The Barnwell people. (Barnwell, S.C.) 1884-1925, March 18, 1920, Image 6
rM>« TWt tTAT* rnt 1‘MIIU * C. MKOAt. MARCH u. im
Noco Petroleum Company
Declares 5 per cent Quarterly Dividend
First Dividend Payable May 15th
To All Stockholders of Record as of
April 30th, 1920
COMPANY RECENTLY ORGANIZED, ALREADY HAS MADE A FINE SHOWING--
WORK BEGUN ON NEW PIPE LINE. t
Directors of the Noco Petroleum Company have just announced that a dividend o£f*ve per cent,
will be paid May 15 to all stockholders of record of April 30 * ,
Dividends will be paid quarterly in the future, May, August, November and February’, and of
ficers of the company said this week they expect an early advance in Noco stock as a result.
The Noco company was only organized recently, but is showing much activity already. Its
stockholders largely are National Oil Company stockholders, the same men who are managing the
National being in charge of the Noco’s affairs. The company was organized princijally to con
struct and operate pipe lines, storage tanks, etc., and it is now announced the company intends to
begin work at once on a new pipe line frpm theA-1 field in Butler county, Kans., to Atlanta,
Kans. The Noco lines at Duval, Okla., it is stated, showed handsome profits for January’.
Tb* Noco company offktaU nlno nnnouiKO thU wwk tho P«nrh*A* of »n ».*hty MVRlNM
OkmulftR.county. Okl*.. a tract with on* oil wdl alrrady maktn* 300 Urn-., .4 .!*> and Hh
••cond well drilling. * Al
The company la capitalized at three million dollars, and begins its opt rations ui i o fa
and a half million dollars in the treasury*. , , ■ . — a«uk
The manner in which the Noco company stock has been absorbed by P u r c *) aH ? r j l f
the National Oil affairs is Uken as a striking tributfe to the management m the latter company o
which C. J. Webster is president, E. R. Wilson, vice-president, and O. W. Dickerson, secretary.
Oil and Gas News, Feb. 12th, 1920.
. Below are copies of Telegrams exchanged between National Reserve Bank, Kansas ^ t> *’
and First National Bank, Barnwell, S. C. The same reply was also sent to Bank of Western Laro-
lina, Barnwell, S. C. ^ ^
COPY. " Barnwell, S.,C., March 11th, 1920.
To National Reserve Bank, \ :
Kansas City, Mo. r . ._
Wife our Expense Vour opinion Noco Petroleum and its officers. v , _ .
- (Signed) First National Bank,
- 4 , . Barnwell, S. C.
KY KANSAS CITY MO 1050 AM MCH 11 1920
COPY.
RECEIVED AT 32 S WR 22 COLLECT
FIRST NATIONAL BANK
BARNWELL S C
NOCO PETROLEUM CO ACCOUNT MOST SATISFACTORY HERE OFFICERS ABOVE CO
WELL KNOWN TO US WE CONSIDER THEM THOROUGHLY CAPABLE AND RESPON
SIBLE
NATIONAL RESERVE BANK
' - ’ ' * 212PM
ANNOUNCING THE ORGANIZATION OK THE
NOCO I'KTKOI.Et’M COMPANY.
R \NSAS CITY, MIS.HOI Rl.
• NOYKMHKR mil. 1*19.
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Summer Brother* Company
WHOLESALE AND RETAIL DEALERS IN
Hardware and Groceries—Meat, Flour,
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company Ravine tR** farilitir* for the proenpt woteavnl and atormcr of oil is
able to purtRaw* tR.*i»aa«la of harn*t» of tin* oil at great I) re«lurr4 price,
from «mall ojieratoni aRo do not Rave the facilities or ei|Uipinent an«l are,
therefore, compelled to aell their oil at low price*.
It mil be the purpose of the NOCO to quickly equip itself for the handling
of large quantities of this production, and on which they expect to realize
large profits. It is not the purpose* of the company to enter into the produc
ing of the oil businena to any great extent for the present, but will confine its
operations largely to the purchase, transportation and storage end of the
business. However, some leases will be acquired in likely territory where
the prospect for the o|H*ninjr up of new fields are beat, and in territories
which it proposes to reach w r ith its pipe lines.
DIVIDENDS.
As the company is young and starting off wholly without assets, except
money paid in by stockholders for its stock, it is impossible to set any*date on
which the company w ill begin the payment of dividends, but it is the 'purpose
of the company’s directors to place it on a dividend basis just as quickly as its
earnings will justify.
The company’s plans having been thoroughly and completely worked out, it
w'ill not be difficult to act quickly on many of the plans heretofore mentioned,
and if those plans can be carried out as promptly as is expected, it is reason
able to assume that the company may be placed on a dividend paying basis
at no far distant date
XJAQ par tiat
‘ r -411
-BUSINESS ORGANIZATION.
