The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-29
OIL FIELD DEVELOPMENT.
Business Fervor Has Succeeded the
Excitement.
i IS AN IMMENSE INDUSTRY.
pecent Deals in OIL show TO what
an Extent 1t Has Grown-Eight
Hundred Barrels Daily.

Corsicana, Texas. September 27.--The oil
fever which STARTED IN Corsicana two years
ago. is no longer fever Of excitement and
curiosity. 1t has developed into sensible
business fervor. There is no fever about
It. There is no doubt of the rich oil de-
posts that underlie one OF the best bust
ness points in Central Texas. Oil is be-
lNeved to abound under the very founda-
ton for the business houses Of wholesale
and retail concerns that are the supply de-
pots for thousands upon thousands of hu-
man beings for miles around, and this be-
lief has been developed into truth by
the actual existence of twenty two gush-
ing oil wells within half mile OF the
principal business street of Corscana-
Oil was first struck while the Corscana
Water Development company vere sinking
a shaft fer artesian water, one block and
. half from the Union depot, and with 1t
q large amount Of natural gas. Here is
where the oil fever was started and from
that time on It has developed into a great
and sensible business project.
The oil is the equal OF that found in
Pennsylvania and finds ready and
steady sale, as is shown by more than 500
barrels being shipped to foreign points
daily, and the use Of it by every large
and small manufacturing enterprise in
the city.
Since the discovery OF oil thousands
upon thousands Of acres OF land have been
leased for oil development and a great
number of acres have actually been sold
at the rich price OF $50 and $3.50 per acre.
One company has under lease $4,000 acres
of land, which is now estimated to be not
more than half of the total amount under
lease, for there are several other COM
panies that have from 10000 to 1000 I'M
der lease and ready for development as
soon as drilling apparatus can be placed
on the ground, and still there are quite
a number of private individuals developing
their own landed interests.
Something like 100 men are now actually
engaged In the oil district sinking shafts
for the precious liquids of the earth. that
promises fabulous fortunes for those en-
gagged In the oil development and for those
who are likely to follow in their foot
steps.
The big oil deal here only last week was
a great stimulous for oil business, and the
actual charge of a quarter OF hundred
Thousand dollars for only one-half interest
in the stock OF the Corsicana OIL Develop
ment company shows strongly the vast de-
velopment of the oil fields here. 1t shows,
too, that 1t is no longer chance invest
ment but a practical business transaction.
Operations in the oil fields this week
are the liveliest that have yet been wit
messed, and the contractors are meeting
with very little trouble. AS consequence
several wells will be sunk to the oil strata
before the week closes.
The people here are very much interested
In tn OIL development, and the further de-
velopment proceeds the greater becomes
interest.
Senator O. B. Colqudtt OF Terrell was
here yesterday and went over the oil
fields with a view to making some invest
ulents. Like all who come here lie was
surprised at the Roadway the DEVELOPMENT
of the oil fields had made within the last
few months. He will be here again the
last Of this week, ard make final arrange
ments in the Oil business
When approached by The Post corre-
spondent on the subject Of politics senator
Colquitt refused to discuss the SUBJECT LOT
publication at this time.
Mr.. l.. C. Garrett OF St. ouis has peeh
IN this city for number of days, looking
over the oil fields and Navarro county
farm lands with veg to investing. He
expects to get leases OF some valuahic OH
lands and sink several wells as soon as
II fs possible. He Is very much pleased
with what he has seen o. the oil oeVeiop-
ment here, and thinks that there is u
great future before this city