davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-06-23
AVERAGE STOCK
YIELDS HIGH

Current average yield on all &C.
tive cash dividend paying COM
mon stocks is not only close to
the 1921 peak, but is actually
higher than the top yield during
any other depression in the last
35 years, it is shown in an anal
yisis issued today by Moody's In
veSterS Service.
The June l average of 9.72 per
cent for 335 stocks compares with
9.92 per cent in August, 1921;
tbs per cent in July, 1914; 9.53
per cent in the panic of 1907,
and only 5.94 per cent in April,
1897. More than IS per cent of
the stocks in the present list are
industrials, while in 1897 indus
trials and utilities each repre-
sented only about Is per cent OF
the total number, with rails &C.
counting for the other 10 per
cent. Moody's states:
"The demolition of the old
theory that rails constituted the
ShOck-abSOrbing group in times
of depression is strikingIy pOr-
trayed by the yield study. The
everage return on the rails is
now 1897 per cent, higher even
than that for the induStrialS
and larger than in any of the
preceding four major depres-
SiOns.
Average yield on utilities, on
the contrary, is till only 5.94
per cent, illustrating the greater
degree of confidence inspired
by this group, which has ap-
parentIy stepped into the posi-
tion hitherto occupied by the
carriers"
The Washington times., 1931-06-23
HANEY ADVISES
CAUTION IN
BUYING
Upper Resistance Level Still
Unbroken and Speculative
Spurts Called Dangerous
By LEWIS HANEY,
Director New York University. Bureau
Of Business Research and Former
Economist Of Federal Trade

of Business Research and Former
Economist Of Federal Trade
Commission.
The news that our Government
is at last beginning to realize the
desirability of doing something to
help relieve the foreign situation
is good news.
That it represents some change
of front and was unexpected at
this time is shown by the action
of the stock market. Apparently,
there was little Of the selling that
usually comes when an expected
piece of good news" gets out.
Prepared for Rally
Of course, there had been some
preparation for a rally; the mar.
ket had been reactionary for q
week. The technical position had
been considerably strengthened
by steady liquidation. Brokers
loans had declined for two weeks,
while stocks had averaged a little
higher.
We can also say that the bond
market has shown signs Of in
creased investment confidence.
While turn to bonds may for o
while mark the reduced interest
in stocks, ultimately all security
markets will benefit by greater
confidence in rail and industrial
bonds.
But the fact remains that the
jump in prices on Saturday was
abnormal. 1t appears as a sur.
prise attack on the bears. The
market was caught off its guard,
and probably a good many traders
away for the weekend wired
hasty covering orders.
Just Keep Cool
So don't get excited.
If the German situation Is 60
ing to be cured Immediately, I
suggest that the logical thing to
do is to buy German bonds. They
are certainly low. Therefore, II
you are about to make a bullish
plunge in stocks, just ask your.
self If you are prepared to buy
German bonds.
I still advise caution, and would
not follow up on such speculative
spurts. Readers of this column
will remember that two or three
days ago it was suggested that an
attempt to mark prices up would
soon be made.
The more comprehensive aver.
ages do not indicate that the up.
per resistance level has been de-
cisiVely broken through.
The Washington times., 1931-06-23
BY FRANK F. LOOMS

During the summer months and
vacation days the toll Of acci'
dental injuries and deaths will in
crease. An analysis of the acci-
dent hazard by the Travellers In
surance Company shows that the
automobile is responsible for one
fourth of the total claims by their
accident policy holders; home &C
cidents, % per cent; sports and
recreation, II per cent; pedestrian
accidents, exclusive Of the auto
mobile hazard, II per cent, and oc-
cupational accidents, 10 per cent.
The number of accidents was
greater last year than in 1929 in
all categories.
Claims Average Higher
That the injuries resulting from
these principal causes Of accidents
are becoming more serious each
year is shown by the fact that The
average claim showed an increase
over the average payments for the
same kind of accidents during the
five-year period 1926-1930, in
elusive.
While the greatest increase in
the average claim payment is due
to accidents suffered as a result
of the automobile, the number of
persons injured in sports and
recreational activities increased
nearly IL per cent last year over
1929.
Golf was responsible for the
greatest number of recreational
accidents during the year, &C.
counting for more than IL per
cent of the total, with non-profes-
The Washington times., 1931-06-23
TanupicO Planning
Bio Ore Elevators

