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“Bite-Size Bits of Local, National, and Global History”
Pawhuska in Osage County, Oklahoma — The American South (West South Central)
 

“Million Dollar Elm”

 
 
"Million Dollar Elm" Marker image. Click for full size.
By William Fischer, Jr., February 23, 2015
1. "Million Dollar Elm" Marker
Inscription.

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."
 
Erected by Harry G. Benson and Family.
 
Location. 36° 39.975′ N, 96° 20.418′ W. Marker is in Pawhuska, Oklahoma, in Osage County. Marker is on Grandview Avenue north of 7th Street, on the left when traveling north. Click for map. Marker is at or near this postal address: 813 Grandview Avenue, Pawhuska OK 74056, United States of America.
 
Other nearby markers. At least 8 other markers are within walking distance of this marker. Vernon Whiting (about 400 feet away, measured in a direct line); An Answer To Prayer

"Million Dollar Elm" Marker image. Click for full size.
By William Fischer, Jr., February 23, 2015
2. "Million Dollar Elm" Marker
On the BIA Osage Agency campus
(about 400 feet away); Restoring the Whiting Apartments (about 400 feet away); Friendship Between the Osage and the Occitan of Montauban (about 500 feet away); Oil in the Osage Indian Nation and the "Million Dollar Elm" (about 600 feet away); "Osage in the Enemy Camp" (approx. 0.2 miles away); Site of the First Osage Agency Building (approx. 0.2 miles away); Blacksmith Home (approx. 0.2 miles away). Click for a list of all markers in Pawhuska.
 
Regarding "Million Dollar Elm". The elm tree no longer exists.
 
Also see . . .
1. From monopoly to ‘Million Dollar Elm’ (Pawhuska Journal-Capital, 1996). (Submitted on March 1, 2015, by William Fischer, Jr. of Scranton, Pennsylvania.)
2. Osage Nation. (Submitted on March 1, 2015, by William Fischer, Jr. of Scranton, Pennsylvania.)
3. Osage Agency, Bureau of Indian Affairs. (Submitted on March 1, 2015, by William Fischer, Jr. of Scranton, Pennsylvania.)
 
Categories. EnvironmentIndustry & CommerceNative AmericansSettlements & Settlers
 
 
Credits. This page originally submitted on , by William Fischer, Jr. of Scranton, Pennsylvania. This page has been viewed 328 times since then and 33 times this year. Photos:   1, 2. submitted on , by William Fischer, Jr. of Scranton, Pennsylvania. This page was last revised on June 16, 2016.
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