Ogden Standard-Examiner | 1924-03-03 | Page 8 | Sinclair Co. Holdings Told

I SINCLAIR Cog CO HOLDINGS TOLD Immense Pipe ipe Line to Carry Supply of Petroleum MW IW Y YORK Maich Ch 3 HaIry 3 1 I Sinclair chief owner r Of o the Mammoth Oil company compan whose hoo I leases of the Teapot Done Dome oil rca rca- ren er from th the go I 11 I being In today issued a statement to stockholders rs of the Sinclair Consolidated C r Oil 01 tIle the r relationship and nd real responsibility ot of other othor oth r corn con companies ponies with Ith WhIch hO he h Is A 1 connected with regard re ard to the thO th pi ph The Th Sinclair Consolidated Oil corporation ot of which Mr 11 SInclair It I chairman owns on slightly moro flora than 25 per cent of o th the tho stock of the Mammoth company h he said with Ith a prent market value of pro ap ap- ap This l I Is the equivalent he explained ot of II a shale haie e on the th total number or of Sinclair Con Consolidated d Oil corpora corporA- corporAtion corporation tion ion common es out outstanding The Tho Consolidated corporation h he I added had not loaned nor nor- obligated obligated obIl- obIl gated Itself ti t loan any on money mone to the Mammoth The Tho Sinclair company Mr Sinclair continued has ha almost completed a storage Installation for the nivy V at Portsmouth N NIi Ii If a a total cot cost ot of otless oes less than which cost I ito Isto to be liquidated by proceeds from ro ally alty oil accruing to the eov gov gov- gov through I Oil company operations Pipe line lino extensions un undertaken to transport oil from the go ern ment ment lOsses lease lea eastward he saId would also be available 8 to st acne e fields n which ma be de eloped not only In W online but also ais In I Montana Colorado Nebraska and the Dakotas Halt Half of ot th stock In lr Pip Pipe Line company CO an is Ie I 0 ned by the ted com corn company company pany and anI halt half to l the St Oil Company Compan of Indiana 11 lie said The Sinclair Crude Oil PurchasIng Purchasing saidI I ing also jointly owned by bythe bythe the Consolidated Conso anti and the Indiana Oil his hs h ha a contract to toI I purchase all aU the KOV O eminent iov 10 0 olty I oil cit in the tho th Soil S Creek Creel field or of but that contract t ie asserted is not connected In any iy y nth the Mammoth 2 Oil com corn company pany