Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1938-01-29

Richard says, MANY A LITTLE MAKES
A MICKLE: and further, BEWARE OF
LITTLE EXPENSES: A SMALL LEAK
WILL SINK A GREAT SHIP.
WISE MEN. as Poor Richard says,
LEARN By OTHERS HARMS: FOOLS
SCARCELY BY THEIR OWN: BUT
FELIX QUEM FACIUNT ALIENA PERI
CULA CAUTUM. (He's a lucky fellow
who is made prudent by other mems
perils.)
And now. to conclude, EXPERIENCE
KEEPS A DEAR SCHOOL. BUT FOOLS
WILL LEARN IN NO OTHER, AND
SCARCE IN THAT: for it is true, WE
MAY GIVE ADVICE, BUT WE CONNOT
GIVE CONDUCT, as Poor Richard says
HOWEVER, remember this. THEY THAT
WON'T BE COUNSELLED CAN'T BE
HELPED. as Poor Richard says: and
further that IF YOU WILL NOT HEAR
REASON, SHE'LL SURELY RAP YOUR
KNUCKLES.
Thus the old gentleman ended his har-
angue. The people heard it and approx
cd the doctrine; and Immediately prsc-
ticed the contrary, just as If it had been
a common SERMON For the vendue
opened and they began to buy extrava-
gantly, Notwithstanding all his cautions
and their own fear of taxes.
The foregoing excerpts from the June
z, 1857. article by Benjamin Franklin
lead us to believe that he would be a
royalty buyer were he here today.
He was one who would devote his
energy to the STUDY of his investments.
He would learn something about the oil
industry its past and future. He would
learn how to figure the value of royal
ties. He would never invest a hundred
dollars until he saw how it might return
him MANY hundreds Of dollars.
We think back to the days of the
great depression when people whom we
knew to be of moderate means bought
rOyaltaes-the greatest bargains in the
history Of the Montana oil industry.
They bought these royalties with the
idea that they were buying SOCIAL
SECURITY. Surely they had TO deprive
themselves of SOMETHING, for their In
comes had been cut. Everyone was in
the same boat. Some merely cried over
their plight. These others determined
to save SOMETHING out of their re-
duced income. and they took advantage
of the opportunity which only a major
depression could create for them-the
opportunity Oh AlAcOAhhes
They did not HOPE for better times.
They JCREATED better times. Those
who bought royalties in Cut Bank in
the darkest days of the depression are
the ones who have enjoyed the greatest
return on their investments, out OF the
mill on and a quarter dollars with Cut
Bank has since paid to royalty owners
They did not wait for better times.
They took advantage of TODAY and
thereby took care of the many tomOrrOws.
They could not busy as large amounts OF
royalty as they would have liked, but
they bought all that they could see their
way TO pay for Many paid on the in
staIIment plan, rather than lose out ON
desirable bargains.
Once they determined to make their
fortunes in royalties they stuck with
royalties. They were not tempted TO sell
out and dive into the stock market when
it appeared to again offer a great OPP
portunity. Their diligence and patience
were invested with their money and they
paid large dividends.
BENJAMIN Franklin would invest in
ROYALTIES because he desired to handle
his own affairs. The royalty investor
does not depend upon a board of directors
or n master mind" He gets whatever
share of his oil is taken from the ground,
and it is delivered to him free of cost
of production. He is the dictator OF
his own policies in the handling of his
investments and all the profits thereon.
His risk is with the bOunties of Mother
Nature His initial investment is the
only OutgO. His income is for his own
disposal, for Injuries, for a trust ac-
count or for further investments.
The basis of all financial success Is
THRIFT. Every person should read Poor
Richards writings at least once during
the year and preferably in the first month
OF the year to formulate unspoken resolu-
tions on a plan of systematic saving and
investment.
We have an interesting booklet which
we believe has been furnished to all
members. 1t is called 1.-THE Richest Man
in Babylon"
We will send it to any other who asks
for it