davidaulloa/AmericanStories huggingface dataset:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
A
BROKERS' MISTAKE

acre. Eight times @70 is SEGA, so
when this tract has yielded an aver
age Of 1924 per acre--Anstead OF &12s-
900 per acre-he will have received
a return OF 100 percent. Every time
thereafter when the tract has pro-
duced 1924 per acre, me might ring
mp 100 percent PROFIT on the cash
register. The AVERAGE yield in
Seminole 70 date would have paid
TWO THOUSAND EIGHT HUNDRED
PER CENT on a S7s base
We think IL very unfortunate that
anyone should buy @ royalty before
he is able to reduce it TO figures I'M
dicating his POSSIBLE profit. Once
arrived az that paant where the POS
SKBLE profits are In sight Mother
Nature win do the rest
How much oil Is an acre Of
ground LIKELY TO produce?
How much oaI HAS the average
acre OF OH land produced I'm rep
resentative OH ffeIdsg
These facts are not theories. They
are statistics. Each investor has &C
cess to these statistics. From these
figures he can ascertain his PROB
ABLE profit from the average royal
tg investment. The POSSIBLE profit
has GO do with nniIIiOn-barrel wells
like the Byrne, Baker and other his
tory makers, bat the really great for
tunes are based on the AVERAGE
and not the history making exceptions.
Let the royalty Investor put both
feet on the ground, using good conn
mon sense and q good lead pencil
and he viii make money In royalties.
The oil Is I'm the ground. II Will be
taken from the ground to care for
the growing world needs for petrO-
leum products by operators who viii
make tremendous fortunes in so do
ing. share OF that oil belongs TO
the Landowners, under the law Of the
land. An investor who IS willing to
share the landowners lot. be IL good
or bad, can buy a portion OF the
landowners share Of the oil, 20 be
delivered by the operator free OF cost
Of production.
It Is our business 70 bring buyer
and seller together. The seller some
times Is COMPELLED to sell. The
buyer bays only when the investment
measures up to accepted standards.
Our members have the advantage OF
understanding those standards.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

into 1-32 OF 1 20 parcels. We ordinarily
refuse to make such divisions. IL Is
unfair 20 the operator who mast Is
sue the division order and It is un-
fair TO the investor. Furthermore IL
involves just as much work In our
organization as preparation Of papers
for an entire one per cent royalty
Ordinarily we w0uId have refused,
but since he is a dealer, we made an
exception and sent the deeds TO him..
Then he wrote back IN great indigna-
ton, demanding that we pay the fiI-
ing fees. He said: II should think
that i'm selling property, which is
purely wildcat, at q price Of $1,000
per royalty acre, the vendor would at
least have the decency TO pay for the
registration"
There Is the important and startling
thing. This royalty DEALER thought
this royalty was costing $500 per
acre. Royalty acre" is the midc0ntd-
nent basis. Tt means 12M % on one
acre. In other words. he thought the
RATE Of cost WIS $500 for ~ " 70
royalty ON one acre. He agreed to
PAY that much. Figure that cut:
He expected-apparen be-
fore be would get his money back,
each acre OF ground wouId have TO
produce eight times $500 or $12,O 600
worth Of oil. (1eMg is ome-eighth
OF the total production, thus eight
times $500 to determine the total
necessary TO pay out-) Yet he snreay
expected q PROFIT. III he hoped TO
DOUBLE his money, the property
would have to produce TWO TIMES
1000 per acre and to TREBLE his
money, to would have to average $780,
600 per acre What were the PROB
ABILITIES of his success ON that
basis2
Now every SEidcOntinent deal
er knows the history Of Seminole
district which has been one Of
the greatest producing areas in
in the United States. Yet as OF
january 4, 1883, Seminole district
had produced an average Of 10
s2s barrels per acre. This OH
has sold for more, but take 81
as the average price. this would
mean q yield Of 9t8,S28 per
acre, average. or Sf0, 1O2 per roy
atty acre--a scant $z10 profit
OF course, he did NOT pay any
such price as $500 base. The fact
ID that he paid S7S per royalty
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