Union of Tampico Stevedores
proposes to proceed with installa.
tion of automatic machinery and
elevators to facilitate loading OF
ore at Tampico, Cuthberto Vazr
uuez, Unions managing director,
states. Property for the project
has been leased from National
Railways of Mexico, preliminary
improvements made on structure,
plans drawn, and estimates re.
ceived for elevators.
The project will involve total
expenditure of between $3.50, 900
to 100000. Work probably will
start in September or october.
The Washington times., 1931-06-23
SherLUiIa- Williams
Earnings Improve

Sherwin-Williams Company in
the fiscal year ending August 81,
1881, will earn as much or more
than it did a year ago, according
to George A. Martin, president.
He said:
"Sherwin Williams earnings
for the quarter ended May 81
were better than last year.
Earnings for May alone ex-
ceeded 5000, ,OOO."
The Washington times., 1931-06-23
OUTDOOR WORK
MORE PLENTY

A marked upward swing in en-
ployment in all outdoor activities
during May was reported by the
U. S. Employment Service in its
monthly bulletin.
Further expansion in road con-
struction was reported in every
section.
Safe Until Fall
Numbers of skilled, Semi-Skilled
and unskilled laborers who we're
unemployed d lring most of the
winter months have been alb
Sorbed and are practically as
Sured of steady employment until
the late fall" it was stated.
Heavy construction work, such
as hydroelectric develop ment
projects, dams, tunnels and pipe
lines, has provided employment
for many additional men, in
Guiding highly trained artisans,
according to the report. It added:
"Spring agricultural work was
at its peak, necessarily requir-
ing the services of thousands of
farm workers. Building showed
some improvement, but remain
ed on a basis below normal, and
considerable idleneSs was appar-
ent in some localities among the
building tradeSmen."
Factory Work Slack
While industrial operations and
indoor factory employment re-
manned on subnormal basis in
several of the major industries,
there was no real decline from
the April average, except that
which was due entirely to seasonal
influences, the survey showed.
The Washington times., 1931-06-23
REQ Motor Voting
Trust Terminated

REQ Motor Car Company has
terminated the voting trust
which was formed in REQ stock
on February Is, 1880, certificate
holders were notified by letter.
. William Robert Wilson, general
manager, noted in the letter that
the results desired had been
achieved much sooner than had
been anticipated.
The Washington times., 1931-06-23
AuChincLOss Firm,
Selma Va. Bonds

A new issue of $3.50, 900 Lynch
burg, Va, 4 per cent public i'm
provement bonds is offered by
Auchincloss, Parker & RedpaGn,
this city. The bonds which are
dated July l, 1881, and mature
in varying amounts Serially from
January l, 1888, to 1862, inclu-
sive, are priced to yield from
2.75 to $50 per cent.
According to official figures the
assessed valuation of property in
Lynchburg is 45,353,874 and the
net bonded debt is $3,044,748.
The city has no separate school
district and the above debt in
cludeS school bonds
The Washington times., 1931-06-23
BOND ISSUE SOUGHT

The Indianapolis Union rail-
way has asked the Interstate
Commerce Commission for au-
thority to issue $1,000,000 Of re-
funding and improvement AZ per
cent gold bonds. The bonds will
be guaranteed by the New York
Central and Pennsylvania rail-
roads.
The Washington times., 1931-06-23
BUYS TAX WARRANTS

