Marietta daily leader. (Marietta, Ohio) 1895-1906, 1901-03-12


country, started to interest capital in
the deal which he has just succeeded
in consummating. 1t has taken the
Ohioan Just four weeks to complete
the details and father the capital nee
essary to float his scheme. Regard.
ing the company and its objects Mr..
Mercer said yesterday:
1--WE will bore for oil in Louisiana
and Texas and expect to transact bus
mess in the product on gigantic
scale in the South. The people gener-
ally do not understand that these two
States have as much oil underneath
them as may be found in Ohio and
Pennsylvania.
"'rhe fact of the matter is, the oil belt
has been demonstrated by engineers to
lie in a southwesterly direction, or on
a 45-degree line south from the produc-
tive fields of Ohio. This would make
the western portion of Louisiana and
the eastern end of Texas directly over
the belt. We are so confident of our
ability to strike all the oil we shall
want, that we formed company with
$3,0O0,O00 fully paid up capital to pro
mote the undertaking of sinking wells
and to conduct the preliminary work OF
launching our business in the CONNER
cial world.
I'VE expect to be able to produce oil
more cheaply than it is now produced
in either Ohio or Pennsylvania We
shall have shipping facilities afforded
us in New Orleans and at Galveston
or Port Arthur that are far superior to
those enjoyed by the northern oilme1.
I'VE intend to make this city the oil
market of the world, if our plans do
not miscarry, and there is no reason in
the world why they should. We have
the capital to promote the undertaking
we have in view, and more money viii
be forthcoming if more is needed to
carry on the enterprise.
I'VE are basing all our calculations
on striking fuel oil If lubricating oil
is discovered it will prove of greater
value, of course, to the company and
to the commercial interests of the
South
1--WE are planning for the disposition
of fuel oil, and will be able to compete
with the entire world in that product
We will not only supply all availablr
points in the South and on the Atlantic
coast. but will ship the product to all
European and South and Central Am
erican countries.
Discovery of oil in the South has
been slow in coming, but now that the
age of discovery has arrived it will
come with vengeance. The excite
ment of the discoveries made thus far
in Eastern Texas are mere ripples on
the commercial horizon, compared to
the enthusiasm that was displayed in
the days of the discoveries in the Penn
sylvania oil fields. Comparatively few
people in the South. and fewer still in
the North. realize yet that oil is as
plentiful in this section as it lis in the
States in which the product has been
obtained for years.
The officers of the company are:
T. R. CLANCY, president, Hartford,
Conn.
A. j. Wick, Houston, vice president
and general manager.
w. B. Chew, president Commercial
National Bank. Houston. treasurer.
Directors: Henry G. Butcher, presi-
dent of Southern Cotton and Oil Com
pany, Philadelphia.
John W. Castles. president Hibernia
National Bank New Orleans.
A. p. Sauer, manager Southern Oil
Company.
James A. Baker. Jr., of the law firm
of Baker, Bolts, Lovett & Baker, Hous-
ton.
Hon. j. C. Hutcheson, lawyer, Hous-
ton.
A. j. Mercer, Marietta, o.
J. M. Chittim ranch and live stock
broker San Antonio.