MNHE one idea that we try to inn
press upon our members is this:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
VOTE TO BANISH
SALE OF SULPHUR
LADEN GASOLINE

A resolution calling upon the
Governor and the state railroad
commission to investigate the
sale of gasoline containing more
than 2 of ~ sulphur, under
a trade name, was passed by the
association meeting on Friday.
The resolution was introduced
by E. B. Coolidge who was one
who fought the so-called Skunk
oil bilP' in the last session Of
the legislature and who is now
leading the fight against the
sale of gasoline made from Ore
gon Basin crude, which contains
more than the legal limit.
The resolution passed without
debate, there being none present
who uses Oregon Basin crude.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
SEVENTEEN

present for the completion fail
ed to arrive. It is understood thai
some financial matters must be
Strengthened mp before the well
can drill in. It is the western
most well in the field, IN NE
Corner 16-34-6W.
Alberta Pacific Consolidated
company is allowing its Matson
No. 2 well in SEA sWA IA
S4-6W to stand for a water test,
at the request Of Bruce P. Radi-
gan. state oil and gas inspector.
This well had salt water, appar-
emily coming from the Stewart
sand. This is a freak condition,
IL true, although A. P. Con found
salt water in its Kiesel No.
well in an upper horizon. II
the cement job holds the water,
the well will drill in Sunday.
Tarrant-HOpe No. 1 in sW
corner 1S.s4-5W, diagonally off
setting his Miller producer, is
still uncompleted. 1t began caving
badly below the pipe and the
cave has been cemented off.
There was 800 feet OF fluid in
the hole.
Tarrant-H agland No. 2, NV 4
SEA 13-s4-6W, is fighting cave
at 1915 and may have to run
pipe, for no progress has been
made in a week.
A. p. COn-KieseI No. 2. Sc
SEX swA II, completed its
fishing job and is drilling at
1900.
santa-Rita-OlsO No. 4, N
Cor. 26. is uncOmpleted. although
rated as a 5O-barrel well.
Par Oil Co. will have to drill
out one joint of crooked pipe
In its Haines No. 1. wrecked by
a nitro shot, after having
swedged for several weeks to
straighten out three damaged
lengths. Meantime No. 2 To-
,ation Sc sen sWA 2. is idle.
j. w. johnson completed der
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
a cAIG FoR voLUTEERs

''Who will be the firstf shouts the on the plat
form 80
It is call not for converts, but for differ
ent type of man one who will give up his overriding roy
alties for the good of the cause. -
Down in Cat Creek some of the leases carry only so
percent Of the OIL owing the aday scramble for these
highly profitable While producing oil from the grass
roots that was possible But for deep drilling not good
There will be no deep drilling leases carrying go percent
of the OIL The problem is how to get back the 2l120 OF
overriding royalties Thus the call for surrender OF over
riding ROYALTIES to make further development possible
If the royalties not remedied it will be necessary TO
let the lower hold their oil for another 20 years or So
Yet is is going to difficult to get naturally selfish people
to make deep drilling possible
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

gwNHE one idea that we try to inn
press upon our members is this:
WHEN YOU BUY A DECIDED ROY
ATTY YOU ARE GOING INTO BUSI-
NESS FOR YOURSELF.
To buy some stock is to give your
money TO someone else and wish
him well. He viii do the best he can
for you and VIII give gou whatever
share OF the net profit he deems it
advisable to divide, in the form OF
dividends.
But the royalty investor Is ION his
own" He Is his own corporation,
his own president and general man
ager, his own bOokkeeper and busi-
ness agent. His own decision is final
therefore his degree OF success rests
In his hands. IL he has chance to sell
out at q profit, he has none to blame
but himself either IL be sells for e
tenth of its ultimate worth or fails
TO sell ut the top price.
Having oil delivered to him, free
Of cost of production under terms Of
his deed, he finds that he has to
stand mp on his hind legs and fight
for himself, just as the Montana
farmer with a grWnary full of wheat
has to assume all the burden Of
responsibility i'm selling his wheat. He
has to make his own decision and
profit thereby.
The FIRST thing a man does is TO
make sure he gets what he buys. No
man would buy a town lot and pay
for It without seeing the deed, for
he would want TO check the lot de-
scription before filing the deed.
good business man would INSIST on
such procedure in buying a lot, a farm,
or a lease on a royalty. III he didn't
take enough interest 70 check the
deed, how Is 1t POSSIBLE that he
would ever take interest enough to
MAKE MONEY from an Investment?
AN this is preliminary to an Illus
tration Of something that is rather
startling. We have been urging the
necessity of every royalty buyer learn
ing how to figure royalty values. An
eastern royalty dealer purchased one
unit OF royalty (1-S Of g on 400 ac-
res OF wheat we regard as some OF the
best oil land In the State Of Montana.
As snch, IL was a wonderful buy.
But when he made application for
deed, we found that he had sold IL
20 some of his clients. dividing IL
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

