Newspaper Page Text
TULSA DAILY WORLD, FRIDAY, FEBRUARY 17, 1922
IN THE OIL FIELDS
W. H. PECK
on Market (iiKiimiont. 1 rnt"'B would lio nffiiet liy lower tnxi'A
ki iinraun. r. i. nil n irrrnlrr nKKrr-im iipI rovmuo. '
Km A Dkla.. I
llealdtnn ... . 1 00
eieni ...... 1 10
Walter 1 I"
Hiectra . ... : n
Henrietta ... i 'i
flurknurn-'t .. I..'-
Cteven ''o .. . . SIA
rrtrh'4'in Mniii 1 li
t'orelrann, h'ty . i'
I'l.rca .1 uuc. . . (0
liur Ukt .... ill
rdda it in 14
ftlk liealn ...
.line Creek ..
Illr Mu.Wr ...
Mule i'Mie ...
'I Creek. H-nt. I 10
V. I CIA11IC.
Tqx Couneel, V. O. I.Iroii Co,
C. V. A,
. (,' ;; iff, ii'
Taxctt and Mote Taxcti!
In Momlny'rt cllllnn nt Tlm H'orM
an fxntiipln of tuxon imlil ni liiromn
Inxen, Itolh ntnti! and fcilernl, wim
Klvrn; Init It did not cover Urn
irrotiml nn tlifro nro a trorM il
tnxeu I. Ill In nilitlllnii to thoee mon
tloncil In Tiicmlny'ii iinpor.
Tlio nliovo mentioned nrllrtn,
wlilrli ly gumuel J. fnuillll,
fthoultt Imvo been prcnorvoil In the
Hornp hook, niul now rumen u veiy
lllinnlimtliif; nrtlclo written by W. I
Clark tux counspl for V, O, Uroii
ft Co., rrrllflrnl nrcotmtniit, with of
llrpR In tbfl Cnwlen biillilliiK.
"In flxlm? taxen to provide rnvn.
mien for (ilillKntlonit of Kovurntnont
lint now ncttmlly exlntent, ronisri'M
I Mould lools well to tlio financial nml
oeonoinlo comllllon of thn country,
and boforo tfixlnn ccrtnln rlnwrs ot
Industry with npeelflo levies, It
nhotlld cnimlilar tho iirrmure) cit
Iirencnt tnx burdens upon micli In
",t present tlm nil Indimtry li
olillnntid to tin) federal Kovermnenl
for Incotiio taxrn, nxrcM profit
taxer, mirlnxcs, rnpltnl stock taxes,
dncmnvntary stnmp taxrn on cnpl--tnl
lusiies and transfers, taxes upon
nutomohllo nml niitonmlille nrces
sory purchases, nnd laxcn on tele
phone, telegraph and eabto farllltles.
"A concrute example Is that of
an oil rnmpnny nperntlnir within tlm
Ktutn of Oklahoma whmo net ln
como before deductlni; taxe, was
(Jrops production taxes,
oil nnd c M8,:39.42
Advnlorom taxes on per- ,
sonnl nnd real property C,71B.sr.
Auto and tractor taxes 227.94
Documentary taxes, fod-
Btnto llccnsn taxen on
cnpltal stock 7 IS. 00
Capital stock taxes, fed
Inromn anil excess profits
taxes, federal 83.430.30
Total Taxes assessed J140, 461.20
"In addition to the above, In com
puting tho net lncomo mentioned,
other taxes havo been paid and do.
ducted, such ns tax on telephone
nnd telenraph, service, on tho pur-
c,li!s of nutotnnbllos nnd neccs
sor!es, which taxes am unidentified
Jn tho irencrnl expense ncconnls.
.Should this corporation tindorlnke
to do liunlness outside the state, of
Oklnhonui, It would bo subject to
other forms of tax In other stnleii
"It Is to bo noted that tho total
taxes, ns Identified nbovo, amount
to more than 40 per cent of tho
net incerric v.'lthcui tlio i" deduc
tions. Tho taxes Mono amount to
jnoro than 05 per cent of tho net
profit icinnlnliiKi nnd of thu totnl
lax assessed tho federal ifovcrnmcnt
IsvIch morn than Co per cent, tho ro
mnlnlni; 40 per cent belnir spread
out over slnto, county, school nnd
municipal taxes. Improvement taxes
not belnif Included. This Is not nn
exceptional rase, Thcro nro many
that nro taxed still heavier. This
company sold no oil properties. It
could not lrnVo nffordwl to do so
iwltli tho cxlstlnK tax luuden.
"Conitrrss Is now conslderlnu tho
.much discussed tax on irnKollne, nnd
Another onerous tax penalty un In-
, dustrlal activity, which Is not so
much spoken of tho tax on un
distributed corporate not lncomo.
This fonii of tnxatlon Is nt oneo nn
additional tax on Income nnd a tnx
on capital. Us effect would bo to
force, the distribution ot rnrpornle
surplus which Is so frequently
needed In business for Its develop
ment, extension ami ovon protection.
