The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-11-04
AS TO OIL DEVEL OPMENT.
MUCH MONEYLOsT THROUGH LACK
OF EXPERIENCE.
How Local INVESTORS Are Frequently
Thrown OF the Scent--Inportance
of Scientific knowledge.


Houston, Texas. October 9S. shall no
enter into a scientific discussion Of the
oil industry, hut win give a few plain
facts with- The hope that they viii be
the means Of saving hundreds Of thous
ands Of dollars now being sluandercd in
the mad search for oil in the State OF
Texas.
1t is astonishing to uotc the thousands
Of Shrewd business men including bankers
lawyers, merchants aud business men iV
every business pursuit who have made
their money through careful conservative
business methods, rush into one Of the
most hazardous businesses IN existence
today without any experience or knowl-
edge OF the business, or without even se-
curing the services Of an old, experienced
man in the business TO manage II for
them. Would the merchant hire any but
the most experienced men to be found TO
manage each OF the different departments
of his business? the lawyer engag any hut
the best talent In his line to assist him In
| conducting an Important case; the banker
secure any but experienced men for imp 1rt-
ant positions in his line, and SO on In
every line OF business? Yet, these same
| Shrewd busieses men who amassed fortunes
0
ing experienced aud having experienced,
capable men TO assist them, throw ali dis
erection to one side aud plunge hcadlons
into the oil business, purely and simply
on a gambling basis; that Is. without any
! eXperieure whatever themselves. or With
| ont engaging practical, experienced OIL
4 man capable Of managing their oil hrsi-
ness and OF selecting locations for we u,
/ WherC the geological aud mneracg cal con
I ditions show convincing evidence Of oil.
! | am very sorry ia note the skeptSism
exhibited In this State towards the sci
! enee Of geology and mineroogy an as Ia
/ practical biologists and intercollegiate he
! Ing ahle 10 select and locate oil lands
1 Must the State Of TeNas he drilled over,
/ putting down well here and there In
/ the search for oil without any regard IA
{ the geological and miuernlogieni eonditi n.
( as in the prlmltiye DAYS o. the OF husl
; will state in the most emphatic tcrm'
I that "eXpertiug and locating oil lands "
! today as great n science as any OF the
/ noted sciences Of the present time.
/ The main trouble and what has done
more towards causing the public 10 become
Z skepticl regarding biologists, especially
Z roster While drilling 10 the Eastern ct
, fields ! have had men, who never saw
| an oil field before. come and ask me mum
| ernus questions about formations and oi
! In general taking memorandum % thu
| Information | gave them. and who after
| wards made no homes In stating thnt wgcI
| new oil district MNN NiN'"ff fif'ls NNfA
| Intended Ia 90 and locate oil property II
| the neighhorhood of the sew srkO VII Il
I on different occasions leurned otter
| Wards thev lid receiving large Eums to
! locating lands when In reality they 80
] lcetpd arv land thnt might meet thel
fancy without anv regard 10 oil iudica
lions for the big fee they received for =
doing. and IN consequence of which tn
capitalists who drilled for oh lost en0g
/ meus sums Of money,
You take every large successful o'd.tim
, an company and they have associatct
I with them reliable practical eeologlsts
In whose hands h entrusted -ae cxpertin1
| aud locaflng Of oil lands
The Standard OH company owes Its grea
success more 10 It's OF experts than to anN
thing else.
az warning 10 the public In general VIII
are Interested IN the Development Of Oh I
iaree oil corlpanies operating IN Texas ar
endeavofing publicly 70 Fidlcuie and cor
denim geologists, while az the same tim