The stock of the NOCO PETROLEUM COMPANY can not be classed as a
speculation as is usually the case with most^new companies. It begins with
a large cash capital and w r itho6t obligations, and the larger portion of its capi
tal will be immediately invested in raw material such as casing, tank ears,
pipe and pipe lines, storage tanks, etc., which material’will be bought at the
lowest wholesale prices direct from the mills and manufacturers, and when
Thm. by cMurtifi* a *20 prr cent <neHiA*d And opr rating
a 5 prr cent, drprvciatk*! charge (rum II.UM.OUO, we
hnve left $891,000, net prr year ur $74,250 per mile per yeAr. net.
In following out the name data. I herewith aubmtt you figure*
for an 8-inch line .’UN) mile* in length, carry ing capacity 26.400
Imrreli* per day of 24 hour*, with a carry ing charge of 60 cent*
per barrel.
26.400 barrel* at 60 cent* $ 15.840 per day
$15,840 for 50 day* $ 475.200 per month
$475,200 for 12 iponths $5,702,400 per year, gros*
Deducting from the above amount, $5,702,400, a 2 per cent,
overhead and operating charge and a 5 per cent depreciation
charge, we have a net profit of $4,276,600 per year, or $14,256 per
year per mile, net.
The co*t of constructing the above mentioned lines, together
with pumping stations situated every 50 miles apart, will vary
from $15,000 to $20,000 a mile. “
To further facilitate the handling of the production carried by
this pipe line, it will be necessary’ for the company to own and
operate a fleet of from 100 to 500 tank cars, having a carrying
capacity of from 180 to 300 barrels each day in the year. The
cars so operated by this company, I find, upon investigation, will
travel 25 miles per day under ordinary freight movement. The
railroad companies will pay to the owners of these cars one cent
per mile for every mile traveled, both loaded and empty. The ap
proximate cost of these tank cars is 3,000 per car. I find that
cost of maintenance, repairs, etc., average approximately $50 per
1'»*?1mOUAjU ltJRi4tt»ULV4l 4 A kU V k M
7i!cTm*"*S^mgTAW!99iY l jr“ , YwY i A^ , ‘
mi»iwT if. 1
IMMEDIATE return to
ith UandiriA. combining
TRANSPORTATION.
It*m an eur*ptioiiAl opportunity *n«! An
t ht* mo ft rt»n*€r\Ative invtuion 1 of S*
the four gn»*te*t element* of ettrfgng
by PIPE LINKS and RAIL REFINING AND STORING. And
the PRODUCTION OF Oil. from it* OWN WELLS, a* indicated
by the following clipping:
“The NOCO PETROLEUM COMPANY, subsidiary of the
NATIONAL OIL COMPANY, of Kansas City. Mo., and Tul&a.
Oklahoma, has purchased from Roy R. Reynolds and others of
Okmulgee, the west half of the northwest quarter of section 1-13-
11, in the southern part of the Youngstown pool, with ONE well
just completed flowing 300 barrels a day and two drilling wells.
The consideration was $300,000.00.”—The Daily Oklahoman,
(Friday, February’ 20th, 1920.) v ,
THU NOCO PETROLEUM COMPANY HAS BEEN IS-
“r,;i vear per car. The profit to be derived from operating these cars
~ ■ • ■ •. •« « » • if j* 1 wxn « 4 «w»4 4 •»4 4 Lwa r-xe* rv «? ^\Ti»rxirT/r 4 rt rx Vtocj 4 rwx rvx rxo fX u
.stock will, threfnre, Ik* burked by cash and tangible assets which aft* of a
known and certain value.
LIMITED AMOUNT OF STOCK FOR SALE.
*** 4 *^-»^- > ■» —I.. nnu-L-if. i-Mri ^ tm! tl
the director* h*v»- drcidfd to offer to the public a limited amount of it* stork
for subscription at pnee uf ll.'iO |»er »Rjm*. reserxinir the r>tfht to withdraw
the name or to return any aubsrnption* offered
UOM LI SION.
KememUr th>- N«N O PETRtlLEUM t’OMPANY atarU al.* with a clean
•hret. It ha* aa pr<u4aaC*u*R atark. aa4 rack offirer. director and atorkkolder
ore paj.ftf rack far tkrtr start, x*Manny Jke fu*are atarAAakfer af tArtr eaa-
fairraTi ia thr fa*are ewaapaay, aa* a# a iAoraa#h aad Awaiarsalike aeyaai-
saiaaa *a# a M#aa#a ieai ta aM-
SUED A PERMIT TO'SELL ITS STOCK IE SOUTH CARO
LINA BY THE INSURANCE DEPARTMENT OF THIS
STATE.
lies in the fact that the company owning theirs has the means
by which to transport its own product from^Wf refinery’ to the
place of marketing. ,
— .,n. try,.,-.. uhicl] ynu desire. I will be glad to fur
nish same * 1 • . "" . - ,l ' I
7 (Signet!) W. P. TWIST.
Consulting Engineer.
’ " Mr s G H
New Kerry. S t
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