The Illinois Bell Telephone
Company has purchased $780,
900 of Chicago tax anticipation
warrants which will be turned
bac kto the city as part payment
of the franchise tax coming due
when a new franchise is put into
effect.
The Washington times., 1931-06-23
U. S. Speeds Building
With NeU Contracts

Contracts for $88,54O,234 worth
Of public and semipublic construc.
ton projects were awarded last
week, it was announced yesterday
by the Presidents emergency EN-.
ployment committee.
These contracts include Federal
aid highways which amount to
$64, 800 and $23,113,844 for 14O
miscellaneous projects in 20
States.
This brings the total amount OF
contracts for public projects
awarded since December / to
$1,769,385,499.
The Washington times., 1931-06-23
REOPEN REFINERY

Sinclair Consolidated Oil Corp.
is planning to reopen the Fort
Worth (TexO refinery, formerly
owned by Pierce Petroleum Corp,
whose properties Sinclair &C
quired last year.
The Washington times., 1931-06-23
Ohio Chain Store
Tax Bill Is Killed

The bill before the house of
representatives of Ohio has been
killed because of insufficient votes
to have it reported for passage.
The Washington times., 1931-06-23
YOUNGSTOWN WAGES OFF

Wage disbursements through
Youngstown banks in the five
months ended May 81 totaled
$26,236,930, an amount approx
mately 1910 per cent below the
total wage distribution Of $32,-
001,57 during the same period
of 1880.
The Washington times., 1931-06-23
NEW SEARS STORE

Sears, Roebuck & Co. will open
a class c store in Glen Ellyn,
Ill, about July /. The company
has leased store.
The Washington times., 1931-06-23

