The herald., 1894-12-26
ANOTHER Los ANGELES GUSHER.
The Metropolitan Oil COmpany's
Rich Strike.
An Output of 260 Barrels in Twenty
four Hours.
Splendid Prospects Tor the Barly Estab-
lishment OF a Local Oil
Exchange.

Some reference was made yesterday in THE
HERALD's article on the oil industry to the
gusher OF the Metropolitan Oil company on
West State street, near Toluco The rating of
this well was given to TIE HERALD few days
ago as 100 barrels day. Since then the we'll
has been rigged with a pumping apparatus,
which was set in motion ct 3 o'c,ock Monday
afternoon, and at p. m. yesterday the guam
tity of oil OBJ aimed in the preceding "a hours
was exactly 260 barrels. This is the best record
made in the district, with the possible excep-
tlon OF Van SlyRe 81 Perkins No. well on the
opposite side OF State street, from which 1t is
alleged 29O barrels were bailed last week in ~
hours. The latter well is not yet completed
and the propfietors do not anticipate that IL
Will be any better producer than the big well
OF the Metropolitan company.
Inc Metropolitan gusher for so IL may in
truth be called ii 1t keeps up its present dow
IS located on one OF the three lots leased from
Mr. Thomis Golding, and the very first lot
which Mr.. Godins bought at large auction
sale by the Los Angeles Improvement company
eight years ego. lC is lot 3, block 8, of that
company's subdivision
Ihe well was commenced three months ago
ana gave such trouble by caving, etc., during
the work That the owners were eorely tempted
to abandon il, but they pushed dowa 10
depth Of O2O feet. slil was struck about
week ago and it rose 300 feet in the well. II
subsequently, rose 10 q heip int Of 900 feet, but
much difficulty was experienced Ill putting in
a pump isrge enough TO keep the hole free of
the accommodating product ihis was finally
accompil med and pumping commenced Mon
dag afternoon with the result already stated.
MI. u. A. umner, secretary OF The Metropo-
1tan OIL company, stated yesterday afternoon
thst 1t was NOT expected that the well would
long continue its present copious flow, but that
IL would undoubtedly remain one Of the best
wells in the district.
Mr. sumner further stated that the ,inpany
is at present disposing OF the product at a fair
Price but that the market was as yet greatly
demoraltzed. lie thought, however that by
tue first of the year the Producers Oh com pany
would be in q position to handle the entire
product OF this district aud that prices would
soon thereafter become settled. He thought 81
WOu be q bout the figure. 1t was not tn3 OBJ
lect OF the Producers company to enter a war
oi competition; al they would ask would be
sumer, but II the Union ell company WAS bent
on putting the price down to so cents. as had
been threatened, the local producers would al
ways have the advantage of the 20 cents q bar
rel which IL costs TO deliver Ventura oil in Los
Angeles The local producers could sell oil ut
80 cents barrel If necessary, but he could see
no reason for such rulnous com petition, as
with the daily increasing demand for crude Pc
troeum there would undoubtedly be Il market
figures
The establishment Of an oil exchange
through whicn til Q local oil business can be
conducted systematically and with satisfaction
TO all parties, Mr.. Sumner thought was only
question OF short Time. satisfactory progress
is being made in this direction and arrange
ments will soon be completed.
The Metropolitan Oil company he's q storage
capacity for its big well of 1900 barrels, and
will Immediately begin The construction of ad-
ditonal tanks. Mr.. z. L. Dohcny is president
OF the company.