The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1920-06-02
NOTED GEOLOGlST
SAYS OIL Is HERE
ADDRESSED TOMBIGBEE
STOCKHOLDERS ON
MONDAY NIGHT.
COMPLETE TEST
Will Be Made Here-AdditiOnsl
Funds Subscribed and
Further Operations
Are Assured.

Declaring it as his positive opin-
ion Mr.. G. w. Murray, Of California,
noted geologist, stated to a meeting
of the stockholders of the Tombigbec
Oh and Gas Company Monday night
that oil existed in northeast Missis-
sippi and predicted that this section
would eventually be one of the finest
oil fields in the world.
Mr. Murray stated that he had had
Mississippi under observation for a
number of years, and that finally he
had made a location and that the To-
cation was in this immediate section
of the State.
The meeting was called for the pur-
pose of laying before the stockholders
the status of the company's affairs
and to report on what progress had
been made.
Mr.. c. F. Sherrod, president of the
company, presided over the meeting
and Mr.. Carey Cooke offciated as Sec
retary.
| 1t was the first meeting Of the
stockholders Of the corporation.
Mr.. Cooke read the report Of the
audit Of the company's books made
by Mr.. Lewis f. Crook, of Meridian,
certified an dwell known public ac-
countant.
The statement showed that $43,-
503.OO in stock had been issued, and
that the expenditures had amounted
to s42,377.77, leaving balance of
cash on hand Of $T60.2S.
A frank and free discussion Of the
affairs Of the company was indulged
in by the officers and the whole sit
uation with detailed explanation of
| spaFioNs !.r.ts tsf operation and ex-
penditure was gone into.
Mr.. NJ. H. Snodgras, field manager
Of the company, told of the actual
drilling operations and Of the diff
fculties that had been encountered.
He said that there had been much
criticism Of the size of the hole, and
went into a detailed explanation OF
when the well was started with a
| 1O-inch casing. He said that every
well offered different problem from
that of almost any other well. He
said that the top formation here. to a
depth of $50 feet, was selma chalk
and a thoroughly consolidated for
nation, and that as matter OF
economy it was decided to make the
start with the smaller casing as the
sole purpose Of using larger casing
was to protect the hole down to cer-
tain depth on account of loose for
nation.
They took the chance, he said, but
have discovered that the larger cas-
ing will be necessary. He stated,
however, that foresight had been ex-
ercised in order to take care of just
such contingency which they faced
now, and that the hole had been drill
ed 70 inches in diameter, but that
only 10-inch casing had been used.
he said the company would be relieved
of the expense of re-drilling on ae-
count OF this fact.
Mr. Snodgras was frank in his dis
cussion of the matter and admitted
that mistakes had been made just as
they are made in every other drilling
operation and said that they would
continue to be made as long as deep
wells are drilled.
He said that depth Of a little
more than 700 feet had been reached
and that at this depth a quiek-sand
had been encountered which necessi-
tated frequent of-setting and this
necessitated the putting in Of l2inch
easing at the top.
= President Sherrod and Mr.. Carey
: Cooke assured the stockholders that a
thorough and complete test of the
structure here would be made as
originally promised by the company.
He said that every geologist who had
investigated and inspected the situa-
. ton here was confirmed and freely
expressed the opinion that the strue-
ture was favorable, and oil would be
; found.
Mr.. Cooke outlined the financial
+ program of the company. He said
that rigid economy had been exercis-
ed in the management of the affairs
Of the company, and that the stock
holders had gotten 100 per cent re-
Z