rick and is rigging up on Ewing
No. / in center MEX MEX s.
S4-sW, near the Tarrant-Reieh-
off producer.
Mountains Power Gas Co. has
three wells drilling to develop
more gas to care for growing
demands Of the Butte Helena
line. It's Brown No. /, C NEH
S1-s5-5W is drilling at 1900
and its Noe No. in CNL NEA
2s-35-5W, is drilling at IT'S
and its Kleinschmith-KindIe. sW
swA sWA 11-s5-5W. is spud-
ding in. George Nadeau has the
Kindle contract.
Dakota-NE0ntana aEatsOn No. i,
Sc SEA NWN 14-s5-sW. off
setting its Haglund 75-barrel
well. is drilling at 1900
Hannah-Porter eompany has
located it's No. 2 Britton in NV
swA SEA 14-s4-sw.
b-walIburger No. 1, IN
sW Corner s5-s5-sw is drilling
at 275. efforts are being made
to have the location moved back
to the center OF the 40 since it
will force three offsets, two by
Texaco and one By Montana
Power.
Tarrant-Day- Hagland. 81. No.
1 has rig up IN C NEA NEH
14-s4-sw. derrick having been
skidded from the Mannix-B Brit
ton No. /. J. c. Day and others
are associated in this operation.
Tarrant-AEOnt. HeadIight-Brit-
ton No. 1 has rig up, in sW
NwA SWA 14-s4-6w, offset
ting the Matson No. 2.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
SECOND WELL is
NOW DRILLING ON
NORTH CUT BANK

A second well on North Cut
Bank structure. recently proven
for oil, is today drilling on the
Kruger farm in Center sWA
swA 14-S7-5w, quarter Of a
mile north df the discovery
well on the Lee jacobson farm.
The discovery well is making
so barrels per day on the pump.
1t is understood that the o'Neil-
Sweeney interests will immed-
lately drill wells to justify the
construction of a pipeline to
transport the crude from the new
field to Coutts or Sunburst.
Morris Weiss Of Calgary is re-
ported core drilling on the
Canadian side. preparing to drill
well north Of the new field.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22


to spray oil. when allowed 10
flow open.
Preparations are being made
to give II q light shot, to break
MP the hard formation.
Location is in Section 2-zN-
2oW4, eight miles north OF the
Alberta-AEontana boundary. The
structure was first mapped BY
Nordon biologists and q well was
drilled in 1891 which found
some oil but It was drilled into
water and now makes about
five barrels day when flowed
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
A CALL FOR VOLUNTEERS

Under the new National Industrial Recovery Act Trade
Association Agreements have the force Of the law behind
and binding upon the minorties 1t is anticipated
that Trade Associations will thrive whereas they formerly
lodged the antitrust laws and instead of giving the
Citations the third degree the government will give them
partnership However the antitrust movement IN the State
of Washington protesting the successive increases in the
price of gasoline portends rough shedding for the oil in
dustry's organized program.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22


