The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1920-12-03

fho Rangsr-CAldweal OH and Coe
Company has had most dtscoung-
Ing time - the rssult Of he trouoss
which forcsd them to abandon he
we'll they had been sinking II th.-
Breckenridge field. However. they
have been up against the naturaa Ia
cards of the game--the same di1ncat-
ties which every successful company
must surmount before their expec.a-
tions are realized
The troubles Of this company ena
In ne way be ascribed to poor mana
cement. either financially " IN %
leration. The capitalization Of the COM
pany is low. surprisingly 20. when
value OF the holdings u considered.
and every dollar Of the stoekholders
money has. we believe. bssn carsful.
ly expended. Moreover, the stock
holders should take renewed courage
because OF the fact that mosl Of ,he
excellent arrangements have bssn
completed. whereby i've wells are
now being put down on the acrsag
OF the compay. f i
/ To make the situation clear to
the stockholders, We can DO no better
than to quote from letter from
Mrs Lura w. French. secretAry-tro-
asurer Of the company:
"A little more than two WookD
, Iago the bit got on In the hols--hsy
flshed and fshsd and nshed. and II
, simply could not be brought ont.
For one thing. they had got the hole
I q little crooked, hurried - Hreck-
, Ienridge and wired for expert trouble
mon, which means expert men on
flshing jobs Several shots Of pow
der and nitro we're put in to try and
: loosen and take the tools out but Il
just couldn't be- done. Yssterday
+ this second we'll was abandoned hn6
| third one The contract to drll1 The
) will be let to Hires and 0oodsn, the
: most successful drilling contractors
In the field. For two or three
: days It looked a. II We might b. sble
Q to drill by the tool. but It could not
\ tbe done: this II common Occurrence
r in this field. In fact it happons sv-l
: cry day. Two other rigs near -
: were having to skid yesterday.
We decided It was best for m to
n cut the acreage into blocks and let
n 1t out on q $3.50 basis before the
ground was drained. think that ]
wrote about the blocking Of the way
OF q company that was trying to ppt
Y fUur wells along Side OF our Acreaeu.
: They were only allowed one we1l an0
! 1t was to be right up against the
9 Cooper Henderson No that has
: been flowing since June 9th; 20
:. doubt very much on this location.
The railroad commission said that
for the protection Of the people from
whom we secured this lease. that we
IL must driu at once c. els. sc would
N - rse the lease. or oor%- s",. kn0w
I wo rav'nt the uo1',v In the tr~ss-
Is TRY to start any n,crs wells. and
le doubt II 1t would be advisab:a 10 co
is So even II we had tho money, fur on
a. putting down these wells consider
O. that we got wonderful deal. Tor we
al only allowed 326 fest each way foI
one end of the property, and kep
mt q little more than five acres for ou
rs own we'll. Hk1 We started anl
lla such wells as this for our stockhold
y, ers we would not have given then
ed a dividend for more than year, to
to each Of these wells will cost $6b,
lis 100000.
m Everybody in Breckenridge think
he we have got q wonderful cOntrac
of but the people have simply gone mad
Ie- and do not stop to figure what q
oil we'll will make So many guah
ers coming in around us made 1t p0l
sible for us to get good contract
OF course for q time was simpl
heart sick for myself and the boy,
&C for they are both so discouraged the
OO were actually sick, so had to brat
UP and look the thing square in Il
face. I put an adv. In both pApel
~ and such a number of people can
- for contracts on these blocks that
" just talked myself hoarse, but
eed course the number made the crow
ing more anxious to get In, 50 succee'
of ed in getting more out Of the IL
the cal than the other three. The b
crowd that Cancel got $z,6OO
cash in addition to he $3.50. SO
lrd the end Of another week the GO
the tracts call for Novemb sr26th g
90. drills win Be pounding on fve vel
49, 49,. for the Ranger Caldwell. am
sAs the honest opinion that tho stoc
ood holders will realize more on the
five wells being rushe1 Iwn to
af- than II they waited until they cou
ons put down one at time which mis-
rful mean one years time, and the y
no. one may be salt water instead OF {
am sending . picture OF the ~
mas as it looked more thanAmonthat
Q It and which does not show more "a
,nse half the derricks that are on
ground"
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