Million Dollar Elm - Pawhuska, OK
Posted by: 
Max and 99
N 36° 39.974 W 096° 20.418
14S E 737704 N 4061143
This historical marker for an important part of Osage history is located on Grandview Ave. by the Wah Zha Zhi Health Clinic.
Waymark Code: WM1560R
Location: Oklahoma, United States
Date Posted: 10/22/2021
Views: 0
In a grassy lawn between the Wah Zha Zhi Health Clinic and a law office is an Oklahoma historical marker for what was known as the Million Dollar Elm, for all the million dollar deals on oil leases made to the Osage. The marker is on the east side of a large rock, seen from Grandview.
Text on marker:
Million Dollar Elm
The Osage Tribe of Indians held the first public auction sale for oil leases on Osage Reservation tracts November 11, 1912. Early sales were held under this Elm tree. Bidders sat on bleachers around the tree and the auctioneer, Colonel E. Walters, "cried" the sales.
The first sale in which a 160-acre tract brought a bonus of $1,000,000, or more was March 2, 1922. One tract brought $1,335,000 and another tract brought $1,160,000.
On March 18, 1924 the opening bid on a 160-acre tract was $1,000,000. However the largest bonus ever paid for a tract was $1,990,000 on March 19, 1924.
A total of 18, 160-acre tracts have leased for a bonus of over $1,000,000, thus this tree under which these high bids were made, became known as the "Million Dollar Elm."
Courtesy of Harry G. Benson and Family
County: Osage
Record Address::
715 Grandview Avenue
Pawhuska, OK USA
74056
Web site if available: [Web Link]
Rate the Site: 
Date Erected: Unknown
Sponsor (Who put it there): Harry S. Benson and Family
|
Visit Instructions:1 - Must visit the site in person.
2 - New Photo required.
3 - Give some new insight to the marker/site.
Recent Visits/Logs:
| There are no logs for this waymark yet. |
|
|
|