the Farmers Bank Building, Pittsburgh. Its capital is 
$500,000, of which $320,000 is outstanding, and par is $1. 
Gross earnings in 1923 were $1,602,314, and net earnings 
were $490,619. Dividends of 1009, or $1 per share, were 
paid July, 1912, Feb., May and Sept., 1918, and Jan., 1914. 
June and Nov., 1914, and April, Oct. and Dec., 1915, and 
April, Aug. and Dec., 1916, and June, Oct. and Dec., 1917 
and May and Dec., 1918, and Jan., 1923, and June. 1923, 
paid 509, or 50c¢ per share. 
After the United Fuel Gas Co. purchased the gas property 
of the United States Gas Co. the Ohio Fuel Oil Co. acquired 
all of the oil property and oil rights in leases owned by the 
United Fuel Gas Co. The shares of the Ohio Fuel Oil Co. in 
October, 1909, were distributed to stockholders of the Ohio 
Fuel Supply Co., share for share, as a special dividend, re- 
quiring the issuing of 820,000 shares, leaving 180,000 shares 
in the treasury. 
Officers and directors follow: Pres’t., Geo. W. Crawford : 
Vice-Prest’s., F. W. Crawford, L. B. Denning; Sec’y and 
Treas., J. B. Wikoff; Ass’t Sec’y and Ass’t Treas., F. I. Falk 
and P. A. Balliet. Directors, J. B. Crawford, L. B. Denning, 
M. C. Treat, T. B. Gregory, Geo. W. Crawford, F. W. 
Crawford, L. E. Mallory, Jr. 
ARKANSAS NATURAL GAS COMPANY 
The general offices of the Arkansas Natural Gas Company 
are in the Benedum-Trees Building, Pittsburgh. The com- 
pany owns and operates property in Arkansas, Kansas, Ken- 
tucky, Illinois, Louisiana, Texas, New Mexico, Oklahoma, 
West Virginia, Ohio, Montana and Wyoming, as well as in 
Pennsylvania. The company also owns a joint interest with 
the Transcontinental Oil Company, in 629.221 acres in the 
southern part of Louisiana. 
The annual report for 1923, contained these statements: 
The drilling campaign for the year of 1923 conducted by your 
Company and its subsidiary, the Arkansas Fuel Oil Com- 
pany, resulted in 110 wells drilled to completion, of which 
number 48 were productive of oil, 38 productive of gas. and