The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1901-04-27

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abated. On every hand unusual
activity is noticed. Oil prospectors
are coming in on every train from
East and West. Men who failed
to .sstrike it, at Beaumont have
very naturally turned toward this
section. 1t is very true shat sur
face indications are said to have
been seen in a large number of
places, but here OF; itself has been
found in considerable Quantities.
The fact that oil has unquestion-
ably been found at Anse Labutte is
causing an animated scramble for
number Of farmers around the now
famous "Butte" who have wisely
refrained from tying up their prop
erty for an indefinite length of
time, are reaping rich harvests.
One got $500 for a part of the
mineral resources on twenty arpents;
one received $4,000 and another
$4,000. Other deals inv diving much
larger sums have been reported.
One lucky individual paid $500
for a small tract of land sold it a
few days later for $4,000. Swamp
lands, situated within two and three
miles of the "Butte," now find
ready purchasers a. $40 to $40. A
month ago these lands could have
been bought for IS an acre.
The "Butte" now occupies the
center of the stage. 1t Is no more
| question Of how far is the "Butte"
from Lafayette, but it is how far
is Lafayette from the "Butte. ="
Vehicles leave every hour with
| visitors for the wonderful spot.
The gas which burns there at all
times is now the talk of every one.
The oil pilgrims are beginning to
find out that Lafayette is the quick
est and easiest way to reach their
| Mecca, and in consequence the
local hotels and livery stables are
doing a good business.
Messrs. w. B. Harvey and o. M.
Drewes, of New Orleans, arrived in
Lafayette Wednesday. 1t is their
intention to organize an oil ex-
change here. They believe that
this town is destined to be the CEN
ter Of the oil fields of Louisiana and
that it is the best place for the loca-
ton of the exchange which they
propose to organize. They claim
to have a well-matured plan which,
in the event of the discovery Of
oil in this section, will be product
I've of great good. As An evidence
Of their determination to give the
| plan a trial, they have secured the
corner building of Mr.. A. NJ.
Martin. They have deposited $500
with Mr.. NJ artin who has signed a
promise of sale at a price of $500.
Should they not buy the building in
ten days, the $500 will pay for six
months rent. 1t is also the
intention of Messrs Harvey and
| Drewes to organize a company to be
composed of New Orleans and Lafa.
yette people.
The Gazette is authorized to
state that the Lafayette Oil and
Mining Company will be organized
in a few days and will be capital
lied at $1,000 900, in shares of one
dollar each. Those who wish tc
invest in this company are re-
quested- to deposit ten per cent OF
their subscriptions at either of the
Lafayette banks. Numbered re.
ceipts will be given and stock is
sued IN numerical order as soon a:
it will be possible to do SO.
! We are informed that a second
local company will be organized a,
an early date. 1t is not improb able
that several other companies will
enter the field. The promoters arr
pc ople of the town who want to ge
on the ground floor if the oil boom
materializes.
If oil is struck these companie,
will be in clover, if not, they will
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