Newspaper Page Text
o v' "wi .... - V '" - . i ... j . -ri' ...-i.iu.,lM.iui. ( i BEAUMONT DAILY ENTERPRISE. 8 III! TRUST I Flnntil Imtilution of Premintnct li Ctvdcpmcnt cf thu Field. Bii:i!!SV)V-il A - B -V.I K - -w. Eccpt cf Butincsi of This Company it Broad and Difttra in Many Eaten title From That Ueuaily Tran tacled by Trust Companies. Tie Eutriile ha n asked by a far away correspondent, "What Je tie lkaumont TniKt Company?" AiiJ in answciiiiic 'bin kr for iLformation we shall answer the (im-Mii-n more fully than may be txpected because of the peculiar and j.ri;rhBive methods Inaugurated by Ibe managenicut of the institution referred to. Every one In these days baa a sort cf lotion of what a trum company Is. The very term suggests that auch ccmpany or corporation stands for integrity and absoluto correctness in all dealings. As a matter of fact, the trust companies of these United States are the most conservative 11 Eantial Institutions In the world and their solvency is beyond question. Thf.re nr four features of the . t-.o. .nu'i i.nRinoKs Company, as evidenced by their en XH'UUUitlUb 1 I itllL v w u, ...... j w which are above all others In tbelr dorsement stamped hereon, with seal importance to the Interests of this of said Beaumont Trust Co. or by its field. These features are. acting as regular authorized Transfer Agent." registrars of the stock or corpora- This certificate of stock, duly signed tions, the department of escrow, the by an officer of the Trust Co., and realty department, and the fiscal bearing the seal of the corporation, Is agent department. then charged to the account of the Registrars of Stock The mass of corporation by which it Is issued, the people have a very hn.y idea of There are three ways In. which this what the term "Jtegistrar of Stock," change may be made: Number of cer means. An oil rompnny is organized tificate, number of shares, to whom is for instance with 100,000 shares cap- sued, address of that person, and date jtal stock. In the manner which of issue; or. all the above data except stock certificates are often issued, a address of person to whom issued; or ten dollar a week clerk can easily, excepting name and address of person through carelessness, stupidity or to whom Issued. This for two rea purposely, cause an over issue which sons; some corporations do not want may not be discovered in several the address of a stockholder recorded months. This can be prevepted by outside their own oflices, others want registration as adopted by the Beau- neither name nor address of stockholrt mont Trust company, and the man- crs recorded outside their offices.. It per in which it Is done from begin- lays with the corporation Issuing the W to end Is' this: .. stock to decide the matter. In any The corporation desiring .. tne event there is little cause for alarm at Trust company to act as registrar the idea of this list of stockholders must submit for the examination of being stolen because a trust company the Trust company's attorneys the s too jealous of the integrity of its following, duly certified: records to tolerate inquisitive search 1. A copy of their Charter. along such lines as that. 2. A copy of the minutes of the now, having become registrar of the meeting ot their Jncorporaloi s pic- st0,. tno Beaumont Trust Company says to the corporation: "We will act as your fiscal agent, and receive orders If ft v. J II kg OFFICE BEAUMONT TRUST COMPANY. liminary to. and including the elec tion of their Hoard of Directors. A copy of the By-Laws alopted am, mmloy 1o1. yur stock if you lo- ... .. . . ....I.I under which the business of the said company is to be carried on. ' 4. A list or statement, setting forth the property owned or controll ed by said company. 5. A copy of abstracts, of title, or such evidence lis the attorneys may require, in order that they may in telligently pass upon the sufficiency of the titles to the said company's holdings. 0. A statement under the seal of taid company, setting forth in detail the progress made in the develop in nt of the company's business. 7. A statement, setting forth the fixed charges of the said company, salaries of ollicers. etc. S. A statement under the seal of the company, setting forth whatev er action, il any, has been taken by the Board of Directors of the said company regarding disbursements or uses of moneys, derived by said company from the sale of its stock. All these documents and the infor mation furnished are carefully investi gated, and if the law has been fully complied with and the proposition is a good one. the Trust company takes i,u ,.,,ciii,n .if 1'i'LMstnir. lor each company a vised for this line of business, is pro vided, and the applying corporation is . red i ted with the total number of shares of its capital stock. When a c-rtifi-ate ix issued it Is sent ti the Trust Company, where it is charged ii in thf .oriMMHtion issuing it. and th.