Salt Lake Telegram | 1902-04-02 | Page 6 | $1,000,000 Company to Work Oil Lands

COMPANY TO WORK OIL LANDS R. R S. S Spence Succeeds in Raising Capital in Boston to Develop Wyoming Fields R. R S. S Spence of Evanston Wyo who has probably done more than any other man in that State to promote the oil 01 In Interests Interests interests In- In of Wyoming has just returned from a six months' months stay stay in New York and Boston and is stopping over trains at the Kenyon He has been successful in organizing a company which is backed b by well-known well Boston firms A syndicate is being formed in London to develop acres of land in Uinta county which Mr 11 Spence says will wi be consummated within sixty days Anxious to Invest New York and Boston investors said Mr Spence Spence are greatly greaty interested in Wyoming oil oi They are willing to Invest any amount of money that can cn be placed The outlook is very flatterIng flatter flatter- fatter fatter- flattering Ing and there will wi be an immense in influx influx In- In flux fux Into UInta county within the next sixty days The boom Is already on Twenty five TwentY wells are being sunk and i as many more will be started in the next two months None of the wells wels have been sunk to the formation formation formation for for- mation which will be found at the 1400 1400 or foot 1500 level according to the best experts The IntermountaIn Oil 01 company company company com com- pany the company In which Senator Kearns and Senator Clark of Montana ar art are interested has gone down feet in fri one of its two wells wels the greatest depth reached by any wel well It I has oil 01 of very superior quality but not yet in payIng quantities The Te New Company Our Boston company company which Is called caled the Wyoming Oil on company has the following following following fol fol- fol- fol lowing officers President Co Col Henry Hastings vice president president R. R S. S Spence i secretary Arthur P. P French French treasurer D S. S Pratt The directors are F. F S. S Morrison and F. F T. T Morrison the bankers bankers bakers bank bank- bak- bak ers Henry Adams grandson of J. J Q Adams and three well known known wel-known men of Evanston Ill I. I We will wi begin our first well vell wel In ten days and follow quickly with others Our plan is to work by contract contract con con- tract paying 10 a foot for sinking and casing