The commercial. (Union City, Tenn.) 190?-193?, 1901-08-16
BLOCKS OF SHARES
Sold and Oil Interest Creating At
tention.

JCublOu.
News OF the prospective rich oil
discovery at Wickhffe, KY, is
spreading rapidly all lover the coun-
try hereabouts and in Western
Kentucky. Near the oil lands
shares are being absorbed by all
classes OF people. In this city in
the last few days we have heard of
the sale Of blocks of shares ranging
from 1000 and 500 down to smaller
numbers. The leading topic on the
streets is the discovery of oil, and
the relative merits of the compa-
mes at Wickliffe and Reelfoot Lake.
There are 100000 shares en-
braced in the charter of the Wick
life Company. A little more than
half of these go to the charter
stockholders. The remaining
shares are to be placed upon the
market at one dollar per share.
There are a number of shares
known as treasury stock. These
are a portion of the stock owned by
charter members and are offered
at IS cents per share.
Visitors are passing to and fro
daily, bound for Wickliffe to eX-
anime the prospects. Last Friday
company from this city, headed
by Marshal II. L. Adams, passed a
night at the old we'll at the Wick
life Canning Factory, where the
oil der osits are found. Everybody
who has seen the published ac-
counts are familiar with the fact
that these deposits were discovered
in an old forty-foot WELL dug for the
use of the canning factory, but af-
forwards abandoned. 1t was to
prevent the preparation of fraud
that these gentlemen guarded the
we'll. After closely watching all
night the water was drawn out in
the morning. When the water
rose again sample bottles were
filled just as the liquid came from
the we'll One of them was brought
home, and is to be seen at Morgan
& Hardy Bros. Department Store.
One fifth of the contents of the bot
tie is a refined explosive liquid,
something like gasoline or benzine,
the remainder water mixed with
oil. The explosive liquid forms at
the top. When tested it ignites
with flash, just as benzine or gas
oline does. All this has led to the
leasing OF several thousand acres
of land and a general excitement
over what is thought to be a bo-
nanza in the discovery of oil.
Respecting the Reelfoot Lake
Oil, Gas and Mining Company the
lea ders seem to be just as confident
that they have a positive trace of
oil. Then who knows what may
be embedded in the lake bluffs,
where earthquakes and upheavals
have changed the formation of the
country for many miles,
1t is said that viens have been
traced on a direct line from the oil
wells in Pennsylvania both to
Wicklitfe and to Reelfoot Lake.
The Reelfoot people also claim to
have positive evidences of the ex-
istence of a stream OF oil. They
have options on several large
tracts of land, and the exact point
at which they propose to sink a
we'll is known only to those who
have control. There are many who
prefer the plan upon which this
company is organized. in the first
place, only 500 shares are to be
issued Immediately, and 1000 more
may be issued if necessary. These
are valued and subscribed at $40
share. A large amount of the
stock has already been taken and
shares are selling every day. There
are many who firmly believe, not
only in the discovery of quantities
of oil, but in some remarkable dis
coveries of fine mineral ore.
The people are spending some
money in these Investigations, and
it won't be long until the facts are
EnNun