The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1866-05-29
wooDSFIELD MONROE COUNTY. OHIO. MAY 49, 1868

of publishing to the world that they had
an interest in the parcel Of land belong
ing to the Tar Spring Flowing Oil Wells
Company
"Aud now let me tell you something
about that well-for this figure to which
| have drawn your attention indicates the
location of the we'll You see it Just
within an indenture made into our terri.
tory, This well was put down by two
gentlemen from New York; Mr.. AL.
pheus Fetchem, of the firm of Fetchem
and Holdun,and Mr. Zerubbabel Strait
ener, of the we'll, known banking frm Of
Straitener, Goldfish & Co. At the depth
of only eight hundred and seventy two
feet the massive and pouderous iron drill,
with its solid rod, was elected from the
we'll by bursting forth of oil. No
preparations had been made for taking
care of the oil at this stage of operations,
and before tanks could be set up aud the
food stopped, the circumjacent territory,
for miles around, was completely inunda-
ted with oil. Perhaps you have heard
something of the celebrated Law suits be-
tween the owners of the we'll and the far
mers theaeabouts. The latter sued the
former for the injury done to their grow
ing crops by this strange inundation, and
the former sued the latter for dipping up
and carting off hundreds of barrels Of
their oil. The matter was compromised.
however, between the parties, the farmers
being allowed to keep the oil in consids-
ration Of the injury done to their crops.
"And now, gentlemen, ask you to
look at the chance | offer you. We few
who have bought this land have spent all
we had in the purchase, and now, in order
to sink the wells, we must have funds;
and, mark you, those who come in first
will share with Us the profits"
At this point somewhat stupid indi-
vidual ventured to suggest that he should
think, if the land was as valuable as he
had represented, those who already owned
it would hire money, and sink their own
wells, and thus reap the whole of the har-
vest that was so sure.
The agent gazed upon the querist with
pitying wonder.
"Why, bless your dear soul, my friend,
there are only six of us who own this
land. Within year we must have hun
dred wells down; and those hundred. wells
will be yielding five hundred barrels of
oil each per day That would be fifty
thousand barrels. which at FIVE dollars per
barrel, would give us a clear income of
two hundred and fifty thousand dollars
per day! Can six men attend to that bu
siness? Perhaps you will tell me that we
could hire men to attend to it. Let me
tell you that the temptation to embezzle-
ment would be too great No--we want
men who will be equally interested with
us We must have FIVE hundred men
who will put in eight hundred dollars
each. That will serve to pay what we
had to borrow to get deed Of the land,
and leave US sufficient working capital
to go on as we all shall determine. II
you will look at the figures carefully you
will find that the absolute net income of
each individual will be five hundred dol
lars per dayl Perhaps you can make a
better investment of your money. II
you can, and will show me the opportu-
nifty, you may count me in
The agent answered all questions
promptly, substantiating all he said by
maps and diagrams, and well authentlca-
ted reports.
1t was as clear as the sun at noontide.
There could be no doubt about it.
Rooney Podkins went home and open
ed his old oaken desk, and took there
from small tin trunk.
Rooney, what are you doing?' asked
his wife.
81 am just goin' to make you open your
eyes with wonder, my dear And as be
spoke be drew forth bunch of new crisp
United States Seven Thirties. There
were ten Of them, of one hundred dol
lars each.
"Are you going to throw away that
money, Rooney"
"Not exactly my darling; but I'm goin
to put eight of these things where they'll
bring me back more money than you ever
dreamed of."
Aud then Rooney went on and related
to his wife all that the agent had told
him. He had all the figures laid up il
his head, and could repeat all he had
heard almost word for word
"And who are the men that pretend tc
own this land?" asked Betsey.
"The men who o,on it, replied Rooney
'are all great business men-some Of tht
heaviest men of New York and Phila
delphia There's Mr.. John Skinner
and Mr.. Lot Dedhammer; and Mr.
Solomon Phoolum;and Mr. Ezekiel Tar
foot. Them are four New York mea ,ant
every body who does business in that sec
tion knows.that they are reliable men,
One of EN- is President of bank, ant
one of EN- has been in Congress-
"Rooney Podkins, if you 60 and pu
that money in there, you'll be sorry fs
lit"
"Why, bless your soul, hayn't you go
no faith in iles"
.'Not when it comes in that shape
Rooney. l know there are good man
paying companies; and if you was boun
to put your money out 10 that way, w
no doubt you could fnd safe concern
among some of en-. But would lik
to knew at least one Of the men who ha
the management OF the business. Befor
! I'd risk such an amount as that, I'd b
) sure that somebody was at the head {
the company that knew.
, But Rooney could not see it. He ha
no eyes but for the immense wealth tia