The herald., 1895-08-03
LOCAL FIELD OF COMMERCE
Growth of the Local Output of
. Petroleum
AN IMPORTANT INDUSTRY
Movement to Extend the Market to
Coast Points
Some Industrie, Which nay Be Profitable
Ones, Now That Supply Of Cheap
Fuel Is Assured

Tho growth of the crude petroleum in
dustry OF Los Angeles is one of the most
remarkable features in its history. The
California Producer has been digging up
some statistics and calls attention to the
fact that the industry has. within two
years, grown from nothing to daily out
put of at least 1000 barrels OF oil. the pro-
duct of about 400 wells in one section of
the city. and those who have given the
matter close attention from mineral
and geological standpoint assert that the
development is only in its infancy. Two
thousand men are now constantly en-
ployed directly and indirectly in the oil
region. Between S450.o00 and $500, 900
has already been invested in wells. Stor-
age tanks costing $4,000, also two pine
lines already laid and third now being
planned for will bring the total amount
invested up to $700.U00. The Santa Fe
Railroad company is equipping its loco
motives with oil burners. which will
bring into circulation. in Los Angeles,
over 100000 annually that has heretofore
been sent elsewhere for coal The move
ment to pipe the oil to the ocean into
iron tanks on barges and ship it to all
poi uts ON the coas: is an oppo-tune one,
as it will solve the question Of proiita-
BILE market for the oil. At the present
minimum pxice. so cents per barrel, adj
ding 80 cents per barrel for transporta-
tion, the crude petroleum can be laid
down in San Franciso or Stockton at a
cost equivalent to $2.40 per ton for coal
(nllowing for the saving effected in many
ways by using oil instead OF coaD. AS
suming that the price advances TO IS
cents per barrel, il will not exceed a cost
equivalent to $3.l5 per ton for coal.
This will save the manufacturers of San
Francisco and Stockton an amount equal
to $3.50 pei ton for coal. They are watch
ing this industry with great interest and
hope for great results therefrom.
Heretofore the most serious objection
to the establishment of manufacturing
plants in Southern California has been
ing removed by the discovery OF retro-
leum in large quantities. the Manufac-
turer gives a list of manufactures which
now, beyond question, may be profitably
operated in this section.
Southern California needs staIcn fac
tory to utilize the surplus potatoes which
60 to waste each year.
animals now unused into valuable arti-
ces of commerce.
A canaigre extract factory to work up
tons of wild and cultivated root into Ian
mic acid.
A mill for the manufacture OF the Or
ange into beverages and marmalades,
which are always in demand.
A smslter for the reduction OF ores
which now find their way from Mexico
and Arizona to che eastern market.
Oil mills to utilize the abundance Of
raw products from which the castor, lin
seed and essential oils are taken.
A glass factory to supply the immense
demand for fruit and preserve jars which
are now shipped from the east.
A paper mill to make manila and tissue
papers from flax and hemp which grow
most favorauly here.
A cordage or rope walk to supply the
great and growing demand for this nec-
essity.
Bradstreet's says: The week presents a
larger volume of trade in many lines
and at many points than in previous
weeks and year ago. The orders for steel
and iron lead in interest, displaying re-
markable strength. Western manufactur-
ers have been obliged to purchase eastern
billets to meet their orders. Another
conspicuous feature Of the week is the
evidence of reviving confidence on the
part OF the western and northwestern in
terror merchants now that the corn and
spring wheat crops promise well. This
is shown. plainest aG Chicago. st. Louis.
milwaukee, auu St. raul, WHeTe Oruer,
demand and sales to buyers in person
have increased to striking extent. At
the south general trade remains of mod
crate volume as previously noted. Nash
vile and Lewiston alone report material
gain. There is u better outlook and feel
ing at Charleston, but elsewhere mid
summer quiet rules. Delay in paying the
sugar bounty affects trade very llnfayor-
ably in Louisiana.
Trade on the Pacific coast is of moder-
ate vol1me. tair for the season, Tacoma
and Seattle reporting an extension Of
demand and Portland and San Francisco
no material change. Exports of wheat
(flour included as wheat) from both
coasts of the United States and Montreal
show a moderate increase over a week
ago. the total being 1,460.000 bushels. a
gain of about 200, 900 bushels. This is due
to increased exports of flour, principally
from New York. Baltimore and Newport
News. This weeks total of wheat and
flour exports of l. AGO. 900 bushels is con-
arasted with 1917. 900 bushels year ago !;
5.672, 600 bushels two years ago; 1878, 900
bushels in the corresponding week of 1892
and 4,037, 900 bushels in like week of
1891.