The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-23
EXTENT OF THE OIL FIELD.
Nj. D. R. Beatty Gives His Opinion
Upon the Situation.
BELIEVES IT EXTENDS OVER LARGE AREA
periments Must Be Madc--Pa-
ticnce Needed.

hT- ~ II. ntHiAN w Pthun'hA WIS w ''V
city yesterday. Asked concerning the stu.
alton Mt the oil Held he said:
There is little Information can give
any person who has read The Post careful.
" from day to day for the columns of your
paper have reflected almost exactly condi-
lions from the beginning. and during the
last few days The Post has certainly kept
Its head.
al went 10 Beaumont on the hrst train
which left Galveston after the Lucas gusher
came In. and have been there ever since,
except when have been away occasionally
for a day or two at time.
The oil mon from the older producing
districts came to Beaumont carly by the
hundreds and almost every one of them
agreed that the Lucas well was freak or
crevasse WE'LL and that no other oil wells
would he discovered. This was the same
plan they followed at Lima, Ohio. aud
throughout Indiana In fact, every place
where oil has been discovered l Will not
try to dehnc the reason, hut 1t appears that
there has always been a tremendous effort
to bear every new oil district aud that 10
greater effort was ever ujade than has been
put forth at Beaumont ghut In spite VI all
that. every oil man will tell You that this
field has been developed more rapidly than
any other In this country, and this same de-
yelopment Is going OH now In many dis,
tricts outside of the proven field faster than
ever before In any other oil section OF the
United States
II hope and believe that the producing
section here will he q large one, covering
vast area In both Louisiana and Texas.
for feel assured that II we can convince
the great fuel consuming centers of the
world that they can depend upon practi.
caily unlimited supply of fuel OIL enough
great plants will adopt this oil to make
ready market AT fair price for every bar.
rel that can ne u. .l,rn Understand, now,
that | am not speaking for the next six or
twelve months. but OF period, say. five
| years hence.
Il am not a chemist. hut ! believe the
/ report published In The Post of yesterday
morning, which shows that large percent
agt of Illuminating oil II believe your state
mgnt was 30 per cent? can be secured
through proper refining process | nm
also convinced that we with Hnd much
lighter and better Illuminating oil before
the development extends much further aud
when this discovery is made we will wit
ness scramble for holdings which, to say
the least. viii be exciting
II nm possessed of no information which
| would not give to the public | do not
know whether this oil Is in pools or streams
hut ] believe that | know lust ms much
about 1; rs the so-callrl experts, ana think
that solomon was thinking of oil, an well
us god, when he said Gold Is where YOU
mud It,.
Just at present many of the Eastern pa
ners are making a desperate effort 20 he
little this discovery, but all Of their efforts
VII come to naught, for the field, when Dc
Ntloped. will tell Its own story, and tile
Eastern newspaper man, as well us the
driller aud oil operator and the land holder.
will be much wiser twelve months from to
day than they are at present.
We all know that The Beaumont dscov.
cry has added enormously to the worlds
wealth. II is natural that the great news,
Rns The ine East " err It a%w
tlons engaged in oil production and while
that may temporarily stop the sale Of Ger.
tain stocks; II will not add to or take away
from Texas and Louisiana soil.
The majority Of owners Of hundreds Of
great manufacturing institutions through.
out the North and East have already been
affected by the establishment Of hundreds
Of factories Of different kinds IN the south.
and they will watch with Jealous eve the
establishment of great manufacturing In.
dustrIes In this section of the coast coun
try Of Louisiana and Texas, which Is I"
: have the advantage ~ q cheaper fuel than
need not he surprised II this powerful infu
ence Is eXerted to stop developments
II nm glad To say through the columns OF
The Post that their influence In this dIrcc
tlon will not injurc us, for ut no time IN the
history of the. world was there go much
money rcndv for lnycstment-aud millions
upon millions arc awaiting the further OK
tension of this field to 60 into dozens of
different enterprises.
There has been no great discovery IN
the civilized world which has not resulted
in the organization Of many wildcat
schemes. Int ! really and iruthfully he
lieve that there has been less Of this ?
Beaumont than could have been expected
when one tnkos into consideration TINT
the entire reading world has become con.
WINGED that FAR this Is the greatest oil
field the world hns ever known, ! see TINT
some OF the papers have been most vcor.
ousy advising their READERS relative TO
the purchasing of oil stocks. Now would
like "a say III The Post VIII allow mel, 10
those who have alreHdy bought stock 10
be Just lltlc patient and investigate the
holdings Of the companies In which they
are Interested aud await developments
before disposlng OF their stock at sacri-
fice.
There arc several popular stocks on
the market which NAV deprcclate Ia value
or become quito valuable as the result OF
wells nov being bored, bni In the mean
rimc the owners Of these companies know
no more about what will be the result
than the smallest shareholder and the Off
GERS NJ thr companies ms wen ne tho own
rrs If the stocks can positively do nothing
which will In the least change this condi
'''Thc situation is an interesting one. Dur
ing the next few months the literary rnd
scientific world will give II much attention
AMI while the manufacturers and hnnnCicrs
will show as little apparent Interest MS IN
! skilled poker PLAYER. thcv WI know jus
rxnctN what everybody holds.
''rhc public has hpen worked ~ 10 .
high pitch, They needed rest. mud ] ~
one. am glad II has come, hut there Is one
great fact that you cnn not get sway
from and that Is. that the development
Of this field Is tnday tho most importnnt
item of interest the commercial. financial
manufacturing and TRANSFORMATION world
have had 10 deal with Tor years. The
scenes NJ great activity witnessed In ths
INST are Int an indication Of what VII
harmon for vears and years n come. foi
, We are convinced that this Nil win NAV ~
Important nart In the future development
, - 'ho l'nitch States.
H' have fcli from The beginning that
great many largo fortunes would come ~
natural result ~ the discovery Of % .pnf
the ontrrowth % such discovery. and
have not changed nv mind. These for
tunes will bc made during the next hvs
Years ANA believe that tho const counir,
90 western f.0rsan1 Hp1 South aud Ens
Texas affords the careful Investor mnr'
! cha tcns for large nrndts ihnn nre nresen "a