Show I MINING AND OIL I D. D J J. who vho controls the Montana Montana Mon lIon tana tans property which adjoins the Standard and Iron King ICing holdings of at East Tintic is now busy making preparations for a a. campaign of work wont which will be started In the near future and continue throughout the tho year ear says the Eureka Reporter A new shaft Is to be sunk at a most del desirable place on on the large tract which this company owns Mr Is general manager an am and president of ot the TIntIc Standard A A. C C. superintendent of the tl Little May mine located in l south Tin tic tlc that states lead values are now be beIng being belog be- be ing log found above the water nater r level evel ev l. l Considerable Is rep reported from freon tho the camp of ot Nev Ney Material is b being hauled into the camp for tor the Orleans property a new new strike in the Victory i ILl causing much excitement and the Lassen Gold Mining company has taken over t the Nevada Colorado d and Selma i claims l s with the dl intention t lt of f de developing developing de- de eloping them The Western It Is stated stated stated stat stat- ed edIs Is Is getting water ater ready to operate its Hs mill Claims are Ial said eald to be at a a. premium pre pre- In in the district and locators are asking big prices e to inquiring purchasers Utah OH Refining company marketed an average of of barrels a a. day for two weeks from the Hughes gusher completed completed com com- last tall fall In Lost Soldier field On 1 section 26 2 the company Is cleanIng cleanIng cleaning clean- clean Ing out Its Ils No 1 well welt and Ing at 1750 1760 feet teet In Its No 2 well 1 In the Salt Creek field the company ha has haA finished cleaning out Its No A 26 section 40 30 at 2011 feet The company's Blac Black Moun Mountain lain test section 36 43 Hot SprIngs county Wyo yo Is at 2124 feet teet The Sinclair Consolidated Oil corpora corpora- tion In its annual report for tor the year ended December 31 33 1022 1522 shows show net Income in income income In- In come of available for tor interI inter inter- interest f est eat t charges etc compared with 10 forthe year ear 1921 1021 Net Income available for tor surplus and I reserves In 1922 was comp compared com corn p pared red with fI l 1567 Jn ln 1021 1921 Surplus Vas was 10 compared with a id i'd- of 76 for tor the previous year It Is stated hat the above earnings do not In Include lude undistributed surplus earnings of foreign or domestic companies com corn panics such as Sinclair Pipe Line company company com corn pany Sinclair Crude Oil Purchasing company com corn pany distributing companies In France and Belgium and other companies 60 50 per cent or less of the capital stock of ot which which Is owned by the corporation The annual statement of the Standard Oil company of California for tor the year 1922 IOU gives give net profits for tor the year after deducting depreciation depletion Interest and estimated taxes of or ci 10 1031 31 per cent on combine Issued capItal cap cap- Ital Hal Haland and tind book boole surplus of as of ot December 31 1922 and 13 1319 10 per percent percent percent cent on the Issued capital WhIle the Improvement In lI general business conditions during the year was reflected in a greater volume of sales thiS s was offset somewhat by a decline in the value of ot crude oil all due to surplus sur sur- plus plus' production resulting In a decrease In th the thy net profits for or the tho year as compared compared com coot pared with the previous year ear Tho Th annual report of at the Associated Oil company for the year 1922 1322 Indicates that the company la is In a good financial l position W although O net nt profits profile after r de de- de 8 was only y a little better et than one halt that for tor the year 1921 1021 Net profit for tor the year ear after alter all deductions deduction stood at 4 equal to 10 64 a ashare ashare ashare share on the stock outstanding as against earned In 1021 1921 equal to 20 2062 2052 62 a share Part of this decrease Is III explainable In that profits for tor the year HI ini 1 Included the unusual Item of 2695 2 being a capital dividend end of the Associated Pipe Line company Earnings for 1922 1022 were also adversely affected by successive declines In prices of ot oil all the base buo price In the field failing falling for tor oil of less than 18 degrees gravity from to 60 cents per barrel barrei i Refined oh oil all sales showed an Increase In iii volume of 22 per er cent Taxes were decreased bond Interest decreased de de- crea creased ed Additions to refining and distributing ent totaled over for tor the 10 1922 1022 year |