Swiss Oil Com - Putnam

Ten Greencastle men and three Ladoga men will, as the result of a sale of oil leases on Saturday, divide $400,000.

The leases are in Kentucky. Only a few weeks ago these men paid only $18,000 for the leases.

Fred Hillis, a former Greencastie man, who has been in the Kentucky oil fields for the past few years, is responsible for the financial coup of the local men.

A few months ago he secured options on 474 acres of oil leases in Kentucky for $18,000. Mr. Hillis believed the leases a good investment and came to Greencastle to interest several of his friends in the purchase of them.

Those interested are: Ed. Brockway Edward Hamilton Ed. Houck John Houck Albert Houck Chris Stoner F. M. Lyon Oscar O’Hair Abe Hillis Edgar Shelby, of Ladoga W. Gill, of Ladoga Elbert Caldwell, of Ladoga.

A short time ago Mr. Hillis and his associates gave the Swiss Oil Company an option on the leases at a price of $400,000. The Swiss Oil Company paid $5,000 on the option, which was to expire Saturday.  On Saturday Edward Brockway, Albert Houck, Ed. Houck and F. M.  Lyon went to Bowling Green, Ky., where they met Mr. Hillis and representatives of the Swiss Oil Company and closed the deal. It is said that the leases sold by the local men are now valued at a million dollars, due to developments in the field.

Fred Hillis had the largest interest  in the company, his holdings amounting to approximately one-eighth of the total. On his investment of $2,250 he will receive approximately $49,950.