The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-07

well OF Mammoth OIL company, SIN
clair subsidiary operating on Teapot
dome lease blew itself Ia today and
ls now flowing wild making 10000
barrels Dams are being built 20
catch the OIL Flow was wholly un-
expected
The short interest In Pierce on
preferred got a bad licking yastcr-
dsy. the stock has been "A target for
the bears for several weeks past. the
reason for yesterdays spectacular
advance was found tn the announce
ment that new interests have been
added 10 board and and that Henry
/ /. Doherty and company have agreed
10 undertake the procurement or
sufficient banking crodit for the cor
p0rntion to enable ~ 90 function
without embarrassment The same
Interests have agreed tJ provide
crude oh supplies and other prod
ucis required IN the operation Of the
compnny'p business. other Interests.
however promise 20 contest the oiee-
ton OF tho new bOurd.
The wcckH rise in stocks has not
proved at nll profitable 90 mo ma
jority ~ traders, according 10 OBJ
servers on the floor. VINO state that
profcasionais have bcvn fighting the
advance. Instead of playing along
with the upward trcnd, It II Haid
that mnuy operators have persiat-
emily sold tho market short In the
face ~ the favorable trend of events
In the nour east and bullinh henti-
mrnt created ny the proposed declh-
ration of n 700 per cent stock divi-
sion hy standard OH Of California
aud the belief that othcr members
of the standard OIL group will soon
announce special distributions to
ockholdcrs. There was time when
the rank and file IN wall street was
willing 10 admit that 70 knew abso-
lutcly nothing about the plans OF the
standard on interests. General rec
ognition was given 10 the fact that
there was no such thing os well
Informed quarter" except In the IN
ner circles ana in those excessive
conversations were ~ premium
only the other day some outsiders
claimed to have broken into this
inner circle Of exclusivcnoss. They
thought n clear case had been made
for n big stock division for Standard
OIL OF New York. The information
vas accurate" down 60 such de-
tnlls as the time for mailing this
dividend notice. Every one who fol-
lows the market knows how this
development failed to materiaize
and how the stock fell Off sharply
the next morning. Undoubtedly some
OF the same outsiders have gone
ahead boring In for more infOrma-
ton and they now believe that they
know what is going To happen 20
standard oil 81 Indiana. After the
New York incident California stan
dnrd on declared It's 100 per cent
| dividends but the outsiders ala not
| know about that Wise heads IN
brokerage houses admit now that
the walls built up around standard
| oil directors rooms are iuat as high
and impregnhble as they ever were,
Advance Of Standard oil OF New
Jersey IA believed to be forerunner
| or another large melon cutting. In
| dcpendent Oils believed to be In line
| for much higher prices.
Pierce oil buyoTs apparently con-
| ;,a.r: ,su1yan:'= affairs are finally
arranged through new directors
NEW YORK.---Tidewatey OIL In
which standard OF New Jersey has
40 per cent stock interest sold al
new 1927 high. Company passed It's
dividend early this year. but In first
ak months earned at annual rate OF
more than old IS dividend. ola cir
cles expect n dividend resumption
by Tidewater late this year.
BERLIN German American Pc
troleum company. branch OF stan.
dard OF New Jersey reports Tor isAi
net profits OF 2.730. 100000 marks
ngainst 2,39O. 900, 900 In 1920. Gross
profits totalied 100000, against
$3.50 100000.
Resignation OF Allan 4. Ryan as
vice president, director and chairman
OF Ryan Petroleum corporation and
its two subsidiaries. RYAN Petroleum
corporation and Morton Petroleum
company. has been accepted. L. A
Rowland Of Bartlesyille, Okla ha'
been named to succeed him as wee
president. Phelan Beales, chairman
OF the board and Jerome Levine az
director.
standard oil OF New York de-
clared stock dividend OF zoo pei
cent increasing capital from $50
OOO, 900 TO seas, 100000 and reducins
pAr value OF stock from 800 20 $50
Dividend is payable stock record De
cmeher I, special meeting has eeer
! c.tiad for NoVemhpr Z TO vote or