El Paso herald. (El Paso, Tex.) 1901-1931, 1919-04-04
HOT SPRINGS CO.
TO START.
Development Company and
Leasing Company Formed
by FL Pasoans.

Holders Of mineral rights on land in
the vicinity OF Paiomas Hot Springs
New Mexico. at an enthusiastic meet
ing in Rotary grill room a Hotel
sheldon. formed the Hot Springs-El
Paso OIL company Thursday evening.
The company is TO be Incorporated
FOR s175.00o. par value Of shares
81 The same people formed the FL
Paso-Hot Springs Leasing corporation.
10 be Incorporated for $3.50, 200. par
value Of shares 81.
The oil company was organized to
drill well and prove up the field
II is a separate company from the
leasing corporation, and has as its Of
ficers; President, W. H. Shelton: first
vice president, sam Matson, cashier
First National bank, Hot Springs, y
81 second vice president, George f.
Wallace treasurer. Scott White; sec
rotary and manager. ~ p Carlock-
The directors comDrise- W H Shell
ton, FL Pasoi Robert Martin, Hot
Springs; George z. Wallace. Scott
Us hite. Il p Carloclz. E c. Davis, II.
B. FRS. Henry T. Bowie. Fred Knoll
lenberg. j. ". King, FL Paso, and T.
II. Napton. Hot Springs
The Leasing Company.
The leasing corporation viii handle
the ground acreage Of the district so
that all VIII share in the profits Of the
lease sales in proportion 20 acreage
To was agreed that each original To-
Gator would receive shares Of stock in
the corporation on basis Of 10 shares
FOR each acre owned, and that in cases
where the locators pooled their inter
ests the viii Of the majority OF the
l0ca tors would determine whether the
acreage would be converted into
shares Of stock in the corporation
The corporation proposes TO retain
one-eighth royalty on all leases sold.
thereby giving the stockholders an
opportunity to share in the returns Of
the entire acreage If oil IS struck IN
commercial quantities
Officers were elected as follows in
the leasing corporations President, ~ {
p. CerloCk- first vice president, J. v.
Green. OF Hot Springs. n. n; second
vice president J. b Peden- treasurer, !
Henry r. Bowie- secretary z. H. Rine- I
hart; field manager. T. H Napton, Hot I
Springs
Fifteen directors were provided, as
follows III. p Cariocl. Fl Paso- j. ". {
Green hot springs. n n. J h Peden. 1
Henry T. Bowie, r H. Rinehart. FL
Paso- T. r NaDton. Hot Springs; IL I
5caruorouEh. sam 7 Heligers. J. r T
Noffetl- Norman Veazey. Claude A
Brown A. j. Fraser, p. E. Allen. Scott
White Fl Paso. and T. l. Medler, Las
Cruces
Way Bay Stock Cheaper.
Il was announced that all Of those /
holding land in the field would be Civ (
en- an opportunity 10 buy stock IN the
OIL company at so cents a share. by the I
pooling Of the stock until the entire ]
block was placed on the market This
would be known as REORGANIZATION I
stock the money obtained from such I
sales TO be devoted TO the work OF
starting the new company. obtaining 4
office space. obtaining the charter
printing supplies and the like.
u. L. Fox, managing editor OF the /
Albuquerque Morning Journal. pointed I
out that the indications for oil in the
Hot Springs district were quite SINH !
lar 70 the Pennsylvania, Kentucky and T.
other noteworthy fields. sam Matson. :
cashier OF the First National bank OF
Hot Springs. y. Bucker. Of Hillsboro, /
and several others made talks EXPRESS