The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-12
HOUSTON OIL EXCHANGE.
Expert Wasson Is Here TO Assist in
Getting II Started.
WILL BE OF GREAT IMPORTANCE TO CITY
Upon Citizens at Large-What
the Plans Are.

Mr.. George +. WATSON OF Colorado
Springs. Colo, Is in the city. guest at
the Hutchins house $4r. WATSON has had |
a large and varied experience In the hand
ling of stocks of various kinds and the |
purpose of his visit to Houston Is to as
sist In getting the Houston oil exchange
in operation He passed through the city
about three weeks ago, ut which time ne
matter was first placed before him. After
visiting Beaumont and looking closely into
conditions there he decided to accept the
proposition made him by the promoters of
the exchange and his presence In the city
now is the result.
"I see no reason why Houston "ho, "a not
become very important OF, stocb mtIfet,
said Mir. Wasson to representative of
The Post yesterday morning. 81 have he
come convinced, after visit to Beaumont,
that the excitement which has been so
rampant there will eventually resolve itself
Into steady conservative run OF stock
| speculation ana believe, further, that
| Houston Is the point at which most of this
| trading VIII be done 1t is true that TINS
| city Is nearly 100 miles from the y 'tsent
| oil fields. but that signifies little. Inc
| great mines of Colorado are at Or pple
! Creek and the great mart Tor the TRACE e
| what Colorado Springs ) to Cripple Ct.ck
| Houston will be to Beaumont. There are
"a
! nrrfer 10 transact ones business In iIuus-
| ION uar1lCuiarlv while Beaumont remains
| in its present conEcsted condition. OF
course ! do not want 10 he understood as
! wishing to dlspurHge Beaumont In any way.
| | nm simply trying to can attention to
some of Iouston's advantages. Neither of
tho two places have any reason to be Jcal.
GUS of the other. There Is certainly plenty
| of opportunities for both and both are GO
ing to continue to forge ahead at Il rate
that viii he nothing short of marvellous,
ITO return to the matter of trading in
oil stocks. Up to the present time the
only business that has been done has been
| In the shape of sales Of stock from tue
| vari pus companies TO their customers. III
other words, there has been no trading be-
| tween the customers themselves, lhe
prices which are quoted In the various
market sheets are those liked by the com
panies and II IS noticeable that qlu prices
are quoted only III the fnrest instances
1t eau readily he seen mat unuct tne cii,
cumstauces. price when ny no ueans
represents the real Nhiue OF lhe sluch uiuE
be quoted. Under tlt RrrahgtncuI Mi3Ca
VIII lac put IN force as soon AS l4e h3Wst3pii
oil eNcnahgr oeBmH opet"tloh II VII WI u w.
practically lmpossi9l9 Tor any Fs".nP,,hy +h 10
lnliate the price Of 1T stock, for, as ,tipn G
tracing pr2grSsSeS' ''giititihin,e my We thn
ne ueiorIniueu anu IL , Mit t' thn}, atnct
various uuiIahlc1i w 10y "a -
Ihis ! take ~ VIII prvNent ,, 5 ny and
,. , MnHe n safcg,ard For Mi lerllmate
, mtn ptUNo S"''S '''D ''' Il"
ih !.i,I,e on cvcb,nrc ran not he made n
az citis m,n'~ W Wonst"nH continued Mr.,
tne cl'z'ns "t il"usr"ni to I'M mat il.
th""r3uahIv nnIorsfood Mt The beginning OF
,nuren M mo, cVnect every one in the
U,i , ~ ,,i'tin,, IN, 'ou sturrs ns
r IVY W pEs'n p,,,, IL stntiish"d. What
Soon as NY - ,ors''',s VIC " ar,
n'rnu - I'M ,n| al p,us, s,,nnnrt III
nnw orgnni1ntion in snhstnntIal manner
) NV u, sn,ns,m,Ilw hn rood tbIng fo
L H. rs ~, 70 ,,l,u ha sn'ndrctiyc NJ
mG TNrornpin adver,isin ~ n"thing asn