"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."
Erected by Harry G. Benson and Family.
Topics. This historical marker is listed in these topic lists: Environment • Indigenous Peoples and Communities • Industry & Commerce • Settlements & Settlers. A significant historical month for this entry is March 1925.
Location. 36° 39.975′ N, 96° 20.418′ W. Marker is in Pawhuska, Oklahoma, in Osage County. It is on Grandview
this page online
Regionally, this marker is in the Osage Nation and in Greater Tulsa. It is also in the American South, specifically on the prairies, and on the Southern Plains. Globally, it is in North America, the Western Hemisphere, the Western World, and the Anglosphere. Historically, it finds itself in what was once the territory of the Mississippian Culture and also the Louisiana Purchase.
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 (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
Regarding "Million Dollar Elm". The elm tree no longer exists.
Also see . . .
1. Million Dollar Elm. Encyclopedia of Oklahoma website entry (Submitted on May 31, 2022, by Larry Gertner of New York, New York.)
2. Osage Nation. Website homepage (Submitted on March 1, 2015, by William Fischer, Jr. of Reynoldsburg, Ohio.)
3. Osage Agency. Bureau of Indian Affairs website entry (Submitted on March 1, 2015, by William Fischer, Jr. of Reynoldsburg, Ohio.)
Credits. This page was last revised on May 31, 2022. It was originally submitted on March 1, 2015, by William Fischer, Jr. of Reynoldsburg, Ohio. This page has been viewed 1,306 times since then and 50 times this year. Photos: 1, 2. submitted on March 1, 2015, by William Fischer, Jr. of Reynoldsburg, Ohio.
