Arizona republican., 1919-05-22
0l. INVESTMENT
 RULES SHOULD BE
 WELL CONSIDERED

l.. M. Barker the young oil man from Texas offers a few suggestions that may be of help to investors in making up their minds on which of the many oil stocks now offered they should place their money.
 Don't invest your money in an oil property simply because of the fact that friends of yours became rich through a fortunate investment made in oil stocks.
 Don't on the other hand, be deterred from investing in a property because another less fortunate friend became bankrupt through some other oil in vestment.
 Don't allow any insinuating. slick dishonest not 10 employ the shorter and ugIier word, promoter or so- called stock broker. tQ overcome your natural modesty and convince you that, because you have been successful in our line of business, you yourself are competent to determine ahe value of an oil property. Many men Of business ability in their own lines have made trips of self-deception to see for them selves that which existed only in their lmdginauOns.
 Shoemaker Stick to Your Lastp
 Don't be influenced in your desire 10 purchase oil stocks by a bottle of oil that the property has produced, even though you yourself have seen the oil actually on the ground. This is similar 10 specimens rock in a mine, which is not criterion of the average grade or the ore upon which the success of he mine depends. John CashWeiler d we'll known mining capitalist of his lay. when asked his opinion on the value of q property from which very flch speclments Of ore were shown him. replied, You might as we'll show me halr rom the tail of a horse and then ask me how fast the horse can trot."
 Don't buy stock in an oil company because it has produced a profit of mil Hons of dollars in the past. for the property is obviously so much poorer TOT the millions already abstracted.
 Don't buy stock in an oil property unless you are sure that the board of directors are honest and competent. because good management is just as essential to success in oil production as It IS in other enterprises
 Types of Oil Investments"
 oil investments fall under one of these heads:
 (a) Investments in stocks of pro ducing concerns.
 (b) Investments in stocks of con yerns that intend to develop territory in proven fields.
 (e) Prospecting or "wiIdcatting' ventures in territory not productive.
 "WiIdcattingV
 Prospecting new and as vet unnro. ductiye territory is to be classed main " under the head of specuIations." saVs Victor Ziegler, professor of geology ana lnineralogy at the Colorado School of Mines, in his book Popular oil C;eoI- osy,' from which the above extracts are taken. By far the majority of smaI companies are organized for this pur- rose
 Prospecting ventures. if successful result in fabulous profits and conse- 4uently are especially attractive If is Weih 10 carry in mind the fact thai while there are still many opportunities pteponderantly against success. Stay close to productions; your chances are great to win. From the latest st54istice compiled by the Chamber of Commerce. Publicity Bureau of Ft. Worth 1,exas 4t gives for the first quarter of 1910 the following percentages of wells Dro- 3ucing tn the three great oil becrine