Bpill to Tin World,
WAHIilNUTi Kotl. in. TIIO
rost of ill llllnc opemtlons III remote
and Isolated fields, nurh its nro ln
mlPil In various l.atln-Amerlciin
rouiilrles, may easily amount to 10
times the cost of similar operations
In fnvnrHiily situated producing nil
fields In tlm 1'nltcil Mints, iturliti il
.. W. lAinorose, rllloi petioli'iim
terhnoloKlst of the burenu of mines,
befoto n itiithnt'lm: of I'aii-Amerlcan
dlplumnts In WusliliiKtoti,
It is proiiaiilu (lint tlio r rst well
drilled by one of tho prominent pro-
ducliiK companies In Colombia cost
not loss tlinii tnoo.oon, said Mr, Am
luoso, while tho nvoriRo well drilled
to tho ratlin depth In it proven field
In the Mld-Comlneiit illstrb t or tlio
United flutes would not cost J6i.000.
I Mr factor or oxcesslvo cost of
production should bo Ink on Into ne
count In tho consideration of poli
cies designed to oncournK" the de
velopment of nn oil Indiiury In ro
Rlons or countries where tho petro
leum resources li.tvn not yet been
exploited, .Mr. Ambrosn further le-
i la i c.I. Tlio United lilntes iinvin-
inent has lecoKiilzed this fact In try
I mi to encouniKo duvelopment of
tho rcmotn oil pofslhllltlcn of Alnn
ka. For oxamplc, tho royahles ore
flxeil and much higher on oil pro
duced on tlio public lauds In tho oil
field In tho United Htates. whero
there nro kooiI railroad facilities, nnd
a network of Pipelines which kIvoh
a lendy outlet to tho refluetlcs, thnn
In Alaska, whoru railroads me scarce
nml no pipelines or refineries. For
tun tirst nva years tlio Rovcriimeiu
does not chnriio any royally unions,
the walls on each tlact aveinKe 100
barrel per day per well or more.
Should tho itverngo production be
Krivitor tlitiu this tho rtovcriimout
miilutalns u royalty of only r, per
cent, IHirlnir the sci ond five yenis
of operation tho covurnmcnt charKes
a royalty of 5 per cent on nit thu oil
prniitit'cd nnu uuritiK inu sucuerinui;
10 veins rluirKcn n royally of 10 per
cent which Is tho maximum that an
operator over litis to pay. Other len
ient fentuirs Imvo been provided to
encourage oil development, for In
stance, during the first tlvo yenrs
no rental In chanted. It is tntereatlUK,
but ulscoucoriinc. to nolo t nut in
spltn of these atlrnctlvu features
very Utile, if tiny, drilling will rosuit
Ir. Alaska durliiK 1922,
.Mucli likely oil Inntl In thn l,-itln-iVmerlcnn
countries Is ut present
almost lnaccerslblo Insofar as the
tinnspoitatloii'of tho needed tons or
drilling nnd camp eiiilpmeut and
mlii r supplies Is concerueu, K.tlil Mr.
Amlirose. Tlio cxpenso ot iiunninu
roads to ovctcoinu this difficulty Is
a consldernblo factor. In tho IiIkIi
coat of oil production In tlio tropics.
Thu establishment ot tlin absolutely
essential nnftltutlon Is generally an
other expensive piopnslllon. Tmi
establUhmont nt fully eipilyped
machine shops nnd forties Is neces
sary In nn iidvonture of this kind.
IIIrIi salaries must usually bo paid
lo workers us compensation for un
favnrablo IIvIiik conditions In such
localities. Tlio matter of pipeline
transportation to ports la also a very
serious cost faotor. In Kcnoral, .Mr,
Ambrose declnrod, tlita tho success
of nn entorprlim In remoto and un
explored tcirltory will depond prima
rily upon thu strength of tho orsnnl
ratlon nttrmtititiK tho dovolopmentH,
and tho skill and knowlcdgu or Ita
responclbla members. Tpr thnt rea
son only the strongest companies aro
In n ptwdtlon to Interest themselves
In exploltlnK itreai particularly re
moto. This Is readily appreciated
when It Is considered that In this
typo of work the- area In far removed
from the mniiufnctuilnt; centers nnd
consequently from tho contcrj of
oil well supply manufacturers, also
In care oil la found It must bo trans
polled mid minketed, nil of which
reiiulies much capital.
Npw Opcrcttinu Firm
that advaiilnKn may be taken ot
both tho present and future produc
tion. Its mnnaKement Includes
praribal o'l mt'n who havo imm
Wned with nguresslvo eastern mar
Janus It. Armstrong, former!)
vim tireslilent of tho Middle Htatei
OH corporation, Is president of the
new company, and its directors in
eludo HlroiiK blinking Interests. In
view of tlio fact that the hnlilltiKI
of the company havo been ns
semblril nt a tlmo when It whs ps
slblo lo put morn value back of the
shares for tho amount Invested thnt
nt any tlmo In recent years an I
that lis management Includes promi
nent oil men nnd banking Interests.
It Is believed Unit ColumHa retro
lentil will rank high among tlio Mid.
Continent oil ompnn'cs and become
nn impotlnnt factor In tho oil Indus
try In that section.
lis shares havo already received
a favorable welcome and with the
further development of Its InrKe
holdings tho shnrrs lira expected lo
enjoy nn Increnslng active market
and advance in value. New Yotk
Comar Oil Company Gclllnu
Well in the Deep Van
Tho Comar Oil compan's NV G
Ben farm, In tho northeast of the
northenst of the noithwest of 15-24-Iw,
Ih making 100 barrels of oil and
about 12 million ruble feet of gas
which Is being hntulled by tho use of
back-prcBstiro valves, ond the own
ers are going the limit to conserve
the gns In this well.
