The Alto Herald (Alto, Tex.), Vol. 17, No. 5, Ed. 1 Thursday, January 18, 1917 Page: 2 of 6
This newspaper is part of the collection entitled: The Alto Herald and was provided to The Portal to Texas History by the Stella Hill Memorial Library.
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TqJJk People of Texas and tMm%islalors Elect:
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•* This fs a paid advertisement intend*
'!• /aflon of oil companies should be amended „
;; i vi the several branches of this single bush!
The Texas Company is engaged in pj
fless owns and operates a system of pipe Hnl
i riously by the inadequacy of its charter powJ
And as the law now stands it can obtain this 1
state, thus becoming a corporation of that sta|
Heretofore the stockholders, by a sep
necessary crude supplies; and but for this «.
when the organization wm small and operatl
and with varying and shifting stock ownership
now manufacturing in Texas and marketing
Texas crude oil. It now has more than 10,0
proximately 2,000 employees.
The competitors of this company are c
tors in Texas operate as limited partnerships
> an individual might pursue, the only restrict™
themselves. Another principal competitor is
another state, and owns the stock of three Tex.
and marketing, and a third in operating pipe lit
organization which covers all branches of the I
The statement just made is not in critL
Moreover, as applied to t! a oil business it Jl U,
<n practically every state of the Union, excipt
tluce oil.
,n reasons why the present law of Texas relating to ft# ll\(5TJW?
allow Texas corporations like those of other states to pursue al
I
n?, refining: and marketing petroleum, and as a part of its
is incorporated under the laws of Texas and is handicapped sel
t has no direct power to prospect for and produce crude olwj
l only by reorganizing and taking out a charter in some othef
[teasing to be a corporation of Texas.
(during organization, have borne the burden of obtaining tl^
lent the company could not have succeeded. This was w orkabla
lire on a narrow scale. But with the growth of the business
I become subject to too many complications. The company Is
Irly every country in the world the various finished products of
ployees, and its stockholder# number about 4,000, including ap«
I in all branches of the business. Two of its principal competf-
| stock associations and therefore may pursue any business that
Isuch stipulations as the shareholders see fit to make among
ed as a holding company, incorporated under the laws of
•orations, one engaged in producing oil, another in ref Mng
i that on the whole the stockholders have the benefit of an
lie plan of inclndir^k all branches of a single business is logical,
pi in all of the oil pHtduclng .states and in foreign countries.
P", a corporations?
has the charter power to pro-
•>tV
6n MI branches of the business and wherK^hiMOn,
on the Globe this company should do an act in e:cj
would be subject tq forfeiture.
No one would think of precluding a compa
natural source of supply, taking timber leases or b
There as in the oil business the manufacturing me
products. In each case the supply is limited as n
plies of the particular kinds needed and obtaining
Is of supreme importance. The same thought ma;
lay out large sums in plant and marketing faciliti<
hand in obtaining the raw material. lie must
of hostile forces and can be destroyed at their w
taking leases and producing oil, and thereby req
duce some oil, would mean to any concern operati|
owner of a sawmill if he should be prohibited fro
tail. And furthermore, as previously indicated, i
inception of thiu industry; the business has pitchl
world-wide.
The position The Texas Company was f J
the bill introduced for its relief, and the matteri
pany did not then, and it does not now, ask any ai
(apply to all similariy situated, or for any change i|
aires some fair aud suitable relief; such legislatio
ylghts that are enjoyed by companies organized
MOt the matter to th* Thirty-fifth Legislature.
aws of
prhere
"Charter
f «L
. / can n^tTw-ent them
of its powers aa defined by the
fmgaged in the lumber
|g standing timber, and n j and turns it int0 finished
,t takes the raw or c™dem , matter of obtaining sup-
i both locality and extent ™d the ™ here needod
at the times when needed and in th* pi aces, ^
ipplied to mining or any i «■ to have a free
Jed to protect his investment, otherwise he is at the mercy
red to Pr0* (.hftnce. To exclude an oil company from
tTbuy'from those who may happen to have wells and pr<
[a large scale precisely the same that it would mean to th
liring standing timber and required to buy his logs at re ,
a question of what might be ideal if we were at the
along certain lines; and these lines are universal and
Dlaifted to the last legislature but there was opposition *
Hayed and finally crowded out «ear adjournment The com-
[££L or for the enactme* of a law which would noV
aettled 'policies of the state; b*c It did, desire and it still de-
•u rmove the handicap and Mcord it those lawful corporate
l|l£l « California, Oklabwa or Louisiana. It will pre-
THE TEXAS COMPANY
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Allen, E. E. The Alto Herald (Alto, Tex.), Vol. 17, No. 5, Ed. 1 Thursday, January 18, 1917, newspaper, January 18, 1917; (https://texashistory.unt.edu/ark:/67531/metapth214408/m1/2/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Stella Hill Memorial Library.