The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-01-14
Ticker Dope

NEW YORK, Anglo-Perslan OH
company to issue -four million pounds
ordinary and eight per cent preferred
shares at ~ shilings "a share Tor pre-
terred and IA pounds fos ordinary.
dinaiy.
DCnyer--ppcratOr In the Salt
creek have been notified by the Mid
west Refining company that IL wIil
accept forty per cent of the Capac-
ity Of all wells, the run to he based
on the tinal rcsuiCs of the test made
during December. This ia an advance
of five per cent In the percentage but
may bring decrease In the actual
runs In some cases whore the Capac-
ity of well has been ovcrcstimatcd.
Al Is part OF the revised operating
plan tor the field that not more than
one wed to Caeh forty acres shall be
drilled and tnat suCn wells wih not
be drilled In location that will neces-
sltate Otiscttiug.
The Denver National bank is now
maEing delivery OF the new stock of
the western oil Fields corporation
ON surreder of receipts given by II
When warrants were delivered and
pad FOR. Stockholders who have not
received their certificates tor new
stock wfll receive the dividend on
such stock irrespective of whether or
not tho certificates have b actually
uctn delivered.
The head of Mid-Contlncnt Re-
finig company yesterday said that a
reduction of price of aid Continent
crude W not expected tor at least
thirty days and tnat II Will not come
then unless the market for oil pod
ucts gets much worse. He say saso-
line situation consumption In the
middle west in December was nine
per cent more than same months in
1920.
Dow Jones-Although Sinclair oil
showed earnings tor iIrst fix munths
OF 1921 OF only SO cents a snare,
earnings for second six months have
been sufficient to BRING earnings up
to more than 81 IA share for the year
While Sinclair had 10 write Off tor
| depreciation the first six monlns
$o,lOO,UO0 according TO it's published
report, It Is believed last six months
[ OF 1921 could furnish a oasIs Tor
writing up its oil on hand by twlce
/ this amount, or by more than
$l2.00U,O00, but II is not likely to be
uune, Advance in price oil Tor more
than ten millions Sinclair has on
hand Nnl probably De shown in
/ nottcr earnings Tor 1922, as oil IS
/ sold. some oil companies, 1t is said,
allow dll advances ana declines 20
] appear hllS ll lut ptOlll ana lOSS
sheet as oil liz sold. Some OF me larg-
/ est stockholders in Sinclair are Char-
| ing unuer the curtallment policy.
| 1hoy say Sinclair was butt for cN-
/ pansioup has been hated only by tho
monetary stringenCy and To MosK
| out It's uestiny and maoe fun use OF
/ it's plants ana facilities must so tor-
/ ward. Already there Is talk, SincIa. r
/ pipeline facilities are Inadequate Tor
ItS business and refinerIes should be
enlarged TO the extent OF at least ten
million barrels. II may he "A matter
of debate AS to whether the company
can expand under a nondIyidend
. paying stock. Conservative finan-
ciers believe dollar spent from
earnings Is carefully spent and null
! upl.es itself In value OF the shares.
SIN some directors favor plans lhis
year tor resumption OF dividends,
oil situation is naturally bound
up with Mexican situation, IL Mexico
continues large producer and opens
new fields, Sinclair may be called
upon to go forward with It's propose d
refinery at New York. 1t is oeneyed
Sinclair can finance itself, extend its
refineries and enlarge It's pipeline
from lis surplus eanlngs IL no divl-
dends are paid. II oil prices do not
decline Sinclair ought to earn more
than a million dollars "a month for
new construction. The organization
has been very much strengthened
and solidified the past year and wi h
further decline in money rates finan-
cisl interests as usual will again be