The story of Pittsburgh: Petroleum and natural gas : in two parts, part two

Petroleum and natural gas : in two parts, part two (Vol. 1, nr. 11)

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Multivolume work

Identifikator:: 1831622599

Document type:: Multivolume work

Title:: The story of Pittsburgh

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1919-1930

Collection:: Economics Books

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Volume

Identifikator:: 1831623528

URN:: urn:nbn:de:zbw-retromon-239829

Document type:: Volume

Title:: Petroleum and natural gas : in two parts, part two

Volume count:: Vol. 1, nr. 11

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1924

Scope:: [ca. 38] Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Union Natural Gas Corporation

Collection:: Economics Books

Athens Gas Light and Electric Co., Buckeye Gas Co., Logan Natural Gas and Fuel Co., Manufacturers Gas Co., Newark Natural Gas and Fuel Co., and Warren and Chautauqua Gas Co. In September, 1902, the stock was increased to $8,000,- 000 and one-half of the stock of the Reserve Gas Co. and the Connecting Gas Co. was secured. The addition of $1,000,000 to the capital in June, 1903. was used for the acquisition of the Citizens Gas Light and Coke Co., Fremont Gas, Electric Light and Power Co., Marion Gas Co., Athens Oil and Gas Co., and the Newark Gas Light and Coke Co. The Athens Oil and Gas Co. was merged with the Athens Gas Light and Electric Co., and the Newark Gas Light & Coke was merged into the Neward Natural Gas and Fuel Co., in 1916. The Warren & Chautauqua Gas Co., was merged with the Mfrs. Gas Co., in April, 1922. The Athens Gas Light and Electric Co., Bellevue Gas Co., Buckeye Gas Co., Citi- zens Gas and Electric Co., Citizens Gas Light and Coke Co., Fremont Gas, Electric Light and Power Co., The Logan Nat. Gas and Fuel Co., Marion Gas Co., and the Newark Natural Gas and Fuel Co., were merged into a corporation under the name of The Logan Gas Co. which also owns and operates the Preston Oil Co., Columbus. Ohio. On November 28, 1922, the capital was increased to $20,000,000 and the par value changed from $100 to $25. A stock dividend of 759, was paid in December, 1922. Gross sarnings of the corporation in 1923 were $8,876,051, and net sarnings were $4.250.635. The stock pays 89 per annum. The report of the corporation for 1923 said: Since the last annual report your company, through its underlying com- panies, has acquired 250,973.11 acres of new oil and gas leases and surrendered 935,053.00 acres that have proven unpro- ductive, and now holds 1,035,258.45 acres. In addition to the above, your company owns a one-half interest in 55,456.96 acres in West Virginia, through its ownership of stock in the Reserve Gas Company. During the year your company drilled 155 deep wells, of which 12 were oil wells, 97 were gas wells, and 46 were unproductive; 27 shallow wells, of which 7 were oil wells, 16 were gas wells, and 4 were unproductive.

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