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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 22, 1920
Page
10
The appeal urges participation in oil profits, claiming inexperience and funds are managed by experienced operators. It states money is placed in Elyria banks and used for drilling costs, with repayment per contract terms. Investments start at 100000 dollars.
On a 100 acre lease, ten wells could yield 5 000 barrels daily. The Oil Weekly notes Gulf Refining Co. Stoker Well No 2 produced 10 000 barrels daily, located eight miles away. The report raises questions about land acquisition and participation in new opportunities amid high potential profits.
Prospectors note 100 acres 12 miles north of Breckenridge sits atop a growing oil belt. Gulf Refining Co reports adjacent lands with 12 wells in eight months producing 2,250,000 barrels, netting about 7,875,000 dollars, averaging 650,000 per year per plot. Sender asks if their land could yield similar gains with room for 10 more wells as oil prices rise.
Government report notes Stephens County Texas as the continent's largest oil producing county. Our 100 acre lease sits among large national oil company interests adjacent to fields yielding from three thousand to ten thousand barrels daily.
In the Ranger District a development line between Burkburnett and Caddo Fields hints at strong returns from oil investments once viewed as mythical. A prudent acquaintance emerges as the fortunate investor amid cautious optimism about the venture.
The Tex-Ohio Syndicate of Elyria Ohio announces officers led by W M Miller president and general manager with J L Kincaid D D S vice president George Beaver second vice president Arthur Hutt treasurer and trustee W H Gubb from Cleveland serves as secretary.
J Robson of Elyria a member of the Owen Dairy and a progressive man Mose Wilder of Elyria a local wholesale tobacco dealer and director of Lorain County Savings and Trust Bank Edward A Whiteamire of Galion owner of Texas interests and rancher Jacob Dock of Amherst formerly manager and superintendent of Amherst Stone Quarries now in the Amherst restaurant business
A fragmented note hints at Lorain County Savings and Elyria Savings and Bank merger talks. The text references merger intent and local financial names but lacks full details or dates.
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