The Hawaiian gazette., 1910-04-15
A NEW OIL COMPANY.

n N6NN WILL O0AAA4 fAAN
Stock subscriptions are being receiv
ed for a new oil company, the Huma-
una OIL Company of California. The
company is incorporated for 100000
of which $4,000 worth of stock viii
be disposed of at this time. The
money realized will be used to secure
title to oil lands in California and to
sink wells. The remainder of the
stock will remain in the treasury and
will be available only for the acquire
ment of additional territory.
e 1t is planned to dispose of $35O,oOO
worth of stock here and local men
will form the directorate of the com
pany, according to the fiscal agent.
| The skeleton company holds an OPP
ton on some valuable oil lands in San
Luis Obispo county, California. These
lands are located in close proximity
to some of the richest producing wells
of the golden State. new oil ven.
ture is always more or less Of a gamble
but the proposition offered looks prom
Using. Captain Matson is one of the
owners of the land on which the com
pany holds an option and he is heav-
lily interested in oil lands in the dis
trict
Very prominent local capitalists
have subscribed to the stock.
NH 81 =
of the company:
"The Humauma Oil Company has
been organized for the purpose of tax.
ing over an option on, and the pur-
chase and developing of, 500 acres of
land located in Townships "a and 81
South, Range 81 East, Sections 2, ID
and 50. =,
"'rhe Company has entered into an
agreement with w. G. Uridge, ESD,
the present holder of the option, to
take over the same and purchase the
land (Which is U. S. patented or fee
simple) and sink at least two wells.
These lands are listed by the United
States government geological survey
to be in the ell belt and reports by
!. Experts Sperry and Mcmillan declare
the lands to be oil bearing of great
prospective possibilities.
"The company is capitalized at
$1,000,000 represented by 1000 900
. shares of par value of 800, and for
the present only 375,O00 shares will be
! issued. Twenty-Five thousand shares of
4 this will be paid to Mr.. Uridge as part
. of the purchase price, and 100000
! shares will be sold at fifty cents per
!. share, or $4,000. OF the $4,000 re-
!. allied from the sale of this stock, $l12,
|. 600 will be paid for the deed to thu
/ land and $4,000 set aside forGthe Dor
ing of two wells. About $4,000 will
J. be used for the erection of tanks and
;, buildings, $500 for building and re
+: pairing a road to connect with the
y county road to McKittrick and tbs
J, balance will remain in the treasury u
: the company. The price to be paid fol-
d the land-$140 per acre-is very low
J, considering the possibilities, and let
l. ter from Capt. VIM. Matson hereto ap
'. pended, will show what may be expect
J. ed from EXCHANGED value should oil a.
l. paying quantity be developed in tn,
I two wells of the company.
:. "In addition TO the 800 acres above
u mentioned to be purchased, an option
r for one year on 500 acres more of con
+ tiguous land is secured to the company
!; upon payment of the purchase price Of
e, the 500 acres. The additional land will
g, be of enormous value if oil be strucl
l. in the two wells provided for; and a
j. the price to be paid for the SECOND
3, body of 500 acres is but $3.50 per acre
n or 100000. possible profit of severa
=; millions of dollars may be made OIL
"a the same.'
ID The following open letter from Cap
Q, tain Matson is appended:
ID December 2s 1909
Y civilian Matson, 26S Market Street
Z San Francisco.
R. "To Whom it May Concern This i
T TO certify that the Vishnu Oil Com
I. pauy's property is U, S. patented Ian
r. with good title, as far as I know; tina
8. it is in the oil belt and has been re
k. ported to me to be a good-looking OF
q territory
ave sunk well on the property
h. starting with handrig, and went to tn
n depth of abont 1900 feet, where W
rs struck oil sands producing high grad
~ oil
+. AS 10 the general value of oil lnnt
" ] have been offered 100000 for 10
%. acre piece in the Midway field. whic
~ offer 7 refused. The value of oil land
m vary, as ii is difficult to give any de-
70 mite estimate.
r. "(Signed) VIM. MATs0N. -
The subscription list for the HUM
nina OIL Company is at the Office Q
Harry Armitage and the prospeetl
an ears the signature of Mr.. Armitage.
q ANOTHER RUBBER SCHEME.
n Another Mexican rubber enterprise
~ being offered 10 the Ieople Of Hawa
10, for consideration, The concern, which
r..
Ill ,rav nnria Anil IN l. Alma MI