The Portland daily press., 1865-03-27
lAn on Enterprise, but No oOmpanYI

The diffsrsnt oil companies, having tneir
executive heads In this city, have both been
pretty literally favored 10 our columns; and .
| pretty fnli share of caution has been admins
tered to our people against being TOO easily
carried AWAY by the dazzling advertisements
put forth by foreign companies, the design and
affect If which. 10 too many instances, has no
doubt bOeu TO magnetic the speculation lov-
inc crowd, and draw from their pockets the
/ needlul sums to sink wells, and to swell profits
IN the operators in oil stocks. &
There is one concern, however, la which q
portion of our citz ans are interested, that thus
far has not been brought before the public eve
has not been advertised; win not be adyer-
tised-aDd We have thought a brief mention
Of it would not be out Of place, inasmuch as
the cautionary articles We have published may
have tended to affect this private, unassuming
enterprise in the same way they would these
OF more show and pretension.
Ashoit time since, Mr.. Jesse Dyer, Of this city
well known to many OF our citizens as ORG,
of the most upright, honorable and stright-
forward men among us. and whose word no
one acquainted with him would dscredit,-
went out TO the oil regions 10 Venango Coun
ty, Pa; and after looking about, and availing
himself of the best means of information to be
had, purchased the fee in one Undivided half
of fifty-six acres of land, on Cherry Run, for
the sum of $4,000 He paid IS 900 Gown,
from his own pocket, which he is to forfeit il
fh. holonoo IL MT aoid within a o;von fin,a
This land is in the heart of the oil region, two
miles from Petroleum Centre, which is on Oil
Creek, midway between Oil City and Titus
vile. Wells are sunk on three sides of this
tract, and the most of them are paying WELL
Twenty acres of the ffty-six are low, or what
are called "boring lands" The balance is
made up of land more or less elevated; and
through much OF it runs a vein of coal--a good
article for that locaity-Which is three and q
half feet thick,-Mr. Dyer having personally
the great demand Tor and the high price of
the article in that region, will pay tor the
whole purchase. Such are the oil and coal
prospects opened by this purchase,-the oil
requiring transportation, over road already
built, but two miles to reach fiat. boat naviga-
tim on Oil Creek. No lien is to be held by
any one on portion of the product, if any
should be developed, as Mr.. Dyer has made an
outright purchace. a2
He came home and after consulting with
friends, instead of going to Boston or New
York and selling his right thus acquired-as
he doubtless could do for large bonus-he
has adopted this plan. He puts it into 100
sharee OF $500 each, making $4,000. OF this
sam $4,000 will be absorbed to pay for the
land, IS, 900 will be the common property of
the shareholders for working capital, and the
other S., 900 will be Mr.. Dyer's, to pay for bis
services, his risk and his profits. This he does
i not disguise. We have seen his subscription
list, and it is headed by Mr.. Dyer himself with
ten shares, which is followed by other parties
with shares varying in number from one to
there is name whose credit would be affected
| on Change or at Bank, were the paper open
ly posted for public Inspection. 1t is no catch
penny, for nothing less than one share (S5OO)
is received. Seventy shares are already taken
un, and thirty remain unsold. OF course the
Small fry" in means are excluded from partici-
| patton, and The men who are likely to have
| $500 tospare know enough to examine careful
ly before subscribing; but 1t do: seem to us
from the location, from Mr.. Dyer's statement
ftom his known good character, and from his
practical good judgment, that the few remain
| ing shares are worthy ths attention of some 81
our substantial men; and WITH such men hold
OF the enterprise we shall expect to see II
pushed 10 its legitimate result, and if any
stocks are likekly to pay we cannot avoid the
conviction that. these will be found safe In
yestment for those who can spare the means
from their legitimate business.