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Newspaper
Comanche Chief
Location
Comanche, Texas, United States of America
Date
Sep 12, 1919
Page
13
The Rex Refining Company of De Leon Texas presents an investment opportunity promising dividends with minimal risk. The firm owns a debt free 3000 barrel refinery, six 10000 gallon and five 8000 gallon railroad tank cars, full electric plant, a 16 acre site near the railroad, and substantial equipment already in place ready for operation.
Rex Refining Company states it owns a complete refinery being moved from Cherryville Kansas to De Leon and reassembled. It plans to offer limited stock to the public to finance a pipeline, the unfinanced part of the plant, and will proceed with construction regardless of stock sales.
We propose to erect a 3000 barrel refinery and start operations within 60 days. A pipeline from the o& yields to De Leon will be exclusive to Rex Refining Company shareholders. The plant is over half completed and pipeline arrangements are in place. We have proposals for our entire gasoline output and contracts for 3000 barrels surplus crude to be run through our line. Pipe line charges of 25 cents per barrel offer a daily profit of 750 dollars from surplus capacity, in addition to refinery profits.
The document argues the refinery yields high profits from Desdemona Crude Oil with lab-tested estimates. It details product splits, costs, and a projected daily output of 3,000 barrels with a net profit per barrel and yearly totals. It claims dividends exceeding sixty percent, with daily and annual revenue projections.
J D Morse president long Oklahoma resident lawyer with Morse Standeven Willingham ties then oil refining roles at Home Refining, Wright Refinery and Rex Refining. J B Wilson vice president major royalty owner from Desdemona De Leon. Gu y Patterson secretary treasurer banker. G N Wright trustee Tulsa banker and oil refinery veteran.
An advertisement promotes Rex Refining Company stock highlighting high freight savings from Texas and Louisiana crude, projected profits of $2.16 per barrel, and a $1.944 million annual potential at 300 days. It claims non assesable shares, pipeline ownership for Rex shareholders, and a quick-investment appeal with $1.00 per share pricing.
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