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Newspaper
Holbrook News
Location
Holbrook, Arizona, United States of America
Date
Jun 27, 1919
Page
1
Merchants and oil men in Holbrook express steady confidence that exploration will soon put the field on the oil map. Rig activity continues with three drilling, a fourth resuming, and a fifth to begin within a week as geologists monitor prospects and land options rise, signaling a likely oil strike.
A Denver King Record piece notes editors lament stock speculation as a great evil yet argues warnings echo past wreckers. It compares speculation to everyday risk in business and life, saying after global threats prosperity makes stock buying sensible, while critics call it gambling.
The piece extols stock buying in oil and mining, arguing it creates wealth and builds communities. It claims investors can rise from modest means to millionaire status and credits stock sales with fueling frontier towns and regional development.
The article contrasts two investor types in new oil field speculation. One is a level headed thrill seeker seeking legitimate stakes and development support. The other is a cautious, opportunistic skeptic who delays effort and then over reaches, often using poor methods.
Report from Chin Lee on the Navajo Reservation in northern Apache County describes a fatal confrontation between a white veterinarian and his interpreter and an assailant over a horse. The assailant was killed by a physician as his strength failed. Names are not confirmed, but a reservation resident backs the account.
A critic derides eastern editors as befogged and petty and mocks their reliance on rumour. The piece argues successful men speculate while lamenting the editors use a newspaper to spread a bleak, ridiculed worldview.
Drilling reports indicate excellent progress at the well with water hauled by wagon and soon to be moved by truck. Supt Hastings pushes for record throughput while a 16 inch hole impresses visitors. Wind River HOPI, Adamsana Oil Co and Shamrock Oil note continued 24 hour drilling, bull wheel parts arriving, 640 feet reached, and new equipment en route for the Richards Owens site.
The O Kell Core Rotary Churn Drill arrived at St Joseph on Wednesday to explore the Richards Owens Lease taken by Ben McCloskey and LA associates. It is a new type for Holbrook Field, tested in California and Arizona mining camps, expected to be at work within a week or ten days barring unforeseen contingencies.
Ground is broken for a new garage of C H Jennings to house a plate glass front showroom and offices. The site lies south of the News office across from the Holbrook Hotel, with occupancy expected within sixty days.
Geologist Ed Major reported from Holbrook as Apache Oil Co plans to resume drilling in the coming days. Dutch Shell rumour denied though reps show active inquiries. Large acreage transfers and New York interests converge with Col. Rankin meeting Major as Holbrook field activity intensifies.
F E Stitzer of Fleming Stitzer who has worked in the Ranger Field for months visited Holbrook. He says a Ranger development company will form as Arizona Ranger Oil Co to operate in the Holbrook field and may be incorporated within 60 days. The field shows ongoing activity with many waiting to join the initial rush.
Mrs. Kenneth Myers arrives from Winslow and will be lavishly entertained in Holbrook. A card party is hosted this afternoon by Mrs. D. J. Thomas. A Petrified Forest drive and luncheon follow on Saturday with further gatherings through Sunday outing on the White River.
W J Hennessy secretary manager of the Adamana Oil Co returns from a coast trip reporting Ventura holdings progress satisfactory and three wells on pump. A fourth well to be spudded soon by Contractor Clampitt. Company contemplates stock withdrawal after July 1 or substantial price advance.
A regular meeting of the Holbrook Arizona Oil Mining District is set for 8 o'clock Monday evening at the County Court House. Mrs Luke Smith has returned to Holbrook after visiting her sisters in Winslow.
The murder case of Charles Hubbell will be heard in Superior Court at Flagstaff on July 7. The report notes increasing reservation crimes and calls for protection of traders serving Indian communities.
Government awards contract for erection of barracks at Ft Apache and a warehouse at Cooley to C. W. Disney of Phoenix. Bids opened and contract issued last Monday. Frame construction with four months estimated to completion. Disney was in Holbrook Thursday and returned to Cooley today.
Olive Clarke Regina Wetzler Stephen Kornous and Hadley Funk have formed The Raquet Club at the Coleman Tennis Court. The long days allow considerable practice though the proficiency of each member with the racquet is not specified.
Treasury Bulletin shows 12th District quota 301.5 million subscriptions 319.675 million 106.03 percent. San Francisco quota 79.318 million subscribed 79.672 million. Los Angeles quota 31.849 million subscribed 33.078 million. Arizona subscriptions 102.35 percent. District figures note Portland Oakland Santa Barbara and Washington state won four German cannons captured in the final Allied drive.
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