The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-11-02

~ play an important part III lut Soluil"u
this problem. The Engllshman. while
.ially not as quick to act as his American
.lsns. bids fair to reap large share of
profits from Beaumont OIL For some
bon, or perhaps a number Of reasons,
herican capitalists have been rather slow
. Interesting themselves In the marketing
scaumont oil, while the Englishman
B come across the water, investigated the
IA and is now making oyertures to pur
|ase from one to dozen gushers, siep
|entatives OF not less than half dozen
&elish syndlcates are now in this field,
INC of whom have been here for two or
bee weeks. Cablegrams are passing TO
Ia fro, and some immense deals are being
|fked up.
Vnst how these plans will eliminate is,
course, unforeseen, but 1t is certain
Ia English capital will soon become large
Interested in Beaumont oil IL the pros
.etlve purchasers and the present owners
get together. The fact that litigation
some sort Is pending against most of
spindle Top property is believed to
BE delayed the closing up of some deals
b. have been under way for several days
la litigation is not of such a nature, how
Ter, as TO permanently block the deals,
Ia well.informed people believe that the
' zt piece of news of an important nature
connection with this field will be the
.ws of some big transfer of Spindle Top
|operty.
|Nhile some domestic capital is feeling
|eund in tentative way. English capital
Is seem more eager to take hold. This
| perhaps due to the fact that England,
IA nearly all of Europe for that matter,
IA been face to face with a serious prob
~ in the matter of fuel supply for
|yeral years, and the situation in that
spcct holds out no promise of improve
! nt. II is argued that the great difficulty
obtaining coal for English ships has
btned the eyes of English capitalists to
"a possibilities of Beaumont oil, which is
"a only promise of relief for declining
ID! supply. Be that as II may, English
| e. have investigated the field and appear
. he satisfied They have ascertained
Sat Beaumont crude petroleum can, with
id any p.ior treatment whatever. he
ed in any manner that coal is used; that
| given weight of oil will produce more
.at than the same weight Of coal; that
IA oil may be used for heating the home
| cooking a meal, and that it is here in
bparenuy lrexhaustible quantities.
. Al meeting of oil men held here some
eeks ago someone spoke about getting
astern capitalists interested in the field
.ith view to opening up market for
he oil. Captain f. NJ Brown, an oil man
many years experience in the various
Bias of the United States. said;
| sLet Eastern capital alone. OF course,
| would be good thing to have, but 1t
. iii come, and an effort to bring it might
his delay its coming Not only the cap
| al Of the Eastern States. but the capital
| the whole world will come-simply be
|anse that which che whole world needs is
band here in greater quantities than any
| here else on earth. My advice is to oil
BEN. cap yom wells and wait. You have
bat the world wants and can well afford
o. wait until the envious and slanderous
| tatements about this field have becn dis
| RI we'd and people abroad shall know, as
IL do, that the greatest oil field on earth
! that of Spindle Top Heights.
| No concerted effort is being made to in
crest outside capital in this field, but
|vcrything points to a great influx of cap
han within the next three months, and it
almost certain that some immense deals
I'm be made during that time.
~
. C. F. z. Caracristi. who some weeks age
Bublished an extended review of the Beau
| nrnt oil field in the Manufacturers Record
IS in the city again and now announces
| hat he must revise his former estimate Of
Mat well in this field will produce He
+ays that since seeing two wells spout yes
Ierday afternoon he realizes that his form
Ar estimate was much too small.
Al Is a fact that tests were made before
md since Mr.. Caracristi's review was pub
.sshed that made his figures appear ridicu
.ons When Mr.. Caracristi visited this
held for the purpose of preparing his re
. hat the pressure was failing. He was al
|iscd to look into rhe matter more thor
|ughly and when he did so he refraincC
from saying anything about failing pres
a well being drilled by the c. 2 Jone
development company on block a is nov
.iclayed with a twisted pipe az dept
| Il 1850 feet and the drillers have a fishinl
BOD Everything points to the bringing II
~ a gusher al this place If the twistei
Iipe can be recovered and since gushe
. ~ proved field, 1t is matter OF great I'm
.pcrtance. The nearest producing well
.bbout 1000 feet to the east.
~
Several wells were reported as helm
|ahout ready to come In. among which ar
|sone that have been delayed for seyera
days
General B. r. Cowan, president of I'll
|CIncinnati- Beaumont oil company is I
Toe city for the purpose OF perfectlng al
IN pgempnts ia market the COmpany's oil.
lt Is said that the petition of Mrs. Ami
+. Snow of California to have a receive
appointed for the gushers in the veatc
league is finding favor even among som
| nf those against whom the petition Is d
.rected. Some OF the companies Involve
say that the appointment OF a receive
Mould have the effect of forming con
hlnation Of interests, and that under sue
y condition the cutting of prices ON o
.Would he most effectuallY stopped. Son
. cf the smaller companies, Il Is stated. hay
| hten Offering oil nj almost any price. hl
charge Of all the wells In the field eXcel
| thrce or feur, It Is believed by some thu
. ihcrc could be no more cutting OF price
. Ihe case Is TO he heard before Judl
bNant at Sherman on November IL, an
| NC result Of the hearing Is awaited VII
Much interest.
The following sales Of oil stocks we
pade today;
Higgins, shares at SIS.