Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-02

u, o. eighty acres 81 : tinae, untfl /
amounted to two hundred acres, -
presenting 1900. This land VA
within one mile Of the river and ab0u
ffty miles south Of Wheeling. on til
Ohio side.
Q.-Is there any oil production o.
that land? A.-Yes, there are proba
bly, twenty producing wells at tn,
present time.
Q.-What proportion comes to you
A-One-eighth.
Q.-You get royalty? Ayes; one
eighth of the production.
Q.-What is the aggregate Of thu
royalty daily? Alt wouldn't be ov'
er five barrels-that is, the farm al
present does not produce over fort,
barrels day.
Q.-Are you familiar with the value
of the royalty in the market? A.
Not with the royalty. / don't know
what the royalty would sell for. but
the other would run at $500 or 500.
Q.-How much do you think the
royalty is worth? A.-$600 to $1,000
per barrel per day can't exactly
say.
Q.-At $1,000 per barrel per day a,
what do you value the royalty? A.
$1,000.
Q.-Have you any other land In
Ohio? A.-No.
O.-Have you any other land on
which oil is being produced? A.-No.
Dr. Hissom continued, in answer To
questions by Mr.. Howard, to enumer-
ate the real estate owned by him.
They consisted of row of three
houses on South Penn street, bought
for $4,000 three years ago; the house
occupied by plaintiff, bought four
years ago for $1,000; two houses near
the bridge, costing $4,000: five lots on
Elm street, bought for $3.50, upon
which is a barn costing $500 or $500.
He, testified that his farm in Ohio Is
not at present being used for farming
purposes.
Q.-Do you own any bonds? A.
Not at the present time. / had some
that l bought for 96. They went up
to 102, and / sold out. Some others |
got as much as I paid for them three
years ago, and j also sold them.
The witness was asked If he had
loaned any money upon which he was
secured by mortgages, etc. He re-
piled in the affirmative, and named
mortgages of 81 500, $4,000, $4,000, and
$500 respectively.
Q.-Do you own any Bloch Bros.
stock? A-Not now. / bought some
for 80, and sold it recently for IS.
Q.-Tell what money you have in
bank, if any. Al have certificate
of deposit of $1,000 in the Germania;
a certificate for 81 900 in the CONNER
cial, and / have about $4,000 in the
City Bank.
Q.-Have you money in any other
hanks? A.-None.
The attorneys for the defense foot
ed UP the assets of the plaintiff, which
amounted to s63,S5O. Witness said
81 900 of that sum belonged to his SON
in-law.
The cross-examination was con-
Quoted by Mr.. Hubbard. He took up
the first mortgage mentioned, and
witness stated it was for money loan
ed to DR.. Best.
Q.-Have you, or have you ever had
any stock in the Wheeling Register?
A.-No.
Witness testified that he sold 900
worth of government bonds, and that
the money is included in his deposit
in the City Bank.
Q.-What will you take for your
Ohio farm, including royalty? A.
I'll sell it for $4,000 to you or an
body, right here
t. 1nfn do Mt
as to the value of a working interest
in an oil well. Witness had never
known an interest to be sold higher
than $500. Royalty is worth about
one-thfrd more per barrel than a
working interest.
Q.-What will you take for Fish
Creek Island? A.-$7, 900.
Q.-You have a diamond stud and
ring, have you not? Al have.
Q.-What are they worth? A
About $500.
Q.-You haven't worn them during
this trial, have you? A.-No, nor l
haven't worn them very much during
this trouble either.
Witness said he bought twenty
shares of Bloch Bros stock for 1000,
and sold them last month for $1,000
Mr.. Hubbard asked him to tell what
his royalty from oil wells amounted
to during the past five years. Wit
ness could not say; he had not kept
books. When he got his balance
from the Oil Exchange, he took a
check for what was coming to it, and
had it cashed at the bank. He did not
think the Standard Oil Company would
furnish him with the information, ev-
en- if he asked for it. He didn't want
to go to the expense of looking it up,
but had no objection to the other side
doing So There was objection from
Mr.. Howard to this line of examina-
ton, which the Court sustained.
In answer to further questions, wit
ness testified that his present income
from royalties was smaller than ever
before. 1t might have been a barrel
or two more a year ago.
Q.-State the greatest royalty you
ever received for one day. A.-That
greatest was rs, 80, or maybe 35 bar
rels day.
Q-The Watson Oil Company oper-
ated those wells, did it not? Ayes.
Q.-When the Watson Oil Company
sold its operating interest, don't you
know it was sold on a basis of LOO
barrels day production? Al don't
think it ever reached that 1t varied,
of course. New wells coming in
would run it up, and it might for a
few days at a time have run as high
as 500 or 1000 barrels day.