| Business Summary | | Texas
Pacific
Land
Trust
was
organized
to
receive
and
hold
title
to
extensive
tracts
of
land
in
the
State
of
Texas,
previously
the
property
of
the
Texas
and
Pacific
Railway
Company,
and
to
issue
transferable
Certificates
of
Proprietary
Interest
pro
rata
to
the
holders
of
certain
debt
securities
of
the
Texas
and
Pacific
Railway
Company.
The
Company's
income
is
derived
primarily
from
land
sales,
oil
and
gas
royalties,
grazing
leases,
and
interest.
Texas
Pacific
Land
Trust
owns
the
surface
estate
in
approximately
1,035,563.73
acres
of
land
located
in
21
counties
in
the
western
part
of
Texas.
Also,
the
Trust
owns
a
1/128
nonparticipating
perpetual
oil
and
gas
royalty
interest
under
85,413
acres
of
land
and
a
1/16
nonparticipating
perpetual
oil
and
gas
royalty
interest
under
386,988
acres
of
land
in
the
western
part
of
Texas. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Texas
Pacific
Land
Trust
receives
and
holds
title
to
extensive
tracts
of
land
in
TX.
It
derives
its
income
from
land
sales,
oil
and
gas
royalties,
grazing
leases,
and
interest.
For
the
six
months
ended
6/30/01,
revenues
decreased
2%
to
$3.6
million.
Net
income
increased
20%
to
$1.8
million.
Revenues
reflect
a
decrease
in
land
sales
and
interest
income
from
note
receivable.
Net
income
reflects
decreased
basis
in
real
estate
sold. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Joe Clark, 73 | Chairman | Roy Thomas, 54 | Gen.
Agent and Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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