Memory's Storehouse Unlocked, True Stories: Pioneer Days In Wetmore and Northeast Kansas
John Locke · en
Our Wetmore group, with “investors” at Goff and Bancroft, contributed
a sum said to be $14,350 toward the completion of a well in a producing
field east of Enid, Oklahoma, on land owned by a Bancroft man. The
headquarters of the Company was in a fair sized city in southern Kansas,
with a department store owner as president, a physician and surgeon as
secretary—and a banker deeply interested in a covered-up sort of way.
The president and the land owner had departed with our money, supposedly
to complete the well—and then we would all most likely be “sitting
pretty.” But in about a week we got notice of a called meeting to vote
$30,000 increase in capital stock. Also, we were advised of the bringing
in of a gas well of ten million feet potential on the lease adjoining
the company ground on the south, still farther away from the known
production area on the north, proving that we were still “sitting
pretty.” Had this been reported before we joined-up with our Southern
Kansas financiers, I, for one, would have kept my money. Sane people do
not let the public in on a speculative enterprise after its success is
practically assured.
Our Wetmore “investors”, gave me proxies, and sent me down to
investigate. I first went with the land-owner to the Oklahoma field. We
found no activity at the well on his land, but the rig was still up.
And the drillers were working on the reported gas strike just across the
road. They told me that they had struck a small flow of gas—that it was
not strong enough to blow your hat off the casing.
I got back to the Kansas headquarters on Saturday about noon, and went
at once to the department store owned by the president. He introduced
his wife, who worked in the store, and his father-in-law, whom I shall
call Mr. Shapp—though this is not his real name. The president insisted
that I take dinner with him at his home. I sensed something was
wrong—but I couldn’t place it just yet. I learned later that Dr. Lapham
had got wise to something pertaining to the call for an increase of
capital stock, and had written him a critical letter. Dr. Lapham told me
later that it was a “scorcher”—and I can well believe it was. They were
all rather upset. Of course the president, and the secretary, and the
banker, knew some things which I didn’t know—yet. My dinner host was a
bit “jumpy” because of that “scorcher” letter of Dr. Lap-ham’s, and my
appearance two days in advance of the called meeting. But had he known
what I had just learned at the dinner table, he could have trusted me
implicitly.
Some years prior to this I had sold, through advertisement in the Topeka
Capital, 500 shares of our mining stock to the fictitious Monroe P.
Shapp, of that address, and through him 200 shares in the name of his
daughter, Ella J. Shapp. Now, when the merchant called his wife “Ella” I
put two and two together—then I knew that I was among old friends. And I
couldn’t find it in my heart to get rough with them.