El Paso daily herald. (El Paso, Tex.) 1881-1901, 1898-11-09
Industrial and
Commercial.
In the Oil Fields.

A Corsicana dispatch to the News
says: W. 81. Staley, the Pittsburg
(Pa.) oil man who have extensive oil
leases in this territory and for whom
Contractor FOrney brought in fine
flowing well in new territory and new
sand two miles south from the city, re-
turned from the Pennsylvania oil re-
gions this morning and his face is
wreathed in smiles because of his good
strike here. He says he will have an
other we'll started this evening just 600
feet south of the well in which his
good strike Was made, and that he will
continue to develop his territory here
as long as profitable strikes can be
made on it. Speaking of the oil bust
ness in the east, he said:
"Everything is rushing. Oil was up
to 81 % per barrel while L was there
higher than it has been for a long
time, and buyers were simply falling
over each other TO get it at that
price,"
"Will oil producers in this field ever
get above so cents per barrel for their
oil?" asked the correspondent.
At this question broad smile over
spread.Mr. Sealey's face and he said:
"Well. 1 can't say; it depends on how
they treat u.s."
Who he meant by "us" he did not
say, and before he could be asked who
"us' was he was called off by his we'll
driller to talk about where the next
we'll should be located.
Hardy & Sharp have located another
wild cat we'll southeast from the city,
quite away from the old field, and will
begin sending the drill down at once.
They will not be alone it wildcatting,
for the oil fever is not rising higher
and higher here and there is no telling
what the temperature will be in q few
weeks.
1t is the talk in oil circles here that
the building of the big refinery at this
point by Standard Oil company is being
done with reference to more Texas oil
fields than the one at this point. While
Corsicana has the largest oil deposit
that has yet been developed in Texas
there is an abiding faith among oil men
that there are still larger deposits yet to
De discovered, one of which will be close
to the developed field here 1t is known
here that the Standard company has
had men in this city ever since oil de-
velopment was first begun and from
here they would visit every section of
the state where oil signs had been dis
covered. keeping to themselves the re-
suit of their observation. and it is
claimed that the Standard company
know more about oil in Texas than any
one else. Their knowledge has in
duced the building of a plant here that
when all of it is completed will cost
but little short of $3.50, 600 and oil peo-
pie who,have been watching the drift of
oil matters give it as their opinion that
there will be other fields in the state
developed, and developed under the
direct or Indirect auspices of the Stand
ard Oil company.
1t is said that the purpose is to make
Corsicana Standard Oil Company head
quarters in this state, and that where
oil territory in other sections of the
state is developed the crude product
will be bought by the Standard people
and shipped to their refinery at this
point to be converted into a CONNER
cial Illuminating fluid, to be dis
tributed from Corsicsna to all parts
of this state, the Indian Territory,
Oklahoma. Arkansas, Louisiana, New
Mexico and the republic of Mexico.
It is undou btedly true that an inter
est with almost unlimited financial rea
sources at their command are attempt
ing to get control of all desirable oil
territory in this field and those in that
interest are new people in Corsicano
and in Texas. They are oil men wh-
have operated extensively and profita-
bly, in oil fields in the east.