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Newspaper
Comanche Chief
Location
Comanche, Texas, United States of America
Date
Sep 05, 1919
Page
3
The Rex Refining Company of De Leon Texas offers an investment chance with strong dividends. The firm owns a debt free 3,000 barrel refinery and shipping equipment, a 16 acre site, and tank cars. Most equipment is unloaded and construction nearly complete with stock offerings limited.
The Rex Refining Company states it is not a promotion affair. It already owns a complete refinery being moved from Cherryville Kansas to De Leon. The company plans to erect the facility rapidly and offers a limited stock sale to fund a pipeline, the only unpaid part of the plant, though construction will proceed regardless of sales.
Advertisers propose a 3000 barrel refinery to be in operation within 60 days and a privately owned pipeline from oil fields to De Leon. They claim exclusive ownership for Rex Refining Company shareholders and aim to maximize profits, with contracts for 3000 barrels daily and 25 cents per barrel line charges yielding 750 dollars daily from surplus capacity.
The document presents projected profits from Desdemona Crude Oil refining. It details per barrel revenue and costs, including gasoline, kerosene, paraffine, steam refined, gas oil, and loss. It calculates net profit per barrel and annual totals from 3,000 barrels daily for 300 days, plus pipeline delivery figures and potential dividend impact.
J D Morse president of Rex Refining Company has twenty years in Oklahoma and fifteen years at Morse Standeven Willingham with offices in Hobart Tulsa and Oklahoma City He led Home Refining Company and Wright Refinery in Cherryvale Kan He helped build an 8000 bbl plant J B Wilson vice president is a major royalty owner in the Desmonda District and a former De Leon merchant Guy Patterson secretary treasurer cashier of Farmers ad Merchants National Bank De Leon G N Wright trustee from Tulsa is director of Exchange National Bank Tulsa and president of Wright Producing and Refining Company with extensive oil and refining experience
An Oklahoma controversy touts Rex Refining Company stock as a lucrative buy. It claims Texas production shifts plus 66 cent per barrel freight savings create high daily profits and strong returns for 100 share holders. The pitch emphasizes non liability, control by trustees, and immediate investment urged with stock at 1.00 per share.
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