Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-03-13

AAONOu thO III ming Il6 uScu Was HOY
suitable for the Hob formation, that
the ground was soft and that com
bination rotary rig would serve the
purpose best He said more money
was needed and said he thought it
could be procured by the larger hold
ers pooling their stock and turning
the control of the company over to
people who would continue the WORK
to depth of 5000 feet. He said the
big stockholders would do this and
the smaller stockholders be protect
ed.
Middleton's Plan.
A. w. Middleton, treasurer and di.
rector, said the plan suggested by
Crary could be tried and that he was
sure the large holders would consent
to it. He said sixty days should de-
termine whether it was feasible to
turn control over to oil men who
would continue the work, pay off the
Indebtedness and sink the well.
But" said Mr.. Middleton, 1T this
plan does not go through, the direct
ors and large stockholders will take
the bit out of the we'll, continue the
drilling and go as far as their means
will let them"
Mr. Middleton made it plain that
the work would 60 on either by turn.
ing over control of the company or b.
the directors and others putting up
the money. His remarks were greet.
ed with applause.
Patterson Talks
A motion was made by e. A. Lalk
to express a vote of confidence in the
present management of the company
and proceed to the election of q
board of directors to serve for the
ensuing year. This motion was about
to carry when w. j. Patterson took
the floor and put a little pep" into
the proceedings. He said:
"T am not satisfied with this meet
ing. 1t is going off too quietly and
with too little expression from those
present. l have heard on the streets
number of criticisms of the way
things have been handled and many
disagreeabe things have been said
These officers are personal friends
of mine. but believe that now is
the time to fight the matter out.
81 became interested in this com
pany at the instance of Mr.. Middle
ton. I went into it with wide-open
eyes, knowing my money would be
lost unless oil was found. Nobody
ever guaranteed to me that oil
would be found.
"Crary has always been optimistic
and is optimistic now. do not
believe a. deal can be made and
money raised by pooling the stock OF
the larger holders, as has been sug
gested.
"But the we'll should be completed
and I for one stand ready to put uI
my share with the rest of the larger
stockholders. The stock is not worth
cent and never will be worth cent
unless oil be discovered, in that case
it will be worth money. l car
better afford to lose than many I sec
here and l am willing to stand my
share of the cost of continuing work
81 know these men to be honest
and conscientious. A committee says
the money has been we'll spent
Crary has never received a cent fo'
his services. Neither have Middleton
or Miller, and they have all worked
hard, especially Crary. If this WORK
is to continue we must all have con
fidence in them, and if you have any
thing against them jump up and tel
them about it.
"Mr. Crary speaks about the small
stockholders being proteced. wan'
him to say what he means by tina.
1t sounds as if their money was tt
be returned and l don't want any
body to leave this hall under thai
impression"
Crary Explains.
II didn't mean the money woult
be returned. What I meant was
that in the event of pooling the small
stockholder would not be expected
to put in his stock. Nor is he eX
pected to put up any more money
If oil is discovered he will share II
the profit without further expenditure.
Should Have Pride.
J. s. Waugh, the merchant, sale
the people of Aberdeen should have
pride enough to put up the money