The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, April 24, 1920, Final Edition, Image 14

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The Morning Tulsa daily world. [volume], April 24, 1920, Final Edition, Page 14, Image 14
About The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927

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The Morning Tulsa daily world. [volume] (Tulsa, Okla.), 24 April 1920. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn85042345/1920-04-24/ed-1/seq-14/>

Newspaper Page Text

11
TULSA DAILY WOULD, SATURDAY, APRIL 24, 11)20
1
Financial
Livn Stock
MARKETS
Cotton
Grains
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, tnvAtunf Mry vallln ni for apMuJatfva tn
tirttn at (fit rlor l-lni( wharf. intfn
lion at cratlli. rntitfnuvl to m wit I (Ml It
Mil.
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rtfo and n'hi"m1 hrnn l.aa nf 1lmiritfl
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t point lu an ftifinalon of Ihl Miller
l flit tiaar futun .
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par rnt ra'a llanvlaal aalllfttf nf atirla
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ftalM mount to l.Uft.OOO Hhr.
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I lirokcn Arrow Briefs
J. M It.-irnnril residence, and It. H.
M)t:lifll lioucht tlio V. C. Jonklnrt
ICBliltirp. S
Oroiilirl liiirt been eletire I for the
1. l l.i'mlim luialtiorKi luiuw on
Main sitroot. the rxnlo of his iin-B-'iit
, loc:ill(in (orcliiK lit in tn movo
hardf Mr. nnd Mm. Ilui;h .Sanitfrs hove
rcturiiptl lo thlr linnir. Iti 1'a.vwiiink-i,
after a bilof villi tn the fiinillleM of
M. I,. Siinderf nnd V. V. 11 to tl til
"Col'fRO Town" will Ix iireniitcil
nn the nnntnil uIum jilny bv the hii-I'-r-liiiilnr
e'.mfe nf the liluh mIiihiI
rebeig-sul fer which l!-li'iw In lirnH
Klvtn miller the direction of .Mm. Sf
0. W illltllTIR
IIIIUKKN
. Il rillll 1 a. -II 1
Ilia 13 134. .nm.na.al. in 1. ..I ,. '.'. I "-'" """""l "1" , - " " I
bank M.iJ', , minmarrial to-.lay hllla 'IrKiinljuillon nf the V l'. T I'
Uk.S5ZrJLiUy. r.rh.,rl",?,!"S roHilltcd in the election of the j
Haitian tratirm MimiM IK ikla I illim lr.. ..fi,l..,i'. .t.Mit .iium f tl
Sand Springa Briefs
their old clothing while the t, Mt
hitlt nppcara to have- taken o' .lis
and nitrons an prcferrable lo w
miring null.
Not n pool hall Is opep In r itl
Kprliig" and nn "choc" nor khiii
doim will be allowed during the rt
llnie the prencnt itdmlnlMr.itlon "J
iiihliin In offlccj Mivvnr 11. I '-S.id
die (ilinounred today. New city c "
cIhIm take the oath pext month j
ADMIRAL ENDS OWN LIFE
in
Ill
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l.lta damaml 43 raltlaa 13 40,
Mark ilainaml I 40 al.lea 141 "
'in. arnmar.t Iwuda afrnnK . rallrt.ad honda
Irrruular.
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.. . .... . ..lt !.
IliillH, lirrildent, Z I .1. Mult, t Ice I .... . . .:. T,:..V.'i u.V.i..r ... ir.u...
president WVIlH,' rccjiilliia kc- i "" . "l m ,7, .', V Vi ml
1-li.ry, V. M l.ewK corr.ripondltiK i . Kv 11 ,l'l'',.B, .', 'f.ln',,t..
Mwrctaiy IC T Nelbllns, tri-naurer; i. , , 1 K i, V
Ceortto V llrlner. on cvatiKellsins
A. Taylor, on flower mlmloiK, 10
T .S'elblnm. on inothcrn' inrtliiBH.
Next ineellliK will be held at
Ttinailiiy afternoon at Iho Christian
Ituflr Mnrkrl.
KANHAH CITY April 31. Kafir and
ail. ...i.a ii xaa. I 40 1
I.1H..1. I II. I'riitM'in..
f.ANHAH I ITY, Apill l--lutter an
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IV Wh.r, 4
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llaHapalDt 4 7 haa.l. rnarkrt He dawn!
.; I.anva !7.toaj i m ......
07V. Ilnmllaaialptk 1 too haadi market II
J4 down. Ilglua Ultont
t:b Hhrap- ltr..ltla i. lion head; market lie
ISitllowar, lari.tw 114104 21.
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KANf-AH CITV. Mtrll II --llna tl
tlll.la i.V0 ltvH.I, tuatkat lu.lally 71c low
rr t.i. 114.4, litilk IlKht and i.ie.llum
pi r.oi 14 Co. hulk l.rn.y Ill 7ltffl.lv
faltla- luirlpl '100 has, I, nmtket
Call lannry aleartv. Iilffh 7 Inw 7. ...I.
)n rata 7, Hnalnx hi. I 7. offered at 7,
lat hwn 7. hank arreianrea (
I.II...I. 11,.. ..i t I..Ih
NhW YuitK. A.,rit M.i.tha... I. .i. 'Church to complete mater nf chart
rloiied 1 or iitenil..T.
Iaki3la ..1 at .A . I. I a... I.e.. I.ii.i.Imu.,1 I I. f. tl
