The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1901-04-24
Among the Texas Geysers,

S. w. McCuen, of Oil City. is in rece pit
of an interesting letter from I. Il. Dean,
who has beei at Beaumont, Texas, for
some time, from (which the following
extracts are taken;
The gravity of the oil is still 22l. but
expect to see lighter oil found. The
production of the wells is still falling OIL,
and venture the prediction that il all
the wells completed should be opened to-
morrow the combined production, in
cludiug the original well. would not equal
the production of the Lucas or Guiley
well as it started oil for the first nine
days. A good deal of gas has been struck
in a couple of wells near by, and when
two of the wells were opened up yester-
day, for public exhibition, they did not
| flow more than thirty feet over the der
rick, and If all three of them were opened
tomorrow and len open we would not
have flowing well in this pool at the
end of ninety days. The "tenderieet' do
not know this and are figuring that these
wells will continue to flow forever aud
are booming prices accordingly.
Everything within miles of these wells
has jumped from ten to ten thousand per
cent. in the last two weeks. A hundred
| corporations have been formed and are
selling their stock as fast as it can be
printed and signed by the proper officers.
The Higgins Oil Company, stock capital
lied at 100000, with a thirty-four-acre
lease only, shares 500 each, is selling at
81 900 per share. A tive-acre piece which
was offered last week at $500 per acre sold
Monday for $4,000. It's nothing unus-
ual to SET someone secure a ten, acre lease
one day and be out the next day with an
announcement of a stock company of
SlO0, 600 to $4,000 capital. Three COM
panies are already announced with So
COO, 600 capitol, one with S50,OOO,OOO, and
yet so far the old guard, who have been
in the business since Pithole, have not
organized a single corporation, but are
waiting to gather up the wreckage when
the bubble bursts, as it will.
When first came here you could not
get lease unless you would bind your
self not to sell it at any ime to the 5. o.
Co., but now many of the same men who
were so brave, and who were going to
build pipe lines, ships, etc., are following
Uncle Daniel and Colonel Payne around
the fields and towns supplicating them
to come to their relief, because they had
been foolish enough to 20 in as close as
they could get to the old well and drill
wells without having made any provision
to take care of their oil. The result is
that, as usual, the S. o. Co. will get some
very cheap fuel oil and these "tender-
feet" will have some experience.
Fortunately very few of the large real
estate owners are in this boom and hence
will benefit by experience and the great
bulk of the field will be developed as a
market can be found for the product and
the land owners and producers can profit
by it.
have been looked upon by some here
as a Standard hIreling, because l warned
these people two months ago what their
condition would he if they persisted in
going on and drilling all new wells into
this gusher pool without first providing
to take care of their output, and ] made a
wager with one man month ago that oil
would sell, at the wells, within three
months, at five cents barrel. They are
offering to give it away now.
| think that Texas can furnish oil
enough for everybody you will give us
decent chance. 1t will not come from
| this gusher pool, but from other parts oi
the field. Enough about oil. Now about
the town: Beaumont, the "Queen of the
Nedus" is bound to have 100000 popula-
| ton in ten years. Located as it is, the
only safe deep water port on the gulfwest
of New Orleans, with the completion o.
seven miles Of deep water canal, Beau
mont will be in direct touch with every
port in the world, backed by the rches
agricultural country in the United States
with the only remaining forests ofyel ow
pine timber lying for eight hundred miles
up the Nedus and Sabine rivers and al
ready sending two hundred and fifty mil
lion feet per annum from this city to tn,
markets of the world. This is fast be-
coming the center of the rice industry o
America, and with this wonderful devel
op rent of oil and gas to give us cheal
fuel in abundance, Beaumont can wei
say to the manu- acturers ofthis continent
"Come to the city combining more advan
tages to induce and invest capital than
any other city in the world to-day" anC
with the homestead law of Texas and tho
prospect of rapid transit in and about the
city, she says to the laboring men who
are living in the tenement houses anC
novels ofthe North and East, come tC
Beaumont and you can have a home o
your own. /. Il. d.
500 REWARD, 500.