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-
lshment 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
Vest State street, near TolucO The rating of
TINS well was given to TIE HERALD few days
ago as 100 barrels day Since then the well
has been rigged with pumping apparatus
which was set in motion at 3 o'c ock Monday
afternoon, and at p. m. yesterday the guam
tty OF oil OBJ aimed in the preceding "a hours
was exactly 2G0 barrels. This is the best record
made in the district, with the possible excep-
tion OF Van slyke & Perkins No. 3 wel on the
opposite side State street, from which it is
alleged 290 barrels were bailed last week in 10
hours. he latter well is not yet completed
ana the prop'letoIs do not anticipate that 1T
WIZ pe any better producer than the big well
OF the Mefopolttan company.
The Metropolitan gusher for so it may in
truth be called IL 1t keeps up its present dow
is located on one OF the three lots leased from
MT Thomis Cooling, and the very first lot
which Mr. Go ding bought at o large auction
sale by the Los angeles Improvement company
elsh' years ago IL Is lot :, block 9, of that
company's subdivision,
The well was commen ced three months ago
ana gave such trouble by caving, ETC., during
the work that the owners were sorely tempted
10 abandon u, but they pushed on dowi 10
depth ~ 1910 feet. oil WAS struck about a
week sgo and it rose 300 feet in the well. II
subsequently, rose 10 q heil Int of 900 feet, but
much uIfculty was experienced III putting in
a pump large enough to keep the bole free of
the accommodating product Ghis was finally
accompl1 ned and pumping commenced Mon
uag afternoon with The result already stated
MI. U. A. umneI, secretary OF The Metropol
lllan Oll company, stated yesterday afternoon
tnAt IL was noJ expected that the well would
long continue its present copious dow, but that
III would undoubtedly remain one OF the best
wells in the district.
MI GUNNER further stated that the ,snpdny
Is ut present disposing of the product ut fair
grlce but that the market WAS as yet greatly
demoralizeo. lie thought, however that by
tue first of the year the Producers On com pany
would be in position to handle the entire
product Of this district, aud that prices would
soon thereafter become settled. He thought 81
W0u d be about the figure. 1t was not tine OBJ.
lect OF the Producers company to enter war
Of competitions al they would ask would be
price lair to both the producer and the con-
sumner, but II cpG Union Oil company was bent
on putting the price down to so cents, as had
been threatened the local pro 1ucers would al
rel which it costs to deliver Ventura oil in Los
Angeles. The local producers could sell oil at
80 cents barrel IL necessary, but he could see
no reason for such ruinous competition, us
with the daily increasing demand for crude pe-
tToleum, ther9 would undoubtedly be Il market
for the entire local production at profitable
figures.
The esta blishment OF an oil exchange
through whicn tn Q local oil business eau be
conducted syst smatically and with satisfaction
to Ill parties, Mr.. Sumner thought was only
question OF Il short Time. satisfactory progress
is being made in this dire elton and arrange
ments will soon be completed.
The Metropolitan Oil company hes storage
capacity for its big well of 1900 barrels, and
will Immediately begin The construction of ad-
ditional TANKS. Mr.. z. L, Doheny is president
of the COfopauy