The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-12-02

t'o" "s hstrer civ Ro. " AiID Ital, Ns-f, No..lL
Since petroleum has become an important
article Of commerce. and q necessity Of social
economy, every new discovery which tends 10
increase the supply or improve it. quality be-
comes a matter Of interest to everybody. Our
people are perhaps not generally aware tn4t
Colorado can produce her own ol-nO- only euf-
ncient for nome con,UmptiOn, but a full supply
Tor tie neighboring territories. Good indications
Of coal or rock oil have been found in various
places, hut the only springs that yet seem 70 be
worth working are those uCar Canon City. Those
have been improved 70 some cXtsnt, but not suhl-
GENTLY to yield any very considerable luintity
OF oil. The natural flow from the surface is about
one barrel per day. and il is reasonab TO suppose
that the quantity can ne indefinitely increased by
judicilus and extensive borings.
We believe that in no other part Of the United
States are the surface indications rs good as 40
the springs named. In the rich oil regions OF
Ohio and Pennsylvania, we believe that surface
indications are very rare. Il is found by deep
bOriugs, and seldom, ii ever, flows from natural
springs The fact that we have here large oil
spring would seem to indicate an unusual quan.
tity OF it beneath. But the parties who have thus
far been improving them have not been very
successful, owing mainly, no doubt to their
mited means. Recently, Colonel c. p. Sykes
has become interested in them TO q considerable
extent, and day or two since he left for the
East, 10 make arrangements for extensively i'm
proving and working them. He is an active, en-
terprisiDg business man and practical miner,
having had several years experience in the gold
mines Of the Territory.
Colorado alone consumes over two hundred
thousand gallons Of refined coal oil pCr year, and
the quantity used is constantly increasing. Al
of this has TO be transported across the plains, Il
distance Of seven hundred miles, at cost for
freight alone of from one TO two dollars per GAL
Ion. Putting it atthe lowest figure, and we pay
upon the transportation of refined oil alone two
hundred thousand dollars per year, which will
be saved if we can produce the requisite quantity
of oil at home. The territories surrounding us
doubtless use as much more which will be pur-
chased here whenever IL can be done to their ad-
vantage. TO this large estimate is yet TO be added
crude petroleum as a lubricatOr for machinery,
for which purpose il is found 70 be admirably
adapted. Some or our mining companies are
already using for that purpose the nltural oil from
the springs named, and they pronounce it the best
article they can obtain.
We Eaye then an estimated consumption Of not
less than half n million gallons per 0nnumi OF
which market Colorado can enjoy the monopoly.
The freight alone upon this quantity, estlm ltlng
it at the very low price Of one dollar per gallon,
amounts to five hundred thousand dollars per
year, which would pay an interest OF tn per cent
per annum upon the investment of live millions
Of dollars, or twenty per cent upon half tnai
amount; and there is but little doubt that the
| iudciOus investment of a quarter Of million dol
| lars even viii secure that eud. such being th'
case, there can be better opening Tor the invest
| ment of capital.
| What is necessary is to procure the best elias
| of machinery for boring, pumping, and refining
| The oil should be made as good can be Oh
tanned from the States, and depOts should b
| opened for its sale. In connection with the latte
there should be kept lamps, and everything tina
is used in c0nre eCtion with it. Capitalists cal
| make their own deductions from these facts anj
figures, and we hope that some one or more vii
| feel sufficient encOurs cement 20 undertake III
enterprise. Certainly none promises larger %
| more certain returns, and no single undcriakin
can confer greater benefits upon Colorado.