Tlio chances tire If 'here were no
checks on tho gns, thnt tho well
would produce a lot of oil, us No. 1
Is still mnklng 1.70(1 barrels, and
this Is a recoul In thnt country.
. '. Wilcox ttrlnglng In
Two (load Producers
If. l' Wilcox personally linn n well
flowing 40 barrels per hour In Ills
No. 1 Schroder Hnrjo allotment In
thn northenst corner of tho north
enut of the southwest of 35-1 0-,
llrlstow district. Top of the Dtitch
or sand was found nt 3.0S7 feet and
Is now 12 feet In,
Mr. Wilcox's No. 1 Tlgcr In 12-10-
9 Is drilling In the top of the oil
pay found nt 2,810 feet and Is spray
intr nbotlt 76 Imrrels per day. This
well will be drilled In today,
Ljton.f and Indiahoma Gel
Brrt! lo Tlm WorSI.
OK .MIT. (I UK. Keb. lfi, Tlio
Lyons rutroletim company and In
dlnhomn lteflnlng company drilled
In their No. (1 ltobeit Ilnrnelt
in the northeast of tho southwest
of 2A-11-12 l.yr.nz pool, and have
a 1,200-barrel well nt flvo feet In
snml found at 2.S7S feet.
Thesn two companies now have
fi.000 barrels dally production from
10 wells In tho Lyons pool. The
Harnett well Is it mile and n half
south of the 2,000-barrcl well tho
Mlnnehnnia Oil company brought In
in too Lyons pom on vvcdnesiiny.
Oil in Chile
Bprll tti Thn World.
WANllI.NUTON. Foil. 16. Vice
Consul 11. C. Matthew" nt Anto
fagavta has reported to tho depart
ment ot commerce that tno most
promising petroleum field so far
discovered In the tirovtnco of Anto-
fit I it , Chile, Is thnt In tho pasn or
NiKlin. nenr tno Argcniinn irnniier
but It lomnlns to bo seen Ir the iie-
yesterday on tho Itnynesvlfla. I-n ,
lease, No. 4 for tho (J. W. Taylor
farm, In tho west half of the sou'h
west ot 14-23-8.
Shaffer Funeral Mldnlfjht
Friday; llurial Saturday
The funeral or K. Wilbur Hhaffrr,
who died suddenly Wednesday, will
be hsld at the I'resbyti-i l.tn chnrcli
at midnight Krldny, with the Kn.ghts
Templars In charge. Thn service thus
conducted are Very ImprosUve and
would have been exactly as Mr.
Hhaffer would hnvo wished for, ns
i i .i... . ...i....
iim wiin it lliriiiiri-r tile mini jjiiku
at Toledo. Ohio, and of the Okla
homa Conststury No, 1 nt (lutlule,
The Interment will take placo at
Horn lllll, riatiirday afteinuon nt 2
n't kick, nnd them will 1n a great
outpouring ot the friends of tho
family, so greatly wns .Mr. Hhaffer
K. Wilbur Shaffer wtis born near
Oil t'Jly, ronnsylvniila, In 1S03 nnd
Hurled In tho oil business In the Mc
Donald field, and following the oil
country through Ohio, Indiana and
'nuniln, rninu to Tulsa about 10
lie was a member of tho firm of
Shaffer brothers, ond also wns con
nected with the Shaffer Specially
lie Is nurvlvrd by Ms wife, three,
nnn and three dnughters as follows.
(ieiTge W., Karnest .1., both of Tulsa,
And M. liny of Ilartlesvlllo, Mrs.
Alice Oclaney and .Miss Doris Shaffer
of Tulsa, and Mrs. Tomer of HI
dorado, Kansas. Also by four broth
ers, J. IJ. Slmrrer of Tulsa, W. K.,
.Trunk 14. nnd .1. N. Shaffer of I'ort
Worth, Texas, and two Muter. Mrs.
. Stover or Chatham, Ontario,
and Mrs, D. II. Noycs or Toledo,
Tho sympnthy of tho oil men and
tlm community at largo Is with tho
bereaved family In Its sad loss. It
Is said that tho death has caused thn
greatest sorrow, and tho most awful
nhock to tho community, on account
of his sudden Inking off, He ws
conversing with friends nnd was at
tacked suddenly with heart trouble
brought on by acute indigestion, and
passed nwny Instantly.
II'. H. Fine Vcil Holding
The W. n. Pine well In tho center
of tho north line or tho southeast or
thn southeast or 33-12-12, Tiger
Flats district, which came In Mon
day, Is rtlll holding up at 300 bar
rels per day.
Dry In the Wilcox Sand
Tho Coxey & Webber lest In tho'
northeast or the southeast or 10-22-14.
