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Show UTAH METPURCHASE CALIPORlACeCE Montana-Wyoming Oil Co, Is Congratulated Upon New Acquisition. Officials of the Montana-'Wyoming Oil company of Utah have been warmly warm-ly congratulated by stockholders n the company, as also many friend's, for their purchase of producing oil acreage in California and the placing of the company among the oil producers of the United States. This purchase is in the heart of the greatest oil-producing district in the world, more than 1900 wells pouring out the golden fluid in the district, the Midway-Sunset field, in tho Golden state. Among those who are in the company are such i e present ative citizens as W. S. McCornick, ex-Governor Spry, Judge Marioneaux, Noble Warrum, D. L. Wert-heimer,- Joseph Lippman and George J. Strickley. They were among thc first to invade the Wyoming fields and they are the first Utahns to go into the California Cali-fornia field. In the district in which the holdings of the company are some ; wells flowing 6000 barels per day, while the daily output from the district is 100,000 barrels per day. Their acreage ac-reage is forty acres and on this they have two producing wells with an output out-put of 200 barrels per day and are assured as-sured by experts in the oil world that the tract is capable of sustaining ten more wells. The equipment, which was included in thc purchase is all modern oil machinery and anJianres and also includes store-ape store-ape tanks and vupe line connections to care for the product. Sec ret a rv nnd Treasurer A . "R. Tar-stensen Tar-stensen will probnbly lenve the coming week for Xew York, where he will arrange ar-range to underwrite rart of tf treas-urv treas-urv stock and withdraw the treasury stoi-k from the market- The company is in excellent financinl condition and will proceed to drill additional wells as also lo inaugurate development work on thc holdings whih it contto' in both TYyo-minc TYyo-minc and Montana fields and which, I like the California property, nre in proven fields. Gunnison vallcv will hnve n beet suear plant that will be one of the nm?t modern in the country whieh will he eret-ted in time to rare for the crop of 101s. This information wa i rr parted bv thA GnnniFou Yallev Snar romrany officials in this city veterdav, ailviees ha vino- just been received that rer-re- sentatives of the com pan v who are now in the northwest had purchased th factor fac-tor v at Wn vorlv. Washington and that the s:une would be removed to the Gnn-j Gnn-j ni-'nn valley. 1 Former owners of the Waverlv plant. I experienced beet sugar men, after per- son al investigation of conditions in the Gunnison valiev and the favorable location loca-tion for the erection of a factory, decided decid-ed to join the local people and have subscribed for a large block of stock in the company. Beet sugar experts of national reputation repu-tation were sent to Waverly by the Gunnison valley company iud the report re-port which they submitted showed that the purchase would be a good one and that with limited additional equipment and the rebuilding of the plant at Gunnison Gun-nison with suitable buildings it would be as near a perfect factory as it is possible to erect. Fully 30 per cent was saved by the company in the purchase over the cost of an entirely new factory, the securing of which might have been, under present pres-ent war conditions, fraught with much uncertainty in time for the handling of the crop of 1918. Practically all arrangements ar-rangements have been perfected for the supervision of construction, management manage-ment of the factory and provision tor beet seed. Among the stockholders are most of the farmers who have signed up over 6000 acres for seven years, 191S-1925. These farmers are all within a six-mile wagon haul of the site of the proposed factory, which is a decided advantage over a railway haul. The plant which has been furnished was only operated for about twenty-two months and was compelled to cease operations op-erations owing to the fact that irrigation irriga-tion in eastern Washington is unknown and sugar beets cannot be properly raiscu without careful irrigation. Of the lh'o subscribers to the preferred stock of the company, representing approximately ap-proximately $300,000 is included many of the most prominent farmers and business men of Utah and the mountain country, while in the directory which was recently increased from seven to eleven members are some of the best known financiers of central Utah. j |