Out of twelve hundred petroleum companies, how many do you suppose
were honestly formed and rightfully conducted? Do you say six hundred?
You make large demands upon one's credulity; but let us be generous,
and suppose that six hundred companies bought land, issued honest
circulars, sent out machinery, and plunged into the earth for the
rightful development of resources. To form the other six hundred
companies, only three or four things were necessary: First, an
attractive circular, regardless of expense. It must have all the
colors and hues of earth, and sea, and heaven. Let the letters flame
with all the beauty of gold, and jasper, and amethyst. It must state
the date of incorporation, and the fact that "all subscribers shall
get the benefit of the original undertaking. While it does not make
so much pretension as some other companies, it must be distinctly
announced that this is a safe and permanent investment." The circular
must state that "there are a goodly number of flowing wells, and
others which the company are happy to say have a very good smell of
oil.
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