The herald., 1897-02-15
THE OIL SITUATION
What . Leading Financial Journal Thlnks
About It

ABOUT u
The situation in the local oil field is
becoming interesting. not only to oil
borers, but also to property owners and
residents in the neighborhood of the oil
district, and, in fact, to all who are in
terested in the growth and progress Of
Los Angeles. The march Of the oil der
ricks toward Westlake park still con-
tlnues, and scarcely day passes with
out seeing the starting of new well.
The Rubicon of Bonnie Brae street has
been passed by several Of the oil men,
VINO are encouraged by the fact that oil
mas at length been reached. at depth
OF over 100 feet, in the well at the cor
ner OF Bonnie Brae street and Ocean
View avenue. Preparations are being
made for the drilling of several wells
within the 1600-foot limit west of Bonnie
Brae street, in the neighborhood CT
some of the finest residences in that Sec
ton.
The condition Of the streets leading to
Westlake park, after the late rainstorm,
furnished sufficient evidence of the ne
cessity of providing some restriction on
the porlng OF wells. On Seventh street,
Westlake avenue, Alvarado street and
the other streets leading from the hills
to the park. the cutters were covered
with Oil, which had been washed down
from the corner of First street and
Union avenue, half a mile away. The
park lies in depression, SO that in case
wells We're bored all around, the lake
would soon become q pool of oil like the
OLD lake at Second-street park The new
ordinance will not prevent the boring of
wells around First street and Union
avenue, but some attempt should be
made to keep Oil from running down TO
the section surrounding the park, where
1t is not wanted
Some oil men claim that the ordinance
adopted by the city council is not consti-
tutional. 1t certainly appears somewhat
doubtful whether the council has the
power to discriminate in this manner
In favor of one particular park. although
1t is true that the circumstances in con-
nection with that park are different
from those which prevail around the
other parks. In the first place, the i'm
provements are of far greater value.
ana then, again, as above shown, the
park lies In depression, so that should
boring be permitted on the adjacent
hills, it would inevitably be ruined for
park purposes. AS we have said the
question Is most important one and
should be settled without delay one way
or the other. Residents in the threat
ened district should lose no time in
bringing test case.
The Investoy cannot be charged with
unfriendlness to the local oil industry,
having from the commencement recog-
every week to a report of the latest de-
velopment. 1t is, however. as we have
previously shown, absolutely necessary
mat some reasonable restrictions should
be placed upon the boring of wells with
in the city limits, unless we are prepared
to give up the city entirely as location
for fine residences; for, as the Investor
has shown, even in sections where there
is little probability of finding OIL such,
for instances, as Figueroa and Adams
streets, man might erect a derrick
next to fine Aesidence and demand
money from the owner of the adjoining
property to move it away 1t is not
claimed that any of the legitimate oil
men would do such thing, but owners
of fine residences, or those who are
thinking of erecting fine residences,
should not be subjected to any such risk.
1t is time that the whole question of oil
boring within the city limits. in all its
phases, should be investigated by the
council, and the rights of the city to re-
strict boring operations, if it has such
rights, should be strictly defined.
1t would be bad enough to spoil the
beautiful residence section around West
lake park even if there was prospect
that the oil men would make large
amounts of money from their opera
tions, but this is doubtful, under the
conditions which prevail. In the first
place. there is considerable DOUBT as TO
whether drilling operations will prove
practicable in that section, there hav-
ing been no encouragement In this line
from the several wells that have hith-
erto been drilled in the neighhorhood
of the park. In the second place, 1t Is
a fact that comparatively few of the
individuals who have drilled for oil
have made much money owing to the
fact that the wells have been sunk SO
absurdly close together. 1t is safe to
say that ten wells have been sunk
where one would have sufficed. This
means that something like million dol
lars has been thrown away in boring op-
erations within the city limits, which
might have been saved, had a reasona-
BILE system prevailed. It Is true that the
property within the oil belt, being cut
up into lots, and in the hands of so
many different owners, makes 1t more
difficult to avoid this multiplication of
wells, but it might nave been avoided,
in many cases, by cooperation among
the owners of adjoining lots. In this
manner the owners of half a dozen ad-
joining lots might have combined to
sink we'll in the ceter of the property,
sharing the expense and profits Then,
instead of a dozen wells on six lots,
costing perhaps $4,000, there would
have been only one well, costing one
twelfth of that sum, and a steady pro-
Duct of oil for much longer period.-