The herald., 1894-09-25
OUR NRW INDUSTRY.

The discovery Of oil in large quanti-
ties in our city is subject OF such vast
interest ss to merit the utmost attention
from all concerned in the progress and
prosperity OF the giant city Of the
south. A stimulus has been given to
the sinking of new wells by the late
strike of ''gusher," and derricks are
making their appearance at points con-
sidersbly distant from the original oil
center. As the flowing Susskind well is
far out OF the range of the original dis
coveries. prospecting will now take q
much wider latitude than before. As
there is no telling how far the paying
oil belt may extend. landowners in all
parts OF the district west of North Pearl
street are excited with the possibility
tn at their lots may cover valuable oil
claims.
Should further discoveries be made in
the new locations they will be OF far
more value to the general public than If
the belt were confined to narrow space.
Tbe danger. In a &c neral sense, of con.
trscted district may not at first sight be
appreciated. But it is evident that if
only a limited number of wells are dis.
covered, however valuable the output,
the industry would be in danger of fall.
ing into the hands of the oil monopoly.
This was what occurred in the Newhall
region. The oil claims were quietly
bought up by San Francisco parties, and
almost before we could foresee the trend
of things, the whole district was in the
hands of monopoly that made its
terms with the Standard Oil company.
What was the result? Although an
immense interest sprang up in Pico
cafion and vicinity, and millions upon
millions OF dollars were made out OF the
industry, nearly all OF this vast wealth,
which ought to have gone to build up
Los Angeles, was directed north. Rs- |
fineries which should have been estab-
lished in our vicinity to treat these crude
oils were erected in Oakland, and the
whole of the output, which legtimately
belonged to US, went to enrich people
who had neither part nor lot with tho
development and prosperity OF our
locality.
The wider and more extended the oil
discoveries become in the present in
stance, the more shall we be secured
against repetition OF our sorry New.
hall experience. 1t is not so easy 20
buy up oil claims located In a city like
Los Angeles as it was to secure them in
he San Fernando mountains. In the
irst place the land on which they are
ocated is valuable, even irrespective of
Is Oil possibilities. Then, the dis
'overies have at once added to that
'alue, and sympathetically the prices of
ots in the whole vicinity have gone up
It rattling rate. AS the oil district
preads the chances for o monopoly to
.es;-.- it--s-e-is- -haaan,a-raaxa difienlt
Indeed, even confined to the present
Irea, and with the advance OF the price
# realty in the vicinity it would tax
he Standard trust itself to buy up the
whole district.
We therefore feel pretty we'll assured
against repetition Of the Newhall ex-
oerience here. and believe that our local
,il industry will be held within ourselves,
and become legitimate adjunct to the
development and growth OF our city.
We shall soon know how far the oil
extends. and how great the
output may become. AS
soon ss certain facts are ascertained, re-
fineries will bs established at proper
- n
made into the clear fluid OF commerce.
We shall have an ample supply OF the
crude petroleum to justify the establish
ment here OF wide line OF manufac-
tories and the erection OF extensive
smelling works, so that there will be no
danger that this valuable discovery
shall 60 to enrich strangers, az was the