The San Francisco call., 1896-03-30
COAST EXCHANGES.

No sooner had the petroleum wells of
Los A ng eles been developed than there
sprang up a heavy demand for this va lu-
able fuel. Contracts were quickly made
for large quantities of oil and steps were
taken in various places to change furnaces
from coal-burners to oil-burners. This
eager demand led to the formation of the
Los Angeles Oil Exchange, which began
systematically to adjust the supply to the
demand by making prices a factor. The
Los Angeles Journal thus tells the story:
when the present management of tha.
organization took hold of the oil export
business the market was thoroughly de-
moralized and sales in some instances
were being made at the ruinous price of
25 cents per barrel at the we'll tanks. In
one instance as large quantity as 10000
barrels was sold at % cents per barrel.
From this state of utter decentralization
the exchange gradually advanced prices
until now it is making sales at so cents per
barrel aboard cars. This price is little
better than 20 cents per barrel at the well
tanks
All this had an eff ect in stimulating re-
searches for oil. At the present time great
activity Is going forward in the extension
OF the output at Los Angeles, but the
work is by no means confined to that Sec
tion. The Pasadena Star gives the history
of the Central Oil Company, organized
with capital of $4,000 to bore for oil
near Whittier and San Gabriel. 1t is sink
ing its first well at Whittier. and although
it has struck oil it is going deeper for
larger flow, with every prospect of finding
it. Meanwhile, according to the Visalia
Delta, the work of boring for Oil on the
West Side, near Huron, is progressing en-
ergetically and oil is flowing in generous
quantities.
AS might have been expected, the oil in
dustry is giving rise to others. The Los
Angeles Herald tells about the Inventors
Manufacturing Company at North Pasa-
dena, organized to manufacture a new oil
bu rner for using petroleum. Says our ex-
change: 1.-THE patent oil burner is used in
the factory for all heating purposes. The
fuel TO run the four-horsepower engine
by this process only costs 20 cents day,
and temperature Of 900 degrees required
to melt the brass which is used in manu-
featuring the burner can easily be OBJ
tanned"
The San Bernardino Sun details an in
teresting discovery which indicates the
surprises that are constantly being en-
countered by those who seek to find the
treasures which California holds. Per-
sons drilling a seven-inch well on
the Balfour-Guthrie land met a
strong pressure of water at a depth
of 500 feet. Our contemporary says:
"The result is that perfect creek of al
most boiling water is forming channel
for itself across the lowland. The water
rises in a solid stream five inches in diam
eter to height of several inches above
the mouth of the pipe. 1t is so strongly
impregnated with sulphur and other chem
ical properties that the surrounding air is
filled with the unpleasant odor which is
usually attendant upon springs and wells
OF this character. The water retains an
average tenn perature of 10S degrees, which
is almost up to the limit of heat attained
by the Arrowhead Springs; it will readily
cook an egg, and its properties are sutfi.