Daily capital journal. (Salem, Oregon) 1903-1919, 1918-03-05
(Taken from the Oil ana Mineral Jour.

| (Taken from the Oil ana Mineral Jour
nal, Billings, Mont, January 28)
/ The Liberty Oil and Gas Company s
officials are jubilant over the report
from their well No. 2, at Elk Basin,
and well they need be. This company
has ia acres in the Elk Basin oil fields
and are drilling IL close proximity of
1 producing wells in this national-known
oil field. The Elk Basin for the year
just ended produced over $25,000,000.
/ The Liberty S Wen No. 2, IS down to
a depth of over 1000 feet and the in
dications of oil are strong. Judging
from the formation of the oil sands, the
company viii not have to go over four
or ave hundred feet to strike the first
oil and when this is encountered the
company will certainly be in the game
strong. The acreage that they have
guarantees putting down several hund-
red wells on their own holdings and Sc
cure producing wells for years, fact
that adjoining territory would soon be
''milked dry by companies operating
in their vicinity.
! The Liberty company, like all good
substantial companies, do not believe in
having their "eggs in one basket" and
have secured over 10000 acres of leases
in territory that has oil indications, or
in proven territory. ney have four
Standard rigs at work in four separate
fields and viii start other rigs in the
near future. They hope to be able to
put down forty or fifty wells during
| 1918. When seen at their new offices
in the Northern Hetel block this week,
the manager, Mr.. George C. Chrisman,
said that he was too old to go to the
front, but was gong to do his bit - by
furnishing all the oil possible to help
win the war.
The company has over 100000 worth
of equipment, all paid for and four rigs
running night and day. Some near pro-
duction and one which has just "spud-
ded in' and they should certainly do
their share towards helping so increase
the much needed crude and refined oil
that is so necessary in carrying on
the war to a successful close So far the
( company has only sold II per cent of its
treasury stock and so 88 per cent is still
! in the treasury. This is a wonderful
record for any company and is due in
great measure to the careful manage
most companies there are no large sal
aried officers to eat into the cream of
the treasury stock. All money received
goes to development of the company s
holdings, and that is why it is possible
for them to make such good showing.
To talk with Mr.. Chrisman for only
few moments would convince any and
will make it a winner from start to
finish. The fact that it has been pos
sible to raise over $l30,000 up to De-
cember LIST and only cost the company
less than fifteen per cent means some
thing to the careful investor.
Tney are putting ON large block of
stock at 15 cents per share for quick
results. March LIST the stock will be ad-
vaneed 20 cents per share and each
month will see a raise until they have
secured an amount large enough to com
plete at least forty or fifty wells. The
stock will then be taken off the market.
As Mr.. Chrisman says: 1--WE have a
good thing and want to let the people
in it at this time. Had it not been for
the fact that the government needs the
oil so badly we would not have attempt
ed to put down SO many wells, but we
feel that we must do our share at once,
and at the same time make big money
for our stockholders while doing it. W
are going to give the public falr warn
ing that they can get in now but not
later-that is, after we have secured
enough funds to guarantee the results
desired. -
Had the Liberty company only just
their holding at Elk Basin, it would
4t
leases are less than so rods from pro
ducing wells and the formation of their
holdings makes it certainty that they
are bound to get producers in very
few hundred feet where they are now
drilling. With the company other hold
ings in good fields where oil indications
are very promising they are doubly good
as an investment. The fact that they al
ready have nearly 100000 in equip
ment, all paid for, and busy at work,
makes them something very substantial
to tie to. The stock selling at 10 cents
for thirty days means that they will
have a rush of buyers that viii carry
them off their feet, so to speak.
And well they should-they deserve
the success that is attending them. 1t S
this class of stock that has our hearty
endorsement. We like action and run
for our money and with a company as
financially well fixed as this one Is,
there is no uncertainty about what they
will accomplish in the long run. Nothing
succeeds like sueeesS-and success Is
sure in their case.
On another page in this issue the Lib
ertv company have full page ad that
In s,t.raef fba earafFi investor. anu
they go into more details than we are
able to in the space that we have at our
disposal. Read this ad carefully ana
write them for their prospects. It Is one
of the best and up minute IN de,
tails concerning the oil situation that
has so far been published by any oil
company in the northwest.