Los Angeles herald., 1910-08-29

ground.
of which was paid to local parties in
Coalinga field who had obtained an
option on the property disposed of to
Preston.
ISSUES CATCHY PAMPHLET
when oil was struck, quite an.elab-
crate pamphlet was issued by the COM
pany, upon the cover of which ap-
.peared the following: One Of the big
money makers which does it's part 20
roll up millions of earnings of Cali
fornia Oil. The successful Coalinga
Aladdin Oil company and within,
such statements as the following: We
predicted we would have a 300 to 500
barrel we'll. The we'll came in easily
thousand barrel we'll and prior to
the present alterations which are be-
ing made to increase it's production
looked like a sure producer of 500 bar
rels.' Still, the total production from
this we'll according to the sworn tes-
timony of those who are thoroughly
familiar with its history, was not per-
mitted to exceed in the neighborhood
of 100 barrels, when it was shut off
for the alleged purpose of drilling to
oil sand of greater production.
"Under date of February 13, 1909,
the New York Sun in an endeavor to
ticle under the designation-'Burrs still
use the mails-Coalinga Aladdin COM
pany is the latest wheeze,' and dilat-
ed to such an extent upon their meth
ods and operations past and present,
that If afforded considerable circula-
ton, it would seem that eastern 1nyes-
tors had fair warning as to both this
and the Peoples Associated Oil com
pany; but under date of February 20,
fhannV' n
nouncement to a prospective purchaS-
er of stock in New York city that
We are financing the Coalinga Alad-
din company, and have sold up to date
nearly 100000 shares of this stock,
which seems to remove any possible
doubt as to raising sufficient money
to complete the first Well
BIG STOCK FLoTATION
ION November 1, 1909, or about nine
months afterwards, in addressing
prospective investor at Coalinga in re-
gard to a further 100000 shares to be
sold, it is stated-This additional 10O,-
900 shares will be sold by Burr Bros
by means of newspaper advertising,
Indicating quite an intermission in the
sale of Coalinga Aladdin stock dur
ing the time mentioned, the 100000
shares having been sold within such
a short time after the organization of
the company as shown in the letter of
February 13, referred to.
Further, under dato of July 20,
1910, S. C. Burr, from Burr Bros New
York office, issued a statement of the
affairs of the company from the be-
ginning, showing how the treasury
funds have been expended and stating
that it has been definitely decided to
abandon we'll No. and drill second
we'll. the estimated cost of which is
placed at $4,000; and, the company
being absolutely without funds, that
amount of money can only be raised
by the sale of stock, in view of which
it has been decided to offer to the
present stockholders sufficient al
iotment of the treasury stock of, the
company at 10 cents share to raise
the desired $25,000.
"Still under date of March 81, 1909.
they state: The Coalinga Aladdin is
down $50 feet SO far as the
treasury balance is concerned the COM
pany has ample funds to complete its
first we'll, so that those who have pur-
chased this stock may rest assured
that this one small element of chance
has been entirely eliminated
SEND STOCK TO AUBURY
''In connection with this company it
Is requested by the state mining bu-
redu LIaI hll SLOChilOluSlS IllAOhShOuI
the country holding Coalinga Aladdin
oil stock send to the state mineral
ogist at San Francisco at once COM
plete data in regard thereto, including
the date and number of certificates
and amount of shares held.
1.-THE Consolidated Oil company. or
ganized under the laws of Arizona,
with s. c. Burr, president; E. w.
Preston, vice president, and G. Fl.
Tobey as secretary and treasurer,
drilled one hole on government land
outside proved territory to a depth of
1900 feet and struck water. While ap-
parently abandoned the rig and entire
equipment remain on the ground and
the present superintendent Of the COM
paliy claims he is still working on the
hole.
''Thls company was exploited in the
following language to a prospective
buyer of its stock residing at Coalinga:
"'I1et us say but word as to pos
sible and probable profits to be de-
rived from this enterprise 100 acres
one we'll to every three acres-63 wells;
estimated life of wells ten years; es-
timated production daily, 300 barrels
each; actual market price OF oil in
storage above ground So cents per
barrel.
'Recapitulation: So wells-3OO bar
rels each per day-3650 days-$4S, ,450,-
$780,
"The Coalinga Crude Oil company
incorporated under the laws of Ari-
zona for $4O0 600, and the last of Burr
Bros. projects in the Coalinga field is