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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Aug 08, 1919
Page
6
A historical business plan outlines The Appalachian Company promising guaranteed 8 percent earnings from the start. It discusses a live production model, direct-service stations, and rapid expansion from Corry to other towns, aiming to place distribution near consumers and grow through publicity and local stations while involving stockholders and regional partners.
A prospectus proposes supplying autos from company service stations with wells in Alleghaney and Cattaraugay counties New York and regions of Pennsylvania and Kentucky. It offers 200000 shares at 25 cents to finance developments, promising 8 percent earnings quarterly from a 7 barrel well, 28 dollars daily and over ten thousand yearly, backed by a collateral lien and guaranteed dividends.
A Corry company plans six new wells using the $50,000 from selling 200,000 shares. They target minimum daily production of $8,000 from one operation, with four wells on a 50 acre tract near Bradford and two on the Gault Lease. Gault, a noted US prospector, is quoted endorsing authentic data. Officers include Steck, Mick, Morton, Hay, Hand, Smith, and Paulson. The plan emphasizes a service-station model to cut costs and boost profits, urging quick action on the $50,000 issue with offices in Corry and Jamestown.
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