Excerpt: ...subscribed for in half an hour. From the bootblack at the hotel to the banker, everybody wanted stock in every company drilling within a reasonable distance of Jackpot Number Three. Many legitimate incorporations appeared on the books of the Secretary of State, and along with these were scores of frauds intended only to gull the small investor and separate him from his money. Saloons and gambling-houses, which did business with such childlike candor and stridency, became offices for the sale and exchange of ...
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Excerpt: ...subscribed for in half an hour. From the bootblack at the hotel to the banker, everybody wanted stock in every company drilling within a reasonable distance of Jackpot Number Three. Many legitimate incorporations appeared on the books of the Secretary of State, and along with these were scores of frauds intended only to gull the small investor and separate him from his money. Saloons and gambling-houses, which did business with such childlike candor and stridency, became offices for the sale and exchange of stock. The boom at Malapi got its second wind. Workmen, investors, capitalists, and crooks poured in to take advantage of the inflation brought about by the new strike in a hitherto unknown field. For the fame of Jackpot Number Three had spread wide. The production guesses ranged all the way from ten to fifty thousand barrels a day, most of which was still going to waste on the desert. For Burns and Hart had not yet gained control over the flow, though an army of men in overalls and slickers fought the gusher night and day. The flow never ceased for a moment. The well steadily spouted a stream of black liquid into the air from the subterranean chamber into which the underground lake poured. The attack had two objectives. The first was to check the outrush of oil. The second was to save the wealth emerging from the mouth of the well and streaming over the lip of the reservoir to the sandy desert. A crew of men, divided into three shifts, worked with pick, shovel, and scraper to dig a second and a third sump hole. The dirt from the excavation was dumped at the edge of the working to build a dam for the fluid. Sacks filled with wet sand reinforced this dirt. Meanwhile the oil boiled up in the lake and flowed over its edges in streams. As soon as the second reservoir was ready the tarry stuff was siphoned into it from the original sump hole. By the time this was full a third pool was finished, and into it the overflow was diverted. But in spite of...
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