Show COMPANY FORMED TO DEAL IN OIL production ROYALTIES A group of local bankers appear among the incorporators of the united states royalties company a concern which has just been incorporated here to deal in royalties in oil production specializing in utah oil fields the incorporators besides B C morrison president an oil operator from casper wyoming who has been securing utah oil leases for the past year and a half are leo F arthur davies and J A malia who are with the national copper bank a and nd W IF earls of the national bank of the republic lie according to mr morrison the company holds royalty rights ranging from two and a half to seven and a half per cent on a number of permits in the san rafael circle cliffs and woodside structures on which drilling deals have already been made with financially responsible companies the company is capitalized for which is divided into shares of stock with a par value of 25 cents a share permission to dispose of worth of the stock at par without paying any commission on sale has been granted by the state securities commission mr morrison said the application was granted following the showing by officials of the company that all of the royalty rights so far acquired by the company were purchased for shares or one fourth of the companas comp anys capital stock and that shares remain in the treasury to finance operations the company has opened offices on the top floor of the clift building in the offices formerly occupied by the matador oil company which is one of the dutch shell subsidiaries si and is having a large geological and contour map of western states made that will show locations and approximate depths of wells drilling in various fields besides area of proved structures and volume of production fro from m wells according to mr morrison this map will be available to the public mr morrison said and will be prepared by competent geologists mr morrison said W R calvert well known salt lake oil geologist will make the companas comp anys geological investigations in utah wyoming and montana |