This Psychic Reading given by Edgar Cayce at the Tutwiler Hotel, Birmingham, Alabama, this 13th day of November, 1922.
P R E S E N T
Edgar Cayce; Frank E. Mohr, Conductor; (?), Steno. [3940].
R E A D I N G
Time of Reading 11:30 A. M. St. Claire Co., Alabama.
1. FEM: Now Mr. Cayce, you are going to sleep. Now Mr. Cayce, you are asleep and all of the organs of your body will function properly, and you will hear me and answer all of my questions.
Your will have before you the body [3940], and the body is present in this room. He wants you to tell him how to finance the drilling of a well for oil, which you specifically located at 10:30 P.M. Nov. 12th.
Now Mr. Cayce, give us a plan by which we may have this land drilled and the oil gotten out and sold satisfactorily. Will you give us plain unmistakable instructions as to the very first steps to be taken that will prove effective in this matter and will it be feasible to sell leases to the amount necessary for the development of a single producing well, thus enabling Mr. [3940] to retain controlling interest in his lands, and what is the first and best step for Mr. [3940] to take at this time relative to obtaining a paying well of oil on the land he owns, in St. Claire County, Alabama, also, what business are the men engaged in at present, who will help or who will finance the drilling of well on Mr. [3940]'s land? Should Mr. [3940] finance the drilling of the first well, if he should have to finance it? Will this well be drilled on the spot designated by and about when?
2. EC: Yes, we have the proposition here as to how to finance the proposition for the development of the oil in this location. Now there are more than one manner in which this may be financed or handled to as satisfactory result to all concerned. These we will outline as we would have from here: First, as we have given, there are others that are interested in the proposition. They will be willing to furnish the finances necessary to make a complete and satisfactory investigation of the possibilities as shown here. Under this condition, we would find the least chance for a very large return according to the way the contract would be made for the more interests as held in the individual, that is [3940], you see, the more returns
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naturally that is to come, yet this is from the purely financial possibilities would or could be, were the contract made specific before [and] binding as to make a forfeiture if contract is not carried out to the completion or it may be handled in this manner and form: The lands would be laid out giving the maps and local conditions and the possibility of development on locating oil, here from all its sources that he, [3940], has in hand. The acreage would then be checker-boarded and for each parcel or tract of land obtained that is sold, you see, there will be issued to this body the acreage that is lease on same, and an interest commensurate in the outcome of the developments on these lands, then we have each individual as interested would be not only interest in their own holdings, but also, in all of the developments carried out by a prospective Company. Either of these present a very feasible working plan. We would use the former, see, for the best results with an individual understanding of the kind of formations encountered and for the possibilities of the extra large returns. The last might be or could be made to be the very best. Do that as we would finance this proposition.
3. (Q) Mr. Cayce, do you think that Mr. [3940] should undertake to finance this proposition from his own resources. (A) If we had felt that, that were the better plan, we would have given that. The more that are interested in the development of the country and of the specific indications as shown, the better will be the handling of the proposition throughout than financing individually under the conditions. It is too great a risk for one individual unless one understands, as it were, all the interests of the game, as it were, of oil's parlance.
4. (Q) Mr. Cayce, what business are the men engaged in at present, who you believe will help finance the drilling of this well on Mr. [3940]'s lands. (A) Don't find these, only impressions of dealers in estate, real estate and kindred conditions.
5. (Q) Have you any thing further, Mr. Cayce, to say on this proposition? (A) Follow that of those lines, that is, one or the other, you see.