The herald., 1895-05-25
AN OPENING FOR CAPITAL

The great development our local coal OIL
industry is enjoying should suggest the es-
tablishment Of an enterprise that would
prove exceedingly profitable to It's pro-
moters and materially assist in placing
the business OF producing oil upon a
permanent and lucrative basis. we reier
to an oil storage concern, the business
of which woulu be to furnish storing
capacity for the oil wells not possessing
ample tank facilities and to Iend
money upon the product stored with III.
Just as warehouses now advance funds on
grain and hay. Institutions OF this
character have become consplcuousiy
identified with the oil interests OF the
east and there is no reason why, Win lu-
dicious management, they should not be
equally successful here. A well capital
lied and RESPONSE BILE firm or corporation
engaged in this line would soon help to
give stability to the oil market and lndl-
rectly induce consumption OF the article.
In time the cert ificates issued by the
storage company would become as bank
able as the receipts of warehouses are at
present and thus a largesamount OF cap
ital now more or less idle might be utll-
ICED to stimulate production in the OIL
nslc. People owning or in position to
control valuable oil properties would not
hesitate to invest their means IN the de-
velopment of the same, if they knew that
the output OF their wells could be made
available as security to reasonable
extent. The ability to borrow would hold
up the price by obviating the necessity
Of people of small means selling at sacri
nce prices when the demand happened
to grow slack. It would favorably affect
consumption because the storage or sccu-
mutation OF large quantities of oil would
eradicate tho fear that under existing
conditions prevents so many fuel consum-
ing establishments adopting oil, the fear
th at in case Of any exceptional demand
or temporary diminution in the output,
the supply would fall short of the require
ments. A healthy reserve of oil in storage
would beget confidence il the commodity
very much as cash reserve IN banks cul-
tivates q sense Of security in the latter s
obligations. There is little doubt
about . large proportion OF manufac.
turers and railroad companies be-
ing favorsbly impressed with oil as
. 4 fuel. It's cheapness as compared
with coal has been amply demonstrated
some authorities claiming it to be fully
so to so per cent cheaper. On the score
Of economy it need fear no competition. !.
and economy is the most essential guam
tity in fuel. But in order to adapt their
furnaces and fire boxes to the use of oil,
the great fuel consumers would be COM
PEELED to 60 to considerable expense, and
ynce fitted for oil, their plants would be
untitted for coal or wood. A hesitancy
sbout making the change is therefore
natural. But once let the consumers be
convinced that supply far in excess of
he demand will be kept continuously on
tap, and the doubt that is like barrier
to the general adoption OF oil will disap-
pear. Suppose some Of our citizens with
plenty Of time and an abundance OF
money, and who are everlastingly COM
planning Of lack of opportunity for safe
and profitable investment. investigate the
opening that, as We said in the begin
ming, seems to be suggested by the splen-
did. oil development we are now witness
iHvs'