Los Angeles herald., 1891-06-10
A FOLLY NOT TO BE REPEATED.

Over score of years ago, when the oil
treasures of Pico ca1on and vicinity
were first discovered, they were priced as
one OF the most valuable resources of
this section, and everybody anticipated
that their development would contrib
ute immensely to the prosperity of our
city and section. But what has been
the fact? Parties came here from San
Francisco and bought up the oil claims
from the discoverers and prospectors
for song, and in good time all the
properties got into the clutches of the
Standard Oil company. A lack of fore
sight and enterprise on the part OF men
of wealth whose interests were all here
permitted the ownership of these rich
oil properties to pass into the hands of
foreign monopoly, and an industry that
should have enriched our own people
contributes but a mere trifle to the pros
perity of the locality to which it natur-
ally belongs. The crude oil is shipped
to Alameda and elsewhere to be refined,
and we have to pay for what we con-
sumo ourselves whatever price the
Standard Oil trust sees fit to place upon
it.
Had our local capitalists had the nerve
and sagacity to have availed themselves
of the opportunity for building up this
great oil industry here, they would have
infinitely increased their own riches and
the entire output of the wells would
have been refined here, giving employ
ment to thousands Of our own people
and contributing immensely to the pros
perity of Los Angeles. Not only this,
but check would have been placed
upon the extortionate prices which the
trust is now enabled to exact for its
Illuminating oils. These have gone up
enormously within the past year or two,
and brands that could have been pur-
chased formerly for $3.50 case now
cost $3.50. Our shortsightedness has
indeed brought US to burn our candle at
both ends.
We have adverted to these facts of his
tory for the purpose of working out a
moral and sounding a warning. 1t is
very probable that there will be some
marvellous developments in the oil line
near this city within short period.
Prospecting is going on very energetic
ally at various points, and no one need
be surprised if oil should be struck in
some of the wells now being sunk in
this vicinity. Indeed we may find our
selves not only in a rich oil center, but
we may also have the good fortune
to demonstrate the possession of valu-
able reservoirs of natural gas close at
hand. Should our hopes be realized
let not the Jolly of twenty years ago be
repeated. If the lucky discoverers are
bound to sell, let our own capitalists
step in and buy, so that Los Angeles
shall keep within herself the profits
that must arise from such discoveries.
Is it not shameful that Los Angeles,
the commercial capital of one of the
richest oil regions on the continent, is
in no way benefited by a development
that ought to add immeasurably to her
wealth? Strangers have diverted her
natural riches in oils away from her,
and left ber, as far as these valuable re-
sources are concerned, in the condition
of mining city whose mines have been
despoiled of their precious metals and
carried away to build up and enrich dis
tant communities. If we had only our
oil resources to depend upon we would
be in as bad case as Virginia City or
Mokelumne Hill.
3 The total output OF the oil wells tribu-