Description

The Oakbank Oil Company Limited, Report by the Directors and Abstract Balance Sheet for Year Ending 31st March 1909. To be submitted to the Twenty Fourth Annual General Meeting of the Company on 19th May 1909. Details the: Profit and loss account Dividend recommendations Liabilities Assets The balance sheet also notes that: 'There has been a very heavy fall in prices of products during the year, but the decreased cost of fuel and wages, and other savings, have been sufficient to compensate for this. The Company's pits at Midcalder were closed, and the retorts at Oakbank were stopped in April of this year. The two additional mines at Duddingston have been developed, and the retorting plant at Niddry Castle Works enlarged sufficiently to make good the deficiency of the supply of Crude Oil from the retorts at Oakbank. A new area of rich Shale has been proved close to Oakbank Works. Two mines are being sunk; and, in a year; a sufficient supply of Shale will be fot from this source to enable the Retorting Department at Oakbank to be re-opened. The discovery of this field has added considerably to the Company's reserves of Shale. The extension of the Refinery at Oakbank Works is well in hand, and will be able to undertake the increased quantity of Crude Oil as it comes forward.'

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