Bisbee daily review., 1919-04-13
OIL BOOM IN PECOS
 FIELD CLAIMED PURE
 WILD CAT VENTURE
Good and Bad Gambles in Drilling; Investors Should
 Investigate

TUCSON, April 12.-That there are good and bad gamblers in oil pro motions and that the investor should De protected, especially by licensed and reputable local brokers, is the statement of John L. Larkin, who is spending a few days in Tucson after a thorough canvass of the booming oil fields at Ranger, Eastland and Burk-Burnett. While in Texas, Larkm visited several other fields of un- Known quantity, especially that at Pecos, which he brands as a wild cat" pure and simple, and unworthy of the attention of the people of Ari- zona except as a 200 to shot.
 LArkin has had much experience in the oil business. He was raised in the Pennsylvania oil fields and wit messed several of the booms in the east. He operated in the Tampico field for the Pearsons interests anq had charge of the drilling operations for the Royal Dutch Shell Company at its Baku plant. in southeastern Russia. He declares that certain of the Texas fields are worthy of investi- gation and others should be cut from the list.
 The Right Gamble
 Investing in oil stocks, of a promo tion character, is gambling" declares Larkin. Tt is legitimate gambling, however, to invest money in a fiefd whose possibilities are known and with men whose responsibilities are 1rr HnnuTd the money he pays for stock Is going to be spent in an honest endeavor to develop oil or mines as the case may be, he is getting all he paid for.
 Given the right people and fair location in the Ranger or Burk-Bur- nett field and the investor gets run for his money In buying promotion stock that is all that man who buys stock can expect. If he gets that he will be getting as near perfection as possible.
 "The Ranger and Burk-Burnett ing millions of dollars fin oil every day. Thousands of people are rich and more are getting rich. Undoubt- edly more people will make money out of the field before it ceases to be promotion proposition. l know of many companys, some that have been organized in Arizona, operating in the Ranger-Burk country They are back ed by men who are interested in the development of oil and not in the sneecing of some sucker.'
 "One bad feature has resulted from the oil boom in the Ranger country. This feature, is noticeable in every boom. You had it in this state during the copper promotion boom in 1916. That is the promotion of companies on land that are out Of any proven oil zone and these promotions are being 6nade in a great majority of Ing some promoter to make an easy Pacos, Texas, field.
 @ Veriest "WiId Cat"
 Several companies are being float ed to investigate the Pecos field. Tn my judgment they are very question able and appear, zon the surface ana by. the manner of their promotions, to9be the veriest kind of wild cats" In-spite of that these promotions are claiming sure things, certain to strike oil in four and three-quarters days guaranteed return on your investment of fifty eleven per cent and other outlandish claims that should be sufficient, fin themselves, to warn the possible sucker
 Others are working under the dodge of selling oil leases. 1 under stand that one of such companies is foisting this class of land on the Ari- zona. public and seems to be selling some of 1t. The crafty salesman for the wild cat promotion is schooled in his art. He is talking of ham and eggs He pursues the policy of al- ways having something to sell. He never buys. He wears good clothes and knows all about synclines ana Anticlines. He knows oil geolong from Alpha to Omega. He is represent ing the best company in the world, a company that is backed by such men as John Smith, ex-constable of Po- dunk, and Senator Eorghum, of Happy Valley. HoY could you distrust such a benign salesman? He believes in his goods, and, if he is a good sales man, he sells some stock or lease.
 These leases amount to the right to prospect for oil on a given piece of land A very high price is charged for them in the first instance and the money goes into the hands of the corporation. There are corporations, handling leases, that are bona reo and make this particular branch of the industry legitimate. Tn the ma jorfty of cases, however, they. are wild cats and trading on. the success of a few companies that have made a success. For a company that is pros pecting for oil to let a lot of leases IS rather peculiar on the face of it. Peo- pie. generally, are not that generous. Of course when questions of this na- ture are put to the glib salesman they have a ready answer.
 "1 would say beware of the Pecos field at least until such time as 1t has meritorious proposition to o1- fer"
 PLEASED OVER