OCR Text |
Show BOUGHT BY A SYNDICATE. " Santa Barbara, Cal., July 30. A deal has just been consummated in New York whereby practically all of the oil producing pro-ducing interests, of Summerland, located on the seashore about four miles south of this city, have been consolidated and the product will hereafter be handled by a syndicate of eastern capitalists, who have subscribed $700,000 for development purposes. pur-poses. The consolidated property consists of 17,875 acres o oil land, with . a water frontage. The combined interests represent repre-sent a capitalization of $2,000,000. It is proposed to erect a refinery and enter the Hawaiian, New Zealand and other foreign markets. |