Coltlnsvllle district. Is dry In the
Wilcox snml, nt approximately 1,S00
''The benefit of certnln relief
L. V. Crater nnd M. CV ltro mill,
both thoroughly familiar with the
oil gameand both having been with
II. 1-'. Wilcox nnd company nlucn tho
beginning of his vorv successful ca
reer, have, organized a new produc-
..... ... . , , log aim ui-ci huhk njuuii-iitu. wtm i" .;,io i-tuui. jiuj.
measures, heretoforo existing umlci nirntn O. Wilson, wealthy oil man of ! completed yesterday
tho rovennn net ot 1918. has i been . Kcllyvllle. nml John O. Idling- I
trnteuiii will be found
tiaiitltfes. A company has been
organized for tho exploitation of
thin field under the nnmo of l'clrolee
do Antofngnsta, nnd most of "the
shnres havo'nlrendy been sold.
Two More Completions
Tho Humphreys I'uro Oil com
pany's No. 1 Joo Hosh, Mcxia. field,
which enmo In at 7,000 barrols.
flowod eight hours and then bridged,
The? nro now shut ilown to stand
n rill 7.0 and complete,
Tho Lewis Oil company's No. 3
lllnes, made 1.G50 linrrels the first
six hours from the 3,035 to 3,U5C
Tho Western States Oil & Land
conipnny'n No. 3 Stowort farm In tho
northeast corner of tho southeast of
22-27n-3w, Is mnklng ISO tnrrels
from and topped nt 2,970 feel, vrlth
300 feet 0f cuvlngs In tho, hole.
Tho Wntchorn Oil K- Ons com
pany's test on the D. Miller farm In
4-22-3, ltnlston, Is drilling deeper
at 2.52B root.
Tho samn Interests nro drilling nt
1,715 feet on tho U. L. Miller farm
No. 3, In 33-23-3.
ln oil Issues. It Is selling within a
fraction of years low, There Is un
dor consideration a plan of refinan
cing which may Involvo calling In
present i 1-2 per cent nni. uui
It I said payment by Stnndnrd OH
of Indiana for hftlf Interest In Sin
clair's pipeline will enable the com
pany to cut down Its inueiitooness
many millions of dollars. Tending
flnnnrlal reorganization, little Is ex
ported In tho way of n bull move
ment In tlio slock. There will bo
substituted a long time Issue If the
"1-2 per ent notes nro caiieu.
NKW vnitK Cities Horvlco de
clared regular monthly dlvldonds of
1-2 of 1 tier cent common proiorrcd
Hid preference II stocks payable in
scrip nnd also dividend or 1 1-4 on
common stock tmvnblo In common
stork scrip, All dividends payable
Anrll 1 sloek record of March lfi!
dlMrlhulion of llnnkers shnres to bo
made Apr 1 to holders or record
March 1. will consist 5 cents race
value CMles Service common stock
cash scrip nnd 12 1-2 cents rnco
valuo Cities Servlco company stock
scrip on each linner s snare,
NHW YO UK Announcement ex
Heeled loilnv of tnericer of White Oil
corporation ond United Gas &Klcc-
NKODK8IIA. Knn Feb. IB.
Standard OH or Knnas declared
regular nutirtcrly 1.1 dividend Pay
able Mitrch ID, stock record Fcbru.
nry 2N. Kxlrn dividend of 13 winci
has bern pnld quarterly for last
several ytars wan omitted.
In the ItomVrsun l"nol.
The Magnolia corporation's No
flann In iha southeast corner of tho
northeast or tho southeast or 9-ln
3w, came In at 30 bnrrels per day
nml Iiom soiled down to about 8 onr.
Jones and associates have a 12,
MOO, 000-root gasscr In tho 1,335-foot
tnno in no, z .-ewucrry inrm in me
southwest of tho northeast of the
southwest of 14-ln-3w.
Tho Mngnolln Petroleum enrpor
ntlon's No. 2 Jones In the northwest
of tho southeast of 14-ln-3w Is nn
Tho Wrlghtsmnn Oil corporation
un n lD.OOO.OOO-foot gasscr In No
1 Shirley In tlio northeast corner
or tho northwest or tho southwest
at 14-ln-3w, nnnd encountered from
1.292 to 1.30r. feet.
Snmo Interest nt No. 2 Mays In the
Eotithcnst or the northeast or the
northeast or the southwest or 14
ln-3w Is n 25-bnrrel well.
Davis & YoungCr's No. 1 New
berry In the northeast corner or the
southeast or tho northenst or 14
In-3w Is tnnkluir 2B. 000.000 feet o
gas In tho 1,342 to, l,3nri-foof rnv
i-Hthvlmer'H No. 5 on the Frens
ley farm In tho northenst corner of
34-lw-nw. Is reported n 10-bnrrel
well in tho G60-foot pay.
In tho lleultt IMold.
The Miignnlln Petroleum cornorn
ttnn has a 7. 000. 000-foot gnsser in
No. 18 Woodruff In the southwes
corner of the noutheast of tho south
west of 15-4s-2w.
Tho Skelly Oil compnny's No. !
Dlllard in tho southwcM of the
northenst or 22-4s-2w Is complet
Ing n C0-borrel well,
The Carter Oil company has a 60
harrel well In No. 4 Hamilton Jn the
southeast ot tho southwest of 33
Tho Pure Oil company's Sullivan
rami test in tho center or tho north
east or tho northeast or the south
west or 30-4s-2w, Is a 30-barrel well
after a shot In tho 2.405-foot sand
Tho Texas company's No. 7 Denny
In tho northeast corner of the south
west or tho northenst or 3G-4s2w Is
swabbing 100 barrels.
nt 2.GS5 feet In No, 1 Milton In the
orthwest corner or aa-as-ow, umuy
. . . .' ..
