The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-06-14
SATURDAY. JUNE IA. 1902.
WILL START
SOON
The T'Chetimachas Oil Com
pany to Resume Work
Shortly.

The TChetimachas Oil Company
Ltd, will resume boring operations
very shortly at its we'll on the Del
haye plantation, in Clarendon. This
determination was arrived at last
Saturday morning when Mr.. j. W..
Jones, of the Beaumont and Jen-
nings oil fields, appeared before the
Board of Directors in meeting as.
sembled at Franklin and made them
a very fair proposition TO bore the
we'll. Mr.. Jones is driller of much
experience. He his connected with
the Jones Developing Company, of
Beaumont, firm which has brought
in seventeen gushers on Spindle Tep
and also the three gushers at Jen-
nings. He came here on invitation OF
Messrs. Martel and Delhaye to in
vestigate the conditions at Charen-
ton and after a trip to the we'll, he
was SO delighted that he decided 10
make the company bid for the
work.
The board was hastily summoned
together to discuss tue situation with
him. He made them frank state.
ment of the conditions as lie found
them and ended by saying that in
his opinion the chances for striking
a gusher at Charenton were very
good. He was asked to give rough
estimate of the cost Of the well, bor-
ing from the present depth to 1900
feet, and he replied that with the
machinery and pipe already on the
ground and without serious accidents,
he thought that $4,000 would be
more than enough to complete the
we'll, but under fair conditions he
does not think the we'll would cost
that much. His clear and frank
statement produced quite favor
able impression OH the directors and
some of them were willing 10 give
him the contract at once. After de
liberating over the matter, however,
it was deemed best to issue a call for
general meeting of the stockhold-
ers to take place at the Firemen's
Hall on Wednesday of this week at
10 o'clock. Mr.. Jones was induced
to be present. The purpose of the
meeting, as stated in the notices, WAS
to devise and provide means for tue
continuance OF the work at the we'll.
Although the weather was ex.
tremely hot, quite crowd of stock
holders assembled at the hall in obe
dience to the urgent call. In The
absence of the Secretary, Assistant
Secretary Martel called the meeting
10 order. Senator Caffery, in the alb
tence of both President Bonvillain
and Vice.President Allen, was called
upon to preside as chairman. MIR.
Ca1ery explained tue object Of the
meeting and after roll call, resolu..
ton providing for the reduction Of
tue capital stock of the company to
$40, 900 was introduced. The names
: attached to the resolution we're read
and it was ascertained that three.
fourths of the stock issued had sign.
ed. The chairman then announced
the result.
The matter of perfecting the or.
ganization consumed much time.
After this matter was disposed of
Mr.. Jones was introduced and asked
to give his opinion of the chances of
finding oil at Charenton. He made a
correct statement of the conditions
as he found them and reiterated that
it was his firm belief that the com.
pany would find gusher there at
about the same depth as at Jen.
nings, he also figured on the proba-
BILE cost of the we'll and was liste ned
to with much attention. He created
afavorable impression upon all those
present.
Senator Gallery thanked the gen.
tleman, and then made q little ad.
dress which should stimulate the
people Of the parish to do all in their
power to help the enterprise. He
pointed out that the discovery of oil
in great quantities would benefit the
whole parish and be said that every
one should contribute 10 this great
cause. His remarks, delivslsd 10 his
usual eloquent and impressive man. |
ma, were loudly applauded.
Mr. Bell then exhibited . list
which b had circulated among tho