The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-11-08
WARNING AGAINST WILDCAT OIL
COMPANIES.

The wildcat that infests the mining
districts of the west is tame and
tractable animal compared with the
beast that roams the oil fields Of Wyo-
ming and other western states. His
operations have spread to such, wide
territory that it is time that the pub
lie, particularly those people who have
small funds which represent the slow
accumulation from wages through
thrift and economy, should be warned
of his stealthy habits as a protection
against becoming his victims in the
purchase of shares of worthless oil
stock. That there are numerous oil
companies which are controlled by
reputable and responsible men, and
which will spend the money received
from treasury stock in bona fide eff
fort to strike Oil. and with reasonable
prospects of success, does not admit
of doubt. They adopt the same sys-
tenn that has resulted in the accom-
plishment of much valuable develop
ment Of the resources of this and 9TH
er mining districts, and they are do
ing the same thing for the oil regions.
Their work is perfectly legitimate and
the man who has little money that
he can afford to lose is fully justified
in placing 1t with such companies,
having satisfied himself of the relia-
bility of the company and that it's
holdings justify reasonable expecta-
tion of striking OIL But there are
hundreds of Oil companies now run
ming newspaper advertisements con-
tanning the most exaggerated and pre-
posterous statements regarding their
holdings, and flooding the mails with
similar announcements and absurd
claims with the view to inducing the
unthinking to part with their money.
Denver is the great headquarters for
these companies and their holdings If |
they have any, are generally describ-
ed as being in close proximity to some !
of the well known flowing wells of
Wyoming, Kansas or Oklahoma. So |
brazen and fragrant have. become the
operations and manipulations of the
promoters of these wildcat companies
that the mayor of Denver r. w.
speer, has felt 1t his duty to sound a
warning to the public as a protection
against these fake and wicked promo
ions. AS the oil wildcat roams over
many western states, including Idaho.
he warning from the mayor of Dem
'er Is here reproduced for the benefit |,
# the people of this state: L
The city has been requested to leg t
slate against the sale of fake oil "
tocks in Denver. but I know of no o
way in which we can separate the t
God from the bad. &
THE fact that number of COM Il
anies have been successful in strik- "
lg oil in Wyoming and paid hand n
ONE profits has induced many per- p
ons to try their luck in that direction. +,
he oilfield promises well for intelh- "
emit development, but it has attract ia
! number of promoters and stock II
who have leased tracts of d.
ND, incorporated companies for hun ST
eds of thousands of dollars, and M
it'll glowing promises have induced in
rye number of our people to invest IN
cir savings in worthless stock. Many da
these companies are not boring ur
Ills and haYe no intention of doing oh
Some advertise new wells com ia
: in which are ten to fifteen miles to
'ay from their holdings Stocks are co
osted in some cases by selling at an
prices, from one promoter tn,
another to catch the unwary. The ed
sire to get something for nothing thf
J caused many persons to lose their hir
cal
Let me urge that you make no in TIL
tments In oil stocks without full Tilt
and that you do not in sta
t more than you can afford to lose, VIII