Lib ist 4As 37-'47. los. OS.lOl1OS.1OI1O3.1O
Lib 4th 4l4s 33-3S. .li04.27l1O4.24t104.2
Domestic High Low Last
Abraham & strs 6IAs.. 9sK, s9A 99K
Albany Prf Wrp Pa Is 50 52k 52A
Alleg Corp 6S ...... 70 SSSS% 20
Am IG Chem las. 100 99% 99B
Am Metal 5hs ....l 70 Is 79
Assoc Oil 6s ......i1O2 u l102 lO2
Atch T&SF gen As. 400 n 1904 l00h
At T&SF cvt AVS. .I114h hl114AI114h
Atchi Tr Sh l. 1st As. l00h 100 lOOA
Att Ref deb 5s...... 1O1 l1O1 Il01
Balti & Ohio AIS -. 9Ok go 80
B & o AIS 49,. 1OO& 1909 1909
Berlin Elec IS ..... 695s IS 6S
Berlin City E db 6hs. TN ~ ~
Berlin Ell e u 6As... S2h ~
Bkln I'm Gas IS so. 1O5A 1854 l1o5A
Buff G G. AIS ..t1O6 l1O5&Il06
Buff r g. con 4hs.. 73 70 73
Can Nat Ry 4hs Isl. 1O1 Y 1O1A I1O1A
Can Nat Rys 4%s... 1O31a l103 %s 103 u
Can North deb Is 40. 11SA l11Sls 113B
Cent Pac 1st rf As 40. 9SA 9Sh 9S
Certd P db 515s '4S. 41Bl 4lls Al y
C & o ref B 4hs '95. .1O1% I101l "A 101 Is
Chesapeake Corp 5s... 81 y6A 96&
Chi b & Q ref 5s.....11O 11O l1l0
Chi & East Ill 5s.....i 32ia 52h 32h
Chin StP&P adj 5s A. 25 u PAN IS
Chi NJ $ e. p 5s A A... e. 81 81
Chi & Nor w gen 5s. . 1869 1867 1864
Chi r l g. P gen As. -. SSfs 6Sh SS&
Chi r l & p AIS CIV. = 76h Ib1s 76h
Chi Un sta 61as Co. 115& l115% l115%
Gcch&stI GGi GSRpsF ref 10 as ss E. IS SsH ssss ssx
CCC&StL ref 5s Dill los HOS los
Clev Un Ter 8 rs A '72I11Oh I11Oh
Colon Oil is '3S...... SO SO So
Col G&E deb 5s '52. . 97% 971aI 97h
Corn Pr Ref 1st 5s '34I1O5 los 1O5
Crown W Pap IS 81. S6% S6% $50
Crown Zellerb 6s 40. so 60 so
Del & Hud 518s '37. I1O4% I1O4% I1O4%
Denv & RG con As '36 93B SO SO
Denv &RG w IS '55.. 80 Sc Sc
Dodge Brs cy deb IS. SO SO SO
DuQuesne 1t 1st 4hs.I1O43s I1O4h 1O4H
Eleo P Ger 61as So. rs 75h 70 a
Erie Erie ST ey ia ts IS 5s 81: 81: s4 ss ~ 81:
Fia F5a' re; coass RS S' IS II is& M iH7x i i7s
Fran Ind Dew db 712sI1O3 1903 103
Gannett 6s 43........ IS 73k' rs
Gen Mot AC 6s........ 1O3 u I1O3h l1O3A
Gen Pet Corp 1st 5s. 102 y 102% It02%
Gen ? S 5l2s....... SO 90 SO
CT Nor Ry gen 4l3s D 965s 96B 965s
CT Nor Ry gen 412s K 81 96A 81
CT Nor Ry gen SIS C. .l1O3ta 1O3 = 1898
Hud & NJ adj inc 5s.. 795 1914 1914
Hud e. NJ ref 5s....... SO 9S5s 9S3s
Hudson Coal 5s....... 81 56% 81
Ill Stl deb .l1O3i5 I1O3 Z llOS u
Ilseder Stl 6s......... 6S3s 6SA 6SA
Indiana Limestone 6s "a 33 SO
Int r Tr 1st&ret 5s. 1874 rs rs
Int r Tr 1St&ref 5s st 751a rs rs
Int Rap Tr CIV 7s...... 94h 94k 94h
nc FITS & NJ ref As. 91Ss 91% 915s
KC P&L 4hs.........1 1O5 * I1O5 Is 1O5 Is
nc South 1st 3s...... 77AI II n
kreuger & T 5s WV. 81 81 81
Laclede Gas 5l9s D.. 100 100 100
Lake Sh&M So 3as. S4hI S4% S4k
Leh V CPa) con 4hs. 99k 80 80
Leh V (Pa) con 4s.... 81 S6% S6%
Ligg & Myers 5s....I I1OSA 1OSA 1O8A
Long Isl deb $751;. 1927 1927 1872 u
Lorlrd Co 5hs...... 9SH 81 9SA
La & Ark 5s.......... 40 ASA 40
Mckesson & Rob 51as. 74A 74%i 74%
Manh Ry NY cons As. 81 81 81
Metro Edison 4I2s... .i1G1% I1O1 q 1919
Metro Wat S&Dr 5hs so so so
Mil & n 1st ext 4Hs. 1O1h Y 1919 1O1 Il
NJ SP&S SM gtd 5s... IS IS So
NJ SP&S SM 5Ias. 90 93 90
Mo K&Tex 1st 4s.... SS 87hI IS
NJ K & T 5s A. ..... 95B 9512i 95b
NJ K & r As B... SO SO SO
The Washington times., 1931-06-23
1ancial Nelus Stocks Bonds Commodities and Conn1en
New York Curb Market
lHiRhl Low Last

