The Petroleum Journal from Topeka, Kansas • 3

THE PETROLEUM JOURNAL 3 BOOM IN OIL COMPANIES According to the latest statistics, there were 86 new oil companies formed during January, with an aggregate authorized capitalization of $60,825,000. This is the largest investment in new oil companies in any one month since last April. The majority of the new companies, however, were formed for stock selling propositions, pure and simple. MAGNOLIA BUYS FOWLER PROPERTIES The Magnolia Petroleum Company has purchased the Fowler Oil properties in the new Burkburnett, Texas, pool for $1,800,000. THETA OIL BUYS AT NEWTON The Theta Oil Company has purchased from Galli-gher and associates the lease on 160 acres in the northeast quarter of 8-23-2, near the Big Harvey test.

The reported consideration was $100 per acre. SHORTESS IN TEXAS NOW For the past two months, C. J. Shortess, who formerly was in charge of the Empire Gas Fuel Companys scouting department at Wichita, has been assisting R. B.

Lloyd, chief scout for the Empire at Bartlesville. Shortess is now starting on an extended trip through the Texas fields. A NEW SAND IN LINN COUNTY There is much activity in the oil industry in Linn County. Near Parker there are twenty-five producing wells and four good gas wells. One oil company is selling $5,000 worth of oil a month.

In the vicinity of Blue Mound there are several new wells, one well having been brought in at a depth of 200 feet below the so-called Mississippi lime, thereby finding a new sand. James L. Gallagher, of Wichita, Kansas, the most extensive independent dealer in oil well supplies in the oil fields of Kansas, Oklahoma and Texas. Jim Gallagher has made an enviable record throughout the oil fraternity by the ability, which he has displayed on numerous occasions, in expediting the delivery of casing and various other oil well supplies on hurry up orders. Mr.

Gallagher handles oil tanks, casing, drilling equipment and all other oil well supplies. MONTGOMERY HONORED BLISS REFINERY NOT SOLD Clinton H. Montgomery, certified public accountant of Wichita, Kansas, has been appointed a member of the State Board of Examiners for Certified Public Accountants on recommendation of Chancellor Strong of the University of Kansas. At the first meeting of the board, held last week, Mr. Montgomery was elected president.

The next state examination for certified public accountants will be held at the University of Kansas, May 15 and 16. To correct an erroneous report that has been widespread through the newspapers, it is announced that the Bliss Refinery at Augusta, has not been sold to Charles W. Bliss. Mr. Bliss, who was president of the Oil Refining corporation, has sold his stock to L.

E. Francis of Des Moines, and Mr. Francis was elected president at the last meeting. Mr. Francis, who is an attorney served two terms as senator from Iowa, and at present is a member of the firm of Cossons Francis, attorneys.

WELL BLEW OFF ITS CAP Oil field operators are interested in a report from the Pine Island district to the effect that the Banks Oil Companys well located on the Spell lease, which was brought in last November but was capped because of the pipe line situation and no available storage, has blown off its cap, resulting in a flow of oil estimated at 1000 barrels a day. Due apparently to heavy gas pressure, the well had broken out on other occasions since it was capped. STANDARD REFINERY AT TOLEDO, OHIO According to a late report, an announcement by James D. Frost, president of the Standard Oil Company of Ohio, says that concern will shortly begin construction of an immense refinery at Toledo. There have been rumors that the Standard would build an immense refinery there but they lacked confirmation.

The original investment would amount to five million it is said and eventually it is planned to make developments amounting to twenty-five million dollars. The Thomas Investment Company of Wichita has moved from its former offices at 402 Bitting Building into larger quarters on the ground floor of the same building. Its address is now 105 North Market Street. The new offices have been equipped in the most up-to-date manner and will enable the company to handle all bond and stock transactions in an efficient and capable way. The company makes a specialty of oil stock, Liberty bonds and royalties.

T. M. Thomas is manager. SUES FOR A LARGE SUM PRIZE FIGHTS AND OIL Jere Slater, of Sapulpa, has begun an action in the District Court for $50,000 against Frank Billingslea and E. R.

Perry. Mr. Slater sues as administrator of the estate of his brother, A. L. Slater, a driller, who was killed when an oil derrick collapsed in Creek County, this state, some time ago.

The man was killed under the falling timbers and the suit is brought for the benefit of his heirs, consisting of four brothers, Merrill Slater, Electra, Jere Slater, Sapulpa; Joe Slater, in the United States army; Frank Slater, Sapulpa, and a sister, Mrs. Lula Rankin, Oil City, Pa. Tex Rickard is in the oil game. He has grabbed off acreage in Eastland and Stephens Counties, and organized a $600,000 oil company, named after himself. Frank C.

Armstrong is its president. Rickard is busy with fight-promotion duties, as the world already knows, but he has had time, on the side, to exploit the oil proposition and last week acted as guide, hereabouts, for a party of New York capitalists. He has not yet decided where to put on the Willard-Dempsey contest, but Idaho and Nevada seem to have the preference in tentative prospects..