The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1864-12-24
The West Virginia
National Petroleum Association.
An Oil Enterprise upon New
Principles.

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several tracts OF land in Writ and Roane counties West
Virginia lying in the best Oil Region of that state and
containing over 1000 acres all of which have been So
by Professor William f. Roberts, A
The price Of the lands averages about $55 per acre
, ss, '' onsen'n 81 the customary price OF Oil Terri
tory tracts having been lately sold in the same neigh
bohood, within two miles Of of these at 81 900 Der
- ~
1t il proposed organize this Association to purchase
he ands, and furnish working capital to deyelope them
oooooo shares will be sold Mt Sl00 each which will
sl6oooo tie '""''' and produce working capital of
Ne subscriptions taken for less than TWENTY-FIVE
shares
Before paying for any tracts the titles will he carefully
rX.inined by competent counsel in Virginia and an adj
itlnnal geological examination made of them by an ex
pericnccd sculugist; and in of f,yorabc renort
Of any tract either to title value rs Oil Territory
such tract will not be taken and the capital Of the As
SocIition proportionably reduced.
As fast ~ sufficient subscriptions are made and m,
proper examinations Completed the tracts will be taken
possession Of and wells put down rapidly as capital
ana energy can accomplish the work.
In working the lands. the system of leasing parts fr .
royalty Will be adopted in order -vclopc SO large
body as rapidly as practicable. After securing all the
tracts f,'or"hy reported on they will be formed ints
FIVE Companies, under the general Law of West Vir-
gna each with capital of SlOooooo divided into lO0-
0ol shares OF SO, each Company owning oncffth of the
lands purchased. and having 50, 900 working cnptnl
Each Subs ribrr To this Association will recriy. one
NTH OF his subscription in the stock of each Of the Com
james Lind Esq has consented to act as Trustee fur
the association, in order to receive the Subscriptions for
As soon as $4,000 shares shall have been sul.cribed
temporary Board Of Officers will be chosen by the sub
scriners 10 supervise the examination Of the lands amt
manage the affairs Of the ,ssocatiu until the several
Companies are formed and organized.
The Importance Of the oil production and trade is just
beginning to be understood and appreciated new us,,
are daily found, and the demand is rapidly increasing
keeping always in advance of the SIMPLY From the
money article OF the Philadelphia Ledger, of tho 10Th
INST we quote the following in confirmation of this view:
"The operations in Oil Company Stocks were again,
arEe covering sales of some $4,000 shares Prices ruled
instances and the shares Of all the better class of Com
ptnes firm The stocks Of several of the comma
mes are coming to be considered investment securities
their dividends being large and regularly paiI The
held Of productive operations oil is steadily widening
hut the wIdcned field and increased population do not
keep pace With the to which the oil is .nrlicd and
prices advancing The boring excitement In Greens
county is now becoming AS great has hitherto been
on Oil Creek and the excitement the same su cct is
all aSio* IN Virginia. Southern Ohio and Northern Ken
mky The Success that attends the search for oil in the
regions named is producing great excitement and al
though some money may be lost by n.wise spectators
in shares there is scarcely doubt that mach oil will ne
produced establishing source of wealth hitherto I'M
known or, if known. unappreciatcd'
Some Oil Companies have been unsuccessful from the
fact of buying lands badly selected, having too little ter
rtory. or too small capital In such mn enterprise ma
this, with an enormous territory in the best nil region
selected by the most competent Judges AM! with aun
dant cash means, failure is simply impossible
The Investments and profits are certain; loo per cent
per annum is low estimate of the profits on the amuut
invested The land will Away ,bc worth more than the
price paid for it for farming purposes $40 Of land
IN the IN ISL desirable be
out for towi (ths being expressly authorized by the
law of West virginia, unler which the Companies will
he Unexpectedly and these lots sold moderate prc.
Will return the whole capital to the Stockholders
oneliti will he required to be paid every share at
the time Of subscription, and the balance as required
MT wore than one-fth each share to be called in at
one time.
lie undersigned resi- ecteully submit to tn If
fellow citizens that the + e,cnt enterprise offers
q safer, s'irer and cheaper investment than any
Oll enterprise yet started, and earnestly invi q
their cooperation to ensure its success.
Subscriptions at 3 share, cannot be mace
after LIST of January next
~ Plans and further information can be OBJ.
famed from either OF the undersigned, or from
James Lind, Esq, No. 81 South Sixth s rect.
Philadelphia, to whom subscriptions are paid
EY7 Jones Webster, Newspaper advertising
agent, No. 80 North Fifth street, below Arch,
Philadelphia. is Agent, to receive subscriptions
from this county.
Strickland Kncass, 21o soutl, Fifth st.
Augustus G. Bournve, NJ. d., SIG N. Sixth
street.
Joseph w. Rycrss, Fox Chase.
&. d. Talmage, I12 South Third street.
Thomas II. Garsed, l06 Chestnut stie.t
james McManes 607 Walnut street.
VIM. NJ. Uher, NJ. d., Falls of Schuylkill.
David w. Sellers, 2l2 South Fifth street.
Henry w. Gray, 1921 Chestnut street,
Powell +. Clayton, 1876 North Third street.
William Grtfiths, 305 Race street.
Charles Gascoyne, q South Second street.
Robert b, Smith, 8 Woodland Terrace.
William Steel, Camden.
J. IL. Wheeler - South Fifth street.
+. NJ Jones, 800 Market street.
John w. Clarkson, 2052 Market street.
Charles I. Matheys, 6l0 Sansom Street.
Howell Evans, Fourth and Library streets.
Clayton Allen. ~ South Fourth street.
Charles O'Nell, Sixth and Chestnut streots
William II. Ackey, 502 North Second street
b. Scott, Dr., 6l9 Chestnut street,
Matthew J. Brady, 1877 Shackamaxon street.
VIM. II. Barnes, 81 North Third street.
VIM +. Warburton, 400 Chestnut street.
Jones Webster, so North Fifth street.
Reterence-The publisher OF this paper.
Dec. "a, l864-2t