The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1865-06-14

commenced again, il subsided. They hop
ed, however, al some future time 10 get oil .
from it.
No had been bored as low as any rea-
sonably disPosed well ought to expect, but
so far it remained obstina,eIy dry. They
did not expect much from it.
No was more encouraging and was
steadily pumping a. The rate OF two barrels
per day.
AT this announcement the faces OF the
meeting frightened. Here, at least, was
something tangible.
No 4 had been bored 10 the depth OF
some hundred feet There was q co2ious
flow of salt water and gas, and great hopes
were entertained tha, il would equal the
"Coumbia" or the "Coqneue " / under
stand that large amount OF gas is gao
sign.
The labors of the Directors had ceased
bere, as far as developing was concerned
but they would cheerful!y lease the right 10
bore to any parties willing 10 undertake il
at their own expense The stockholders
might recommend il 10 their friends, or do
il on their own accoani. II was all good
boring territory, and probably would pay
them in time.
An annoying accident had occurred which
had cunaied the receipts OF the company
from the sale OF oil In anticipation of
large production they had erected a tank
capable of holding several hundred barrels.
This had been filed win the product OF
the wells, composed mostly of salt waIer,
but with some oil floating in it, estimated in
the proportion of about one barrel in twenty,
and the directors had looked to the sale OF
THE for the funds 10 carry on the works.
Unfortunately The engineer who was one of
the best in the region, and highly capable
aud reliable man, had allo we'd the cock OF
The tank to remain open one night, and all
the contents had run ont. No blame was
attached 10 him az he was probably asleep
The report closed with a deprecaiory hint
against holding the directors responsible for
the state OF affairs, aud a suggestion that
the company did not stand alone in this
respect.
The treasureI's report was then presented
! II was automatically correct, bat somewhat
unsatisfactory The working capital OF The
/ concern and The receipts from sale Of pro.
drcl Of No well had been absorbed by
( the expenses, and there was little debt of
Il thousand or Two due the officers. Per-
/ haps the meeting would authorize an as
I sessmeni on the capital stock to reimburse
these gentlemen, although it was not in
sisted upon. II was well the, il was not,
for The meeting by This time was iso much
subdued 10 resist anything; and, for my
own part confess 10 feeling of unquali-
fed aud absolute submission to the strong
minded officers, which would have led me
TO DO anything that they recommended, even
to signing av az my biFJhrigh in their favor
! noticed, at this ilncture that one or two
nearest the door gIided easily and naturally
ont, possibly fearing that if they waited
longer some Of the others might get into
Third street before them and buy up all The
stock on The market.
The rest OF rs, however, who did not
wish to take a mean advan tage of an igno-
rant community, remained 10 see il
! through. We voted ''ayo" whenever we
were asked to DO so and when the question
was put whether we would now adjourn to
90 into an election for officers and managers
for the ensuirg year, unanimously assented.
| The directors with becoming nodesiy pro
/ posed that some one not belonging to their
body should be appointed as teller to Goa.
due, the election, but al this the siockhold-
ers made for the door as if maniac was
/ after them. ran too, as always do when
| / see Others run think it better to trust in
I their judgment than in my own; besides
! they may know more than J.
But the annual meeting OF The BulFrog
! Company has been held. had looked
! forward 10 il with interest and expectation
! After The lucid statements and reports,
! feel that have made secure investment
-One that shall probably hand down 10
! my children. REPORTER