The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-01

FINK Beaumont, Texas. April 3O.-At last the
u cltcment over the oil development in
VIC Beaumont field has, 1t seems, reached
IL climax. This does not mean that 1t
N subsidlng. merely that 1t has gained
tatb at point from which further ascension
Houd require hitherto unheard of or
unexpected stiike for stimulus Bringing
~ the gushers now is regarded only as in
ia ldent of the day and does not materially
Fleet the situation, unless, perchance, II
" ell is brought in on territory outside of
pc known field. Then, additional excite
II &ent would prevail, but it would center
n principally on the stocks Of the companies
&v 18th holdings between the new strike and
the old field.
IA Outside the present field the Kaiser &
Hkelly well will probabs be first to come
ID, If there really is oil whore the well is
bclng drilled. report was started yes
trrday afternoon that the well had been
Brought in, but as stated in The Post Of
tpday, the report was authortatiycly de-
fhied. not however, before number of
deals had been closed on the strength of
n The report. The Kelly well is not due
syet. and it may he two or three days before
III will be positively known what the result
Of the drilling will be.
N As ntimatcd above, there does not APP
Dear to be any increase in the speculation
mud excitement today: and on the other
(. Hand. 1t can be said that there has been no
Decline from the highest point the interest
has attained. Getting more to thc point
q speculation SENS to have settled down to
a somewhat steadier ana more business
Ike basis. The man who gets Il real good
proposition now has to pay Cor it--pay
good and strong-and he doesn't care to
friNsn fra & In npn
Z ground that was snapped up at less price
~ few days age, unless he sees where he
fis coming out on the deal. Lands have
reached a figure at which no sensible per
Bpn will buy until he is sure that the
Npioposition presents opportunities of equal
OF greater value People are SOLDERING up
nom their speculative dcbauch and are
viewing things with a cooler contempia-
\ hon.
& IT would be misleading and enron
Intimate that the speculation or interest
ID the oil development has been curlailcd
by the turn things have taken today, for
siIch has not been the case lnere has un-
uouDtedly been as much trading ms on
my previous day, but the fevershness OF
Tho situation has apparently passed away.
The work OF developing Smiths Island,
I'm the Neches river few miles below
"a Rtu uuluul, VIII ne begun WITHIN Il very
K Short while low. In fuct lumber for the
dtrricks Will be taken down there tomor-
raw, and operations will go right ahead.
Several persons enjoyed IL delightful out
lng down the river the island this morn
pig. The party was composed of Mcssrs.
"a Kiam and Edgar Watkins OF Houston,
"a. ID. Pullen of New York, Fred Fleming
and Allison Templcton of Corsicana Wal
~ Parker of the New orleans Times Dem
&0crat, Contractor l.. NJ Lea aud repre-
Maldr OF [ WIoy Post ,:noo. 1t, o,u
launch. the Robert H. Lee, for the Trip.
Ihe island is the property. o. the Island
kiam Is the president and it was visited
fr tile purpose OF selecting sizes for the
Meils to be put down. There are 800 acres
n land IN the island, aud the owners are
blbllant over the prospect of its OIL pro
auction.
IN The Old Glory oil company is a new
Houston concern the organization Of which
pas perfected m Beaumont today Mr.
Prince is the president, Mr.. Frank c.
zones, treasurer. and Mr. Edgar Watkins is
Yice president and general attorney. The
f1mpany Is capitalized for 100000, and
eas property in the Iowa colony, the j.
Rowe and Houston surveys.
ri The Stephenyillc Standard Oil company
Nus sofa out It's holdings, is redeenlng
lock certificates and VIII quit the bust
less.
~ The contract for the we'll to he put
Gown by the Imperial OIL company ut Ned
Xriand. about tour miles southeast of the
Rlesent oil neld was partially let today
N ne deal Will not be closed, however, until
4ne return of President Richards, who is
insisting at Fairfield.
Nj Mr. L. l.. Hanson sold an interest in a
II ase on a halfacre tract in the John A.
- catch survey today to Messrs. Woods <
wfoach, young real estate men from Meriu-
4 an, Miss, for $500 bonus and one-elshth
In the oil production. Mr.. ]. NJ Me
,Keath, leading attorney of Meridian is
81 $50 Interested in the deal as attorney for
" iessrs. Woods X Breach.
M The Manhattan OIL company placed an
x der today for machinery for Its seconu
~. The Manhattan already has one on
NC ground and Messrs. Walton * Knsolv
ing have the contract to put down the
4 Nst we'll Mr. c. b. Jones will bore the
Z 81 ond.
NJ was stated at the headquarters of the
NQlcen CITY OIL company today that en0ugn
money has been realized from the sale or
I'm ock 10 carry Its operations forward,
E3nd that as soon as the machinery can
PC received work on the wells will com
Nlence. The Queen City will advance its
,Wtoek to par tomorrow.
iii Telegram received by Mrs, w. u.
Hrfce this afternoon stated that the two
Us for the Texas Standard Oil company