By the gas head. GeoDhysieaI
methods we're employed to I8eate
the high" and the second well
located. It was not as much
higher on structure than the No.
/ as geophysical instruments in
dicated. but high enough to give
production. This work was done
by Arthur I. Davis. s. NJ. zand-
mer and Frank n Henry. pc
troleum engineers Of Los an
geIes. and Is the first successful
geophysical work done in the
Northern Rocky Mountain region.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

price in Kevin7sunburst. This
means a bonus of 10 cents for
the states Pondera field pro-
duction.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22

SEND A CONTRIBUTION To
THE sUNBU RsT BADGER
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1933-07-22
BUYS ROYALTY OIL

Conrad Refining company has
again purchased the states roy
atty oil, paying the posted
The Washington times., 1933-10-21
POTOMAC PARK
21st and G SITS. N. w.

Overlooking Lincoln Memorial
and New Bridge
A downtown building that
combines quiet and convenience
with its picturesque setting. "a.
hour elevator and switchboard
service. Electric refrigeration.
Also furnished apartments.
l room and bath. .S35.0O
2 rooms, kitchen and bath. $3.50
8 rooms, kitchen and 3
baths .$175.O0
Resident Manager, MA. 91O2
The Washington times., 1933-10-21
26O1 CALVERT STREET

This attractive Colonial build
ing, in one of the most desir.
able residence spots in Wash.
ington, overlooking Rock Creek
Valley, provi ides thoroughly
mod ern housekeeping apart"
ments.
l room. kit. and bath. .$42.5
. rooms. kit. and bath. $4,000
The Washington times., 1933-10-21
THE COWARD
1928 Eye St. N. w.

Modern History Downtown
Apartment Overlooking
Beautiful Franklin Park
A most convenient location,
within a few steps Of stores,
shops, theaters and Government
departments. Automatic refrig.
Grafton. 24.hour elevator and
switchboard service.
I room. Kitchen and bath. S32 so
2 rooms. kitchen and bath, $50. 90
Resident Manager. MA. 9O7O
The Washington times., 1933-10-21
SEDCWICK GARDENS

Connecticut Avenue at Sedgwick
Street
ON fashionable Connecticut
avenue, near Rock Creek and
Is minutes from downtown, is
one Of Washington's outstand-
ing apartment homes out.
standing in its modern beauty,
unusual facilities for living, rec.
reation and entertaining E.
its solid comfort.
] room. kit, dinette, bath $45. 90
2 rooms, kit. bath and
porch ..................$6 .$65. 90
The Washington times., 1933-10-21
CHANCELLOR

214 Massachusetts, Ave. N. f.
These convenient apartments
are completely modern with
electric refrigeration. 24-hour
switchboard and elevator serv.
ice.
! room and bath. ..... .S27 so
] room, kit. and bath. -. $4,000
2 rooms. kit. and bath. J.. .$45. 90
The Washington times., 1933-10-21
Save Time and Worry!
These Weaver MANAGED
Buildings Make
Apartment Hunting Easy
24OO SIXTEENTH STREET

where you have all a smart
town house can offer ex"
cept investment and mainten.
ance. An apartment here is
truly a home, not just a place
to live. but a mode Of living
that has established "2400" as
the residence of the most dis.
eliminating.
] room and bath. .........S4O.OO
2 rooms and bath. ..... .$8O.OO
3 rooms and bath .......S125.OO
5 rooms. kitchen. bath and
porch $3.50. 90
The Washington times., 1933-10-21
1887 NEW HAMPSHIRE

D In the pleasant. quiet neigh.
borhood just north of Dupont
Circle, this thoroughly modern
apartment provides quiet. con-
Venient homes.
room and bath. .$35. 90
The Washington times., 1933-10-21
Automobiles
OLDSMOBILE

OLDSMOBILE 1880 Sedan. finish like new,
upholstery and motor excellent. 5 new
tires: your car in trade. Worth $685., our
price, $3.50. Mandell Chevrolet, 18th and
Good Hope Rd. :. F. AT. 44O0.
OLDSMoBILE Cabriolet 1931-A fine car.
in excellent condition; Sl10 down, bal"
ance easy terms.
TINE-NICHOLSON MOTOR co.
Hyattsville Md. Greenwood 600
The Washington times., 1933-10-21
ALTO TOWERS
Wisconsin Ave. at WOOdIey Rd

