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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report December 4, 1998
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CALCASIEU REAL ESTATE & OIL CO., INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Louisiana 72-0144530
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
One Lakeside Plaza
Lake Charles, LA 70601
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (318) 494-4256
Item 2. Acquisition or Disposition of Assets.
2. On December 1, 1998, but effective November 1, 1998, Calcasieu Real
Estate and Oil Co., Inc., along with the other owners of the lands known
as Walker Louisiana Properties, purchased on a pro-rata basis the 25%
interest owned by Fina Oil and Chemical Company. The purchase price was
$607,500. Walker Louisiana Properties consists of 34,309 acres of
timber, agriculture and marsh lands. The purchase increased Calcasieu's
ownership from an undivided one-eighth interest to an undivided one-
sixth interest or an increase of 1,429 net acres. The purchase included
all minerals on the property owned by Fina. The Company borrowed
$450,000 from Bank One. Registrant intends to continue the same use of
the property. In addition, the Company purchased the 18,350 shares of
Calcasieu Real Estate and Oil Co., Inc. common stock owned by Fina Oil
and Chemical Company at a price of $3 per share.
The Board of Directors voted to suspend dividend payments until such
time as the new note for $450,000 is paid in full. This is estimated to
take from two to four years.
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
CALCASIEU REAL ESTATE AND OIL CO., INC.
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(Registrant)
Date December 4, 1998 /s/ Arthur Hollins, III
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Arthur Hollins, III, President
