Jasper County Democrat, Volume 12, Number 1, Rensselaer, Jasper County, 3 April 1909 — OIL COMPANY IN RECEIVERS’ [ARTICLE]

OIL COMPANY IN RECEIVERS’

HANDS. . J. W. Toyne of Gillam tp., was down yesterday on business. He says the oil field operations closed down a couple of days ago and notices "have been posted that the company had gone into the hands of a receiver. We are unable to learn the extent of the liabilities and assests, but the former are probably quite large. This no doubt will be the closing chapter in the Jasper county oil bubble. Not much has been done in the past year or two, but recently the company started up at Asphaltum and gave evidence of renewed life. There never was oil enough in this field to grease an oil wagon, but just enough to find dead-loads of suckers, and probably a half million or more dollars have been secured from the sale of stock, none of which has been unloaded in this locality. The suckers were easterners and foreign capitalists. Considerable money nas been spent at Asphaltum in making a show, but no great amount of “product’’ was ever shipped out.