Word: piping
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...with 25,000,000 shares of common stock outstanding, and no preferred. Common stockholders of Sinclair and Prairie Oil & Gas would receive one share of the new company's stock for each share now held. Tide Water stockholders were to get eight new shares for ten old, Prairie Pipe Line ten for 14. The terms for Rio Grande were not estimated but at current prices of the "scratch" securities and Rio common it looked as though holders of the latter would be offered ten Commonwealth shares for 25 Rio Grande. Sinclair preferred, of which there were 141,290 shares...
...bearing on cigarets during Depression was illustrated last week by the case of Philip Morris & Co., Ltd. For a long time this company has had the sales rights and, through an affiliated holding company, controlled the production of several prominent cigarets (Marlboro, English Ovals, Dunhill, Players) and pipe tobaccos (Revelation, Barking Dog). For about two years it has turned out a Paul Jones cigaret selling at 10? for a standard package of 20. By not advertising it, the company has saved nearly 5? a package on Paul Jones, kept quality up. Last week more & more retailers were asking for Paul...
From the Hugoton gasfield of Kansas and from the neighboring Amarillo field of the Texas Panhandle to Rockville, Ind. is about 805 miles as the plane flies. In 1928 a young promoter by the name of Frank Preston Parish formed Missouri-Kansas Pipe Line Co. to run a natural gas line over this distance. In June 1930, it became apparent that Mr. Parish needed more funds. Three months later potent Morgan-affiliated Columbia Gas & Electric Corp., in order to avert a rapid descent of the entire gas balloon, and to avert what might have turned out to be unwelcome competition...
Last week tests were still being made on the 24-inch pipe running from the Texas Panhandle field to Chicago, covering 950 miles, expected to be in operation by the end of the year. Backed by the strong Insull interests together with Texas Corp., Cities Service Co., Standard Oil Co. of New Jersey and other big companies, this line is thought to have an auspicious future, especially since the gas will be sold on heat units instead of cubic feet (natural gas has nearly twice as many B. T.U. as manufactured gas). Apparently most sure of its success is Continental...
Despite these culminations of the great pipe dreams of 1929 and early 1930, last week there was by no means the same interest in pipelines. The public seemed inclined to await results before it increases its stakes in the industry. And no more was heard about such wondrous projects as a pipeline to carry grain, another to transport pulverized coal, a third to gush milk into big cities...