The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-06

surplus hulit up IN past years IN
making tho announcement, tho d.
rcctors. IN their meeting al san
FTanoisco. said The Increase iu capl-
tai stock Ia due 10 rc-invcstmcnt Of
tho earnings during the past year
and growth ~ its buslncss and 10
tho discovery ~ valuable Oh fields
which have greatly increased the
value of Oh producing properties uf
the corporation
To say that tho proposed ieclara-
tipu ~ 70 100 per cent stock dividend
by standard on N California. direc-
tors came 20 n surprise would be
putting n mildly Tho street had
calculated thot n would he another
member ~ the standard oil group
which would he the first 20 announce
special distribution ~ Fh1rohOldors
following tho action Of standard OH
~ Kentucky The consensus ot
opinion was that 10 would be tho
New York company The recent nc
ton - tho Standard On ~ California
shares, however. indicated that
something important was pending
The element of surprise in the 100
per cent dividend proposal was OK
poctod IN o. split opening ~ the stock
from 1871 - 20 13l, compared with
Tucsday's last salo NJ i2S. After =
further advance 90 1873. q new high
record. The stock ran into profit
taking md rcocdcd to 132 ~ nj the
close. a net gnin ~ 4 - points
The proposed increase In the stock
~ California company from fllh,-
600 600 10 22h0.0O0 600 involving the
declaration of 100 per cent stock
dividend. on the tlOO.07l,lll stock
now outstanding will give the com
punv 10 .O00, 600 authorized shares OF
NJ par value ~ i25 each. Thia VIII be
tho largest share capitalization OF
any member of tho Standard OIL
rrouu M irtimatiuu was given In
tho San Francisco dispatches NJ 70
tho dividend that viii be maintained
ON the Increased amount OF stock of
tho california the present annual
distribution amounts 20 50 n share.
In 1921. the company earned net or
f33.6SR.231 on tho approximate to-
tai 81 5000 900 shares outstanding
mr. sg.4b a share out of last years
surplus fi5 500 00n was paid In divi-
dcuds. Maintenance Of tho divi-
dcnds Of 81 on twice the amount or
stock would REQUIRE about sal 900
600 annually The company I'm the
past has been generous In It's distri-
button ~ dividends. In 1916 n 80
pcr cont dividend was declared and
1917 ono ot 30 Ia per cent or
$3.50 600 600 earned I'm 10 years
about 80 per cent has been distrib-
utcd IN carh dividends ana 60 per
cent re-investcd In tho business.
Tho announced decision Of stand
ard OF California directors caused
active huylng In all the oils, hut u
was tho standard oils that received
tho greatest amount of attention
A ~. 90 II in nN ~ m q N 4 Y
on tho curb were tho following nd
vanccs: Chesebrough Manufacturing
"A t-2 points; Ohio oil, 7 points;
prairo OH e. Gas. 10 points: stand
ard oil Of Kansas 10 points, stand %
ard oil Of Nchrnska. ~ points. and
Standard oil of ohio, 36 points.
Standard Of New Jersey on tho big
board sold up TO go IA but rccoded
at tho close 20 2Oi SIS net Of | 3-S.
There II strong feeling IN the
street that active standard OIL In
terosts nre 80 a large extent rcspon-
sible for the broadening activity I'm
| tho stock market. In support of this
contention repeated reference Is
made to the continued strength OF
| the entire Standard oil list with ru-
mors OF favorable developments
| Evidence Standard Oils following he
ing active In other pnrte NJ the list
Ia not lacking and there Is quiet tall
~ these interests transferring broad
operations later from the oil 10 th'
railroad group, with those Inherent
strength thoy arc deeply Impressed
Tho purchase Of many valuable OF
| concessions NJ low prices caused 10y
sacrificinl sales during and after th'
! war iR said to have put tho stand,
ard oil element NJ homo and abroad
In an imrregnnhle position finan.
cially and tho vast interests acquired
arc Roid TO he organized on n highly
efficient operating basis,
standard OH wealth with It's con
nections can approach closer tC
| market domination Rt times thar
any other single interest, accordinl
to gossip heard IN important finan
clal circles, whore Il Ia declared tha
this contingent, noted for greaI
vision IN the past, Is looking ant
preparing for big business expan
| sion next year.
Total production in Toteco WA
80 600 barrels NJ which Mexican Pc
trolcum obtained $4,000 and Gul
on 1900. This Is a low record fo
these companies
In ENhvunry Toterp nrOducinR WA