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H. KEMPNER Gahrstont, Jrxas August 27, 199 AIRMAIL Mr. I. H. Kempner c/o Whiteface Inn Lake Placid, New York Dear Mr. Ikes Mr. Malcolm Gresham who deals in oil leases and royalties and with whom we have had previous dealings regarding property in the Independence Grove Addition, Harris County, is connected with Mr. C. P. Chisholm, wants to lease our one-half interest in 297.2 acres in Wharton County, paying us $12.50 per acre, five year commercial lease, $2.00 per year rental. In other words, we would get $6.25 per acre on the 297.2 acres. As you know we sold this property to Mr. Heine of Wharton, Texas. I talked to Mr. Heine this morning and told him that I had had a phone conversation with !r. Gresham, who advised me that he was willing to lease this acreage on the basis of $12.50 per acre. Mr. Heine stated that he did not tell Mr. Gresham that he would lease for this figure and that they had not made up their minds what price to ask for the acreage, as all of this property was being blocked up and a well was brought in across the river from said property, which was reported to be one of largest wells in Wharton County. They also D brought in a well a on , which is two or three miles from 'pro-T ajn arrstrata is nown as the Wilcox. Mr. Heine said it might pay us to drive up to Wharton and look the situation over, as he was of the opinion that it was one of the largest gas distilate fields in Texas. I told Mr. Gresham that you were out of town and it would be necessary for me to first confer with you, however, I think perhaps that I will drive up to 1Iharton the early part of next week and see what other information I can gather. Mr. Heine definitely stated that he would not be interest in leasing at $12.50 per acre. I would appreciate if each of you would let me have your re. action to the above. Yours since7, cc: Mr. R. Lee Kempner c/o El Encanto Hotel Santa Barbara, California
Letter from A. H. Blackshear Jr. to I. H. Kempner discussing the potential for a rental lease for some property that the Kempners' are affiliated with in Wharton, Texas. Blackshear mentions that there is some confusion regarding the proposed price-per-acre, and also states that he will make a trip to Wharton to further discuss the matter with those involved.
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