The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1865-05-11
DIRECTORS.

This Company owns in fee simple seven
ty-seven and three-tenths acres on the Eas
side of the Allegheny River, in RocklanC
township, Venango County, Pennsylvania
Ii is situated five miles below the town oi
Franklin, opposite the mouth of the West
Sandy Creek, and has frontage of ITO rods
on the river. 1t is but a short distance be-
low the celebrated Hoover well which is
yielding 200 barrels of oil daily Other
yielding wells surround it in every direction,
and within the past few weeks two new
wells have been struck in the immediate
neighborhood, one of which is producing dali
ly 80 barrels of heavy lubricating oil worth
at the well $50 per barrel.
A fine vien of Bituminous coal, easily ac-
cessible, is on part of the land, and in view
of the enormously high price of coal in that
region, is an important consideration, and
will enable the company not only to supply
its own wants in that respect, but to derive
an income from its sale to others.
The adjoining properties are in the hands
of good and prosperous companies, all in suc-
cessful operation, and it is believed that no
oil company has started out with better
prospects for paying large and regular month
ly dividends
This Company intend developing their land
without the least delay, and for this purpose
have arranged for the necessary engines,
tools, tubing, &C., all of which will be put
upon the ground and in operation as soon as
the season will permit.
In addition to their own wells, the Com
pany also propose to lease to responsible par
ties portions of their land divided into lots of
10 square rods each, at a rent of one half
the oil, the Company to be at no erpense
whateUer. They will have at least fifty
such lots to lease, all of which can be leased
at once if deemed expedient, with covenants
binding lessees to sink wells with all possi-
BILE despatch to the depth of five hundred or
more feet. Estimating, only one well to
each lot, fifty wells, at the very moderate
average of ten barrels each, would make a
daily product of 500 barrels Of this the
Company's share would be $50 barrels.
Value of daily yield to the Company at
$50 per Barrel, $500.
Allowing $50 working days to the year, the
Company's annual net receipts from leases
alone would be Sl,S75,OOO.
The Company also intend sinking on their
own account, at least five wells. Should
they be successful with only one, it would
produce, estimating as above, yearly in
come of s 70yD0O
From which deduct for expenses
"a large estimate) $4,000
And it leaves an annual net income of 10000
To which add income from leases 1,S75, 900
Making yearly income of 81 $1,935,000
This is thought by those who are acquaint-
ed with this locality, to be moderate esti-
mate, and yet it is easy to see that even this
amount of success would make the property
of the Company in value, almost surpass be-
lief
Tire durability of this immediate oil section
is illustrated by the fact that wells above and
below this property have been pumping over
four years, with a steady yield, and without
any diminution.
A Few PLAIN WORDS 70 SUBSCRIBERS.
Subscribers to the stock of this Company
cannot expect to receive Immediately large
monthly dividends; if they were able to do
so they could not purchase it for ten, times
the amount at which it is offered. But the
basis on which the Company rests, will, it Is
believed, make the investment entirely safe,
and, prospeetive1y, of enormous oalue.
The President, Col. E. w. Davis, formerly
of Franklin, Venango County, is well known
as one of the most successful and energetic
business men who have engaged in the pc
troleum interest, and the respeCtability a I'd
integrity of the other officers and Directors
of the Company, furnish sufficient guaran-
ty that their conduct of the business
of the Company will be entitled to the
confidence and approval of all who may
invest in the enterprise.
The Directors have determined to sell on
ly limited amount of the Capital Stock at
the subscription price of So per share, par
value S5, the same being full paid up stock,
not liable to any further assessment, In which
respects the original subscribers, and those
who may now subscribe, stand on precisely
the same footing.
Subscriptions will be received at the Office
of the Company, 224 South Fourth ST., Phil.
adelphia, or at the Office of the undersigned
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