Black Diamond Oil Co. - 1917 dated $500 District of Columbia Oil Gold Bond - Partially Issued - Uncanceled
Inv# GB5115B Bond
$500 Blue 6% Uncanceled Gold Bond, Printer-BDO Co. Full set of 20 coupons. Delicate vignette of eagle holding the Black Diamond logo in its beak. Rare!
Below from Moody's Manual of Railroads and Corporation Securities, Volume 3, 1918:
BLACK DIAMOND OIL CO.-Inc. Nov 14, 1904, in District of Columbia under U. S. Government charter. Owns in fee simple 464,720 acres in the coastal belt of Texas, and leases 388,226 acres located in the oil regions of Wyoming, Kansas, Oklahoma, Louisiana, Mississippi, Tennessee, Indiana, Michigan and Texas, including oil and gas wells, machinery, drilling outfits, casings, etc. Present oil production from 42 wells amounts to approximately 550,000 bbls. annually. Daily production of gas from 200 wells in Kansas is 20,000,000 cu. ft. and from wells in Oklahoma, 57,000,000 cu. ft. Company plans to build a large refinery on its property in Texas, to increase oil production by 365,000 bbls. annually and to acquire casing-head gasoline plants and the Mettler process of refining.
Capital Stock.-Authorized, $25,000,000; outstanding, $6,881,890; par, $10. Transfer Agent and Registrar: Registrar & Transfer Co., New York. By an agreement between stockholders and company, no dividends are to be paid previous to July, 1919, on the first $6,200,000 stock which was issued in exchange for properties. A minimum dividend of 12% per annum will be paid on the balance of stock issued, the first dividend of 3% being paid Feb 1, 1918.
Bonded Debt.-$270,500 bonds; due Oct 1, 1922. Midland Trust Co., Washington, D. C., Trustee. Authorized issue, $3,000,000.
Officers: E. C. Lott, Chrm. of Trustees, Chicago, Ill.; C. C. Marshall, Pres., Drumright, Okla.; R. M. Robinson, V-P., Joplin, Mo.; J. W. Mettler, V-P & Gen. Supt., Chicago, Ill.; M. W. Edwards, V-P, Casper, Wyo.; R. W. Dunlop, V-P; E. F. Foley, Sec., New York; A. C. McClaughry, Treas., Chicago; J. D. Cameron, Gen. Mgr., New York. Executive Committee: C. C. Marshall, J. D. Cameron, E. C. Lott, J. W. Mettler, R. W. Dunlop. Trustees: C. C. Marshall, Drumright, Okla.; R. M. Robinson, Joplin, Mo.; E. C. Lott, J. W. Mettler, R. H. Owen, J. C. Haffler, Chicago, Ill.; R. W. Dunlop, J. D. Cameron, M. M. Becher, New York; M. W. Edwards, Casper, Wyo.; Elmer Burgess, Cherryvale, Kans.; A. DeZavala, Houston, Tex. President's office, Drumright, Okla. New York office, 1476 Broadway.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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