The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1919-10-09
LOCAL OIL SITUATION
BECOMING ENCOURAGING
Seward County Oil & Gas Company
Let Contract For Well on
North Block.

short distance of Liberal is soon
to be reality.
At a meeting the stockholders of
the Seward County Oil & Gas Com
pany held the first of the week, a
contract was made for a we'll on
their holdings north of Liberal.
The contractor, well-known oil
man, has agreed to sink a hole
$500 feet if necessary to get pro-
duction, for a share of the stock
and a cash consideration.
A representative of the Demo-
crat was accorded the privilege of
reading the contract, and from all
we can gather therefrom we are
willing to say that they made a
mighty good deal, and one that if
production is found will be highly
remunerative to the stockholders of
the company.
The driller is bound to perform
his obligations or the company is
out nothing. and the leases still re-
main the property of the stock
holders. He must put up dollar
for dollar with the company and in
short every interest of the stock
holder is carefully safeguarded.
Under the terms of the contract
it will be necessary to sell some
thing like $4,000 worth of stock.
Part of this is already subscribed
and the balance must be cleaned up
at once in order to make the con-
tract binding.
Orders for stock are coming in
from outside territory and many
of the most substantial business
men and farmers of the county are
buying stock. Stock sales will be
pushed rapidly in order that the
hole may be started at an early
date. The work of erecting the
rig will begin next week, and while
Oilc COuIIdCI dllOWS IHc urllleT ~
days in which to begin work, they
are desirous of getting an early
8, start and it is likely that a well
will be spudded in before that time
shall have elapsed.
The directors of the company
have labored long and hard on this
proposition and just now the re-
suit of their efforts is beginning to
show. The company has among its
directors some of the best known
and most substantial men of the
county, men in whom all have the
utmost confidence.
There is just one chance for loss
and that is in not finding produc-
tion. Personally we think there is
little chance of this. The field has
been surveyed by several geologists
who pronounce the structure first
class in every particular, and it
looks like mighty good buy to us.
The company now has ten thous-
and and twenty acres of leases, but
they will continue leasing and as
new leases are secured they will be
turned into the company, enhancing
the value of the stock if production
is found
That there is oil here is not
doubted by the men who are best
qualified to judge. New fields are
being developed daily and the big
wells being brought in near ANA
rilla give encouragement to the
thouht that production can be had
here.
There is just one thing in con-
nection with the oil game that caus-
es many persons to lose. Unless
one invests his money he cannot
share in the division of the profits,
and after a field is proven the small
investor is out of the game. The
only way in which the hundred
dollar man can share is to get into
the game early and in an unproven
field. These are the fields that
make the big money from the small
investment. Not so much is re-
quired to get in and the returns are
greater than from investments in
proven territory.
With only $4,000 worth of stock
to sell the company should clean up
rapidly. Those desiring to get in on
the ground floor should get their
applications in right away.
That the big companies are sat
isied there is oil here is evidenced
by the effort being made by the
Traders Oil Company to get a we'll
west of Liberal, and in the fact
that other big companies are paying
rental leases in Seward and adjoin-
ing counties.