The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-04-22
OIL. MARKET Quotations.
Standard Gets Second
Choice
Choice

Choice
Tho Standard oil company of
OH. has purchased 1000 acres or
tb.rsabouts, OF the Smithcrman
Palmer and others holdings IN the
Iayl sville district in Louisiana and
mas acquired all the acreage OF tho
pho,u- mentioned people, except that
which is still owned by them in
partnership with the Gilliland OH
company.
Tle price paid was $4,000, 900, and
t IS considered bargain at that.
Tne showing in tho big well which
caused all tho excitement over there
would seem TO indicate that the
country around the well ig likely to
BE- very rich in oil.
. The entire personnel of tho
standard oil company of Ohio haa
been on the Job and while tho GIL
Hand people succeeded in getting
the inside stuff, Is is not surprising,
as witness the purchase by Mr.. GIL
lilaud OF tho very heart OF the Ilo-
mer field shortly after It was
opened. This and the acquisition by
Nj. Gillilnd of tho Marine OF COM
panys holdings at Burkbumett
plainly domonstrate that fact that
Mr.. Gllliland as n buyer of high
priced acreage Is IN n class by him
SELF.
And 81 ia also true that Mr., GILL;
land has won out and that both OF
tho above-named purchases have
proved mighty profitable, and his
new venture at Haynesville looks
better than either as the situation
now stands,
The deal has been a most profit
able one to Smitherman Palmer and
associates, and there are many in
teresting stories as to the sacrifice
II required to hold a great block of
acreage together until well of
sufficient magnitude was completed,
that they all might realize hand
somely on their investment, The
people of Haynesville were induced
20 come in and there ID no better
story TO write than the plain facts
as they have developed and 1t
should be a lesson to any town or
community that has hopes of being
inside Of the oil field with all its
attendant prosperity,
Here IS a human interest story. 1t
Is about boy who belongs TO the
Jewish faith and the tale is much
like the fiction written by Fanny
Hurst, only IN this instance 1t is all
truo and is az followsi
ddDe ttdTIl5 anu ilEs Wliot bOlh
young and ambitious, went to
Haynesville three years ago, and
opened ready-toIwear shop and
one day while they were in st. Louis
on buying trip a meeting was held
at their homo town and somo one
put them down for u one fortieth
interest in the deal. When Gabe
and his wife returned and found
what had happened 1t looked as
though ruin was staring them in the
face. but both were game and
neither 1made even a whimper, but,
speaking OF II now, they informed
their friends that they neither have
been able to eat or sleep and were
economizing TO the last penny to pay
their part of tho assessment,
Gabe's interest now is worth at
least half million dollars and he
will have his share OF the oil pro-
duccd on the acreage sod to the
Gilliland Oil company, because his
partners and himself still retain
half interest, and there u also an
additional royalty which must be
paid by the Standard of Ohio, which
is an added stipend and is in addi-
ton 20 the $4,0Oo,000 mentioned
above.
His interest will amply repay him
for tho weeks and months OF worry,
while the wells that were drilled
and declared dry were going down,
and this brings 20 mind another
story The number Z well on the
tract where the big well was dis
covered was drilled by the Roxanna
people. and now IL develops that the
driller in charge of tho rotary was
skeptical from the start and gave
it OUT cold that there would be no
oil IN this we'll or any other well In
that vicinity. II is easy TO see and
understand what Il skeptical drtller
with a machine could do 10 any oil
company. Mr.. Gilliland is now testing
this well out and II will be watched
with the greatest interest.
There was another well drilled by
Van Cieebe. Krononberg and Fried
man quarter mile north OF the
number or Roxanna well, on acre
age for which the firm paid 500
per acre, and It was shut down and
sapped at about 2,100 feet waiting
TOT results in the well drilled by the
smitherman and others crowd. The
Gulf has now purchased half inter
ea IN this well and the so acres on
which It is located and II rs said that
The bonus paid was very hand
some one and this well will now be
drilled TO the 2,s65-foot depth. 20
Test out tho pay in the big gusher
sand' little moro than a quarter
OF mile 20 the south,