- sire, in which event, make us a com plete history of the progress of your operations: as you acquire holdings and increase or decrease your business, your net earnings, your holdings, your assets an 1 liabilities, come in and keep that history up to date In a Look es pecially provided for su. ll matter and which will cont;iii only the matter furnished by yon. Name one officer of your corporation by resolution of your di rev tors to attend to this. We will answer all letters of inquiry regarding you. keeping carbon copies of your re plies tberto. This correspondence .an be seen at any time during our office hours by your duly elected represen tative." The effect of registration of stock in a corporation as above outlined is that the holder of such stock feels safe against an over issue, that the corporation is organized in accordance with the laws of the state, and that it. is a business propositioin on its face. Of course, tlie ultimate value of the stock depends upon the management of its affairs by its officers and direct ors. DciKirtmcnt of Ks. row : It often , . , . ,,,,. ,.. happens that a transaction occurs be- stoi k ledger especially tie- 1 1 . i tween two peiMiu?. nut- iw-iiiH .in... and the other the seller, wherein secur ities and money or deeds are to be h.bl by a third party, pending title scar, h or the . ompletioin of title, or Mime oilier matter collate! h to the consummation of the transaction. The TO inr .til ni i.mi ;-!-....... ... . , i papers, monev or ibt ds are then in al vl the Trust Company is affixed. Ml ' " . . - , .. , ,. escrow be ng held ly the third party. Across f . h certifi. ate of the sttvk ate , t "Abo has instt ii. tions to turn mcr t.i rr ntetl ihe statements: ' . , ... ni the biiver thai whi.li is ticing held Weit-rtifvthatthisceitin.ate.au- " Jt for hh.m. of the .apital " -T-"-l the ,cll- tp k f ,h.. Oil Con. " I "' ""1,, r 1h"' .bartered under the laws of th "el.. an I n..n mas .,.,... . j T I,,. , ntistfM bv the bejer on the cotiMd.non f the tT t,- Urnn,..nt 1 mrt Cmnany. ..i trar.con th.r rndr.. T. T- . . ,., ,,f Ooniianv a.is a strs Vtrdd. r In lany. 6Ule tte tl f ar." Co. oharc author! '! by .t i"terf "aM i nmpatii. Kurt 1i r tbat ntsm a t.-ui iiia.b" to Of t- "ir attorn' s hn hav amin.-l Jtto 1e btalitv and tab'it -f tb- t-r- uti'in tf .:! !-ti. ibit ' ;Td,r t..h tt- Mud .tmi.r. i ii':'.c tt "T. ."n -th ati.l tt at 1. r-rnf. " t ' rt iiv Md t'-d vn- il ri ! 1 ' ' f'-' ercit T"i-1 Co ' t'-t Tif r' T"p U- ir" s "' '" ' n utt.-r. hm me no . ni to . rv- mti.-r tbn a. tine impatlially and j-iiH t.n tbf t-i at int.r-i-t. K- a:t IV patini. tit : K.-1iit s 1bt ti).- .1. man-l t'-r t ' e 'airr tunlter land iirprel and 'in :uipr... .t . ity -r.'i"t i'l t-or -tantU in. r. asit.u. tb B-a'iniotit Ti'i-t Cotiipir. . f.-"t.': . it:-l a r.a!t ' p -ttu. -tit Th - ri'l'' tt f.at-ir. of t-- 'r. t ,;V r.1 i'i t'i .n r-v- i'.n lai. t-rH to t p li'-tr fl .i ri.r' .t itt a-i"i f t r..- .n I-.-.. ! c?.r.i.f - and chances for investment In this market. In this department, the Trust Company Is not hawking prop erty around. The management of this branch is in the hands of Mr. John J. Westcott, a practical real estate man who has been living in Beaumont about seven years, and who has been engaged in the real estate business during that time. Fiscal Agents: This department of the Beaumont Trust Company's busi ness is grounded on a rather different plan than has been adopted by any other financial institutions ,in the L'nited Slates. One function of this department will he a general commis sion brokerage business, buying and selling stocks, bonds and other secti'-i-ties. Another, will be the financing of business propositions, which, of course, involves the floating of such in vestments in northern cities through either branch oflices or through corre spondents. The Beaumont Trust Com pany has In contemplation the estab lishment of branch offices In New York, Boston, Philadelphia and Chi cago. This is an innovati'iil, and opens up unlimited possibilities for the Trust Compnay. It is not at all im possible that the Trust Co. will estab lish a branch In London which would be an