; Ho'nd "i. :"::::;:::::: : : : & "':. :i "rh, :f "-'r
ruat M i M ""win iuuii lur iiiu i'-v iivim ui-
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vii tory ana an jo
Victory rAH 9M
34114
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41
',
tl--
Uow Issue
$50,000,000
, SINCLAIR CONSOLIDATED OIL CORPORATION
' ( Five Year Secured 7J4 lcr Cent. Convertible Gold Notes
' Dated Mfty in, 1.)'40. Duo May 15, 11)25. .
Interest Payable May lfitli and November Kith. . ' , '
Rc'dccmnblc on sixty days' notice, nt 105 nnd intoi cst, if redeemed on or prior to May 15, 1921,
and thereafter nt one per cent less for ench year or part thereof elapsed after Mny, 15,
1921, except that in case notes are issued with stock purchase warrants nttnehed "
those notes not accompanied by appurtenn'nt warrants will be, redeemable nt
y 100 nnd interest. "
Interest to bo payable without deduction for tin; normal Federal Income Tax tip to 'lie per
annum which the company may be obliged to withhold.
Coupon notes in denomination of if 100, $500 and $ 1,000, and multiples of $1,000: Notes may
be registered as to principal in denominations of $1,000 and multiples thereof.
Total authorized issue, $75,000,000.
' THE CHASE .NATIONAL BANK, NEW YORK, AND
CENTRAL UNION TRUST COMPANY OF NEW YORK, TRUSTEES
v7
For information rcKardiiir,' these Notes we rfer to lfitter dated April 19th, 19U0, of
Mr. H. V. Sinclair, President of the Corporation, which he has summarized briefly as
ioiiows:
SECUrflTY:To be secured by pledge o( all the capital stocks and other se
curities of subsidiary companies now owned or hereafter acquired. The
Company mny not nnd will not permit any subsidiary to create nny liens
unless deposited under the trust agreement, excepting .liens on marine i
equipment nnd tnnk enrs, and purchase money obligations. r, '
EQUITY: The Corporation's outstanding enpitnl stock, nt current quota- -
.tions, represents nn equity of about $150,000,000, ranking junior to
these $50,000,000 notes.
ASSETS: The Consolidated Balance Sheet as of December 31, 1919, certi-
ficd by Arthur Young & Co., toge'her with proceeds of this issue, shows
total net assets available for the nctes of over five times these notes, the
net quick assets alone on this bnsit being equal to over 1.G0 times these
notes.
EARNINGS: Consolidated net earnings from operntions after Federal taxes
show net earnings available for interest and depletion, etc., as follows: i
Ycnr ended December 31, 1917 $15,131,967
Year ended December 31, 1918 19,640,717
Ycnr ended December 31, 1919 21,890,898
These earnings for 1919 equaled 5.83 times the annual interest on the
new Notes and fof the three years averaged over (jvc times such
interest.
CONVERTIBLE: Each $1,000 Note to be exchangeable for 10 shnres 8
Cumulative Sinking Fund Preferred stock (pnr $100 each), and 2'2
shares common stock without par value. The Notes mny instead enrry
detachable wnrrants entitling the holders to purchase said amounts of
preferred nnd common stock fo $1,000 (plus accrued dividends on
the preferred stock), up to May 15th, 1922; thereafter, the Notes are
to be convertible on the same terini but only if accompanied by wnr
rants (if nny) originally attached. In case of redemption, the right to
convert extends up to 30 days prior to such redemption date.
SINKING FUND: Commencing Janunry 1st, 1921, the Company will pro
vide a semi-annual sinking fund of nt lenst $2,000,000 to be npplicd
within sixty dnys to the purchnse of the Notes nt not exceeding 100
nnil accrued interest. If Notes nre not available for purchase at that
price the unexpended balance will revert to the Compnny. Credit is to
be allowed the sinking fund by roasoti of Notes retired by conversion or
through the exorcise of the purchase warrant privilege
PROPERTIES: The Corporation, through its subsidiaries, owns and con
trols oil producing properties in mnny fields in the United States and
Mexico; a thoroughly modern pip line system of about 2,000 miles;
ten modern refineries with a dnily capacity of over '15,000 barrels; ex
tensive marketing system in the United States and foreign countries;
in short, the properties comprise a complete unit in the oil industry.
The legal proceeduiKs are beinu passed upon b Messrs. Rushmorc, Hisbeo and Stern,
and Messrs. llornblower. Miller, C!arriMiii & Potter.
