The Bartlett Tribune and News (Bartlett, Tex.), Vol. 65, No. 26, Ed. 1, Friday, May 2, 1952 Page: 3 of 8
This newspaper is part of the collection entitled: The Bartlett Tribune and was provided to The Portal to Texas History by the Bartlett Activities Center and the Historical Society of Bartlett.
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THE BAUTLETT TRIBUNE Friday May 2 1952
Thousands of Cities Service men and women in their daily work last year . . . searched for and found new sources of
oil and gas . . . increased holdings in prospective oil and gas producing areas by 3209000 acres . . . drilled 388 neuJ
wells . . . produced 44 million barrels of petroleum liquids . . . brought the Company's oil reserves to the highest pn.
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in history . . . invested $82000000 in new construction and acquisitions . . . refined 75500000 barrels of crude oil...
distributed 559 billion cubic feet of natural gas to 705500 customers in homes and factories . . . transported by tankers
54542000 barrels of oil products . . . sold nearly 4 billion gallons of refined petroleum products . . . these varied activ-
ities made it possible for the Directors to report to the stockholder-owners that their Company had another record year
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. . . and we do mean
You Customers who with others purchased
more than $800000000 worth of Cities Service
petroleum natural gas and other products in
You Shareholders who along with 200000
shareholders in other localities helped furnish our
working tools . . .
You our Service Station Dealers and
17000 others like you who distributed our
products . . .
You Insurance Policy Holders and Savings
Bank Depositors who share in this success story
because a successful operation enabled us to pay
you for the hire of your money . . .
And you Taxpayers also share when a com-
pany is operated efficiently. Cities Service in 1951
paid more than $50000000 in corporate income
taxes which if the Company had not been effi-
ciently operated would have been added to the tax
burden of other taxpayers . (As Ralph Hendershot
noted Financial Editor wrote in the New York
World-Telegram and Sun "By working real hard
in 1951 the officials and employees of the Cities
Service Co. managed to earn $20000000 more
for Uncle Sam than they did the year before and
$518000 more for the company.")
This joint effort of investors employees man-
agers distributors and dealers as described in our
1951 Annual Report is an inspiring chapter in the
Great American Story of Progress. Here are some
interesting facts about the growth of Cities Serv-
ice in the past six years since World War II:
In 1945 gross income was $362385000 princi-
pally representing customers' purchases of prod-
ucts and services. In 1951 gross income was
$835565000 an increase of almost half a billion
Common Stockholders' equity increased from
$149000000 to $413000000.
During this period Cities Service expended $447-
000000 in the oil and natural gas business.
Long-term debt and preferred stock including
prior claims thereon decreased $176000000.
Provision for taxes on income increased from
$7474000 to $50744000.
Quality Petroleum Products
To our friends in Bartlett who helped make
1951 a big year for us and for Cities Service
many thanks! We shall do everything we can to
show our appreciation by making this a "contin-
ued storyu of good service through 1952.
CITIES SERVICE DEALERS
HERE AND EVERYWHERE
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'All Katirtt art from lit Cilit Swvfci Had Annual ? which ii oraihblt on rjuif. Will 70 Pint $h ! Ntw York 5 H. tf
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Ford, Robert C. The Bartlett Tribune and News (Bartlett, Tex.), Vol. 65, No. 26, Ed. 1, Friday, May 2, 1952, newspaper, May 2, 1952; Bartlett, Texas. (https://texashistory.unt.edu/ark:/67531/metapth77027/m1/3/: accessed April 19, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Bartlett Activities Center and the Historical Society of Bartlett.