Gunnison news-champion., 1919-10-17
BUSINESS men
DISCUSS OIL
CHAMBER OF COMMERCE MEETS
rO TALK WELL PROJECT
Intends 10 Make Thoro Examinstisn
So That Investors Money May
BE Protected

After Q luncheon at La Veta hotel
last Friday, at $3.50, the large audience
of representative Gunnison business
men, who were gathered for the pur-
pose Of looking into the oil situation
In Gunnison county, was called to
order by T. w. Gray, vice-president,
who acted rs chairman Of the meeting.
+. G. Martin was secretary.
Mr.. Gray explained to those present
that il was the purpose of the Cham
Der of Commerce to make a thorough
investigation of the Gunnison A / Oil
Co. in order to determine for what
purpose the money subscribed was be-
ing used, and if found that the money
was being used for the actual sinking
of the well, that the Chamber would
endorse 1t and help raise the neces-
sary funds.
Mr.. Roy Of the A / Oil Company,
was called upon to explain the facts
pertaining to the company. Mr.. Roy
made everything very clear, emphasi-
zing the fact that no salary what
ever was being paid any member of
the company, and that all funds sub
scribed for the stock would be used
for drilling purposes. He also made
II known that inasmuch as the original
members of the company had spent
several thousands Of dollars of their
own money to put the proposition on
its feet, and by 30 doing had shown
the people that they meant business,
and that their one and only intention
was to determine whether or not
Gunnison county was an oil produc-
ing territory, that he felt that the
people Of the county should at least
do their share towards the active drill
ling, and as prominent geologists and
oil men Of experience strongly advo-
cate the drilling, that they have bet
ter than an even chance of finding oil
in paying quantities.
Mr. Roy made It very plain that
the company was not making any
rash promises as to the returns ON the
Investment, in fact, the only promise
made was that the well would be drill
led and il oil was found tho promises
would take care Of themselves.
Chas. b. H0rling, banker of Sedge-
wick, Kansas, followed Mr.. Roy, and
told those present how he chanced to
make a trip to Gunnison county last
summer, and noticing the promising
indications Of an oil field, came back
later and purchased substantial in
terest in the Gunnison A Oil Co.
He also informed the members that
previous to his becoming interested
in the movement, he had made a thoro
Of each and every mem-
Der Of the company and that he found
them men Of high standing and good
reputation. He finished BY saying he
felt certain that every Gunnisonite
who subscribed for the stock of the
company, would have no cause to
regret his investment.
1t was decided that a committee be
appointed to make thoro audit of
of the company's books and find out
how the money was being used and
in what shape the records were being
kept. The committee appointed con-
sisted of H. P. Ferguson, chairman;
A. W. Hogan and w. Il. Kreutzer,
who were to report to the Board of
Directors of the Chamber of Com
merce. (This report is printed by the
Company in its ad on page four.)
The matter of the well itself was
then taken up with Mr.. Grow, who
suggested that another committee be
appointed later to make an inspection
Of the well at least once each week
in order to keep the stockholders in
fofmd as to the progress being made.
This suggestion was most favorably
received by all present, and the COM
mittee will be appointed as soon as
the drilling starts, not later than
November 1st.
All in all, the meeting was very en-
thusiastic in the belief that here is q
real chance to determine once for all
whether the Ohio creek valley is oil
territory.
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