The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-12-10
70 BE SHIPPED BY WATER
Oil Exchange Buys Half Interest in
Boat
Producers Object to the Standards Strict
Requirements In Purchasing
Petroleum-Notes.

The directors of the oil exchange held a
very important meeting yesterday after
noon, at which the long-standing question
of water transportation was finally settled.
THE HERALD has previously published ac-
counts of the pending transactions between
the exchange and Mr.. Botsford, the owner
of boat lying at Santa Monica, but until
yesterday nothing definite could be learned
as to what settlement would be made.
The transaction was closed by the exchange
buying half interest in the boat, certain
members agreeing to advance the neces-
sary money.
The exchange is now in position of in
dependence as regards transportation. 1t
is expected to have the boat running be-
tween this point and San Francisco by the
has been secured at the other end of the
line, everything will he in good shape for
the corporation to go ahead and develop
the oil industry without limit.
Oil continues to be sent out from the
field at good rate while prices remain
stationary. just at present. the exchange
is filling some large orders from the north
and will be making shipments of three car
loads day for the next week providing
the necessary facilities can be obtained.
The Standard Oil company s announced
intention of putting up couple OF large
storage tanks has not had the effect of en-
couraging producers to any great extent.
The conditions prescribed by the corpora
ton tor the purchase of petroleum are
such as to bar nine-tenths of the product
of the field. No oil is accepted unless it
comes up to the standard fixed by the
company. namely, fifteen gravity. On
several occasions wagons loaded with oil
have been refused because they co ntained
slightly heavier product than that re-
Quired. Even so small a difference AS
three tenths Of degree causes the oil to
be refused.
Several producers were inter viewed yes
terday and most of them expressed them
selves very strongly on the matter. One
who had had load of oil returned b ecause
it lacked fraction of reaching the fifteen
gravity standard, said that he would never
again attempt to make sales to the Stand
ard on account of their unreasonable
demands. If the price of oil should be
relief would be afforde d if the greater por-
ton of the product of the field is not ac-
copied.
Sterling, Hubbard and Libby are opening
one of their wells on Metcalf street.
The pump has been put in the North we'll
on the corner of Temple and Victor streets,
and a good flow of oil is being raised.
The drill is IT'S feet down in the Cole and
Huntington we'll on Belmont avenue.
The oil sand has been reached in the
Green we'll, on First street above Belmont
avenue.
Well Number 4 of the Rex company has
reached a depth of 400 feet and the drill is
going down at good rate. The rig for
Number > is in process of construction.
Drilling has been resumed in the Davis.
son we'll, on Hobart and West State streets.
Work has been temporarily suspended in
the Daggett and Fletcher we'll, on Edgeware
road, owing to further difficulty with the
tools.
The casing has been pulled from the
Eureka Oil company's we'll on West State
street, with the intention OF drilling
deeper.
good deal of fishing is being done at
different points in the field.