The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1919-02-06

More Than 100 Stockholders From
| All Parts of the State Attend
Annual Meeting in Minot
Taturday
Rarely does bunch of stockhold-
ers in any enterprise assemble where
there is that concerted action and
manifest interest displayed that was
apparent on the occasion of the Sec
! ond annual meeting of the stockhold-
ers of the Des Lacs Western Oil COM
pany held in Minot Saturday, Febru-
ary, when more than hundred were
present from all over the state of
| North Dakota and other states, many
Of whom had become heavy investors
upon the representations of the COM
pany or their authorized agents with
out ever having visited the scene
of the oil developments =
A. F. Blum, president of the COM
pany, called the meeting to order and
upon motion of H. S. johnson, secre-
tary and general manager, Halvor L.
Halvorson, of Minot, was chosen
chairman who, after accepting the
honor bestowed upon him in we'll
chosen words befitting the occasion,
called for the reading Of the finan-
cial statement by w. c. Rustad, as
sistant secretary of The company Mo-
tion by E. S. Waterman of Des Lacs,
that the report as read be accepted
introduced A. E. Long, president of
the Minot Association of Commerce,
who gave talk on the Standpoint of
a StoclSholder," report of which fol-
lows:
Encouraging Remarks of A. E. Long
Gentlemen, Stockholders of Des Lacs
Western Oil Co., and / hope future
| millionaires
l. I appear before you today as one of
you, as am among the large number
Of stockholders, and wish to state that
! / have never been OF a speculative dis
position, but it was not necessary for
anyone to solicit me to buy stock but
volunteered for several reasons.
In the first place l have always felt
that where there are vast deposits OF
COAL and having heard Of the flow OF
gas in various localities, we know
there is gas and I believe where gas
is to be found, that somewhere in that
region there must be oil. q
In the next place after | was the
owner of this stock was placed on a
committee to investigate the first test
we'll, and after finding oil, then flush
i ing the we'll for two hours, locking it
with a new lock provided by the com
mittee and after lapse of couple
of hours, found second accumulation
of oil, I was convinced the well had
not been doctored.
I In the third place have known your
general manager Henry johnson near.
ly ever since became a resident of
Minot seven years ago, and did not
believe he would have gone into the
matter unless he had faith in it, and
had some good reasons for his hope IN
| finding oil in comercial quantities.
can say that Of President Blum and
the others it has been my express
pleasure to know therefore express
full confidence in the management
behind this enterprise and believe they
want to give every man his due share
Of any profits that may accrue.
Seven years ago when ! came here,
if any one would have had the assur-
ance to have said Minot would some
day be the center of large producing
oil field he would have been consider
ed fit subject for residence at James
town. Today a similar statement
would be met in many quarters with
the reply, 4 believe it is not only pos
/, sible but within the range Of reason
able probabilities and no asperslons
would be cast on his sanity.
The management has always been
open and above board and no extrava-
giant claims have been made to induce
peaple to part with their money by
promising enormous returns, but the
facts have been clearly stated, and we
nave all been assured it is chance
we are taking. That nature is tickle,
and while they believe there is oil
in the earth in this section no guaran-
tee has been given that the we'll now
being bored will strike it. Yet, we all
believe the signs are sufficiently
strong to make it appear reasonable
that we will find oil in at least con-
siderable quantities and if this is done
1 there is no doubt in my mind that
other wells will be sunk and that
some of them will be profitable pro-
! ducers.
J. This state needs development more
than anything else-there are bound
less undeveloped resources yet to
4 come to light. / cast my mite into the
Des Lacs Western Oil Co., for two
reasons might realize good re,
suits from the investment, and that
might be one Of the pioneers in the
development Of the latent sources that
the discovery Of oil will bring. ! want
ed to have part in trying to solve
one Of Natures secrets, and felt It
was my duty to cast my lot with this
body Of pioneers in the development
Of this section. At the time Joined
the pioneer force could not afford it,
and did not take the sound advice not
to plunge unless l could afford 1T, but
the appeal was too strong and my de-
4 s;ro ~ have a mart in it's possibilities