innovation that would be attrac tive to foreign investors. Gen. Hous ton's plans along this line have been matured most carefully and it is likely that they will be put into execution before many months. .. . The present management of the Beaumont Trust Company is under Mr. ,1. N. Huston, as president, and form erly l'nited States Treasurer in Har rison's administration, and Air. Jason C. Moore as treasurer, a man of unquestioned financial ability and shrewd business acumen. Associatial cd with the above are such men as W. S. Davidson, president of the First National bank of Beaumont, ami who is vice president of the trust company. Mr. O. B. Creevos, who is a director in the Beaumont National bank, and connected with many other of Beau mont's leading enterprises, is the sec ond vice president. Mr. W. K. Bri'-e. a banker of very large experienc e, very successful in all his undertaking, president of a large railway company, whose residence is Mason City. Iowa, is third vice president. Mr. Frank Cummins, who is cashier of the First National bank of Port Arthur. Texas, is the secretary of the company. Messrs. Creer & C.reer. one of the lead ing firms of attorneys in Beaumont, are the counsel for the company. With such men in charge of this in stlitution. and with the efficient man agement of Messi-s. Huston and Moore the BcHumoiit Trust tYimpany Is equip ped with faiilitif for nwperly doing eery litif of .tiin" permitted by their hart'-t. The offl.-. of tl.f Trust Company are tcmiMiranly in it. Starke Bio- k. tint the Coniiwnv -xr-is in the wry near fntuif .wh'-n a tiithlp Us at Ion can Im ..-iirt. to ! t a bcildinn for its own up tiih ill tf alaptcd for Uifir hMwon-f and also ill bav .nn n.,iV v tit"-wcii i ii'icMti f"ty it iautr ?i .-.it jiidtni. tit. the V:;n3fDt Ti -iii iitnpaii i upi" potion ir i:i . t.al.l. it to .-.untriiei"- wry tr.iii to ih- .-. and .rot" ri') m of all I. miniate i.i;Mti-s t rp:'!- !ti thi l- !:') . Tb- B- a ini..T:t Tni't 1'on.pany incotiK-ra'f.l nn-Vr 'b1 1 T mi'h a -apiT! of I :. on M !'. V-1. to '.' a Eiital lr'i-1 .-iTtpery i.-,iT. TT:- "er.of tt-- tttpi-T.T lO-inl in ?t t.-rm r'i oi;'! and !i-5 friiT ,n Y t'i. H: nt iff .n.-fct To act as i rusic, Assignee, Execu tor, Administrator, Guardian, Receiv er, Agent, Registrar and Financial Agent. To do a general fiduciary and de pository business. To act as surety and guarantee of the Fidelity of Employees, Trustees, Executors, Administrators, Guardians, Registrars of Stocks, Bonds, etc., Fis cal agents, and General Fiduciary and Trust business. Also to act as surety on bonds re quired in judiciary proceedings. BEEBE WORKED HARD. Good Bye King Coal. I'll hang my scoop on the roundhouse wall, Four our day of grief is past; We won't need poker or pick at all, For the big tank's done at last. No more we'll dread to take our turn Because of hours of toil, For mechanics are working overtime Equipping engines with oil. t. - So more will the tallowpot's weary back Strain at the shaker bars, Or shovel Fuente or 'White Oaks slack 'Till the smoke stack showers stars, No more will black smoke roll on high When climbing Aden hill. Like a Kansas cyclone, hiding the sky, Or a Georgia pine tar kiln! We tallow pots hum a glad new song As we think of the future years When we'll ride the seat box all day long, And guy the engineers! No more we'll dread to take our turn For the day is drawing nigh When we'll have good Beaumont oil to burn. So. good-bye. King Coal, good-bye! El Paso Herald: Organization of a Big Oil Company Due to a Newspaper Man's Efforts. Ellis H. Beebe, a well known news paper man, Is responsible for the for mation of the Export Oil and Pipe Line company. Mr. Bebee, who is a Grand Rapids lad, came out to Beau mont In early May for the purpose of writing up the situation for the Mem phis Scimiter. While collecting the matter he, like others, became inoc ulated with that unconquerable mal ady, petrofobia, and ft took on him good and plenty. In order to mitigate as much as possible the ravages of the disease, he wrote and wired Sen ator Charles A. Towne at Duluth that he had a chance to pull off a million and to come quick. Senator Towne, whose private secretary Beebe had been four years, finally came to Beau mont, and the Export Oil and Pipe Line company was the result. Mr, Beebe, who was made auditor of the company, has gone north for a well earned rest, he having collapsed from overwork. His home is In Duluth, and it is pleasant to note that in one in stance at least a hardworking news paper man has struck