Jan. 7, 1918
COMPANY FORMED TO PROSPECT FOR OIL IN VALLEY
The organization of the Rogue River Oil company, which was incorporated late in 1917, has been completed with Dr. E.B. Pickel as president, A. Evan Reames secretary and James W. Dunlop treasurer. The board of directors comprise the above named three, with the addition of Dr. F.C. Page and James W. Dressler.
This company incorporated under the laws of Oregon with a capital stock of $250,000, with offices at the present time at 320 East Main street, Medford.
The plan that the company is working under is an entirely new departure in any field that is prospecting for oil and has the approval of the corporation commission of this state. It also should have the support of the entire community as the production of oil in this district would be of the greatest public benefit to everyone here.
The plan and outline is along co-operative ideas with a certain portion of the capital stock set aside for the benefit of any land-owners making leases to this company on a pro-rata basis of the number of acres so leased. All leases accepted by this company are placed in the hands of the Jackson County bank as trustee, together with a trust claim deed executed by the company to land-owner, accompanied by an escrow agreement safeguarding the land-owner.
When the desired amount of leases have been secured, and are in the hands of the trustee, the company will have arrangements completed so as to begin the actual field operations.
From previous work in this district, the formation, etc., and also other indication, this company feels justified in their action of going ahead and thoroughly prospecting this territory in a conservative, businesslike manner.