The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-12-19


fields.
In old Mexico. they have holdings in
the state OF Tampa. Vera Cruz, (neat
Tampico), and Tuxpam.
The Ramsey boys have much east
ern capital TO back hen. They plan
their own methods = playing the
game, and have proved that their
plans, are the most successful to fol-
low. With their on money, they
purchase properties. and then sch
part to the companies for the price
at which they paid for it, and still
retain an interest. Thus they are
bound to operate successfully.
I'VE play the game and rely very
much on geology" states Ed Ram.
sey. when anything looks good we
do not hesitate"
When questioned further on his
opinion OF geology as regards oil field
work, Mr.. Ramsey replied: II feel
about it as a friend of mine once
told me he did. He said, ninety per-
cent Of wells drilled on geological
structures are dry holes, yet SO per-
cent of the wells found, are on geo.
logy.'"
The eastern capitalists who are in
vesting through the Ramseys, rely
solely on the judgment Of the broth
ers, and never question their ability
For they have proven that they know
the game" and have seldom failed to
see their judgments proven right.
Another plan which the Ramseys
follow is that of selling leases on
terms to big companies. Thus they
are enabled to get a better price fer
their acreage, and sell more Of IT,
The Ramsey brothers pay their em-
ployes an interest in all profits they
derive through their efforts. These
include their scouts, geologists, and
lease men.
The surplus money which the RAM
seys accumulate, they invest in bonds.
At the present time, they are buying
county bonds of Oklahoma.
Both the Ramseys are young men.
Eddie is 80 and w. r. is 81. They
are among the youngest financiers OF
the country, and in the ranks OF self
made men. r. w. Ramsey resides
at Oklahoma City, where he is inter-
ested also in the banking business.
When Eddie went to the oil fields,
his brother went to Topache, Okla
homa, where he worked in a bank,
getting as his compensation his board.
Later he was paid a salary OF 500
per month. He is the organizer Of
the Guaranty Bank at Oklahoma City.
The Ramseys maintain an office in
the bank building, there. r. W.
Ramsey recently purchased the magnl-
ficent Sheldon Vose mansion, at 400
West 10th street, Oklahoma City,
where he resides with his two child
ren. The senior Mr.. Ramsey suffer-
ed the misfortune Of losing his wife
by death recently.
Eddie is single. and states in
humorous vein, mo, have no pros
pects." when asked about 1t. He is
the active member OF the partnership,
and most of the large deals are con-
sumnated through his initiative Due
to his perfect knowledge OF the oil
game, including every phase Of OPP
erations in the field and the paper
work connected with the industry,
he can gain 'inside information"
quicker and in n more complete man.
ner than the majority of men in n
similar profession. Many of the large
companies Of the country often seek
the advice of Ed Ramsey. before they
close some of their largest deals,
even after their own biologists and
officials'have passed an opinion on II.
y very interesting case came up
some time ago, where Mr.. Ramsey
saved n company thousands OF dol
lars merely by advising an official of
n big concern that well which the
official believed was an oil well was
really "salted," II happened that
Eddie and the Official were in the
vicinity of the we'll at the same time |
The official inquired OF Ed concerning |
the possibilities Of the well.
"Fm going to get the first jitney |
back to town." he replied.
Aren't you going to stay and block |
some acreage? The we'll has OIL"
exclaimed 'he official.
It's salted" replied Eddie, and
this is how he found it out
He had approached The driller work |
ing on the well and In n roundabout |
way asked him how much oil there |
was in the hole. The drlller replied |
that there was about 800 feet of oil |
and 800 feet Of fresh water. which /
the crew had put into he hole Them |
selves. denying that there had been |
any sign OF salt water. Eddie gazed /
about the promises and noted that the |
boiler cord was covered with n white |
coating which glstcned in the sun
light. This convinced him Immediately |
thot there was salt water In the well 1
When the driller was not looking he |
dropped a pebble into the hole, and |
Judging by the theory that II would /
drop through space. before striking |
the LIQUID. at 'he rate Of one TO two |
feet to each count OF one. two. three. |
etc, he JUDGED the distance the peb- |
BILE fell before Il hit the liquid and |
discovered that the pebble hit the |
fluid before II had dropped one hund- /
red fce,, Thus the driller's statement |
was again disoredited because he had |
Informed Mr.. Ramsey that there was |
COO feet of fluid In the hole, and that /
the hole was about 1000 feet deep /
Had tho drillcr's statement been true, |
the stone would have dropped iiOo /
feet. AS 10 The fact that somc oil /,
was being hailed out with tho water I
Eddie observed that tho derrick was
covered with oil. 50 he smcarcd some F..
on his finger and tasted H. In doing .
80, hc found that ~ burned the ton.
que. due to the acid used In rcfiner- I
lna nnI Ihna hn lIarnADt.I lhnt IN !