The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-08
he Beaumont Field, but Not Many
DiIIers Are at Work.
TERRITORY STILL UNMARKED
mess Done by the Banks Serves as a
Thermometer.
EN1s MUST TAKE OUT A LICENSE
b.. They Can Do Real Estate
Business--Better Tone to Real
Estate Market.

ur,out. Texas, May THE situation
~ beaumont oil field, from a specula
standpoint. is unique and peculiar.
can't say matters are at standstill,
,bere is great activity In the field
considerable buying and selling Of
|ltv and stocks. But compared with
rush and excitement of ten days ago
10 Is n llstIessness and silence like that
oh generally precedes storm,
he "bringng in of a well from the
itory outside of the known" district
hid electrify local conditions; the
nders would roar and the lightnings
Spd fash. and the exciting days of a
weeks ago compared with the tumult
oh would follow would make in their
|ght hole in the ground of Pixies Peak.
he field, as II now exists, offers but
" little charm in speculative way.
/. "known' territory has become about
staple as graduated sugar on the mar
! Is Every foot of 1t has valued ire
ndous value--elimlnating the common
! d" from participating in deals, and
R6ning 1t to the manipulation of the
~, very rich companies. There Isn't
acre of this property on the market.
ne and time again 100000 Mas been
bred for a single acre in the producing
Id. but such offers are not even consd-
kd Ii would be hard to determine the
! value of an acre of this ground. 1t
|worth, perhaps, what an oil well would
worth flowing daily from 10000 to
b,0OO barrels of oil, less the cost of
liking well, for every effort in this
htcular territory has been rewarded and
brld beating gushers have been the re.
bt. Just where the oil strata extends
ERE are apparently few trying to solve
1t may not be a truth, but It looks
Try much as though many of the re-
htly organized companies We're 'ufrl.d
the cars One seems to he waiting
b the other to take the Initiative ana
result but very little actual drilling
being done. There are 16S derricks ny
Jar Beaumont. These derricks, towering
lyward, present an air of activity,
peclaly from passing car windows, from
distance, and are even calculated to
Iuse feeling of confidence and hopeful
ISIS as one passes between or under them.
BIT comp red with this vast array Of der,
rks one l.nds by actual count but twelve
Killing outfits in the field, and all of these
e not busy. There are quite humber
drlllers in Beaumont working hard TO
cure contracts, but without success. ASK
oil man for an explanation of tins
ocular condition and he Will at once
form you that these drlllers want from
1000 to $4,000 for sinking a well--an
itlandish prlce-and our company pro
'ses buylng lts own machinery. and sink,
g Its own we'll This may be true in
majority of cases. But when! After Il
ell has been developed on adjoining prop
" or when the nerve of the promoter
llarges to an extent warrantlng the
nturel
But with not another well developed.
hlch Is not at all likely. the Beaumont
I'D is the greatest discovered oil field in
e world and can today. from the gushers
ready opened, produce 700 barrels OF
ude oil every twentyfour hours.
The E. ]. Moskowltz company show
le following quotations Of mscellaneou
ocks: