The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-11-07
ABOUT THE OIL INDUSTRY
Development of the Field Continues Des.
pite Numerous Obstacles
The Exchange Doing a Good Business-Direc-
tion OF the Oil Vein Observation-Disclosures
From Among the Derricks

The oil industry goes ahead despite the
obstacles that aiise to check its progress.
It lie surprising to note the activity of
the field at tiraes when the market is un-
settled and conflicting interests are at
work within the boundaries OF the terri
tory. They are a sturdy lot. the real
producers, and they are i'm pre- ssed with
the genuneness of the industry they are
trying to develop, and relying on that
they keep on drilling wells while those
who figure in the transporting and mar
keting of the oil are lighting it out ong
them selves.
There can be no doubt but the uncer.
tainty OF prices and transportation,
which has resulted from the breaking up
OF the industry into factions which COM
pee with each other, has been draw.
bach in the way OF the best development
OF the oil region. Nevertheless 1t has not
been felt to the extent that might have
been expected AS matter OF fact the
field has been widening steadily and new
wells we're drilled continually. even at
the time when the product brought as
low price as 35 and 40 cents.
For some time past prices have heen
advancing. Oil is now quoted vt So cents
for direct sale. no time contracts how
ever, being made at that figure. The ex
change is making a great many snip
menis, and their business is increasi ng
daily. Tanks that have been overbur-
dened have been emptie and wells once
idle have again been set to producing.
Oil men seem to anticipate steady i'm
provement and aye making ready to take
advantage If it by EXHIBITING new corners
OF the field and putting down new W lis
everywhere. The western end o the field
is especially active. New contracts have
been let for halt a dozen wells, which
will be put down as rapidly as poss ule.
1t was necessary to prospect a Bit in
order to learn the exact location Of the
oil belt, and several holes were drilled
and abandoned on the west side of Bal
mont street before the exact direction of
the vein was determined. 1t was found
to change its course and instead OF con-
tinuing directly westward, to swerve
slightly to the south beyond Belm ont
avenue. Doheney and Cannon were the
first to get good flow of oil IN this sec
ton, and since theu NUM- Der Of rigs
have been operating in that neig Dor
hood. The Rex Oil company put in two
derricKs. little to the south ana west
of Doneney and Cannons, both of which
nave found an abundance of petroleum.
The Far West Oil company having
failed in its test well, on the Belmont
grounds, south Of the avenue, has moved
its rig westward, and has met with en-
couraging success st the corner OF Bel
mont avenue and First street.
The new Nelson we'll is going to be a
hummer but will probably never equal
Nelson No. /, which did such vigorous
and continuous spouting.
Everything is now in readiness to be-
gin drilling IN the new DAWSON well on
HOBART street and West State street.
Tubing has been put down in the Dry
den we'll and pumping will begin within
day or two.
The Southern California OIL copmany's
we'll on Omaha street mas been com pleted
to depth OF $50 feet, and the pump is
now being put in place.
Daggett and Fletcher are at work on
their new we'll on Edgeware road.
Pumping was begun yesterday in Do
henev and Cannon's WILL on Park Place
which has Just bee n redrilled to a depth
of $40 feet.
The Iona Oil company will soon be
operating with two drilling Iigs on Fig
ueroa street south of Temple.
The new derrick has Just been COM
pleted at the North property on the cor
ner of Temple and Victor streets.