The lllnckwcll Oil & Ons Co. has
Mu.ier m 2.580 feet In No. 1 Spoon who has been operating In the Texas
fnrm In tho northenst corner 01 1110
southwest of the southwest of 9-
Tho National Hxploratton corpor
ation l.i drilling nt 3,470 feet on Its
deep test on tho Lllllo Hock tract In
Tho flypsy Oil company Is drill
ing at 1.600 root on the E. Whlto
Mulo tract In 24-21-le,
Carter Drings In Two
The Carter Oil company's No-
woll on the Harnett lense. In the
west hair or the northeast or 25-11-11.
Lyons pool. Is making f. Or. bnr
rels iietunl guago In the 2,042 to
2, 075-foot sand.
Tho Carter's No. 5 samn lease. Ii
producing 307 bnrrels In tho 2,412
to 2,431-foot pay. lloth wells wcro
Southeast of Duncan.
Tho McWood Oil comonnv's No,
Dawson tract In tho northwest o
tho southwest of 25-2s-Gw. has lost
thn holo nt 1.G51 feet and has
skidded the rig to No. 3 well. Tho
Denver Oil company has a dry hoi
preatlv curtailed by tho Act of 1021
,md some or the now provisions or
tho latest act do not "relievo" In
all cuses, Tho right or depleting
upon "discovery values" of oil and
gns properties Is now limited to de
pletion credits not In excess of the
not vevenucs from the particular
property discovered, thereby reduc
ing the benefit arising from thn
"discovery" frnturo of tho law nnd
necessitating much more detailed
accounting to determine the operat
ing expense Incident to each prop
ertv claimed n n "discovery,"
The 1214" limitation of lax on
the rnln of cnpltal nssets, under tho
nnw Inu- ,1ni lint mil' to eoi'iiorn.
thins of course anil does not benefit 7'n) 1,000 Ilarrt'lers at
intUVIillinis t Willi personal i-seinp-
tlon of 12.000) whoso net incomes
hntisen. prominent attorney of 8n-
pulpn, which will operate as tho
Illram C. Wilson Oil company.
Tho success ot this concern Is ns
nured from the shirt, as It Is under,
stood they nro going to play tho law
ot averages, and that too, liisldn of
thn well known producing areas In
tho Osage, and In Creek, Okmulgee,
Okfusgve, Hughes and Lincoln coun
ties. Mr. lire Dahl Is In tho cast, while
Mr. Crater Is holding forth nt tho
company's new offices In the Petro
Phillips Interests Complete
In dishing Pool
tneliullni; thnt from
ire less than $32,570. nor dnes tho
limltntlnti npply to tho prorit from
the rale of nn oil property (or other
property) held for Investment tor n
period less than two yenrs. The
provision thnt the tnx on profits
from thn sale of oil or gas wells
"discovered" by tho taxpayer, shall
not exceed 10 of the selling price,
after January 1. 1922. doe? not n.
wnys nfford relief In cases where the
eortfblerittlnn may be 11 largo sum.
even though the profit Is not great.
Vhus It appears thnt the oil Industry
ha" not received such liberal treat
ment nt tho hnnds of congress ns it
Is sometimes thought.
' "On the whole. It Is very probable
that the oil Industry would become
so much moro nrtlvo under n rediio
tlon of tnxes, ns to produce nn In
crenso In nggiegnlo net revenues of
such volume that tho loss of roventir
,lo the government by 11 reduction of
Wnlto Phillips nnd tho PJillllps
Petroleum corporation No, 3 Mcin
tosh, located In tho southwest corner
of tho southeast of tho northwest of
27-10-9. llrlstow, got the top of tho
snml Wednesday, nt 2.870 feet nnd
at 2,899 lect Is flowing at tho into
of 45 barrels per hour.
Tho Phillips Interests No. 4 on thh
lease and located In the southeast
of tho northwest ot 27-10-9 Is flow
ing 40 barrels per hour from thu lop
or the 2,892-foot sand. No. 2 well,
In thu southeast corner of tho south
west of the northwest of 27, Is drlt
ling near the top of the sand and
will bo completed tho but ot tho
Tho CoKden Oil & Ons Co.'s Yount
No. 4 Is 13 foet In the sand nnd mak
ing 100 barrels. Tho well Is still
drilling 4n good snml. Top of the
sand wus teached at 3,194 feet.
Cordon Oil & Oas Co.'s well No. 4
In the northeast of 0-20-G Is making
377 barrels nt n total dcpth'ot 2,915
The Cosdcn Oil ft fins Co.ls deep
cnlnff the Adcna Cluett No. 1 In 20-20-5
nnd Is drilling to the Wilcox
Kind. Tho Well Is now drilling nt
J, 44 I feet. This test Is a very In
teresting one ns there Is no produc
tion within throe miles or It.
Wsrs hoppllr rrodartlon. Ett
KOU SALi: A-l complete heavy
drilling tools. 50 off. Osngo 9735.