Alum Co of Am ..".. 129 125 129
Alum Lit A ws ..... 25 rs 20
Alum 1t pf .......... so 60 80
a. a. a $$5::: 5:::: :: :: g,; Il 4
Am Comnw B.....". 20 IS 20
Am Cyanam B. ....... S% S% S%
Am Equities ......... 4h 4b AS
Am f Pw ww........ 1SAI 17% 1874
Am Founders ......... ga 3Ss 3%
Am Gas 6 Ell .... 66s 65 5la
Am Light T...... 3S% 3SH 3S X
Am MaraCaibo ....... q 4 Y
Am Meter .......... 43h 4S 40 n
Am Natl Gas ........ 2B 2% rs
Am Superpwr ...,..... 12s I'm 12&
Am Ut & G Crp b.. 2b "a 2b
Am Yvette .......... 2b
Appalac Gas ........ Az AZ As
Ark Natl Gas ....... 4
Ark Natl Gas A....I 4 3% az
Asso Gas&Elec A... 17N IN In
Att Securities Corp. E. 8h Sh 8H
Bene indus Loan % -. az az az
Blue Ridge cv pf...... 8S& 82% az
Brazil Trac ........... 17h 17h I'm
Brill Corp A........... Az Az Az
Brit Am Oil COUP. liz liz liz
Brit Amer Tob b.. 1S% 1S& 1S%
Brit Am Tob reg. 1S5s 1871 1S%
Bunker Hill ........l 27A 27H 27K
Butler Bros ........ 5A 5H 5h
Cana Marconi ..I 8 2%
Carib Synd .........l 1AI 1Al IL
Celanese of Am Is pf 73 70 10
Cent Pub Md A S. IL IL IL
Cent Sta Ell .::..... SA 81 Sh
Cent sta Ell VS.. Az AZ ~
Chatham Phen All NV. 1914 1Sh 1914
cities Serv pf...... 64H 64K SAX
Claude Neon ......l As AS Az
Colombia Syn ...... n Il \
Colum Oil e Gas vic. 3Al 3 8
Comm Edison ..... 1901 l2O1 201
G%nm1 Gommunisy wstsF =: TX y 15$ u 15* IL
Cont shrs B pf ...... 3OA 3OA SOK
S::ss., S$:s S::s3s e'FS FSyfS, $ss.,.. q, q e
Crown Cork Int A. Az 4h Az
Curtiss Air vic .... 2 2
Dayton Air En- ..... 8 5s g
Deere & Co ........ 27as 27 27Ss
DeForest Rad ..... Az ~ Az
Det Aircraft ........l ~ 1&l IN
Dixon ] Crucible .... 127 127 127
Douglas Aircraft 80. 1871 1SA 1SA
Draper Corp ........ 35 S5 S5
Duquesne Gas ...... ~ ~ ~
Eaetern ae ter St Pwr WI; B.. 124 12E 13H
East Ut Assoc ...... 31hI 31h 81 "
East Ut Assoc Co.. IA l7B IN
EIso EIso B : 5 5 Df.: : 1os% ~ 1sssss ss 1eesss
Eiec P Asso A ....l 1914 1871 1914
Ell Pwr&Lt Op war 21RI 81 21B
Elec Sharehd ...... 14A 14A 14A
Evans Wallor ....... y Y
Fiat Am rcts. s.........l IL IFS II
Ford Motor Ltd. ...... 1875 12A l2?s
Ford Can A......... 1879 1Sh l8M
Ford of France. ...... IA IA IN
Foremost Fab ........ ~ y y
Fox Theater A...... SA 81 3h
Gen Aviation ........ 5& oss Oh
Gen Elect Ltd. ....... 9la 81 9h
Gen Emp Corp. .... 1855 1914 16A
Gen G. & E CIV pf B. 55& 53A 53A
Gen Leather ......... Az ~
Gen Theater CIV pf... 1913 10 lOB
Globe Und EX...... ~ IA *
Gold Seal new. .... q
Goldma Sachs Tr..... 6A 64 6h
Gorham Inc pf WV. Tx 171s ], ::
CT A & Tea w.. I204 204 204
Gulf Oil ............. % % o. =
Hamilton Gas vtc.... 3al 3h - =
Hazeltine Corp ....... 16% 16 1914
Hecla Mining ........ Az Az ~
Hollinger Mines ...... .6B 6B "a
Horn e Hardart...... 3S 3S 50
Humble Oil ....... So So So
Hydro Elec Secs..... 20 1917 20
Upgrade Food ....... As As Al
Imperial Tob Can....
Indian Terr Oil A..... 1913 1nhs l0%
Internal Pet ........ IL 10& 1ON
Int Sup POW ........ 2219 22iz 22k
Int Utilities B........ IA IA ~
Int Util rs pfd xw.... 90 90 %
Irving Air Ch. 1O% 10Is 1U%
italian Sup A........ So 81 81
Kirby Petrol. y
The Washington times., 1931-06-23

