Mineral Rights Start Gushing Cash for Colleges
Oklahoma’s Kingfisher County is at the heart of one of the most active gas and oil areas in the U.S. Ever since new technology opened up areas such as this, the cows haven’t been the only ones enjoying this spot. Also partaking of its bounty: the University of Oklahoma.
Photographer: Andrew Moore for Bloomberg MarketsHenry Mosier enrolled in the University of Oklahoma more than a century ago.
He studied pharmacy and competed in track and field, taking second in the hammer throw at a meet hosted by the University of Texas in 1912. After graduating that year, he became a pharmacist in the town of Edmond, north of Oklahoma City. His wife, Ida, worked in a jewelry store. The couple had no children and lived frugal lives. The oil boom was still young, meanwhile. Customers at the pharmacy where Mosier worked shared tips on mineral rights, which he bought as investments.