The Holbrook news., 1919-02-28
Story of Oil Romance
A real romance in oil describe

shares of the Western States Oil 6 Land Co.,, a Wyoming com pany which has advanced within a few weeks from around 75 cents share to $26. following the completion of the pioneer we'll on it's acreage in the Lance Creek field by the Ohio Oil Co. The bringing in of this we'll was, within itself. a story of advent ure which has few parallels in the oil world. These events con- nected with the movement in the stock of the western states, the rush to the field and subsequent developments, furnish the found ation for a story very much out of the ordinary.
 One of the most interesting features in connection with the developments was the way in which fortune smiled on many people and various interests after apparent failure had marked the course of events. The last twist of the drill had been given. The men were packing up to leave their jobs and another promising oil field was about to pass into the discard, when the wheel of fortune turned, and wealth dropped unexpectedly into the laps of many people.
 Two years ago. H. A. RisDin, a California operator, with the assistance of his associates, or ganized the Western States Oil 6 Land Co.,, with tho modest capitalization of 100, 900 shares, par $1. It acquired leases and placer locations on more than AL 900 acres of lands in Lance Creek, West Salt Creek, Powder River, Big Muddy, Buffalo Basin and other fields which were then promising. The promoters fig ured that it could lose on all it's chances but one and still make good.
 The company held it's acreage while other companies wildcatted in the various fields. It leased some of it's holdings to large com panies who were willing to take chances. It's ground in West Salt Creek was dotted with rigs. But the bringing in of water wells in that district ended all hopes of profit from that source and the rigs were removed. A water we'll in Powder river con- demned that field. Nothing but gas, which was too far away for commercial use, was found in Buffalo Basin. One failure fol- lowed another. The company gave up some of it's acreage be- cause it was too big a burden to carry. It's acreage in Lance Creek was reduced from q, ,000 to IA, 900 but still it held on. It leased most of it's Lance Creek acreage just as it had done in West Salt Creek.
 The Ohio Oil Go. drilled a well in Lance Greek in the fall of 1917 and spring of 1918. It tapped thin sand at a great depth which made only 10 bar rels a day, just enough to cause a furry of excitement, but not enough to make it a paying pro- position, Western States was up against a threatening failure.
 Arrangements were made with W. R. Macbeth, a well known Denver oil man connected with a stock exchange firm. to market 10000 shares of Western States stock at $2 a share to provide funds with which to do the an- nual assessment work on the various claims as required by law to hold the ground. Every purchaser was told that it was a chance and they went in with that understanding.
 The Ohio Oil Co.,. which had a lease on section 36, owned by Western States and upon which the we'll was drilling, decided to go down with the hole. Tn the meantime, Western States started it's own hole. Suits were filed against the company to re- cover some of the costs and one trouble after another handi-