Indianapolis Times, Indianapolis, Marion County, 26 May 1949 — Page 27

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_ THURSDAY, MAY 26, 1049

New Oil Boom in Indiana

Real Estate Man Acquired Enough Leases In Oaktown Area fo Interest Drillers

CHICAGO, May 26—Six months ago Dale McLaughlin, 49, of Evanston, Ili, was just annother real estate and insurance man. Today he stands out among his neighbors in the Chicago suburb as one who took the great American gamble and won. Dale McLaughlin has struck oil. : The ie of his _ wildcat” strike is the old family farm m Sulli- ’

© r years Mr. McLaughlin and: his in-laws, the Armed with the leases, Mr. with whom he lives, owned 728 McLaughlin Tlinots acres three miles from Oaktown, Mid-Con X Ind. They sold the property to mel, Ill, to drill. A number of Robert Green several years ago, investors, including about 15 but kept half the mineral rights. Wealthy Chicagoans, provided As long as Mr. McLaughlin can|, FOF began Pay 13 or My remember people have been talk- 22 the well flowed. ing about oil in the area, but no-| on May 15 drilling was Marted body did anything about it until on Mitchell-Green farm. Oil last Nov. 28, when he went to" os Struck three days later.

work himself. mineral rights to this farm, Mr. With only 728 acres, he could Mel sughiin ange the Miichalis will not interest drill com jes get one-sixteen of the oil field. in taking the pon he They! In addition, he will get a perwanted to be able to drill any- “éntage of the profits from any where on several thousand acres,/Other Wells on the 3400 tract, Mr. McLaughlin. and Zim p.jEsown 2s the “Big Dee pool. Viant, a Hebron, Ind. banker |, Mr. cLaughlin said it was and oil man, visited 38 families ‘00 early to tell” how much ofl who owned property in the ares.|Wil! flow from the wells. One by one they signed leases! giving the promoters options on Scientech Club to Meet

si van ty, = 810g the bank : {property, they would get the cus-! f the Wabash River. th :

drilling. By the end of April, Mr.| Prof. Clarence C. Knipmeyer of

McLaughlin and Mr. Viant had page Polytechnic Institute will

i

Kyuicki Tokuda Kyuichi Tokuda, founder and chairman of Japan's Communist Party, smiles broadly as he views a recent workers’ rally turnout in Tokyo. Tokuda was hit by a homemade hand grenade while addressing a similar meeting.

Last year

signed up a block of 3400 acres. uneay on “Aspects of the Pro- FIND PEARL IN CLAM -

Promised Customary Share fessional Engineers and Land

months, If ofl flowed on their Hotel Antlers.

| - DANVERS, Mass (UP): How-| The land owners were paid Surveyors Registration Law” at ard Barnes, fish market proprie- fore repairing an automobile in 20 nothing, but were promised thatia noon meeting of the Scientech tortor, who has opened thousands minutes flat, until he took the bill drilling would begin within six Club of Indianapolis June 6 inl!of oysters, found his first pearl— up to the door for collection. He

iin a clam.

Asks Pay Raise NEW YORK, May 28 (UP)— Electrical

The CIO United Workers Union demanded a $500

$500 increase in pensions, and a health as the workers’ share in “unparalleled profits.” The present contract expires in April, 1850,

British Tycoon

Stricken on Train MINNEAPOLIS, May 26 (UP) ~~Viscount William Leverhulme, head of a vast international financial empire, faced lengthy hospitalization here today for treatment of an ulcer. The 61-year-old chief of Uni: lever of London was removed from a Soo Line train and taken to St. Mary's Hospital. He was making a tour of his international properties. Charles Luckman, president of Lever Bros, Cambridge, Mass., a Unilever subsidiary, reportedly was flying here to see the Viscount.

TRIUMPH SHORT-LIVED MEMPHIS, Tenn. (UP)-—A me-

chanic was pleased with himself

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