The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-10-29

uNue" W0aL ~ was WUrIHs
This is thin first really organized en-
deavor that has been made to bear the
local oil market since the discovery of
petroleum was made IN this field. The
system was to send out false dummy re-
ports Of sales at 90 and IS cents barrel
and then to step in and bid 40 cents Tor
small lot of from fifty to seventy
five barrels. These reports were persist
emily run down bat not one of them was
found to be true. There has been no sale
OF oil worth speaking of during the past
week at 50 cents.
Parties who have contracted to supply
oil at low figure for term of months
TO local consumers are becoming fright
ened at the upward tendency OF the mar
ket. They are making a grand scram Bile
to cover. They are buying oil all they
can lay hands on and they are the peo-
pie who are In most instances interested
in the deal to bear the market by the
relation OF false reports
SHIPMENTS NORTH.
From Septem Der LIST to date sixty five
carloads of oil have been dispatched to
San Francisco by rail. This month forty
carloads have been sent. Every barrel
has found a ready sale in the northern
market at $1.35 per barrel. The trans
portation charges of the Southern Pacific
railroad have been 81 cents per barrel.
The cost of moving the oil from the
tanks to the cars was about cents a
barrel SO that the shipper has netted rs
cents on every barrel handled in this
way, deducting commissions and all
other charges. This certainly is elcour-
aging.
The question of the construction of a
pipe line to Redondo Beach is now prac-
tically settled. AT least that is is what is
claimed at the Oil Exchange. 1t is as
serted that the line will be laid at once
and pushed to completion as rapidly as
money and men can bring about that
result. Then line of tank steamers will
be put on and the cost of transporting a
barrel OF oil from Los Angeles to San
Francisco will 30 % cents. This bsing
the case, 81 oil is q thing to be looked for
in the immdiate future.
IN THE DISTRICT.
in the oil district the work Of deepen
ing wells and thereby increasing the
flow has gone steadily on. In one block
nine wells are being deepened or the
work of putting them down further will
commence during the first three days OF
the coming week. The waste from all
wells is better confined now than it ever
has been before, and residents OF the dis
trict are rrespondingly happy, for they
are now enabled to take few steps off
their own premises without wading in
the stuff up to their ankles. The smoke
nuisance has been largely done away
with and the creaking gear of wells is a
thing of the past. These improved con-
ditions take away all OF the terrors or a
residence in the old district, and the re-
suit is that real estate values IN that vi
entity have gone up materially. There
is q great demand for houses to rent in
the district, and there is more building
going on both in tile oil territory and In
the adjoining sections right now than
has been witnessed for three years.
NEW TANKS GOING UP.
The oil exchange, through its board OF
directors, has already passed upon and
approved the specifications for two IL DOC
barrel tanks. These tanks will be erected
on Buena Vista street on ground secured
from the Southern Pacific company. They
| will have all appliances of the latest in
vention for fast loading. After these
tanks are mpleted and in use it is the
intention to erect several others.
In addition to this it is designed to
| construct in San Francisco large tank
| having a stoarge capacity OF $4,000 bar
| res. This Will be used to store ths prod
uct after it reaches san Francisco.
| The statement is further MADE officially
that tank steamer will be IN operation
| between RedondO Beach and San Fran
| cisco within twenty-five days. Further
| more this steamer will run and bt
operated by the oil exchange.
! NOTES AMONG THE PRODUCERS.
| The tax of IS per quarter placed on OF
we'll owners still sticks in the craw of the
! producers They do not like it Is little
| bit, and most of them denouncesit as
| dog -in-the- manager policy for the council
| to adopt.
The Summerand oil district is now
| producing 40 barrels of oil per day from
| thirty-seven wells. There are twenty six
| additional wells contracted tor. 1t is
| proposed to put the product of this Santa
Barbara county district into San Fran
| cisco. 1t will have the advantage over
| Los Angeles of about 10 cents a barrel in
| price. for that is what it costs to get Los
| Angeles oil to sea, and the Sum m erland
| product is already there.
The Mesnager well. south OF Douglas
| streat, is down 1900 feet.
| The Southern California Oil company s
| WE'LL on Omaha street, has good flow
| at $40 feet. 1t is now forty feet in blue
| clay.
The district bounded by Figueroa, Met
| calf and Victor streets, presents busy
| scene. Operations are in progress fro m
"a thousand derricks,' more or less.
The OIL exchange has man in San
| Francisco making tests with oil bur ming,
| having in view the enlargement of the
| field of consumption for the product. He
| reports satisfactory progress and Will
soon sena id some details IN definite
| form to what he has accomplished.
The DRYDEN we'll at Court and Patton
! streats is down 1000 feet and drilling has
| ceased.
The Gibbs we'll at Belmont avenue and
! Council street is cased 750 feet IS down
| 500 feet and will be sunk 1000 feet. 1t is
| expected that second sand oil will be
| reachpd al Mt a deptb of $50 feet.
If the flow of oil can be stopped the
| Wing we'll at Welcome and State streets
| will be sunk to second sand, it now being
| down 80 feet.
| The Whitney and Ferguson we'll Is
| nanning out nicely The weather cups
| have. been changed for steel plungers.
| A good b .dy of oil has been reached in
| the Martin we'll at Lakeshore avenue and
! Patton st-eet at $50 feet.
| The Far West Oil company's we'll at
| First and Lakeshore avenue has peen put
| down TO 1850 feet and fair flow rsach ed.
| The manager has determined to 60 200
| feet, if it is necessary, to get a satisfac-
| tory fiow
| A well in the Belmont Hall district
| was nut down 1909 feet but no oil showed
| up.
Nelson Well No. ., at Belmont and
| Rockwell avenues, is down $50 feet and
| the casing is being put IN. Inc heavy
! flow of oil makes the work slow.
Several new wells are being drilled in
| the vicinity of Belmont and Rockwell
| avenues.
Rex Oi. mpany's No. we'll at Bel
mont avenue and First street, is down 600
| feet Work an No. 2 we'll has sto ppeu for