Temporary negotiable receipts will bo deliverable in the first instance which will be ev
chanu:eable for the Notes, when, us, and if issued and rei cived by us.
It is expected that application will be made to list both these Notes and the Preferred
Stock on the New York Stock Kxchantie
We offer these Notes subject to confirmation and approval of counsel, when, as and if
issued ami received by us
AT 98 AND ACCRUED INTEREST TO YIELD APPROXIMATELY 8
BLAIR 4&, CO., INC.
KISSEL, KINNICUTT & CO. MONTGOMERY & CO
WM. A. REAL & CO. - j. AND W. SELIGMAN & CO.
5I'lNtJfc.K, r KAbN. & u. ' WHITE WELD & CO
-4r.' 4T a I ln m K T V I nr r-V J-l lL-a.ral ft a. at . a. . - - .
.1K1 IKUai AINU SAVllNUb SAINr
CHICAGO
II 1 I M r" IP Tni lew i .m n . . n . ....
IL.IHI1WU wwJji rtiiLartviWG BANK
CHICAGO
Tlio MntrmrntN priwnleil iilimp, while urn Kiiariinlccil, urn nlniilnci from Miuruvi ulilrli n lclicoil tf b
reliable.
X tnrk .Mrlnl.
NKW VOUK. April il.Cr,Prer dull,
He.lroylk' aixtt and naarby Ilium,
May. Juh July lit, tflSH.
lion firTn and urii'lianne.1.
Jin .ol tl.OOj April-May Sl.Jt.
n in .m.it.. ...,ar
nn; m.r.'in
'I'he interchili nil camiuiiRii uh
IJtineheil liere Mrindav evening wiih
a popular ineetlnft hr'ld at the Christ
ian church. Oiit-ot-tfiwn peukern
were ltev. Malah. of Hlac.kwcll. M.
T. Tlu(liinfcii of I'laremote ami I.
I,. Kiannon of TuM Itcv. ,1. i",
V:itnn. loivil .Methndl!4t tinaioi'. will
henil tin- local uhurchei In Iho drive
Melal rich. nun .Mota lead uulat. aUt ,,p lh,M conilllB weeK.
May J.OO. r I A. 8 CratlilocK iinm piirenar.e.1 tne
nff(.rad 5.16;
affair IH the annual Rot toKcthsr of
the men and their, fa mllli ,
The obi community church of tli'a
city Iiiih liecn imrchaned by the
Chrlsllnn church enncroKatlon and
willJbe remodeled ami opened wllh
In a few wecku. Meiintlnio thaChrla
tlan wornhlppers havo held Hcrvlccs
In tbe high nchonl nudllorlum hcv
entl inonihn. 'I'he ootiimiirilty church
was fold neveial .veals uro and hart
Hlnce lieen ufcd iih an apartment
houne.
s. s. M..S. Overall guyiiand apron
uhlckenH.'' readH n badRe worn by
a number of hlsh Mchool ntudontB
here followlnR the advent of the
overall club movomcnt throughout
the country. About one-half of the
httidcntn arc finishing the term with
Chief nf Waff nf AUnnlle licet
.sIkkiIm S4lf While on Out) .
AHMINC.TO.V. April 23, Itc
Admlral Carlo 0 Hrlttaln. chief I
staff for Admiral Henry 11. WIIm
coipnuinder of tlio Atlantic flee
cnmniltted nulclde by shooting c
terdny whllo nn duly with the fie.
In Cuban waters.
Admiral W'llnon In advliilng tl
navy department of Admiral Ilr
taln'n death, save, no reason for th
act The body will be brought ' ,
tlio United Htates on the hnspltii
whip Solace. Admiral Hrlttaln
homo was at rtlchmond, Ky.
Admiral Ilrlttaln's son, IlnslR'
Thomas H. Hrlttaln. was on thr
dreadnaiiKht North Dakota and r
Is presumed that ho is accompany
Inp Iho hotly to the Cnltod Stales
Navalofflccrs hero could ascribe, no
reason for the suicide, saylm? he
seemed in Iho best, of health a tut
spirits betero going south with thf
fleet.
V'or carrylUR smnll amounts
Ico cream distances b cone ihapc
paper receptacle hafl been p.ilenie i
liavlnR a folding cover to encln.v
Its contents.
I BANK
COMPANY
New Issue
' "" ' ' mmmmmmmStjT3fK 1 1 ' i" ii uiiaiiii i ' nun, ,
,$50,000,000
SINCLAIR CONSOLIDATED OIL CORPORATION
Five Year Secured 72 Convertible Gold Notes .
Dated May 15, 1920. Due Mny 15, 1925.
Interest Payable May 15th and November 15th.
Redeemable as a whole or in part, at the option of the Compnny, on sixty days' notice, at 105
and interest, if redeemed on o? prior to May 15, 1921, amCthereaftefe at one per cent ,
less for each year or part thereof elapsed after May 15, 1921, except that In case
notes are issued with stock purchase warrants attached those notes not ac-'
companied by appurtenant warrants will be redeemable at par and
accrued interest.
Interest to be payable without deduction for'the normal Federal Income Tax up to 2 o per
annum which the company may be obliged to withhold.
Coupon note in denomination of $100, $500 and $1,000, and multiplcs.of $1,000: Notes may
be registered as to principal in denominations of $1,000, and multiples thereof.
Total authorized issue, $75,000,000.
' THE CHASE NATIONAL BANK, NEW YORK, AND
CENTRAL UNION TRUST COMPANY OF NEW YORK, TRUSTEES