Experienced oil man will look
after operation of developed prop
nies. and drilling wells, cxpcrl
':n'-'tl In ull phnces of pro lining
"Ml XU linvwllern. ciii-M
Olio of I he new Issues which will
make Its iippearanro on the Now
York securities market In tho near
future, as a result of the Improve
ment In the oil Industry which Is be
ing reflected III n consolidation nl
Interests. Is tho Columbia Petroleum
Columbia Petroleum company Is n
Dciaworo corporation with an ull-bo-lrcil
("tpltnl'iatlflh of fl0,000..
000, ronslsCug of tho same numbe.
of shares of capital stock of par
value II There 11 rs no bonds 01
The company Is n consolidation of
In Young County, Texas
The Cosdcn Oil Ons Co, has
completed Its No. 2 on tho Askew
fnrm and It Is making 100 barrel
natural. Tho well will bo shot. This
Is on tho property recently pur
chased by the, Cosdcn company.
In Mitchell County, Texas
Steve Owens nntl others have n
well l-j Mitchell county. Texns.
which Is now snld to ho making 50
barrels, which Is a good well at that.
North of Wcwoha
Now cornea tho report that Doctor
Hood has a hole full of oil In his
test in the northeast of tho northeast
of 17-9-8. It has not been verified.
The Harmon Oil company and
Swoveland & linrdmnu havo n 40
barrel well nt 712 feet, In the north
enst corner of tho northwest of tho
northeast of 9-17-1G, It adds a
great deal to tho looks of things over
that way, whore there has beon
more gas than oil uncovered of late,
American Oil and
Newest Tulsa Oil Firm
Tlm American Oil & Development
Co. of I'ltlsliurg tins purrhnsctl tho
holdings of tho Dresser OH company,
uhteh Includes Miullieast of 12 nml
tlio northeast of i:i-li:!-l(i: :i2ti nnro.
with 23 mils ami iitlrt barrels dally 1
Tho ileal ,m' negotiated h
ThciMlnro Tack Him Mill rrnroctit 1
tho American Oil DcMiopiucnt
i n, nero.
Hurry Tuck, leo president ami
gcncrnl manager Is hero from Pitts-
nirg 11ml is iiincli pleased tilth the
new purchase 11 m Is iiImi .John llnjcs
who Is superintendent for the new
firm vtlilcli will meet n warm wcl-
(omo In Tulsa.
Ticker Dope ,
NKW YOItK-Tho rhllllns Pntro.
leum company report for tho quarter
ended December 31. 1921. nn opernt
Ing lncomo of $1,820,497; operating
gcnornl exponsfs, taxes nnd Interest
)44n,ltO: net before depletion nml
depreciation, $1,375,377. The above
earnings nre at tho annunl rate of
between fS and 9 a share on the
company's outstanding stock which
Is moro than four limes the present
disbursements, it Is said. The com
pany's operations hnve shown sub
stnntlnl Improvements since thn be
ginning of tho new year, and it is
intimated In well Informed circles
that tho dividend will cither ho In
creased or an extra distribution or
dered when the board meets for ac.
tlon on tho matter.
NKW YOltIC Hegular dividends
declared on Texas compnny, pnyablo
April 3: books clo.10 March 3t.
Htondnrd Oil pf Knnsns omits ex
tra dividend of 3 per cent but de
clared usual quarterly dividend of
3 per rent.
Announcement expected todny of
merger of Whlto OH corporation nnd
United O.is fs Klectrlc corporation,
Tho distribution of CSV bankers'
shnres to bo made on April 1 to'
holders of record March 15 will con
sist of 5 cents cash scrip nnd 12 1-2
tents stock scrip on each share.
NKW yOHK Mlddlo States Oil
corporation well No. 17 In tho north
west of 13-23-8, Osage nation, has
come In flowing nt the rnte, of Jf5
barrels per hour. According to offt
rial announcement this well appears
to he the best one drilled 111
on the west hair of 13 with tho ex
ception ot well No, 2 which, Is stilt
making 4 00 bnrrels a day nfter pro.
duelpg about 17 months. Within n
mllo of the new well Middle States
Oil corpori'i has about 1.S00
a roi under Ichse.
Sinclair Is jio stock thnt has
failed to icjpond to general advance
several of the larger Independent GillUand Completes Dig Well
producers operating In the Mid ; ,
field nnd Us holding! In "!""
' i n ' m-eage of prodm''"?i The Olllihu d Oil corporation,
properties strategically locutcU so completed an X.OOO-barrel producer
Phone Ovigo 78-70
3U2 JNorth Mulll St.
McGREEVY & CO.
Vork Ktock Kxehsnge.
rhlciso Hoard ot Taade.
Nw OrlrHOi Cotton IJxchsnc.
STOCKS. GRAIN, COTTON
Liberty IlomU tlougltl and Sold
Mil. K. IIIVON. Mnruijtr
!tl IjI Third tit, (Hotel Tol.n)
ald Doctor Wllholt. "There are nt
Kast 16 new derricks up, and the
country Is proving to bo awfully
r'isr'es Pnsser, woll known Tulsan
field tho past year, has complete! a
2,000-bnrrol producer In the 3
foot pay, In his test on the Thumai
farm In tho Clear Fork d, 'rift!
