The Detroit times., 1910-01-18
BUYING OIL STOCK
IS PURE GAMBLE
California Alberta Co. Hasn't Even
a Well, Yet Is Milking Detroiters
of Hard Earned Cash.

Apparently there are plenty of peo-
pie OF moderate incomes In Detroit
who are willing to give up real cash
In the bank, earned or inherited, for
paper shares OF stock which may or
may not ever be worth anything. This
supposition may be deduced from the
fact that Toronto broker has found
IL profitable TO continue advertising In
certain Detroit newspapers, spending
hundreds OF dollars for advertising
space and even increasing the size of
his ads.
II is the man or woman with a lit
tie money 10 invest who is reached
through bonanza advertising of this
sort. And the history Of such bonanza
offers is that very few persons get any
large returns. The man of wealth anu
experience Is able to hire experts, TO
get In on the ground floor In such
companies as have real prospects, and
he does not interest himself In mining
!, or oil advertisements Offering great
returns for little money ,'s,'
! The California-Alberta Oil Co., the
stock of which is being offered in this
way, has been touched upon before IN
The Times. A full perusal of the lit
erature sent out by IL to persons ask
ms for particulars discloses the fact
that even the promoters realize that
their proposition is only gamble The
following contrasts between the state
ments made b. the company itself and
the advertisements OF the broker are
interesting. This wonderful indus
try may be your opportunity-thc
chance you may regret If you allow II
m cl hu ho
I'VE do not guarantee that we shall
strike oil, says the company.
mo doubt but that the oil fields
north Of Edmonton will be the greatest
and richest in the world and the reve-
nue. and dividends which will be pail
from them will make many. many peo-
pie rich. wealthy and happy states
the advertisement.
I'VE cannot guarantee you anything
except q square deal we appeal
to the man who can afford the posi-
bic loss Of speculation" states the
ccmpany's prospectus.
Even the broker covers up possible
future consequences when he says, ut
would be worse than folly for me 10
tell you that shares in the California
Alberta Oil Co. will make this won
derful increase or In fact to make
ANY POSITIVE STATEMENT as TO
what they would be worth year from
now"
Yet a great many people must have
paid in the money that they have
worked and saved to get or else the
broker could not afford TO run the ex-
pensive advertisements which sell
these shares which he will not even
promise will have any value.
The situation with regard TO this oil
field, as shown by the literature issued
by the company itself is that there
are traces OF oil, asphaltum and
natural gas In vast stretch of coun-
try in northwestern Canada. One COM
peny In this district. approximately
In size of one of the peninsulas of
Michigan, has struck oil in paying,
though not remarkable. quantities.
The California-Alberta Oil Co. has
oil rights on six pieces OF land in this
district. IL has no wells, according 10
its own statements; II has no assur-
ance that it ever will have any oil.
except that the appearances on the
surface, 1.400 feet above where the
oiibearng rock strata might be. are
similar to the appearances in certain
parts Of California where oil has been
found.
Inasmuch as it often happens. even
In fully developed fields. that tract
or one side of the road may have oil
and the farm on the opposite side not
even a trace OF petroleum. the pros
poets OF big returns from these six To-
cations in the Canadian wilderness
can be easily estimated. Every test
we'll will cost money! great deal of
money-and, II there should be oil.
the investors will get a portion OF the
returns. the promoters and broker the
rest
II is far from an alluring prospect to
anyone who is even remotely familiar
with oll-drilling conditions. but II
seems to get the money. perhaps the
money Of those who can least afford
to gamble In such an uneven game.