This psychic reading given by Edgar Cayce at the Hotel McAlpin, Broadway at 34th Street, New York City, this 31st day of March, 1921.
P R E S E N T
Edgar Cayce; G. K. Nicodemus, Conductor and Steno.
R E A D I N G
Time of Reading Unknown.
1. EC: Yes, we have it here, we have had it before.
2. (Q) What are the conditions of the affairs of the Cayce Petroleum Co. of Texas, Mr. Cayce? (A) The condition of the affairs of the Cayce Petroleum Co. of Texas at this time, March 31st, 1921, are very good. This organization of the Company in itself, you see, which was perfected some time ago, is very good; we have had it before. The beginning of the operations on the property have begun in part in the various properties. The leases and lease holdings of the Company have been extended a sufficient time to give enough time to obtain the finances necessary to complete the operations for the success of the Company. Without this extension, of course, it would have been impractical. With the status or promise to the holders of the acreage it would have been impossible to have begun in sufficient time to have held with the policy as set out by the Company. Yet the increase in the value of the acreage, with the development in the various fields, especially this in South Texas, and those not in Texas, to have made sufficient income for the development of the rest of the properties in time to have made a success for all of those interested in the affairs of the Cayce Petroleum Co. These are the conditions that we find in the general lines of the Company. Now as to the development toward South Texas, that is toward Smiley you see, the rig that is the timbers for same, are on the grounds, unloaded; while we find in San Saba that the property has been prepared for the operations themselves. We have the rig, the house, and the people as well as the machinery for spudding the well in; and we see that this has been begun, that is the making of the hole itself. That is by the spudding machine, not by the larger tools; those we find in North Texas field that has been acquired by the same Company; these tools are not on the San Saba property itself. The arrangement is waiting on the finances that are expected to be sent in to the Company.
3. (Q) How deep has this spudding gone down, Mr. Cayce?
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(A) 125 ft. is the depth of the hole. Now you see that they have the water for the machine. It is a small machine, you see. This hole was begun on the 19th of Feb., this rig was set, and this hole was made here.
4. (Q) When did they reach the depth of 125 ft. Mr. Cayce? (A) Some days ago; on the 14th of March.
5. (Q) Have the suggestions in previous readings on the C.P. Co. been followed precisely, Mr. Cayce? (A) Of late we find that many of these have been followed precisely. We find that there were many toward the first that were not followed precisely. In following these readings the raising of the financial funds will proceed. The lines are being brought to bear, you see, through all of these channels and forces, and are being worked out; yet the business ends were not followed toward the first; but it will be a success if followed as we have given here. Keep entire separate the forces in the world and the business side of oil production and development on the property, see? Especially where those are interested in the psychical or occult do those things that bring about financial gain to those interested in such work, and to develop credence in such persons, assistance can and will be gained; and those so shown and given credence will invest their means in such work. Those who who look only to the business end of the property must be kept entirely separate and inviolate. Do that and we will find success for the Cayce Petroleum Co. There has been money paid in by those interested, there has also been moneys paid in by the promoters themselves; not all have paid the full amount of their pledge personally, but all have paid the full amount promised on paper. All will keep up this as promised to the full amount of $2007.00.
6. (Q) How long will it take Martin & Co. to supply the Cayce Co. with $100,000, Mr. Cayce? (A) That depends on outside forces. They should be able to supply it in the next few days. There have been many that have been interested in the Cayce Petroleum Co. through Martin & Co., as we have had before; as these are still kept interested and closed from time to time, and kept up, we will find that it will increase in force.
7. (Q) Who is responsible for the report that operations have not started on the San Saba property, Mr. Cayce? (A) Those who own acreage and wish to obtain the holdings of the Cayce Company close to and adjoining this property.
8. (Q) Is this report absolutely false, Mr. Cayce? (A) Certainly; they have begun operations on the property.
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Not full developments, but they have begun that which would hold in any court in the world. The tools for the heavier drilling were not on the property, but the machinery for spudding in the wells are on the property, this well will produce 40,000 barrels at 2600 ft.
9. (Q) Are all of the officers and trustees doing as they should? (A) That would depend on the view we would take of what was needed. When the operations are begun there are some that are officers at present that will not be there; there are officers that are now trustees that will have the affair in hand; these will be changed to meet the needs of the situation. They are not all doing what was expected of them in the Cayce Petroleum Co.
10. (Q) Have any of these men misinformed Mr. Cayce at any time? (A) No, we have no misinformation.
11. (Q) What happened that the sufficient amount was not raised by the 29th, Mr. Cayce? (A) Because all of the ends that should have been followed were not followed; there is a sufficient amount to carry on the work in fact, but not in reality. The first purpose of all is to begin, when the first purpose is settled, it is a settled fact, but the reality must be brought through.
12. (Q) Have you any instructions for the Cayce Petroleum Co., Mr. Cayce? (A) We have not any.
13. (Q) Tell us how Martin & Co. can hasten this work more rapidly, Mr. Cayce? (A) There are some where concessions must be made; some are holding off on account of the condition of the Company; some are holding off on account of reports on the Company.
14. (Q) Tell us if Mr. Potter will be of assistance to the Company Mr. Cayce? [Frederick G. Potter? He obtained a Physical Rdg. in April 1921.] (A) If the right influences are brought to bear he will be, if he is approached properly he will be. That is if he would receive benefits personally, first place his money in the Cayce Company.
15. (Q) When will Mr. Cayce and Mr. Nicodemus make their trip south? (A) When there are sufficient funds to begin operations.
16. (Q) When will that be, Mr. Cayce? (A) That will be in the future.
17. (Q) What amount will be sufficient for that trip? (A) $15,000 to $20,000.
18. (Q) Is it advisable for Mr. Cayce to go to Texas and supervise this work? (A) It will be best for him to get the money first.
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