The Pascagoula chronicle., 1919-07-19

southwark down the dip from the Caddo field
to the gas and saltwater wells at Shreveport
test we'll Systematically put down ana care
fully watched, say one mile north OF tlls oiu
well would yield very valuable data as TO the
provenance of the gas in the old well ana would
stand chance of being a producer itself
And in speaking of the shells found in this Well
especially the "Rangia Johnson" shell, he
states: "They are generally regarded as late.
Mocene or early Pocene in age. They are OF
estuaran origin and indicate conditions favor
able to oil and gas development.
The Plans of Our Company
In presenting the stock of this company
to the public, the directors of the company,
who are experienced business men of the coast,
men in whose integrity the people have con1-
dence and whose judgment they respect, desire
that the subscribers to the stock may know as
fully the plans of the organizers as can possibly
80 be set forth in a brief preliminary statement.
1t is the intention Of ,le company to raise
500, 100000 and to take no steps towards drill
ing operations until at least $5O,OO0.OO has
been paid into the treasury. Our observation
has been that many companies start drilling
with very little money, hoping to raise further
funds as the work progresses. Faith is then
lost in the management by their associates on
account of the seemingly growing and constant
demand for money, such companies being
rarely able to complete their operations,
and this often when success seems certain.
We believe that many good wells have been
lost by failure of the promoters to get sufi-
cient money to make an intelligent and thor
ough test before beginning operation.
So much fraud has been INDUCED in by
some so called oil companies that our directors
do not want any subscriber to feel that he has
not at least gotten an honest run for his
money" if their efforts should fail
No stock shall be placed for less than it's par
value and no subscription for less than $4,000
will be taken.
The directors agree to incur no expense
until the money is available to pay, and if such
expense is incurred will themselves be respon-
sble. Each holder of $4,000 worth of stock
will hold one-thousandth interest in the
company, and all will share alike.
A lease on 5000 acres of land carefully select
ed under the best geological advice, has
been secured. This land has been sufficiently
scattered so as to embrace the best of surface
oil indications in the Pascagoula-Mo Point
Lame district.
We are going to make an honest effort to
get oil, if such exists in this community, as
many practical oil men believe If successful
you will profit enormously on a small invest
ment. If we fail, you will lose your money as
we lose ours.
We do not guarantee to be successful but
we do guarantee that you will share with the
others interested in the company pro rata with
the amount of your stock and that your money
will be honestly expended
Subscriptions will be closed when $780,
100000 has been paid in, and will not be re-
opened until authorized to do so by a two
thirds vote of the Directors.
Stock may be paid for either in cash or
one-fourth cash and balance in one two. and
three months.
Make all checks payable to j. r. Watts.
Treasurer, but send all checks to and do all
correspondence with T. C. Hibbler. Secretary
Lengthy correspondence will probably be nm
necessary, as we have endeavored to fully state
our plans i'm this preliminary statement. How
ever if anyone desires further information
please correspond with the secretary.