The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-04-24
fothing to Indicate that the Excitement Is
Abating in the Least.
|ropLE ARE STILL BLOCKING TO BEAUMONT.
transactions Yesterday Involving Many Thousands
Of DolIars-Land Is Daily Increasing in Value
What the Oil Companies Are Doing.

,..nuont Texas, April ~ -Todny he's
decidedly interesting one in and
"a Tho Beaumont oil fields, and there
hosn n signal activity here from early
II is the first wide open day fol
rnc sunday and the holiday yesterday,
.,nemorative of the battle of San ia
y. and ii is needless to say that there
scramble. a wild. desperate scramble
no many good things" in sight. rho
,,mhle was participated in by the fakir
q tho .wildcat schemer." as well as by
r.s,ors-thc former with the view OF
soshng the good thing along and the
ssr for the purpose Of pulling it in"
~ were after good things" but the
1rase has two distinct applications.
are capital was represented here this
nsrpoon than has ever been the cas-, be-
j.. though, to be sure, 1t was not all
Ealing for investment in oil lands or
-ocss The greatly increased representa-.
lon Of capital was due to the arrival and
resence of the delegations from the New
ak chamber of commerce and the Mer-
Aants' association. VINO arrived shortly
sfore noon. However, outside of these
isitors. there was as much capital repre-
pated as there has ever been. The crowd
\, SPECTATORS was larger and this ac-
,unts for the increase of activity aud
reculatlye excitement today.
Each day one feels that the interest now
,sptered at Beaumont must reach its ell
nsx soon-yet, it does not. 1t is II re-
eulIar stuation-cvcn n wonderful situa-
Illon-the like of which has never been ex-
rerienced before.
After the first or purely distracted cx-
{ctfment caused by Major Lucas great OIL
strike on Spindle Top Heights. had settl'd
Gown to what may perhaps be better 10
srbed by calling it intense business in.
terest. rather than excitement, 1t has been
steadily growing both in volume and in
Itensity until now it would appear nee s.
Arly near the climax Of intensity.
| On the other hand, all admit that the
situation is one that has not hereto re
| hen met with, and for that very reason
/ The consensus of authoritative opinion s
/ tlat the interest and activity will con
inue to Increase indefinitely. 1t Is argued
Aat the oil industry will continue TO de-
velop, widening in the process. ana Of
course there will be an interest common
surate with the development.
Pryen oil land Kow sells as readily for
fsa0oO per acre as did prospective te ri
py sell for $1,000 per acre a week aftet
the Lucas geyser made the initial "gush"
IN the Southeast Texas field The prove
territory Is as yet limited and the ques-
don is, will. the $4,000 per acre price
prevail In an expanded territory?
No dry well has yet resulted from the
operations in the field. and even the most
experienced of the experts have nothing
tangible upon which to base an opinion as
70 The extent of the field. When the field
snall have been clearly defined, the interest
viii snbside somewhat and the stock of
nose companies with holdings in the
Proven district It Is believed will 20 sky
s Natd with great rapidity and those less
llJoIsSa1nateiy situated. with reference to
lOlalngs' will take the opposite direction
'1 ~ proceed with even grenter rapility.
ohtii the field is defined, It l. declared,
s ssre VIII be. no material change in the
present situation.
An agent of the revenue department of
'ae government, Mr.. II. White, arrived in
'ae city this morning and has spent the day
VISITING the offices of the oil companies
wy 'ney are so numerous that he did not
se9 around to all Of them. The object Of
Us visit here is to instruct the officers of
'ae various companies on the revenue tax
S''VsSafy In the transaction of the stock
,usihess. Some companies have been fol
ih sS one plan and some another. The
sta.l ptnVides that the original issue OF
Xxx, ,as snail have a war tax of cents for
isSSea slOO or fractional part thereof. and
~ o. cents shall be affixed on every trans
,sra rue lncorporators of some companies
,stss nUl issued to themselves stock Sertih-
80 put nave simply had the stock credit
~ 70 them on the books, which Is usual in
IA sssn matters. and it has been the idea of
az Vrusers OF the corporation thnt no war
Witt was necessary. In such cases. Mr..
"ni.e, however holds that the STAMP tax
s ~se pe paid and that In case of no certii-
Az pelng Issued the stamps shall he at
sfnoa 70 me stock book entry. Ii Is under
nr sts snst some shares have had the word
~ stamped thereon, Revenue tax to the
ofsca OF 8 affixed to the stub in the
hnee Of the secretary" Mr.. White holds
'sS s mis- can not he done: that the stamp
NJ W Wst be put on the stock certificate.
Snd ute Is visiting in turn each office
1 5osa y insuucting the officers of each cor
n thiVh IN the departmental construction
ID ~ revenue law. He states that while
IByhI- tuullt SeVefai VIOLATIONS, ne is lhpI-
,ra X convinced that no one Intends IL
M tnat everything can he corrected. lie
~ round the officers anxious to ascertain
~, proper proceeding in the matter. As
rns II was learned he was in the city
\ a uper Of the largest concerns sent for
M oAe difficulty here IL the inability Of
.ls,ni hpanies 10 procure sufficient revenue
XII ApS. The supply is exhausted daily and
M issuance OF stock In a number OF eases
,ee, pecn delayed on this account. 1t has
4 " suggested that a petition be forward
Il" collector Webster Flanagan asking
4 AZ deputy be stationed here 70 attend
y ne revenue business. Mr. White VIII
Z mere for some time.
efnossl pent Monday in Houston, visiting the
'F0fatlons there.
~
~ activity In the operations that has