New-York tribune., 1901-12-18
PETROLEUN As FUEL.
SUPPLYING THE EUROPEAN MARKETS
FROM TEXAS.
New-Ynrk Decem hel

New-York. December Is. 1901.
a conference Of perhaps international importance
took place in this city few days ago between Mr-
William Johnston. head OF the irm of William
Johnston & Company. famous Liverpool steamship
men, and Dr.. Chauncey r. Forward. President,
and Mr Walter S Logan, General Counsel of the
Forward Reduction Company. OF this city and
Beaumont, Texas.
Mr. Iohnstons firm have for many years been
the largest arrers by water Of oil from the Rus
sia, oil fields. and Dr.. Forwards company is fast
coming the front producers and shippers of
oil in the Texas and Louisiana oil fields
The conference commenced at Mr.. Logan's Office
in Lords Court Building. q William Street. and
was continued uptown at the Arts Club 34th
Street Of which club DR.. Forward ard Mr.. Logan
are both members.
The question of shipping the crude oil 70 Europe
for fuel in quantities. well disposng of the
products Of the comrany's refinery. was discussed
at great length. and arrangements were initiated
TO make the shipments large scale.
Mr. Johnston sailed for Liverpool the next morn
ing and Or. Forward followed later steamer.
The movement initiated here is likely be con-
Dr.. Forward also has letters to General Horace
Porter. United States Ambassador to France. AID
to Hon. Frank II. Mason. United States Consul
France and, Germany are quite as much inter
The fact is that the fuel supply of Europe is be-
coming fast exhausted and European statesmen
and economists are coming to see nat sonnet ming
must be done in the way OF providing cheaper
In emergency, Europe in modern times. turns
There are numerous difficulties in the way of
Transporting coal in large quantities from this
country to European ports which have vet
been satisfactorily solved, but oil can be trans
ported half the freight rates of coal and it has
The opening up Of the, Western prairiss half
hundreG [edIS, aep ,, u 10 Lesd E;raops T
and Louisiana likely 10 make it possible for
TO furnish her with heat now that she is so near
This@the first wear of the new century-is the
year which the inexhaustible Gil deposits OF the
great South were discovered II may come 70
be known III history as a year when the centre
of the worlds production moved from Europe 10
America.
Beaumont seems to be important
The Forward Reduction Company is essentially
a refining proposition and long antedates the gush-
age and sagacity. and has in DR.. Forward able
and ma sterly leader Beside5 its refining processes
Southern ard Western oils be reduced and
divided into their valuable component parts and
as to which II has the field all to itself. it has
holdings within the proved district on Sptndletop
Hill which insure il all the oil il in its
refinery or sell for fuel long Spindletop lasts
and il has larger and better areas of selected oil
lands outside of Spindletop than any other COM
pany in the field that 1t is assured of all the oil
it ons as any is left on either side of the
Sa bine in Louisiana and Texas
BESIDES its monster re1nery-the largest in the
world-it is building the largest and finest pump
States, and its eight miles OF recently acquired
waterfront on Sabine Lake and Sabine Pass insure
1t unrivalled shipping facilities
II is already well and favorably known
botb sides of the that when Mr.. William
johnstony firm were looking for permanent sup
Div of oiI| for European markets TO be delivered
fiiewater on the Gulf coasts they came directly
10 the Forward Company and looked no further
It is estimated that a heet OF at least I'VE hun
TI1eI markets of Europe alone. and they will take
every barrel of oil that every gusher can produce