Wisconsin Ave. at WO0dIey Rd.
Apartments in this new build.
ing, on the highest spot in
Washington, are the last WORD,
with parquetry floors, radio
outlets. Kelvinator refrigeration,
elevator service.
/ room. kit. dinette and
bath .......... $4,000
2 rooms, kit. bath,
dinette and porch. $4,000
3 rooms, kit, bath,
dinette and porch. ... .$69.5O
The Washington times., 1933-10-21
BUICK
CADILLAC

Cadillac 7-PasS Sedan, Model 01EA
"03'-Splendid condition; air O1OV
springs fine for sightseeing; must be
sold: see 1t.
5O4 Cameron ST., Alex. Va. Alex. 1O6
CHEVROLET '32 Sedan: used very little.
Must sell $325 North 4764-J. ewes.
The Washington times., 1933-10-21
For Sale Miscellaneous
1O2 Furniture & Household Goods

1O2 Furniture & Household Goods
OBSERVATION-DISCLOSURES Simmons bed, includ-
ing link spring mattress; used very
slightly: $40. Any afternoon. 1889 Both
st. N. w
CHEST OF DRAWERS, SO; large dresser,
mahogany. $40: Al condi. odd chairs.
soc to $3.50; Knabe piano, $25. radio.
$50: gate leg table. So; tables and lamps
from 81 to $3.50; Victor Victrola. So.
638 E St. s. W.
7TUBE ATWATER KENT RADIO. S15-
Victor Console Sc. lamps table. bridge
Junior vanities. reas. Walnut vanity 81:
lee box. metal: child's table. chairs. doll
and carriage: records SOC . dozen: dust
mops. new: curtains: shades No dealers.
Cali after g. Mrs. Dora BelE 1722 willard
S. N. W.
The Washington times., 1933-10-21
Automobiles
AUBURN


AUBURN. 1881, 4-Door Sedan. Recondi-
:. TONED throughout: paint. tires A.No. l.
baance S23 monthly. Warrington Motor
Car Co. 2O35 18th 81 N w.
AUBURN 1888 Convertible Coupe. Salon
Series. Used by company official: driven
2 900 miles new-ca. warranty. A real
saving. See Mr., Fox. Warrington Motor
Car Co.. 2035 18th St. N. W.
~S~sSN~NN~~~~~~~y~~ y~~~~N~N~~s~~~~NNN
BUICK
BUICK Sedan, 1929 std. "6." One of the
sweetest running cars you ever drove;
clean inside and out: traded on new Buick
from original owner: nearly new tires.
The exceptional price of $24O. $S3 down.
" wiNDRIDGE & HANDY. INC.
Rosslyn, Va Dust Across Key Bridget
Open Evenings. WEST 1887
BUICK 1881 s Sport Coupe. This car is
reconditioned and priced at 1895 for a
quick sale. Barry-Pate. 1850 Park Rd.
Adams 10202.
The Washington times., 1933-10-21
THE HARTFORD

1915 Clifton st. N. w.
Spacious airy apartment. Re-
frigeration on house current.
rooms. kit. and bath. $1,000
4 rooms. kit. and bath. $3.50
The Washington times., 1933-10-21
1872 RANDOLPH ST,

Two rooms, kitchen and bath.
$45, including electric refriger-
alton.
The Washington times., 1933-10-21
14l2 18TH ST. N. W.

D Bachelor apa r m e n t. two
rooms and bath, $3.50.
The Washington times., 1933-10-21
Automobiles
DE SOTO

DE SOTO Custom Sedan. 1898: black;
driven less than weeks by factory rep
resentatives, At substantial discount. Call
COL 6617-J.
The Washington times., 1933-10-21
2s12 CONN. AVE.

