Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1901-06-25
is Discoverer at First Regarded as
a Lunatic.
Provides New Situation Which May Revou-
tionize the Oil Business
ny JUDGE O-As. "a. GRANT

OtDer instance In Wnlcn ngureS are SD
immense as to bewilder the ordinavy
mind.
In regard to the probable extent of
the oil-yielding around Beaumont, peo
pie here on the ground differ in opin-
ion very much. In my judgment it
does not make much difference, praC-
tically, whether the field is wide or
narrow, it is certain that right here
the prospective output is sufficient. |
without more, to out run all probable
calculations for the near future. The
finds already made have, in any event,
assured the future of Texas, and have
given to her that primacy among the
states to which, territorially and in
the magnitude of all her other re-
sources, she was already entitled.
But l see no reason to believe that
the oil-bearing area in this vicinity is
restricted to any very narrow boundar
les. There is no ground apparent, geo.
logically or otherwise, for SO conclud
ing. The situation seems to me pre-
cisely like that of the great oil-pro
ducing provinces of Russia-the latter
occupying the same position relatively
to the Caspian Sea that the Beau
mont field sustains to the Gulf of
Mexico, each being the littoral of its
corresponding body of water. 1t is
hard to see why oil should not be found
all through this great coast plain, at
least from the Louisiana border to
the Brazos river and beyond. If it
does, the supply will easily outstrip
calculation. and greatly widened
market will be sought, and undoubted-
product. Another mark of identity be-
tween the local situation and that of
the Russian field is found In the COM
paratively shallow depths at which
the oil-bearing strata are struck,--it be-
ing, in either case, only from 900 to
1,200 feet,-a fact greatly favorable
to economy and speed In reaching
tangible results of investments.
But the amount of the output, and
the probable magnitude of the Beau
mont territory, are far less significant
from an ultimate point of view than
the proximity of tide-water. 1t is less
than 20 miles-just 16, believe, to
Port Arthur, a fairly good harbor in
side of Sabine Pass and pipe line
thither Is already completed and in
operation, with only one, or at most,
two, pumping stations on the route.
This nearness to port has a tremen-
dous meaning, relative to the situation
here. When one considers the dis
tance oil has to be transported by pipe
line from the Ohio and Pennsylvania
hViu W tht ONSl iOlty luuEtS
of mountains and great natural OBJ.
stacles, with the frequent pumping
stations intervening and the expense
attending all this, he can begin to
measure the disadvantage under which
the Standard Oil Company must here
after labor in competing for the foreign
market, or even for the domestic sup
ply in all places near which cheap and
ready water transportation can reach
Very few of our people, l think, are
prepared to grasp the full import oi
this phase of the situation. 1t is ar
accepted maxim among economists
that your monopolist cares not VIII,
| owns natures products, provided h'
/ controls the terminals by means o.
which alone they can reach the con
sumer; that he is indifferent as t,
= who brings the resources of the eartl
] to the surface, so long as he keep
3 the gateway through which they mus
, pass to a market. This is the rea
danger which turks in the situation a
, between the Standard people and tn
| consuming public. They dominate tn
) Atlantic terminals for the oil expor
trade, and controlling these, they con
l troll all. And If possible competitor
e Were on anything like an equal foot
;. ing with them in other respects, tn
e dearness of access to the eastern It'd
{ water would of itself prevent then
y from gaining foothold there.
t But as regards the Beaumont fiel
8 the case is wholly different. It's neaI
y ness to deep-water transportation !
n of itself the largest factor in the as
!. sured success of the enterprises whic
Q are to find their source and center here