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Newspaper
Oxford Eagle
Location
Oxford, Mississippi, United States of America
Date
Sep 25, 1919
Page
12
In order to complete a pipeline and provide operating capital, the company offers a limited stock issue to the public. They prefer equity to debt, aiming to pay dividends to stockholders rather than service bonds, and discuss assets including tank cars and railroad tracks.
The firm vows to distribute surplus profits as dividends at the end of every three months once the plant starts operating. The plan emphasizes regular, quarterly returns to shareholders following commercial start.
The prospectus shows profits based on facts from earnings of similar plants and tests by Superintendent E. M. Corah from Desdemona crude oil. The proposition offers substantial margin for an acceptable return if boiled down and considered carefully.
Texas oil production now exceeds Texas refinery capacity as Oklahoma and other states ship crude in. Shipping costs at 66 cents per barrel are saved by Texas refineries, totaling about 1,980 dollars daily for a 3,000 barrel plant and roughly 594,000 dollars yearly, equating to 169 percent of Rex Refining Company capital stock of 350,000 dollars.
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