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

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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