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Show ARROWHEAD WILL STAjTlLLl Chas. D. Alsop, general manager for the Arrowhead Petroleum Corporation, Corpora-tion, has just returned" from a two weeks trip to Salt Lake City and Og-den, Og-den, Utah, where he obtained a permit per-mit to sell the securities of the Arrowhead Ar-rowhead Petroleum Corporation. The permit was granted July 26th, subject to the examination by Mr. Hicks, sec-retaiy sec-retaiy of the Utah Securities Commission. Commis-sion. Mr. Hicks drrived in St. George on Monday, August 1 and spent two days going over the property of the corporation corpor-ation and was well please 1 with the holdings of the corporation from a geological standpoint and was convinced con-vinced of the possibilities of a large oil field being developed here. The Arrowhead Petroleum Corporation Corpora-tion has made a contract with the Colonial Co-lonial Building and Loan Co. to bond the stock of the Arrowhead. For every ev-ery share of stock issued the Colonial Company will issue a first mortgage bond for the face value of the stock, which Ln.d will be plaoid in escrow with the Dixie Stockgrowers Bark, with instruction to tun ever to the stockholders of the Arrowhead if it does not pay back to the investor 100 per cent in 10 years. In other words the corporation must pay 10 per cent a year on the investment. The Arrowhead is the first company in the state in which investors are absolutely ab-solutely insured against taking a loss. In other words it gives one opportunity to take a gamble with a chance of making many times the amount of his original investment in a very short time if the corporation strikes oil and brings in production. If the corporation corpora-tion should not be successful in bringing bring-ing in production, the investor gets the full amount of his investment back as that is positively insured by the first mortgage bonds put in escrow es-crow by the Colonial Building and Loan Company with the Dixie Stock-growers Stock-growers bank. Mr. Alsop outlined the operations of the corporation as follows: The corporation cor-poration will make a test for shallow production with a portable rig on what is known locally as the Bee-hive dome. The dome is on a permit that the corporation secured from Mrs. Julia Graham of St. George, and two other locations which they now hold and has every indication of shallow production. They are also putting in an order for a standard rig that will be placed on the Punch Bowl or Bloomington Dome. It has not been fully decided yet which structure will be drilled first but the corporation will De ablj financed to put down several sev-eral wells. Five hundred thousand dollars is to be turned over to the corporation over a period of twelve months. This corporation has had some of the best known geologists in the west go over the properties and each one has turned in a very favorable report. |