The courier-index., 1919-05-09
ROBERTSON HITS
 IT RICH IN OIL
WELL KNOWN MARIANA CITI- ZEN HEAVY STOCK HOLDER IN TEXAS PROPERTY THAT HAS PRODUCED A CUSTER

Senator J. T. Robertson of this city, who has been heavily inter ested in oil and gas properties in Oklahoma and Texas, has hit it rich in the Liberty Oil and Gas Company, organized by himself and John B. Harris and John F. Boyle of Little Rock. Recently we'll was sunk on the lease, which is located near Ranger, Texas, and a 2,500 barrel gusher was tapped. Senator Rob- ertson owns 80 shares, or one-fifth of the capital stock. It is estimat- ed his income from the one well with it's present supply of oil is approximately $500 day. The par value of the stock is $25 share, and the present value, since the gusher was struck, is $2,500 share. The Arkansas Gazette of Saturday carried the following story of the gusher:
 "The Liberty Oil and Gas Con- pany of Little Rock, with holdings at Ranger, Texas, owned principally by Little Rock men, brought in an oil we'll Friday night, with an initial production of 2,000 to 2,500 bar rels of oil, according to telegrams received by J. B. Harris and John F. Boyle of this city.
 "Mr. Boyle is president of the company; w. R. Perry is secretary treasurer; and J. T. Robertson of Marianna is vice president, and these officers with MT. Harris and B. H. Echols of Cotton Plant com prise the board of directors.
 "The stockholders are Mr. Boyle, who owns about 150 shares; MT. Robertson, 80 shares; MT. Harris, 40 shares; D. H. Echols, Cotton Plant, and Dr. R. R. James, Cotton Plant, 25 shares each; s. c. Watt, Hot Springs, A. J. Barrett, Hazen, J. K. Riffel, Little Rock, s. G. Dill lard, Little Rock, and Miss Emma Boyle, are all substantial stockhold- CTS. The company is capitalized at $10,000, with 400 shares of a par value of $25 each. The present market value of the shares is esti- mated at $2,5O0 each, it is said. This estimate is based on the we'll, and officials say that since locations have been made for two additional wells, and there is sufficient acreage for 40 wells on this property, it is hard to estimate the value of the company's holdings should the wells prove to be producers.
 "Mr. Harris bought least year ago last February on the 200 acres, Your miles north of Ranger, Tex, in which this oil well is located. He bought it from H. P. Massen- burg, a travelling salesman, who makes Little Rock his headquarters. He paid Mir. Massenburg $5,500 for the lease. Under the laws of Texas Mir. Massenburg retained an eighth interest in the mineral rights, for which he says he has recently been offered a half million dollars. NJ. Massenburg bought this land origin ally from his father at $1 an acre. Ten years ago he sold the land at S3 an acre to man in Ranger, Tex, but reserved the mineral rights. The purchaser at that time said, "all he wanted was the top of the ground, he didn't care what MT. Massenburg wanted above or below it." There were originally 368 acres in the lease, but 68 acres were subleased to the Superior Oil and Gas Company, an Arkansas corpora tion that has brought in a we'll. The Liberty Oil and Gas Company later gave half their rights in the 200 acres to J. E. Crosbie of Tulsa, Okla, in consideration of his drill- ing well on the property. The company retains an undivided half interest in the 200 acres on which the we'll has haan drilled o