The daily palladium. [volume] (Richmond, Ind.) 1904-1905, 1904-09-06
WAYNE COUNTY
OIL FIELDS
A STRONG COMPANY ORGANIZE
TO DO BUSINESS
WITH $4,000 CAPITAL
Some of Richmond's Best Men on the
Directory-The Future
Prospects.
WITH $4,000 CAPITAL

has departed from its Well known Gus
tom of letting the other fellow do the
wildcatting in this prospective oil
field has created much interest among
oil men in various parts Of the coun
try.
The agents of the Standard Oil Co.
secured as many eases as were pro-
durable on lands in this territory upon
the pro rata basis. Failing in that, the
agents offered cash payments for leas-
es with the royalty proposition tackled
on, and today there is lively compe-
tition to get leases on almost any
terms demanded by the land owners.
The activity Of the Standards
agents attracted other oil magnates,
who Immediately got busy canvassing
for leases, with the result that COM
petitive tactics have been adopted
and land owners ave grown very
wise in the western part of this
county, where a new oil field is in
prospect.
While it is true that practically all
the land in the immediate territory
covered by the gas discovery has been
leased, yet the fact that the first well
to be started for Oil is at least three
miles outside Of the defined limits
adds Importance to the situation, for
should oil be found in the first we'll,
which is three miles north Of the gas
territory. all lands adjoining will in
stantly become valuable beyond pres
ent estimate.
Real estate lying within the gas
territory has advanced in value S. to
$40 an acre within week. Some sales
which were almost effected have been
declared off until the result of the
drilling now going on is made known.
Everything at present here is in a
speculative, or rather prospective,
condition, awaiting the news from the
wells now going down.
While the big companies We're the
first in the field and started the move
ment of leasing land. Wayne county
people were not slow to discover the
prospects for reaping rich harvest.
Almost Immediately a strong COM
pany, composed of some Of the wealth
lest and most conservative business
men in the county, was organized I'M
der the name of the Cambridge City
Oil company with capital stock of
$4,000 and the following officers:
DR.. J. R. Mauk, president.
James A. Boyd, vice-president.
w. F. Medsker, secretary.
John X. Smith, treasurer.
The directors are George H. Knoll
lenberg, B. F. Wissler, Adam H. Bar
tel, Eli Keith, William WINNER, J.
R. Mauk, George w. Drischel, John
X. Smith, Daniel E. Petro, NJ L.
Young, Philip Franzman, William
Creitz, J. w. Judkins, J. M. Inger-
man.
+ Executive committee: William Vim
mer, George w. Drischel, B. F. Wiss-
Ter, James A. Boyd and John w.
Judkins.
The company will not be behind
hand in the amount of land controlled
for, anticipating permanent organi-
zation, a number of the men mention
ed quietly went about and secured
leases on some of the most promising
lands in the territory.
The directors contracted for a we'll
to be drilled on land Immediately east
Of the corporation line of Hagerstown
owned by Allan Pierce. Drilling will
begin this week. A number of town
lots have been leased, and should oil
be found in paying quantities the
town will fairly bristle with tall der
ricks.