The herald., 1897-11-29
The East Fields Eastern
Limit Found
THE BIG TANK is HERE
SCOTT AND LOTUS WELL Is
DROWNED OUT
Market Inactive-Prices Variable
Cottage Home Tract Has No OIL.
Pumping Starts Today

Startling developments in oil during
the past week have been confined to the
field and of discouraging character as
to future supply. A consequent bull
effect on prices that should materially
follow seems lacking and the market,
while not dull has not been very active.
Consumers assert that since the Santa
Te purchase Of 10000 barrels at rs cents
there has been but little oil sold. and
that in small orders at all sorts of prices,
from 75 cents to 81 per barrel. but Sec
retary Strasburg of the producers trus-
tees insists that they have sold from
1000 to 1000 barrels per day. aggregating
fully 900 for the week, none of it as low
as rs cents and most of it at 81 per bar
rel
The drowning out of the Scott and
Lotus we'll and the failure to find Oil
on the Cottage Home tract. discovering
the east field limits in that direction,
WILL according to Secretary Strasburg,
tend to boost the price to 81 and fix 1t
there.
another argument to the effect that If
a rich flow were struck at the Scott and
LOTUS well, the eastern boundary of the
east field being still unknown, the great
er supply would increase the demand by
large consumers now looking elsewhere
and so stiffen the market. Taking the
reverse of this. local consumers may
decide to wait for large consumers to
abandon hope of this field as their source
Of supply in expectation of buying at
cheaper price.
The order for second storage tank,
however, will give the producers trus-
tees an advantage in holding up the
price without shut-downs.
No one cares to risk prophecy of the
combined effect upon the price Of Oil
which may result from the discovery
of the east fields eastern limitations.
here announced for the first time; the
drowning out of the Scott and LOTUS
well, conceded now; the arrival OF the
storage tank Saturday night, and the
starting up OF the pumps today.
DIsCOURAGING DEVELOPMENTS
1t now appears that deep'boring at the
second we'll of Scott and LOTUS. near the
county hospital, has developed no oil,
but plenty of water. The first we'll is of
light flow and very dark OIL 1t is about
GOO feet deep, still in the shale.
In a late issue. locating the under
ground source of the Scott and Lotus
well, Herald readers were told that in
the east field the oil strata led to the
west up the canyon and under the hills
beyond the first brick kilns and the
Jewish cemetery.
A dozen or more drillers on the Cot
tage Home tract, next to the Catholic
cemetery and east of the oil fields, diff
fered from this opinion. and one more
valiant than the rest even put up drill
east of Buena Vista street. Some Of
these wells are now for sale at the cost
of their castings.
Green & Whittier, drilling there, are
in water at 500 to 900 feet, and other
drillers are encountering water at vary
ing depths. Some Of them think this
is due to a gap" in the oil sand under
the Cottage Home tract, because the
oil reappears further on in line with
the Temple street developments"
The oil that appears further on"
however, is from another vein, and its
line does not run IN just lndt OlreCtlOn.
NOTES AND NEWS
The Capital Oil company Is finishing
up work on wells numbers nine, $40 feet
deep, and ten, 695 feet deep, on its Adobe
street property. These are the last
wells it will drill there.
The contract for another iron storage
tank, to cost $500 set in place, and to
have a capacity Of 36,700 barrels Of oil,
has been awarded to Lacy Bros. by the
Producers trustees.
Dr. P. w. Book having resigned from
the directory Of the Oil Producers trus-
tees because of pressure of his private