Deming graphic. (Deming, N.M.) 1903-1948, 1919-03-18
"l44O" COMPANY FORMS
Tucson Capitalists Organize Company
TO Put Down Drill In New
Deming Field
Florida Company Meets TO Consider
Immediate 0perations--Bush
Would Back Project

A new oil company, the "1440" Of
Deming, was granted permission TO
incorporate by the state corporation
commission at Santa Fe last Satur-
day. The company has capitaliza-
tion of one million dollars, and is
composed principally Of Tucson, Ariz.,
capital. only one New Mexican be-
ing listed In among the incorporators.
J. s. Vaught Of Deming is named as
statutory agent.
The incorpcrators are Arthur
Lewis, c. S. Cox. A. j. Campbell,
Murray Campbell, all Of Tucson. Ariz..
and A. b. Renehan Of Santa Fe.
No announcements have been made
by the new company, but il is under
stood that they will 90 after oil in
the immediate Deming field.
The Florida Oil company held at
meeting last night at which impOr-
tant decisions were arrived ut re-
garding operations in the Myndus
neighborhood, according to members
who were present, the exact nature Of
the decisions aforesaid not being dis
closed. Data Of very encouraging
nature is said TO have been submitted
to the company concerning the pros
poets in that neighborhood
The Florida company is composed
Of local business men and farmers,
j. A. Mahoney being its president.
Other members are J. W. Clark. G.
d. Hatfield. Mr.. Goode, N. w. Almy,
Cal Baker and n number Of others,
A way around the leasing difficulty
5 suggested in plan now finding
E..s 10, t.la - 70 h..
'Hn1 owner 10 make out and sign the
lease, which he then puts in escrow at
the bank to be delivered to the drill
ing concern when operations begin on
or within a certain distance, say three
miles, from the land.
II. Dial. who comprises Deming's
first AMI thus far only oil exchange,
reports a rushing business in the past
few days. and is looking forward to
the time when local stock will be
offered by his Office. Thus far he is
handling outside stocks only. Most
of the investments are small, but they
are numerous.
II. G. Bush, who is becoming an en-
thusiast on the prospects Of the local
field, declared yesterday that he
would be one Of ten men to put
$50 900 into well to be put down at
a point recommended by the best ex.
pert TO be had. This offers chance
for a number Of others who have
made similar declarations to get to-
gether and get something started, for
Mr.. Bush has the reputation Of finish
ing most anything he starts.
F. H. Wing came back from Hol-
brook the first of the week. greatly
enthused over the prospect there.
Three drills are already going down
near that town and another is about
70 start. Two more are also expected
! from Los Angeles soon. Mr.. Wing.
who wants to organize company to
put down drill in the Luna county
or Holbrook field. is much encouraged
and il at work again on his pet ven
ture. He is holding a meeting Of
those interested some time this week.
l.. r. Caulfeld, statutory agentFfor
the u. S. Oil and Refining company,
which is putting down well at
Bowie. reports the interest therein
still on the climb and stock sales, al
ready very good, increasing with
great rapidity. The company is al
most ready to start the drill down
after the oil, which was found by the
| test drill at $40 feet.