pay dirt. HISTORY Of GLADYS CITY- (Continued from first page.) t-rties for the cure of indisttfiion. rhtunifctUm and all blood and cutane. out disease as the old wells at Sour Spring and do now tlione at "Sour Lfcke." The "hill" part of the land ia of a considerable elevation above the common level, and the lands between there and the Gulf of Mexico are open, without any Intervening or adja cent low lands, swamp or niarshes.to obstruct or affect the health tlving breezes of the gulf, and the hill land Is well adapted to any extent of beautl ficatlon, Improvement and develop ment, If not prevented by the exten sion of the oil fields, and as a health and pleasure resort there tan te no better in Southeast Texas. The natu ral curative virtues of the water may be reached by excavating wells to a tlepth of from 10 to 20 feet and over a considerable portion of the lowlands contiguous gasses bubble up through the water, as demonstrable by burning gas jets or by Inverted air tight wells, etc. It was contemplated by the com pany, at one time, to construct, main tain a railway line from Beaumont to this locality for the transportation to and fro of pleasure and health seek ers, and to erect a hotel and other ne cessary Improvements thereon but the necessity for this line is now, in a great measure, obviated at least for such purposes, by reason of the devel opment of oil and the existence of the two railroad lines. iJII WANTED. All to be used in im proving well de veloped group of free gold quartz mines. We should have 2000 feet of iron rails in tunnels, 1000 feet tram to deliver ore direct to mill; to put up hoisting 'machinery, pumps and other much needed improv ed mining machinery to reduce ex pense of delivery of our ore to mill and enable us to operate same contin uously. Daily capacity of mill, 40 tons. Have complete cyanide plant of 40 tons daily capacity, which saves 90 per cent of assay value of the ore. Numerous assays give $8.00, $90.00, $200.00 and up to $1000.00 to the assay ton. Value of ore now in sight estimated at $20,000.00, and lo cated above water level. The mill ' has been successfully run four months. This money will secure interest in property if wanted, or will give ample security.. .For very full particulars address JOS. H. HOOi-tiS, Improved Rice Farm. 1500 acre improved rice farm with two miles of main canal, and about 15 miles of feeders and cross levees. Pumping plant capacity 1,000,000 gallons an hour. 1,000 acres under rice cultiva tion, balance in timber and pasture land. Seven miles good wire fence. One large main dwell ing with kitchen attached; 3 tennant houses; barn with hay loft, to stable 32 mules. Ware house capacity 20,000 bushels rice; shedding for ali machinery. Farm is in first class condi tion and well located for water and rail trans portation. Is the best rice farm in the country. 60 head of cows can be easily kept on this farm, in connection with the rice industry. This place properly managed and farmed will net over ten per cent, per annum on the price for which it can be bought at present. well will be m.u h more rapid ...an has IS SUltaDie IOr SUOCUVlSlOn lor tWU mi co been the ease for sometime past, and families. at a depth or from no.) to i7'o feet The oil indications on this property are very the Federal company's officials feel good. Prospecting for oil is going on within 2 perfectly confident of obtaining one of iipc fVifi discoverv of which would increase the- - 1 mnnntimae 1OOOnTI TOT WHI1I, ing to sell is age and inability to give the farm, my personal attention. Correspondence invited The Chaison well of the Federal Crude Oil Company has attained a depth of linn feet at which point the S-ineli pipe is being anchored. Work from this time forward on the Chaison the biggest wells in the whole and they expect to tap the oil strata or lake at a greater depth than any well hitherto made which will result In a heavier pressure. NATHAN SK1.I.S IT rOK 1.E3 P. O. Box 459. Beaumont, Texas. S. M. JONES. Prs. J. F. MAXWELL. V. Pi os. fc Mar .1. S. ; K)D. St eretat y. Acme Supply Co. Successors to Acme Sucker Rod Co. of Texas. Dealers in and Manufacturers of w OIL AND GAS WELL SUPruts in ulhlhmi.. g irl,W, anJ C.,l Fittings. Hras Gd J' I- "rdf?: m slr.d Pa-k;nc. Steam lloilers, Enirin and Pamps. Mat hin? rv and Ga Engines. EmMm-er. Builder and l"n'ra. ti.r for Hire FarminC Marhit.err and Irntra'ii"! Pint . . Aeents fur Ajax En ne ;vni. . J.Ln Brecr.au Boilers. Main Office at Zr. CORSlCANA.Tex. Branch at BEAUMONT, Tex. lUUlUUUUUUU i