The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1921-01-22
BASIN OIL
CO. REORGAN|zED

A letter from the Illipah Basin Oil
& Gas Company to the Elko Independ-
ent will be interesting to Winnie
mucca stockholders In that concern,
OF which there are many, some Of
whom have felt their flyer in oil by
buying stock In the Illipah Basin was
another dream blasted. The letter
follows:
The editorial appearing in your
paper dated January 9Th, 1921, could
not be better. You have hit the nail
on the head, and hope that it gets
to the parties to whom 1t is intended.
However, the third section of this
editorial in which you stated: THUS
far no notification has been forth
coming that this company has made
an additional effort to give its stock
holders a run for their money" did
not pass me unnoticed.
When the company was turned over
to the new directors it Is true it was
practically clean OF finances and that
a bit was left in the bottom of $40
foot hole.
1t is also true that the condition Of
the company was nothing to brag
about. But today, l am glad to say
that the directorate consists chiefly
OF prominent Ely people who were
heavy stockholders previous to the
annual election and who bought their
stock such as you and I, to put we'll
down in territory where we believed
there was oil and which we thought
would be for the good of the state
and for this particular section of the
state.
They have taken charge of the
proposition and although the financ,a,
condition throughout the United
States is at standstill the company
Is now out of debt and a sufficient
amount is being added to the treas
ury daily thereby putting the CON-
pany in such position, that weather
conditions permitting. the company
will soon resume drilling operations
Mr.. w. N. McGili, the president. is
also president of the First National
Bank, and president OF the Adams
McGill company. one of the largest
sheep and cattle companies of Ne
vada. He is will known in Nevada
as a man honest and just in all his
transactions.
Mr.. R F. Matthias, vice-president,
is foreman for the Lincoln Highway
Garage of Ely, and a resident of Ely
for fifteen years.
Mr.. H. Wise, director. is cashier of
the Copper National Bank, East Ely.
A man well known in the Ely dis
trict.
Mr.. Ira MacFarland. director, is
deputy state engineer.
My position previous to the elec-
tion was an employee and stockhold-
er and now l intend to do everything
to assist the new directors in their
work and help them to shy clear OF
the many mistakes made in the past
In order that the stockholders will
get an even run for their money-not
only on paper, but In reality.
1t is not an easy undertaking to put
company on its feet after getting
such a knock in the head as this COM
pany has received. But the Illipah
Basin Oil & Gas Company is getting
on its feet.
The present directorate intend to
operate the company on an economic
basis. giving the facts. eliminating
the exaggerating reports that mean
nothing. and accomplish results.
The money now being secured goes
direct to the treasury. Not one cent
goes for agents commissions, manag-
ers expense. etc.
Get the company on its feet and in
operation. Put the we'll down so that
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mn TAVVOR WIFI, RE IN WTN