Stephens county, Texas. Mr. Hotnn
many friends In the fraternity m
bo g'nd to hear of Ills good luck.
Gosser In Tonkinta District.
Mnertnnn Mann's No. 1 Sand-
ow'sky In the northeast corner of
tho northwest or tno noruiwcsi m
12-20-lw Is a 2,000.000-Ioot garcr
In tho 70G to 708-foot pay sand,
Vct of I'nwnec,
Tho Magnolia Petroleum corpora
lion's No. 3 Attnndcr In the north
enst corner of C-22-3e Is dry and
abandoned nt 2,217 feet.
Fnlliiro ICnst of Slick,
The Osage Development corpora-
I nn has a hits full or wilier ai
3.145 feet In No. 1 Page In the
southeast corner or the southwest
ot tho southeast or 2Z-1G-I0.
Ttn.,1 n l.Vtltnrv.
K. H. Illork's No. 1 MrNac In tho
northeast corner of 3-14-10 Is a hole
full or water and nnnnuoneu at
The Two States OH compnny's No
I Hredonthnn In tho southeast cor.
tier of the southwest of tho south,
enut of 19-ls-8w Is dry nnd nban
doncd at 2.3G5 feet.
South nf Chtcknstin.
Caldwell & Cameron hav ca dus
ler nt 1.42A feet In No. I Int. No. 1
hlnck 9. "O.r.n.Tw. Tho Magnolia
retroicum corpornnon s i.ong inrm
test In tho southeast corner or the
northwest or tho southeast of 33-6n-7w
Is dry nnd abandoned nt
Tho Moore Oil compnny Nn. 1
Simmons In the southeast corner of
11-6s-o Is dry and abandoned at
With the Oil Men
Dr. J. C. Wllholt, prominent op
erator, nrrlved In Tulsa yesterday
from Kansas tflty for a short visit
with his many friends In this city.
Doctor Wllholt is looking over the
Oklahoma fields with a view to op
crating In Tho local big pools this
coming summer. Ho reports that the
Ward & Wllholt well In tho north
oast of tho northeast of S-22-4C, Pea
body district, Kansas, was completed
this week and Is good for 300 bcrrels.
"Tho west extension of tho Peabody
Is having nulte a nlre play Just now."
Letter lleitdi. per 1.000. ,, $A,00
Note llra.1l. per 1,000 3.:j
.statement!, per 1.000 .1.00
Knvelopea. per 1,000 4.00
fltlnniiitreil In I'lesee YOU.
Tin: tim ics 1'itr.ss
CALVIN O. SMITH
Bought and Sold
Count; llon.la City Honda
Heliool Illalrl.l Itouil 1)1. trie!
7ia Kennnlr nMr.. Tules. Okla.
I'hune Ohii 138 L. I. IS
PATTERSON STEEL CO.
t-Ilesma, t'hsnnela, Antlra, riales.
Complete 81 eel tlnlldlnra
Otflee, rihopa ami tVsrehoaia
Xsnlliua and 1'rtaro It. It.
Tolaa Oanxe 7815
of Kansas city. Mo.
MEMBERS SEW YORK
STOCK EXCHANGE md CHI
CAGO BOARD OP THADH.
Stocks; nonda. Grain and Cot
ton. Standard Oil and Sub
sldlnry 8tock. New York and
Boston Curb. Liberty Bonds
Bought and Sold. Private Wires
C1IAS. D. CIlOTCIIKrr. Met.
Telephone Osage 9200. No. 11
Hast Fourth tu Tulsa, Okla.
Patented ' Mmamor
THE TOOL THAT
loses no cutters in the hole,
leaves a smooth level shoulder
on which to set pipe,
reams a perfectly straight hole,
leaves no knots or lumps on wall
will do your underreaming bet
ter and at a less cost than any
other on the market.
Yc . -an Buy or Rent One From Any of Our
THE BRIDGEPORT MACHINE CO.
Main Offices and Shops Augusta, Kansaa
Uncrorrcamer Factory Marietta, Ohio
Branch-Storei Tuba, Ft. Worth, Dreckenridge,
Ranker, Rlainjr Star, El Dorado, Florence
South Bend, Texas
WITH THE LIVE ONES IN
THE R P FINING BUSINESS
OWENWQOD OIL CORPORATION
PnODtlCKnB HKKINICIIB M AftKRTKna
AEIIO BPKCIAL mODUCTS
OWBNWOOD IIUILDINO FOIIT WOaTlt. TRXM
John T. While, Mar.
Ceilar 1111 Cedar 34(1
INVADER OIL CORPORATION
BUPERinn PKTnoi.KtiM piioducts
1 seo 1
BARNSDALL REFINING COMPANY
MANllFAI'TtlllKnS AM. PKTltlll.BHM PIIODUCTS, 1 1 10 ft OIlAnE
l.tmlllCATINO Oll.H. CYl.lNDKii BHil.no nnu uiirinpj WAX
Kaeentlee Olflcea. Tenth floor ruroleum Illrtit.. Tiilaa,
Reflnerr narnadalk Oklahoma. Phona Oaaca I0H
OIL STATE REFINING COMPANY
Utah Orada Petroleum Productn From Oarber Crude
AV. H. BARBER COMPANY
Alwaya In the Market for Petroleum Product
COSDEN & COMPANY
mail OHADE PETnOMtOM PnODUCTi
ACME PETROLEUM COMPANY
Chlcaco Office! 10 South Mlchlcaa Arenue
KANSAS C1T7 OPFICB TULSA OFFICE DALLAS, TEXAS
401 8eonrttr Bldi. 201 Atco tilde. (00 Doner tlldf.
