The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1919-02-20

sonally subscribed by these men, u
of which were given outright to the
company without any remuneration
or payment to these men, either in
money or in stock. Upon the organ
ization of the company, these men
purchased from the company $500
each of its capital stock, paying par
therefore, 81 per share, and at this
time presented their application to
the Blue Sky board of Kansas for
permission to sell stock. 1t is said
that this is the only company drilling
a purely wild cat we'll that has been
licensed by the Blue Sky department
to sell its securities. At the time of
making application for this permits
sion these men and the company
were highly complimented upon the
unusual and efficient manner in
which they had. handled the organi-
zation. The remaining stock that
was sold was subscribed for by local
people.
The men who were responsible for
this organization went further and
personally guaranteed that not only
the drilling contractor, but those
furnishing the casing and equip
ment and those securing acreage in
that vicinity that this well would be
completed not only to the depth of
the present contract, to-wit: 5000
feet, but, if necessary, total depth
of 1000 feet unless oil or gas is pro-
duced in paying quantities at les
ser depth, thus insuring beyond all
question a thorough efficient and
competent test in this important
territory.
Ready for Business
The company erected an 85-foot
double strength California derrick,
secured the very best of materials
and casing for the equipment of this
well, and has awarded the contract
for the drilling of the we'll to T. ].
Ryan, one of the most efficient drill
lers in the MIDI Continent field, and
to further expediate and insure
the proper handling of the enterprise
they secured as their superintendent
Mr. Hessick, of Florence, Colo, an
oil man of years experience in the
Colorado and Wyoming fields
and one familiar with the formations
that are naturally to be expected in
this territory. In order to insure
prompt delivery of their supplies and
equipment when needed the company
purchased two-ton Republic truck,
which plies back and forth between
he we'll and the town of Garden City
which is their shipping point. Ample
water is available for drilling pur-
poses, and no doubt a record will be
Hdue VII LlllS "eh Ill Vic uilliliiS VI
wildcat tests, both as to time con-
,umed and money expended.
The officers of the Garden City
Dill & Gas Co., all residents of Gar
lenCity are as follows: President
:. A. Gillispie, treasurer of the Gar
len City Sugar and Land Co.; Vice
,resident-Raymond E. Stotts, post
master; treasurer-Wm. Wonn, may
n and president of the Peoples State
Bank; secretary-Chas. l. Zirkle,
secretary of the Garden City Cham
yer of Commerce.
The company at this time has is
ued approximately $4,000 shares of
tock, every share having been sold
1t par, 81 per share, and has as
stockholders approximately $50 local
people, including nearly every bust
less man and firm in Garden City.
There has not been a dollor of pro-
notion stock issued in this company,
md no officer of the company draws
my salary, Notwithstanding the
TACT that some of the officers devote
all of their time to the in
.erests of the company.