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This newspaper page contains 9 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 25, 1920
Page
11
An advertisement touts opportunities to invest in oil profits linking returns to profits from first wells. It claims funds are used for necessary expenses under contract, with repayments and handsome gains. Investors can buy $100 certificates and are urged to participate in a new oil project.
The report touts room for ten wells on a 100 acre lease with east ten producing wells at about 500 barrels daily each totaling 15,000 barrels. The Oil Weekly notes Gulf Refining Co. Stoker Well No 2 produced 10,000 barrels daily May 1, nearby within eight miles. The piece suggests strong opportunity and notes oil is hard to acquire in Stephens County.
A letter cites 100 acres near Reckenridge Texas in the heart of a large oil belt. Gulf Refining Co. official Len claims 12 wells produced 2,250,000 barrels yearly with net return of 7,875,000 dollars, about 650,000 per well. It states room for at least 10 more wells and asks if readers are interested given oil prices.
A governmental report notes Stephens County Texas hosts a 100 acre lease amid the largest oil county on the continent. Nearby major oil firms hold adjoining interests producing three to ten thousand barrels daily.
Government statistics indicate a rapid increase in oil well activity in Stephens County with 97 percent of listings showing profitable operations. The report highlights rising land values as extraction expands across the area.
In the Ranger District near Erkburnett and Caddo Fields, reports claim proven oil returns, though many question the reliability. The piece notes a fortunate acquaintance among investors has benefited, while warnings about mythical profits persist.
The text names Tex Ohio Syndicate officials including W. M. Miller president and general manager based in Cleveland with oil production experience. J L Kincaid vice president and doctor. George Beavor vice president. Arthur Hutt treasurer and trustee and restaurant owner. W H Gubb secretary with brokerage and oil operation experience.
Elyria residents Robson and Wilder are identified as Park Dairy owners and a tobacco dealer with bank board ties. Whiteamire of Galion holds oil, farming, and stock raising interests. Dock of Amherst shifts from quarry management to the restaurant business, after years at Amherst Stone Quarries.
The fragment mentions Lorain County Savings and The Elyria Savings and Banking Co, indicating a local financial institution note or merger context rather than a full article. Further readable details are unavailable to form a complete event or action.
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