For information regarding these Notes we refer to the letter of Mr. H. F. Sinclair,
President of tfic Corporation, which appears on the accompanying pages and which
he has summnri.ed briefly as follows:
SECURITY: To be secured by pledge of all the capital stocks and other se
" curitics of subsidiary companies now owned or hereafter acquired. The
Company may not and will not permit any subsidiary to create any liens
unless deposited under the trust agreement, excepting liens on marine
equipment and tank cars, and purchase money obligations.
; EQUITY: The Corporation's outstanding capital stock, at current quota
tions, represents an equity of about $150,000,000, ranking junior to
these $50,000,000 notes.
ASSETS: The Consolidated Balance Sheet as of December 31, 1919, certi
fied by Arthur Young & Co., together with proceeds of this issue, shows
' total net assets available for the notes of over five times these notes, the
net quick assets alone on this basis being equal to over 1.60 times these
notes.
v EARNINGS: Consolidated net earnings from operations after Federal taxes
show net earnings available for' interest and depiction, etc., as follows:
Year ended December 31, 1917 $15,134,967 v
Year ended December 31, 1918 19,640,717
Year ended December 31, 1919 ; , 21,890,898
These earnings for 1919 equaled 583 times the annual interest on the
Notes and for the three years averaged over five times such interest.
CONVERTIBLE: Each $1,000 Note to be exchangeable for 10 shares 8
, Cumulative Sinking Fund Preferred Stock (par $100 each), andv2'2
shares common stock without par value. The Notes may instead carry
detachable warrants entitling the holders to purchase said amounts of
preferred and common stock for $1,000 (plus accrued dividends on
the preferred stock), up to May 15th, 1922; thereafter, the notes nre
to be convertible on the same terms, but only if accompanied by war-
rants (if any) originally attached. In case of redemption, the right to
- convert extends up to 30 days prior to such redemption date.
SINKING FUND: Commencing January 1st, 1921, Ithe Company will pro- '
vide a semi-annual sinking fund of at least $2,000,000 to be applied
within sixty days to the purchase of the Notes at not exceeding 100
and accrued interest. If Notes are not available for purchase at that
price the unexpended balance will revert to the Company. Credit is to
be allowed the sinking fund by reason of Notes retired by conversion or
through the exercise of the purchase warrant privilege.
PROPERTIES: The Corporation, through its subsidiaries, owns and con
trols' oil producing properties in many fields in the United States and
Mexico; a thoroughly modern pipe line system of about 2,800 miles;
ten modern refineries with a daily capacity of over 45,000 barrels; ex
tensive marketing system in the United States and foreign countries;
in short, the properties comprise a complete unit in the oil industry.
The legal proceedings arc being passed upon by Messrs. Rushmore, Bisbec and. Stern,
and Messrs. Hornblower, Miller, Garrison & Potter.
Temporary negotiable receipts will be deliverable in the first instance which will be ex
changeable for definitive Notes, when, as. and if issued and received by us.
It is expected that application will be made to list both these Notes and the Preferred
Stock on the New York Stock Exchange.
' Weoffer these Notes subject to approval of counsel, when, as, and if issued and received
by us
AT 98 AND ACCRUED INTEREST TO YIELD APPROXIMATELY 8
BOND DEPARTMENT EXCHANGE TRUST COMPANY,
Affiliated with
THE EXCHANGE NATIONAL BANK, TULSA, OKLA
The statements presented in this circular, while not guaranteed, arc obtained
sources which arc believed to be reliable
April, 1920.
from

The Morning Tulsa daily world. [volume], April 24, 1920, Final Edition, Page 14, Image 14
About The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927

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The Morning Tulsa daily world. [volume], April 24, 1920, Final Edition, Page 14, Image 14 About The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927

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The Morning Tulsa daily world. [volume], April 24, 1920, Final Edition, Page 14, Image 14
About The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927