FUEL OIU OAS OIL, Kr.IlOSENE. NAPHTHA, OASOLINE
PRODUCERS & REFINERS CORP.
Producera and Reflnera of
P.vnCO" PETItOLEUM PltODUCTS
New Pirat National Bank tlullJlriR TULSA. OKLAHOMA
SAPULPA REFINING COMPANY
Phonea Oeage (100.01
XIANUFACTUIIEIIS PKTHOLUUM PIIODUCTS SALES DEPT.
TU Nan Fliat National Hank Uldl.
EMPIRE REFINERIES, INCORPORATED
natlnertea Located at Okmulcee. Oklahomn City. Cuahlns. Pones C!'.7. Oils.
Sale Office rhonea 1006 (It Unity DId. Tutta. Okie.
CHESTNUT & SMITH CORPORATION
Manufacturer Cailnghe&d Abiorptton and Dltnded Oaaolln
rbon Ota tltO Tulia, Oltlahomi
MANUFACTimuns of stuaioht run oasoline
Oeneral Office 101 South Cheyenne Street
"hone Oaai 1(09
ROXANA PETROLEUM CORPORATION
PRODUCERS AND REFINERS
St. Louie, Mo, Arcade Did. Tulaa, Okla., Mayo Dldi
Chicago. HI., Continental Commercial Dank Hide.
SHAFFER OIL & REFINING COMPANY
PRODUCERS AND 11EF1NER3
Produclnt and Land Dept.
70S Kennedy Illdg.. Tulaa.
tOI South La Salia SU Chicago
THE PURE OIL COMPANY
REFINERIES AT CUSHINO AND ARDMORO
NORTH AMERICAN CAR COMPANY
I OEO. F. Illlinil AM, Dlatrlct' Manager. 1001 Daniel Hide. Tulaa.
Workat Coffeyirllle. Kanaaa . Telephone 1110
' OABOL1NE WITH THE PEP
CHAS. F. NOBLE OIL & GAS CO. .
Producera and Iletlnera ot Crude Oil and Manufacturer Cailnghead Oaaollne.
Main Office, Tulaa. Okla.
OKLAHOMA PRODUCING & REFINING CORP.
Or AMERICA .
PETROLKUM AND ITS PRODUCTS
Salea and Oeoeral Offlceal O. 1'. & R. Building Tulaa. Oklahoma
CONSTA'NTIN REFINING CO.
Oeneral Offlcea, Tenth Floor Flrat National Bank Dldg.
REFINERIES TULSA. DEVOL PHONE OSAOB (M0
IMPERIAL OIL MARKETING CO.
C U MAY1IALL Prealdent
Marketera Petroleum and Ita Produrta, Including all Oaaollne. Naphtha. Reroaene
Dlatlllatee, Oaa Oil, Illack Oil and Road Oil made by Imperial lteflnlng Co., Ard
mote, Okla. Oeneral Olflcea! nth Floor Waggnnot Rldg., Fort Worth. Teiaa
THE MARLAND REFINING COMPANY
nEFlNERS OF HIOII ORADE CRUDE
J. F. CAMPION OILS
l07-(0J.tO COSDEN DLDQ.
HIGHWAY OIL REFINING 'CORPORATION
IIAW CASINOIIUAD AND CASINOIIEAD DLEND3
We Sell Only Guaranteed Oaenllua of Our Own Manufacture From
Our Nine Oklahoma planta
OSAOE Mils U D. IK 20M1 LTNCII ULDO, TULSA
TRANSCONTINENTAL OIL CO.
PRODUCER3 REFINERS MARKETER
NEW WRIOHT DLDQ TULSA. OKLA.
MARATHON MOTOR OIL MARATHON OABOUNt
KANSAS & GULF COMPANY
PRODUCERS REFINERS. TRANSPORTERS and MARKETERS
PETROl.EPM AND ITS PRODUCTS
Petroleum Uldg. Telephone Oaege (010 Tutea, Okla
GENERAL AMERICAN TANK CAR
R. J. SHARPS and R. T MI'SSER. Reaidenl Acente
IMPERIAL REFINING COMPANY
C U MATIIAI.I. V free and Oen Mai
Manufartlirere high grade Omollne Naphlha. Ketueene. Klellllalre Oaa Oil. Fue
All Dindiirt aold Ihinuah liirlal Oil Malkellna Compant
Mlh flooi W T Waaaonrr UiiUdlng Fort Wntili Teiea
Oil and Road Oil
Oeneral uftlrre Fort north Teiaa
AMERICAN OIL AND TANK LINE COMPANY
MANHATIAft OIL I'ltlltlDLTS COMPANY
Manufarlurera and Markrleia nf Pelioleum Produeta.
y rianeland Oklelmma.
a1ea Offtcel (31 Kennedy Hid.
Ph.mei Cedat 1141 and IT"