New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-01-23
1854
fAdvertisemenil
A PAYING INVESTMENT.


The Petroleum fever Is still raging and can hnrdy
be said 10 have reached its elimination. The earned
dividends Of many Of the companies are 80 enormous
and regular that people do not hesitate to buy both for
investment and speculation The stock Of one company
for instance was selling few days tncc at 81 per
shareoday il quoted at sls and is probably worth
H. as they have struck well filing 200 barrels per day
While however, Pennsylvania is rich In oil. and the
LANDS bought at fabulous prices are yielding good dVi
dends the recent discovery Of Petroleum in California
in larger quantities than in any other part Of the world
IL attracting the attention Of far seeing shrewd capi
tasts The reports OF Prof siilinan upon the ontcrop
OF oil on what IL called the Oai Ranch at Santa Barbara
California and the other natural of this tract
OF land are truly wonderful strip Of land. running
back from eight to twenty miles from the coast. and
with gradual descending grade 10 the ocean, renders
It's loo alton very accessible and relieves the company
which is now making preparations to gather the oil,
from On immense cost for transportation. With the
outlay Of one two thousand dollars pipes be laid
the entire distance from the coast to the oilands the
only expenditure then necessary will be the lighterage
TO vessels. SO tring their expenses that II has
been estimated that the oil be shipped from Santa
| Barbara TO New-YOrk and sold in competition with
Pennsylvania OIL yielding good profit TO the company
TIE demand however for this article on the Pacific
coast and Australia will be very large and viii absorb
ali the oil that be produced for the first six months
With oil at its very doors the countries which have
been compelled TO use it sphringly heretofore on ac'
count of its high price, will bring into genera
use and the demand for it will increase it has done
on this side of the globe.
1t is estimated that the product of the oil regions Of
Pennsylvania during the past year has not been lcss
than s2 OO This result has been reached after four
years of exploring boring overcoming the difficulties
of transportation and the introducing 1t into the market
for the various 10 which it is now applied. With
all these advantages gained California steps in as
cur riva and in everything else IN which she Is in
terested. she viii far outstripu US.
We called the attention Of our readers to the adj
yertsement of the California Petroleum Company in
last issue and Endorsed it probably the best opportu
nifty for paying investments offered to the public in
this class Of securities. We reiterate what we then
wrote The gentlemen who have this property are
men who never would allow their to be connected
with any company which they did not believe to be all
that is represented From the evidence which we have.
both from Professor Siman in his report, and from j..
b. Church, his brother.inaw who has just returned
from California having visited the property md who
been engaged in the Petroleum trade since its start
should not be surprised II this property in the course
OF few years equal in value to the whole Oil Greek
lands yielding oil
As the majority Of the working capital has already
been subscribed. and the balance will DO soon TAKEN
the Company have engaged Prof james L. Hodge and
an able corps of assistants, who start 10 the next
steamer for California They will take with them all
the necessary tools and machinery and hope soon to
ship their oil in large quantities. independent
| John Z. Williams. esq, President Of the Metropol
tan Bank is the Treasurer Persons desiring to sub
scribe must do 80 at once, the subscription book will
| be closed in a few days.