The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-12
EFFECTS OF THE OIL FIND
Has Created a Great Demand for Land
and Shot Prices Upward.
SOUTHEAST TEXAS IS REAPING PROFIT
Some Persons Contend that Increased
Prices viii Deter Prospective settlers
and Thus lnjure This Section

There is one thing that the oil discov-
cries and the prospective enlargement OF
the field have accomplished for southeast
Texas. and that is the eifectua Increase
of land values A serious question II IN
VOWED in the new situation, too. Many
neople entertain the apparently Logical ne
lief that the Increase In land values VIII
have tendency to deter prospective ST
tiers. which. of course, win prove detri-
mental to the rapid development of the
sections agricultural resources. For these
reasons some persons, who profess TO nave
the interests Of the whole section at heart,
are deplorlng the consequences OF the oil
discoveries.
1t is held that the discovery of oil at
given point does not indicate that the pro-
duct viii be found on every acre of ground
within radius Of 200 miles, and looking
NJ the situation rs IT exists at present 1t
is argued one can not fail to see that the
present prices of land, speaking generally,
are not justified by the conditions. IL Is
natural that prices should take shout
upward. where the indications OF oil or
other mineral products are strong enough
to warrant it, but these peSslmistlc people
insist that many acres of ground, upon
which the production of oil in paying guam
titles is most Improbable, but when W"u'd
make excellent farms, either for rice cu!-
ture or other branches of agriculture are
being withheld fom cultivation on ac-
count of what they claim To be almost
prohibltiyc prices. for these purposes, tuat
have resulted from the oil excitement.
On the other hand, a great many people
contend that the stimulus winch land
values has received in consequence of the
OH uiSeoNei'eS was N'0','
needed 10 insure n more suhstaulIdl P.os
pcIlty Tor the section. Inns tl"ss Vihih
maj lne great ueiia a, ior 'n n '% NM *
/ rants the increase OF price ana ''ui tut
demand mas enabled clilhchN o. Inc S'ctluh
VINO nave large lHnd h"IuihEs Whlch nv
nave carried tnrouSh llul'S OF university al
a nnancnl loss, 10 dispose oi tuem IN par,
al hgures thai allowed pi"ht over an
losses. The more "ptmlSuc ones nave
their doubts about the truth OF the ass !
ton tnat every acre of Texas lund witnin
radius OF 100 miles OF he beaumont ne Il
viii not produce oil In paying luahtl,l's,
and their sdngunity is apparently shared
at least supported by the demand OF "u
/ operators i"t tue lhhu'
a representative oil Ihe Post yesterday
undertouk to obtain reasonable aecd."''
/ idea OF the extent to winch land vdlu $
nave been affected throughout southeast
Texts by the oil discovcrits he, yl>itel
some ca the leading rcnl estate firms IN
the city, who also Keep well posted on the
: conditions regarding acreage property It
was learned that the propolt,onatc in
crease in acrcnse values In Sou,n Texas,
east OF the Colorad" river ana outside of
the counties adjoining jefferson. has be II
/ about ~ per cent, The Increase IN tEe
counties immediately surrounding JeNer
son mas been upward of 100 per cent sine.
Major Lucas found the. great sush of nel
on near beauhioht on January ~
The increase in the value Of city property
IN Houston mas not been as great as mat
IN country property, but has ucen sutn.
Gent TO exceed any substantial increase
tiens. II is comparatively estimated thnt
me increase IN the value OF city property
mas reached 10 per cent within the period
u,urlns when country properly mas eNpe-