The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-06-09


beaumont, Texas. June s.--A deal quite
out Of the ordinary was closed today in
which Messrs. u II. Beatty and Foster
Rose sold small tract OF land on spindle
Top Heights to New York aud Texas capt.
tsllsts for S125,ooo with a guarantee Of a
gusher. This is thought TO be the only
deal of this Kind ever made and IT cyl.
oences the faith OF Messrs. Beatty and
Rose in that particular Of the hill where
their tract was located.
~
There gems 10 be a race on among
the companies that have recently pur
for the honor Of bringing Ia the
hrst gusher. and already nearly
dozen new derrleks may he counted on
the land originally purchased by the HogF
Swayne syndicate. some Of which mas been
sold to oil companies and individuals. In
Rocking 10 the charmed hill, the compa
mics having lands elsewhere arc not dc
sorting them. but they wasn't gushers right
away, and they have taken what seems
20 them sure means of getting the coyut-
eu spoutara. II U.s. the consensus OF opinion
MI VIII develop their outside holdings
later, when the price Of drilling shall have
decreased considerably aud a dry hole will
not mean the expenditure Of $4,000 TO Slj,
600 With no returns.
Nowhere in the field Is there az much
neuylty as on the hfteen.ncre tract known
as the property OF the HHgR Swayne syudi-
cate. The Beatty Oil company which hns
acquired tract OF this land, hns a rig
run, Inc Ground Floor oil company OK,
poets 20 begin drilling the early part Ot
next week. aud the Manhattan on com.
few days The lumber wagons hauling
material Tor the derriclS the crews Of mon
dlggng "slnsh' ponds end other crews
putung up the rigs make busy scene, In
deed. Two Of the rigs are Sc close to.
getnsr that the post " one az the dor
ncks IL within The space occupied BY the
oeher derriek 10 the north and the north.
west OF the Crescent we'll many new der.
rieks are going M and ono or more wells
~
Two wells are now said 10 be expected
IN at any moment--the Higgins No. ? and
the McFaddln No. s. Mr. Carroll. who is
in charge OF the work ON the former well,
has anaugurated the use OF some special
drilsng machinery with which he hopes Ia
hiring In an eiRht,ineh gushor, tho largest
on the neld. lie has the we'll rmmed
ont 70 diameter NJ nine and three-qunrtei
VIII set an clghtnch casing on this rock
lie figures that when the dri Dassel
5 f1as2pG IN th e Fqek h" should have an otsbt
The McFaddin No. 8 has been expected
In for several days. but the driu Il nov
passing through rock almost as hard az
Tint and the progress Is very slow.
~
The failure OF outside wells 70 come r.
has caused the officers Of every wel.mean
Ing company in the Geld to took to Spindle
Top hill for the protection N their stock
holders aud as a result the last two weeks
has witnessed unparalleled activity in trad
ing 20 gusher property Tonight every man
in Beaumont, who is familiar with the
situation Will semit that the best thins
which has happened in ne field Affecting
Is the deal by which Ex Governor Hogs
aud Ills associates IN the SwAyne syndl
cate, w. T. Campbell, !. W. Swayne and A.
s Fisher, Scquired fifteen acres Of land
on Spindle Top hill, for Il WAS through
this transaction tlat the companies With
only outside holdings have been able %
ger property that VIII insure thOm an oil
we'll True they have had TO pay stin
ices and the highest are yet 10 he paid
fsell any Part q what they have left bat
II Is case n making good and the ma.
Jorlty 81 companies Ia tho field are d0sir.
Gus Of doing the right thing by taeir stock
holders even II ii does come high IA
obtain a comprehensive idea ~ tho de.
Rapd fer spindle ron property l. Is oply
and indldduals that have purchased from
the swnyne syndicate since May 81, among
them bsing the Citizens Consolidated com
pany, &hleh has n derrick and outal
already an the ground; Manhattan com
panEl whose rig also Is at work, BeAttS
eompsny derrick upi Export on and PIP,
Of minnesota Is president and Governor
Benton McMllin OF Tennessee. is n dhet
~ SroHnd Floor company, In which thu
hENood brothers, owners of two OF tai
El4sesi sushers ON the Hill. are Interested
EEL worth cqmpany; Enterprise compan,
o. ealyesioni Palestine and beaumont com
~ pase ccmpehy. Paragon company. an,
-. MOTT. Tor Galveston coinnnuy, j
= NeeEe Tor Two Galveston companies
sh9 W, Lane pr. X. Realty. wh,
drilled the famous Beatty wen. Is az III,
hend ~ the Beatty cnWnnuy. and Is inter
so,,t9 " naih US DrllleN and the AIis
re- X Sharp, one of tho mnst M
gpeiatoIH IN the hcid- Is managing IL,
gntnpnny Many prominent Bean
mnn, hRslntss men. among them " h
prninp ~ me First National bank ant
fnusssrd president Of the Bean
panies witch have ho,,uh; isnd pe IN,
Swtfne syndicate Moncyed men In "A done,
stA,ts Nfe iifnishlng capital for invest
q 70 ~ spindle Top land Mnst NJ NJ,
1faiS are fOi quarter acres The price a
iht fn'rini Of property having risen iron
~ $1,000 u Is the Intention a
taiF norton % their holdings FOR M,
p'seew 2 ersanzlng q large company an,
pfoe.Nins 81 49,
GEORGE = Hume nled suit in the distrlc
r0ru his afternoon 10 try title Tor on,
hals Of the spindle Top streets and 10
sip.osp dpmaees The suit Is Tor Sou
Lake avenue, spindle Top avenue, yeatc
avenuc. Trust avenue, old railroad grad,
Beaumont and Port Arthur road ana IN
riHht of way OF the Kansas city, Pitt,
9rd Gulf railroad. all being located 4
the IAmes A. Yeafch and James lngan
surveys. These streets. which are In Glady
o.a solne tine ago for develop
vowed the questions Of public rights OF wa
ana what constitutes a public road. Tn
svit Is brought against the confederat
~ aud Pipe Line company and judgmen
assel FOR an undivided half interest 4
~
The well near Netherlands and about Nv
miles southeast Of Spindle Top is reporte
ary at depth Of 1000 feet, the Infsrmatioi
49,. A.. .-II.