During the year 1898 the village of Oakford was the only town in the county without a coal shaft. At this time considerable interest was built up to explore the possibilities of a shaft being sunk. The village board appropriated $150, railroad $133, John Armstrong $48.71, Robert Ishmael $15.55, E.S. Cheaney & Co. $15.85, and J.D. Perkin for the project. The shaft was sunk on the west bank of Mott Creed in the northwest corner of the Henry Baker farm about a mile south of town. The old timers said the project was successful and that coal was mined; however, the operator of the sinking of the shaft caused a cave-in and the project was dropped. Some say the promoter was bought off by coal interest further south. No other attempt was ever made to mine coal again.