Trumbull – Dear Lad (2) – Oil Stocks and Family News – May 21, 1940

APG - Lad (head only) on horseback in Venezuela - 1940

Alfred Peabody Guion

And speaking of oil, I received your letter about the possibilities of an oil well in the Josephina field, so I looked up the financial standing of the Venezuela Petroleum. The highest price at which the stock of this company has sold since 1934 was 3 3/8 in 1937, the lowest three eights in 1934. No dividends have been paid on its stock since 1930 when five cents a share was declared. Its stock is listed on the New York curb. In 1928 it sold as high as nine and 1/8. The company owns royalty interests in Venezuela oil properties and has stock control of:

Cia. Consolidada de Petroleo, an exploration company owning government concessions covering 939,000 acres in Venezuela, most of which have been explored. During 1938 it acquired the assets of several former subsidiaries.

Sinclair Central American Oil Corp., owning concessions in Panama. No Wells recently drilled — no production.

Venezuelaen Oil Company (inactive) sold its interests in Texas

As over half of the company’s stock is owned by the Sinclair Oil interests and is controlled by the Consolidated Oil Corporation, K. Porter and P.W. Thirtle are two of the directors of Venezuela Petroleum who are also officials in the big company, while two officers of Venezuela Petroleum, M. L. Gosney, Assistant Treas. and O. M. Gerstung, Secretary, are also in the big company as directors. Based on your tip I bought some of the stock for your account today at $.75 a share.

And speaking of Sinclair, I noticed that on May 13th this company ordered 10 oil tankers. Presumably they will be powered by diesel engines, so if you join Mr. Kuhnhard’s company you may be a step nearer to your goal. By the way, none of your recent letters have made the slightest reference to the matter of your contemplated move. Of course I am deeply interested and hope you will keep us posted on anything you hear or do that affects the situation.

On the way home from the office tonight I picked up Ethel Bushey. She says she is mad at you because you have not answered her 29 page letter or whatever it was. I told her, “She ain’t seen nothing yet.”

Mrs. French informed me the other day that her daughter had just given birth to a boy, so Danny is a papa again.

Ced got a telegram today from one of the Stohl boys attending M.I.T. saying that he was not going out to the coast by car unless Rusty was going and since Rusty is apparently lacking any plans for immediate departure, Ced and Dan will probably leave the first part of June instead of May 27th.

Received your letter of May 9 in which you answer some long overdue questions, tell me about the Monopoly game Mrs. Becker and informed me that at long last you are going to Caracas with the much discussed tools. Hope you will find nothing serious the matter with your teeth but it is by far the wisest thing to take care of any trouble before it has a chance to get worse.

Aunt Betty writes she is coming up Thursday to stay over the weekend as sort of a farewell visit to the Alaskan adventurers, which is about all that my sleepyhead can find to tell you tonight. Adieu, then, till my next.

As ever,

DAD

Tomorrow and Sunday, more of “Liquid Heaven”, Special Pictures and Memories of our Island Family Retreat.

Judy Guion

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