Show f i O PHILlIPS PETROLEUM COr CO r 5 51 4 Sinking Fund Gold Debentures Due June 1 1939 This Company Compan is one of the largest producers of crude ude oil 01 and natural gas and the largest S manufacturer of natural gasoline in the United States tates Producing properties are ae located S In seven even states The Company recently purchased control of the lar largest est gas utility in inkt kt Oklahoma S S i These Debentures constitute the only funded debt and are followed b by ca capital ial stock having present market value of ot over S t During the last five years consolidated net earnings s of the compan company compan and its subsidiaries ex except ept Oklahoma Natural Gas Corporation after deducting reserves for depreciation and depletion but before deducting interest and income taxes averaged over ver or orr r S more than 5 54 times Interest requirements On these debentures such net earnings SS were more more than 11 1 times During Durins the past five years net Income after all aU operating S expenses taxes and interest were w re paid during the period amounted to over S of which only slightly over was distributed In cash dividends and over S reinvested in property S Semi-annual Semi sinking fund beginning December 1928 calculated to retire over 50 of ot these debentures by maturity S SS S 1 Price 99 4 to Yield A. A HOGLE CO S BOND DEALERS DELERS AND STOCK BROKERS BROKER S i S Direct Private Wires S 5 S 32 Main Man St. St S S Eccles f Salt Lake City Cit Ogden J S S r r S f |