ERNEST E. HERRELL
WHO HAS ATTENDED every
convention of the District of
Columbia Bankers Association
since its organization. He is
president Of the International
Finance Corporation.
The Washington times., 1931-06-23
New York Bond Market
Fractions represent Sends
1911 means 1U1 1883

United states High Low Last
aus '31-'47 .l1o2.19I1O2. 16I1O2.1G
Lib LIST 4As 37-'47. l1O3.1Ol103.10l103.1
Lib 4th 4As 33-3S. Ll0427L 104. 24l104.24
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
SHELL rs GREATEST o. s. PRODUCER

How many people, either within without the industry
realize that year. the DutchShe the biggest pro
Queer Of crude oil in the United Statesf
1t produced 5446OO0 barrels compared with 5l65SOOO
barrels produced by Standard Of New Jersey the next
largest producer.
III the rest the world outside of the United States in
1922 there were barrels Of crude oil produced OF
this amount Standard Of New Jersey produced 4942OO0
barrels and the Duchshe produced l25592OOO barrels
Briefly stated inside the United States the DutchSheh
today biggest producer of crude OIL and, outside the
United States the DuchShe produces two and haftmes
much oil the largest producer the Standard
of New Jersey.
The Standard of New Jersey old oil company
when the Duch-Shel merger effected in 1907-and we
have gotten so used to thinking Of the New Jersey company
as the biggest company that don't realize that new
a has grown up right here in midst that today the
biggest producer Of crude OIL both in the United States and
in the world p A. of Monthly
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
MORE HoKUM
" 4nnett Iimes)

IWlnnett Times)
Montana daes weeping giant head type that road
work has been stopped for lack of funds and follow with
mention that another bond issue tax anticipation
warrants be issued the gas tax fund
It is beyond understand the attitude OF press that
always demanding the plunged farther and farther
into debt When is this indebtedness to be paid and by
whom Last fall the cities voted bond issue and increase
the state levy educational purposes and aid for state
institutions The cities may voted the country
they that institutions for the unfortunate
needed financial aid Now however the Greater University
plans to hog practically all the money Gyped again And
for another gypng if bonds for warrants be
issued for additional road building
Certainly we need roads, thousands Of miles Of roads,
but who can expect the third largest state the union with
only 100000 population build highways everywhere in
few short years.
We would be willing to wager that per capita cost
FOR road building from three five times greater than
any other state in the union.
Let's use a little judgment.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
new DEVICE NAY
HAVE BEARING ON
DISTILLATE SALE

A Montana invention which
Dry Creek field in southern Mon
rapidly-changing oil industry is
now being manufactured at
Billings.
The device is the invention of
B. J. Rybin of Fromberg and is
a charger for internal combustion
engines enabling the use Of very
low-grade fuels.
The charger was used success
fully last year on 80 farm trac~
tors in the Billings district and
has been perfected to the point
where 1t is now ready for mark
citing. in the opinion Of its
sponsors.
SEND A CONTRIBUTION TO
THE sUNBURsT BADGER
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
GRANDVIEW

which an oil showing was found
at 2464 feet. The test revealed
that the sand was too thin to
make commercial production like
ly.
Hole has been made through
the sand and into shale beneath.
An effort is now being made to
shut off the water which is COM
ing into the hole around the bot
tom of the 7-inch pipe. When
this is done. drilling viii con-
tinue with testing Of the lower
sands as the objective.
This is the second sand tapped
by this we'll in which very good
showings Of oil have been found.
1t is expected that the well can
be drilled to completion within
two weeks after the water shut
off is made.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
Alberta Oil Ne1Us
On Page For Depth Of An Noo Drilling n Alberto
/ ETHBRIDGE
TEST MEARS
5000 FEET

