Los Angeles herald., 1910-10-31
PYRAMID ROUNDS our
SUCCESSFUL FIRST YEAR
Company Organized II Months
Ago Brings in Several
Profitable Wells

The Pyramid Oil company, with
offices in Los Angeles and San Fran
cisco. is celebrating its first anniver-
sary in view of the fact that 1t has
made a pronounced success in every
thing undertaken in the twelve months
of its existence. In that time there
were issued 100000 shares of the lOOO,-
900 capitalization. The company now
announces that the stock will advance
from rs cents to 81 a share.
G.. S. Johnson, president of the COM
pany in an announcement, says:
"On October IS, 1909, the state OF
California issued charter authorizing
the Pyramid Oil company to transact
business as a corporation. That char-
ter was it's only asset.
To-day the Pyramid Oil company is
one of the big operating oil organlza-
lions of California, is producing OIL,
is now drilling five wells and prepar-
ing to drill several more at an early
date, and is in possession of properties
and tangible assets that we regard as
easily worth intrinsically Mt this mo
ment, not less than $1,5O0000.
"WhiIe the growth of the past year
has been very satisfactory indeed, the
Pyramid company has during that
time been passing through what we
MAJ Scall a formative period. Now we
enter upon our second year of cor
porate existence with nearly 1900 acres
of proved oil ground in the richest oil
fields in the world, and I am sincerely
confident that the development cam
paign outlined for the coming twelve
months will by the expiration of that
time make the properties now in our
possession intrinsically worth at least
$4,000 900. Moreover. 1t is highly
probable-in fact certain-that during
the coming year other valuable prop
critics viii be added to our holdinRs.
1.-THE above statements constitute a
brief outline of the past. present and
near future of the Pyramid Oil com
pany. Now as to the why and where
fore of these facts and figures.
"For many months pri to the IN
CORPORATION of the Pyramid Oil COM
panv we had been studying the oil in
dustry as a whole, and with reference
to the oil fields of California in par
ticular A considerable boom had
been brewing in California oil for
year or two, but we have seen booms
before. and while we have learned that
booms are generally based upon some
unusual condition worthy of consld-
Grafton. we have learned also that they
are like dynamite-very dangerous
unless carefully and skillfully handled.
we 01u NOT, lHtTtlOlNF hesii ''N''N'
into an unknown sea without first
sounding it's depths.
ARRIVES AT CONCLUSIONS
"During these months Of considera-
ton prior to the Incorporation Of the
Pyramid company. however we had
arrived at several definite. positive
conclusions. These conclusions were
about as follows, and they are worthy
of the thoughtful attention of every
Individual into whose hands the
Progress Report falls:
'First-That the Importance Of crude
oil and its byproducts was becoming
greater and greater every. day ana ,
that the oil industry occupied posi-
ton of very highest Importance IN the
commercial world.
"Second-That the oil fields of Call
fornia were. beyond peradventure. the
richest in the world. Few of those
who have gone into the oil business in
California during the past two years
Alhave looked beyond these two basic
It's. and though they are of utmost
portance there are others Of equal
bortance.
bird (this is a double-header)-T
road leading to success in Call
MIA oil was by no means pathway
,wn with roses and an easy down
de. but that it was full of obstruc-
BIS. hindrances, delays, ueaoldils
M an uphill pull all the way; but
ke this welD that the operation of
ssfornia oil properties, declared by
Nv to be speculative and uncertain,
Reonducted upon right principles,
Ag right lines and upon large
Ii was not speculative at all. and
inst as certain to be profitable as
raising of wheat or corn or the
Quoting of bank, or the operation
9TH
th. The above statements may seem
Ibnsistent, but they are not in the
If. THEIR entire consistency and
thfulness arise out of the fact that
results to be obtained from the
ling of any one well cannot be
btold with certainty, because.
bugh some mechanical fault, well
Y be ruined just about the time II
Md be completed, or through some
xplicable geological freak or peculiar
sck Of nature a we'll drilled in really
od oil territory may not be salts
actorily productive. Should n COM
koanv or an individual of limited re-
sources encounter such conditions as
Inst mentioned they would be em-
Eparrassed and the project fail. But II
. company or an individual has large
resources. carefully selects several
good oil properties and drills many
wells, chance is absolutely eliminated
and success is as certain to be the net
result as time is to continue.
"Fourth (this follows naturally the
above explanation)-Tha to be abso-
= sly certain of profitable results In
n, toperation of California oil proper
ties. many properties must be operated
nv and for one company, and many
wells drilled by that company. In a
word. operations must be conducted
IN large scale. The law of average
must be reckoned with. Numbers
eliminate chance.
''Fifth-That operations in the oil
Acids OF California along the lines
above set forth offered greater GER
taintv and a vastly greater margin
OF profit than any other business with
which we have ever come In contact
anywhere at any time"
TWO PROFITABLE WELLS
coALINGA, oct. S0-Well No. 65 of
49, " n and O on 31-20-15. which was