. Four rooms. kitchen, bath
and porch, $72.5O.
Electric refrigeration.
The Washington times., 1933-10-21
PLYMOUTH

PLYMOUTH. 1892 r. adster. Free-wheel.
ing. motor rebuilt new top and tires.
$50 down. balance $50 per month War
rlngton Motor Car Co. 2035 18th st. NV.
PLYMOUTH 1881 Sedan. S225. Call MP.
Cooksey. Dist. 4310.
The Washington times., 1933-10-21

THE PRINCESS
1915 Eye St. n. w.
o Here are modern. convenient
homes for busy people right
downtown.
! room and bath. .$25. 90
The Washington times., 1933-10-21
DODGE
ESSEX

DODGE Sedan; good running cond.: S26.
Call after pm. 1749 Kibourne Pl.
The Washington times., 1933-10-21
PONTIAC

~~~Ns~~~~s~~~~N~N~~
PONTIAC Sedan. 1892. black duco finish:
free wheeling. drive control; used so
little Just nicely broken in. $495, S165
wINDRIDGE & HANDY, INC.
Rosslyn, Va. Dust Across Key Bridget
Open Evenings. West 1887
PONTIAC 1881 Sedan. The Jet black fin.
ish with cream stripe looks like the day
1t left the factory. You'll thrill at itS
powerful motor; it has practically new
tires. and the interior is protected by .
set of striking new slip covers, $3.50. Ask
to see Car No 267
DoNOHoE CHEVROLET. INC.
1920 NJ St. n. W. Dist. $500
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1933-11-07
.fsPoRTs \
VISIT To TEXAS TO SEE
GARNER CAUSES MUCH SPECULATION

of the NRA drive, however, emery
ing only to make one statement
about repeal, rurnors multiplied
that he and the. White House were
at outs.
And this in spite Of the fact
that the president and vice-presi-
dent had lunched together on the
day of the latter's departure in
/, apparent complete friendliness.
Mr.. Gamers friends in Wash
ington have not believed any of
the stories of a "break" between
him and the chief executive. They
have resented activity in other
quarters relating to the patronage
matter.
Mr.. Farley is the titular head, of
the party organization, the titulaf
dispenser of patronage. The trip
to Texas, so far as anyone knows,
was his own idea. Presumably,
as party peacemaker, he would like
to see all the rumors of friction
dissolved.
Whether Mr.. Garner viii oblige
to the full extent of going out pub
licly now to speak for the Roose-
welt policies remains to be seen.
Many who know him think he may
do so, many others believe he will
stick to his policy of silence.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1933-11-07
ARMY WINS FROM
LIGHTHOUSE BOYS
IN DIAMONDBALL
CONTEST STAGED LAST
NIGHT AT BAYVIEW PARK
RESULTS IN SCORE OF 23-3;
SOLDIERS EASY WINNERS
(By o. L. MILIAN)

The Army ten defeated the team
representing the Lighthouse De-
partment last night in a one-sided
contest that ended with the score
reading: Army, %; Lighthouse, 3.
Speed Ball' Richards, who
hurled for the Khaki boys, proved
too good for the Lighthouse Ten
ders. Two safe blows from the
bats of John Roberts and Demer-
tit were the best the lightkeepers
could get from the Oklahoma boy.
Everett Albury, who started on
the mound for the Lighthouse
squad, was hit hard and gave way
to T. Roberts, who failed to check
the pumping Soldiers, who ham
mered two pitchers for a total of
% hits and as many runs.
The best catch of the night was
made by Lionel Plummer who
made a fancy one-hand catch of
Dion's terrific line drive to right
field.
The Army has fine pitcher in
the person of Richards, who many
fans predict could possibly whip
the Lopez champs if given a chance
with good team behind him.
Peter Castro, manager of the
Picked team that is now playing a
seven-game series with the Lopez
Funeral Home, said last night that
he may give the Soldier lads an
opportunity to match wits against
a Class A club.
The score by innings:
r. III. E.
Army -. 03O 4122 2-23 % 8
Lighthouse
o30 600 0-S 2 8
! Batteries: Richards and No
dine; Albury, Roberts and Demer-
tit.