OF great interest 20 oper-
ators IN both southern Az
berta and northern Montana
is the wildcat Of the A. r.
Consolidated on Company ON
the Spring COuIee strnc-
ture. south Of I,ethbridge.
This well ia now drilling near
the 5,OO0-foot mark. in the low
er portion Of the Colorado shale.
with the prospect that it will be
a completion inside OF the next
1000 feet.
other wells in this district are
also continuing.
Adjoining the city limits Of
Lsthbridge to the south. Joint
wildcat OF the Imperial and Tex
as Companies has set and cement
ed surface pipe.
In the Pincher Creek field,
north continuation OF the MAX
River anticline on which Fulton
Petroleum Company is drilling in
Montana. Alberta Gas & Fuel
Company (ffenry L. Doherty) is
drilling again after third ce-
menting job.
Another well on this anticline,
that Of the weymarn interests, Is
drilling at around $500 feet,
with ample finances for compile
ton now assured.
The Madison we'll is drilling az
around 1900 feet on Beaver
Dome. north Of the border. In
the Mix River field. about IS
miles north Of Kevin-sunburst,
The Commonwealth well is drilling
At past 1875 feet. in the Devon
Ian formation.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
Ill CITY
LAW FIGHT
PREDICTED

Filing Of an injunction
against sale Of AEin CITY as
sets 70 Mercury oils now
looms as tho next develop
ment on the Calgary OH hor-
iron, following 3 meeting Of
minority stockholders Of the
MN City Company.
The minority group has ap-
pointed J. Mckinley Cameron
and A. N. Sinclair as legal rep
resentatiVes.
Chosen to collaborate with the
attorneys. a COMMITTEES has been
appointed which includes Fran
els F. Reeve, chairman, and
other stockholders.
Following on the heels Of the
deal whereby the MIll City Com
pany was taken over BY Mer-
curry in exchange for a block Of
Mercury stock, officials Of the
company announced
their intention Of increasing the
capital stock OF this company to
S 900. 600 shares-an increase OF
z. zoo. 600 shares.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03

This is the fifth completion for
this pioneer company, one Of
the earliest to engage in drill
ing On this field.
separators are now being in
stalled and within a few days
back pressure viii be applied and
production OF naphtha begun.
Until this is done. it win be dm-
possible to make any estimate Of
the wells production. in terms
Of barrels Of naphtha.
The hole is in good condition
and d the flow shows signs Of
decreasing officials have an
nounced that It win be drilled
deeper into the lime.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03

mot barrel of oil produced BY independents in
Oklahoma and adjacent states would have market
today if it were not for results realized through the
Independent Petroleum Association of America"
That declaration made to the division A. this
week by operator Of Montana every indie
pendny owned producing be closed
in at the present time had not been for work carried
Results accomplished the illustrates the aasO
Citations Of usefulness Independent operator Procuring
immediate market portion production the south was
local undertaking. carried addition the program
The great struggle for oil tariff "A providing pc
eum introduced days ago important
source Of support from the Independent
Montana independents their assistance ang
division If member your application
below.
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03
OKALTA2
HITS VET
GASHO

OkaIta NO. 2. In the cen-
trail portion Of the Turner
Valley field, has been placed
ON production TO test q gas
flow tapped $50 feet below
the top OF the lime.
SEND A CONTRIBUTION TO
THE sUNBURsT BADGER
Montana oil journal. (Great Falls, Mont.) 192?-1931, 1931-01-03

OF extreme interest to those
who expect big things OF south
ern Turner Valley is the an
nouncement OF the Imperial on
Company that It has taken over
the Merland well in this area for
completion The well has been
tied up with fishing Job for
some months.