western Petroleum Exploration, which
is the operating company in the west
and has been prospecting at Crown
Butte and Willow Creek near Choteau,
as well as in drilling in the Kelvin
Sunburst field.
At the meeting of the board of
directors of the Western Petroleum,
A. J.. Findley of Great Falls was re-
elected q vice president of that com-
pany. E. A. Durham was reelected
president Of both companies.
The last Is per cent stock dividend
on Pet-x makes q total of 100 per cent
in stock dividends.
Of the stock dividend, the Tri-Co
News says:
Paid December |
THE board of directors of Petroleum
Exploration has declared g. stock divi-
dend of % per cent. Action was taken
on the matter at an official meeting
of the directorate in Sistersville, No
vember 8, and according to the resolu-
ton passed by the board, the dividend
will be paid by December / to all stock
holders of record on the books of the
company November s. No fractional
shares will be issued, but all stock
holders having stock not divisible by
four will be given a warrant with their
| stock certificate equal to the amount
of their fractional share. The war
rant must be turned in to the Sisters
Vile office together with sufficient
! other warrants to aggregate n full
share of stock on or before February l
1923, or the warrant will be void. AT
the same directors meeting, the regular
quarterly dividend of 2 per cent was
! declared payable December Is to all
| stockholders of record December 8
| This will mean that the regular quar-
terly cash dividend will be paid on the
new stock received by each shareholder
Organized In 1920
There has been few of the smaller
independent oil companies with a bet
ter record IN the payment or dividends
than Petroleum Exploration. The or.
! ganization since June J.. 1920, has giver
to it's stockholders a total of $50 per
cent in stock dividends, or based upon
the par value Of the stock representing
the sum of s2,670,3s7. The first stocl
dividend was declared June l, 1920, and
amounted to 80 per cent; the second
issue came on November l. 1920. ana
totaled 80 per cent: the third dividend
| was received December q, of the same
year and amounted to 25 per cent, and
the fourth of 25 per cent came this
month
Added to the excellent showing
made by Pet Elk in the way of present
ing those interested financially in the
company with stock dividends. there
has been paid put since 1919 a total
of $1,361. 871 in cash dividends. This
sum represents % per cent given as
the regular quarterly dividend and 81
| per rent in extra cash dividends, or
t~otaling 63 per cent in a little more
than three years time.
Officers Reelected
Following the election of the boards
Of directors Of Petroleum Exploration
and Western Petroleum Exploration al
the annual meetings Of the companies