New Iberia enterprise. (New Iberia, La.) 1885-1902, 1901-04-27
THE OIL CRAZE.


There has seldom been exper-
fenced in this section anything like
the oil craze that is now sweeping
over the South. Everybody, from
the phelgmatic millionaire to the
day laborer, appears to have caught
the contagion, and the widest
visions Of wealth and luxury per-
wade the thoughts of the people.
Men have not the means to pay a
mornings modest market bill are al
ready, in fancy, living in mansions
with brown stone fronts, and halfthe
community seems to be treading upon
clouds. Shop girls discuss millions
now with the ease and abandon
they were wont to deal with pennies,
and nobody seems to be too poor to
"load up with OIL" The popular
plan upon which most of the com
panies have been organized has
greatly contributed to the craze that
sweeps over the community, and
the "dollar shares" will reap in
millions where companies formed
on the hundred dollar basis for
stock would most probably have
palled upon the market.
1t seems to be one of those in
stances in which the old adage of
ga fool for luck" applies with un-
usual appositeness, inasmuch as the
success or failure of the various
wells now being sunk seems to be
altogether a matter Of luck. The
scientist and the man with accurate
knowledge has been pushed aside
in the fierce scramble, the of the
survival of the fittest in state of
suspension, and the outlook is that
for the present, at least, it is any
mans fight. While this is true in
respect of bona-ide organizations
that own rights in the oil fields and
contemplate developing them in
good faith, yet it is inevitable that
many persons are going to be duped
before the craze ends. The poorer
classes and the inexperienced should
be warned, therefore, against put
ting their faith in wildcat ventures,
such as will doubtless spring up
everywhere in the wake of the Beau
mont boom, and coin a rich harvest
from the incredulity of the public.
When a business man goes to make
an investment he usually examines
the matter in order to ascertain the
character and business standing of
those at the head of the enterprise,
so as to be assured that whatever
money he may invest will be at
least honestly and intelligently
handled.
Under the present circumstances,
however, the wonderful pictures of
to result from small in
vestments are likely to turn the
heads of many not accustomed to
business methods, and the desire to
get in "on the ground floor," will
be TOO great for many to resist.
Those who are influenced by the
"ground floor'' argument should
remember that ''ground floors"
will be made to order just as long
as there are suckers enough to
justify the manufacture, and that
unless care be taken in seeing that
their money is invested only in
solvent concerns, there is certain
to be trouble in the future. Under
the very best conditions buying oil
stock is like taking ticket in
lottery, but if ones money be in
vested in schemes that have no
solidity, failure and loss cannot be
averted. There are several sub
stantial companies in the field or
ganixed by well-known business
men whose names are guarantees
of fair and'honest dealing; it is by
no means certain that they will
succeed but if they do SO the in-
vestor is assured of honorable treat
ment. Therefore, those who have
money to invest in oil stocks can
do no better than to observe the
custom that characterizes their deal
ing in ordinary matters and trust
such money as they may care to
invest in the hands of men of
known character and business in