The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-01-11

AAS uASSSlue3 Wdo IClu lOI
the purpose of electing officers in the
company, and considering plans for
the incorporation of the firm.
1T was decided that the company
should seek incorporation under the
dominion laws. and an application
will be made at once to the federal
government for a charter. The COM
pany will have an initial capital of
$5,O0O,0O0 and will have headquarters
In Winnipeg. The firm, which is to
be incorporated under the name of
the Athabasca Oil and Asphalt com.
pany, is being organized for the pur-
pose OF developing the oil and asphalt
fields i'll the district of Athabasca.
The election of officers resulted as
follows:
President, E. F. Hutchings, Winni-
peg; vice presidents. MIR. Leistikow,
Winnipeg; A. Won Hammestein, VIM
nipeg; George H. Ruth. Marshalls-
town, Iowa; secretary-treasurer, Ar
thur Stewart. Winnipeg; provisi&Aal
directors, John Calf. Thomas Kelly,
w. j. Christie, Senator T. o. Davis.
Robert Jones. Chicago. Illinois. and
J. w. Taylor, Minneapolis. w. R.
Mulock. K. c., was elected legal ad-
wiser for the new company.
A. Won Hammerstein, to whose
energy and perseverance the discovery
of the asphalt and Oil tracts was due,
was present at the gathering ana told
of what he had found in the Athabas-
ca district, and the wonderful possi-
bilities that existed for development.
Mr.. Won Hammerstein has been in the
Athabasca district for close upon
eight years. and while there discover
ed vast areas of petroleum and as
phalt lands.
The dominion government provided
$50, 900 for the purpose of exploitation
in the Athabasca country, but to Won
Hammerstein belongs the honor of
locating the asphalt and OIL Mr.. Won
Hammerstein, with a large party of
men. has operated in the Athabasca
country for eight years, meeting many
hardships, and losing three of his
ated four immense derricks, and
reached a depth OF $500 feet before
his efforts were crowned with sue
cess. Mr.. Won Hammerstein has sue
ceeded in finding fourteen oil wells,
in which oil in abundance has been
found. The dominion government last
year. acting under the laws as at
present existent. sent experts to the
district to verify Mr.. Won Hammer
STEMS discoveries, and the report
presented bears out in every respect
his contention, and eight of the wells
are certified to produce oil to such
an extent as to be commercially val
liable.
The new company has taken over
all the work done by Mr.. Won Ham,
merstein. and has decided to give him
sum. said to be one million dollars,
for his previous services. Mr.. Won
Hammerstein in addition retains a
i large interest in the new concern.
! Plans Of Development.
The company's main fields are at
Fort Murray. some 400 miles from
Edmonton. The Waterways and Ath-
abasca railway is now being built
into the company's property at Fort
McAIurray. and it is expected this
road will be completed in three years.
In the meanwhile the new concern
will proceed to erect refineries and
the other necessary buildings, and as
soon as the railway is i'll operation
to Edmonton. will be in the market
with petroleum, the residues and as
phalt. The company intends to supply
petroleum and asphalt to Canadian
towns. at price as yet unheard of
in Canada. and will thus make it pos
sible for western cities and towns
to put down permanent pavements at
a low cost for the raw material. NAL
ia will be procured in large quantities
and shipped east. as we'll as the finest
grade of lubrcating Oil. and the CON-
pany hopes to be in the market with
a produce for pavement which will
easily compete with the products now
being shipped into the country from
Trinidad and Mexico. Active opera
tions will be commenced at once.
! The gathering of financial men
which met yesterday at the Royal
Alexandra hotel is said to have been
the strongest that has ever met to-
gether in western Canada. and revo-
luton in the lighting and paving of
the cities and towns in the west, is
expected to result.