New-York tribune., 1917-12-23

valuable assets for these new com
panies. even though their properties
are located hundreds of miles from the
gushCr territory. There is no such
word as fail with these companies
They are all making rapid strides
and accomplishing the seemingly i'm
possible" as one Of their prospectuses
announces. In sixty or ninety days
the company will be able TO pay 100
To- 900 per cent, and els willing TO
share this good fortune with the small
Investor None Of the proposed wells
are yet completed, but that does not
prevent the assurance that within a
few months gushers will be struck
which will advance the stock several
dollars per share
zone Of these glowing prospectuses
refers TO a legend of a tremendous
lake OF oil that is feeding the fields
Of the Gulf coast and Mexico. yet so
concealed ss to defy all efforts Of men
10 detect it, But the writer nullifes
this statement by the announcement
that he has discovered hermit I'm
Texas who knows where this lake OF
oil is, and the company has obtained
his services. When this underground
lake Cf oi. b., struck. 'our earnings VIII
be far beyond our fondest dreams
They certainly will. But why call on
the people 90 buy the stock when there
ls such sure prospect for those who
arc i'm the secret? The explanation is
simple. 10 is necessary to purchase
the land under which this great lake
of oil lies, and TO purchase IL at once.
Hence, money IS needed. II the public
fails TO buy the stock now some other
person may stumble on the secret and
the advantage be lost.
Another company. drilling some 500
miles from Texas, calls for subscrip-
tions 90 stock because a 40.000-barrel
well has been struck at Sour Lake.
The tale Of this strike is lurid one, as
related by the publicity agent of the
company. A tramp was thrown from a
freight train, and compelled TO walk
the ties 70 the next town. In his pocket
he carried a wand, which would reveal
the hidden secrets of nature. On his
tramp he felt the rod turn, and at that
point he began drilling a well. having
by some unknown means obtained the
necessary finances The result il told
in the following brilliant descriptions;
Then as the lone drillcr patiently
Ilastcl away Gay IN, uay OUT, getting
sluggish and heavy-hearted as the wear
ing hours dragged suddenly. in the edge
Of the evening. as the crimson sun burned
behind his banners. throwing a reddenrg
glow over the prairie the driller heard
rumbhnc and a grumbling, then the hiss
ing Of gases. then the riC and drill shot
upward and the 0.000-barrel-a-day gusher
tore loose, pouring undreamed-of wealth
into the lap Of the patient driller.
"How the driller got safely out OF
that rig which shot upward and how
large a lap he had to hold that un-
dreamed of amount Of wealth. is left
70 the imagination, but there is no
Imagination in the call for the public
to take advantage of subscribing at
once for the stock Of company which
will surely strike just as large q well
Within q few days-Or weeks.
There arc oil companies. many OF
them. which have substantial proper
ties and good prospects back Of their
These. with good man
apement. are likely 70 prosper, but the
hundreds that nh their prospectuses
with tales of wells hundreds Of miles
from their location. or talk largely Of
the fortunes made in the past. should
be passed over by the public"