The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-12-05
SPECULATlONS IN OIL

seven dollars worth of oil taken out
of the ground ten dollars are spent
in digging for it. All the tabled for
tunes obtained from gushers and
paying producers do not equal the
sums spent in dry holes and so-called
"wildcatting." The pioneer seldom
reaps u reward. AS a rule, only COM
panies with large capital are able to
develop oil fields on a paying basis.
But, the possibility of making a for
tune from the hidden treasures Of
the earth has fascination for many,
and offers opportunities to the UNI
scrupulous to ensnare the unwary.
Speculation in the wheat pit and
stock exchange sinks into inslgnifl-
canoe when compared to the gambling
in oil. The gains and losses are sell
dom weighed by those taking ven
ture, and it is perhaps an exaggera
ton to assert that one individual in
ten playing the game is winner.
The prospecting for oil is the more
fascinating because it is largely a
blind mans game. Comparatively
little is known of the hidden trea-
sures below the earth's surface since
they form such Il small portion oil
the earth's crust. Biologists who
have made the best study OF the
ealth's crust are the least apt to
make definite statements concerning
its hidden treasures. AS rule, their
pronouncenIents are like the proFhe-
sizes of the oracles Of ancient Greece
safe predictions whatever the out
come may be. However, since for
tunes are at stake, "geologists' are
sometimes induced to lend color to
promotion schemes.
Stock Statesmen Everywhere
We may not classify all ventures
in oil as either sound or unsound,
but certainly, our most stringent
bluc-sky laws have failed to prevent
much that is illegitimate and detri-
mental TO the general public. The
country is flooded with rosy-hued
prospectuses filled with the grossest
Misrepresentation. Smooth-tongued
statesmen are everywhere selling sild-
ed oil stocks that are absolutely
worthless. And every artful device
known to man is used to foster spec
| ulatiOn in oil.
Kidder county has come into the
limelight by reason Of the Oil found
in well at Robinson. Judging from
past experiences in the opening OF
!
of promotion schemes, "wildcatting
and confidence games. Too much at
tention cannot be given to the exer-
J else of caution before deciding to in.
vest. Doubtless, the oil find is
genuine and there is ample justifica.
ton in assuming that the indications
warrant prospecting and developing
Much of the territory adjacent to
Robinson has been leased for tina,
purpose. Several companies have beer
! found and one, that of A. c. Town
ley, has already begun operations
Confirmed reports also indicate tina,
\ unsayory representations are being
made in the soliciting of funds fol
investment.
In criticising questionable method:
it is not the intention to attack in
divduals, partnerships or corpora
tons using honorable and legitimate
means fer promotion. Neither is i
intended to discourage investors thai
can afford to take chance, while
!. it may not be amiss to discourage
. those enjoying only the barest com
, forts and necessities of life from
taking u hazard in an oil venture
. But, let it be understood that tn
. severest criticism should be launched
against anyone outraging common
sense and common decency by EN-
! ploying means which lead to Il belle
in a sure gamble, especially whel
: sugar-coated by protestations tina
the venture contains hazard.
. Efforts Net Criticized
In referring to the development
project of A. c. Townley no criticism
is directed at his efforts to prospec
for oil. If oil there is. it is as likel!
Z to be on his >leasehold as anywhere
And it is sincerely hoped that hi
determination pluck and as pionee
may be rewarded not only for tn
benefit of himself and his friends blu
munity. However, a resort to occul
or magic powers in furthering o pro
ject bears the earmarks of conf
dence game and as. such. deserve
condemnation.
To many readers of this articl
it is known that A. c. Townley ha
in his employ a man brought frof
Kansas of whom it is alleged that h
possesses occult or magic powers. H
is sometimes referred to as an "oil
witch" or "doodle-bug." 1t is allege
that this mar can detect oil in vary
ing quantities by the use of an in
strument held in the hand which con
Z tains crude oil and to which is at
tached silken cord-much after tn
manner of "water witches" detectin
water veins with a willow twig. Cred
liable witnesses have seen him per
form in q Kansas oil field where
blindfolded and over radius o
lmany miles, he could invariably iden