The Ward County Independent (ND)
September 22, 1921
W. Hagenstein Says Oil is Cheap
W. Hagenstein of Caddo, Okla. is visiting at the home of his brother, A. D. Hagenstein. He is interested in the oil business in the south and assisted in bringing in another gusher about a month ago. New oil development is being discouraged just now, Mr. Hagenstein says, owing to the low price of the product. A barrel of crude oil brings only a dollar a barrel while two years ago it was worth four dollars. The cotton crop in Oklahoma is poor, he says, but the corn crop is heavy. He prospected in the Ozarks enroute to Minot. He homesteaded in the vicinity of Stanley in 1906 and still owns his land. In 1910 he was employed in the Second National Bank in this city.