The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-28
IN THE OIL FIELDS
Office: e241 w. PECK Residence 2442

capitalization and stock dividend
distributions are expected In near
future We're higher today and In
some cases at highest price on
record. standard Of New York was
strong az $50, highest on record. ad-
vance OF 81 points following gain Of
| 20 last week
Company has made no stock dis
trinu'iIu since 400 per cent stock
dividend was paid in 1918 bringing
capital up to present $75,OO0 600. It
| is said 10 split tie shares into S2j
/ par value and pay 80 per cent stock
dividend. Another step expected j.
thking IN of Magnolia Petroleum not
/ now owned by New York company
on basis OF two New York shares fer
| one Magnolia. standard OF Kansas
again sold at 500, highest for this
year on expectation that Its $4,000
| 600 capital stock will shortly be
raised TO $4,000, 600 and a stock divi-
| dend. subscription rights and split
/ ting Of 500 par shares into $2l par
| to follow. Vacuum oil duplicated
record high at SIS splitting OF its
shares with stock dividend is looked
for.
Never IN recent history Of cor
poration have immediate prospects
| been so promising and outlook so
| bright ae today 1id Vice President
Mott, OF General Motors corporation.
Insiders In Sinclair say the com
| pany Ia IN the strongest financial
position. Some months ago $50.
! 600 600 I'M bonds werc sold 20 take
lup S45,o0u,p0 OF ~ per cent five
| year notes due in 1925. on Septem-
| bor II Il was announced that on No
| vembpr 10 the outstanding notes
would be paid Off at 103. These
lnotcs are convertible into one share
/ Of per cent preferred and one
quarter share of common FOR each
500 Of notee, u Is understood that
a syndicate has been formed TO un-
| derwrite the conversion OF these
lnotes. This means that the company
| VIII have all Of the cash 10 raised
from the recent sale OF bonds. II
also has or will have ehortly the
l$l6, 900, 900 paid by the Standard OIL
company Of Indiana for one-halt In
lterest in its pipe line. All floating
debts, II is understood, have been
paid off.
Both on the stock exchange and
1.-THE curb yesterday sensational adj
vances In the Standard oil issues
were easily the feature Of the day 3
trading. on the "big board" Il was
standard OF California, rather than
| Standard Of New Jersey that at
tracted the largest speculative fol-
| lowing. This issue after dropping
in the early part Of tho session 20
116IA, became strong In the last
hour and Just before tho close
touched l2O%, within T. fraction OF
the record price OF 12i since tho
stock was listed. on the curb stand
ard of New York reached a new high
OF SAT and showed "A net rise Cor the
day of 4S points. In view OF the
strength displayed by these and
other Standard Oil stocks, 1t wac
only natural that rumors were again
circulated of impending stock dis
Itributions. In one quarter 1t was
pointed out that such action IS now
deemed practicable IN view Of the
feature OF the new income tax law
TINT places a levy of only l2ia per
cent on securities held for two years
or more. The Standard oil company
OF New York has made no stock
distribution since the 400 per cent
lstock dividend paid In 1913, bring
ing the capital up 10 $75.OOO,OOO'
According to current rumors the
company may declare so per cent
STOCK OlNlu'Uu anu 0HlAN lho '''' N'
up into s25 par value.
Big crowd In Standard OIL COM
panv Of California before opening,
Looks like fireworks and may heln
Ian the other California oils such as
Pacific, Associated California Pc
troleum, Union, etc.
Middle States OIL corporation an
nounces completion OF wen al
Columbia, Texas, with initial pro-
duction estimated between sever
thousand and ten thousand barrels
per day.
Closing stock letter September 27
1922.-A number Of important re-
slstance points have been broken
within the last half hour, principal
~ Studebaker, BL, CRU, BSB, early
this morning, and corn products.
steel has also broken through and
for the moment looks as II the bears
have the upper hand However, re-
member that even this reaction on
TOP of the decline which we have
had is no moro Of n break than
that which came after the june
highs and wo are getting near
! enough to what we think 10 be the
low point 10 buy stocks with con-
fldence. The bull market for thf
, wear is not over ana those who think
SO will, I'm our opinion, have good