The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-05
From the East Now to Aid in Develop.
ing Texas Oil Field.
THE NEW WELL IS A FREAK
Even in the Country Where All Wells Are
- Freakish.
Known TERRITORY IS NOT ENLARGED
Chescent Holding Is Near the Lucas
fGeyscr and II Was Known All Along
Oil Would Be Struck.

Beaumont Texas, May 4,--The outlook
for the Beaumont oil field Is distinctly
brighter today than 1t has yet been. and
as a result people who have the best In.
terests OF the section closest at heart ana
who are in position 10 realize the situa-
tion and the Important Indications that
have developed today are jubilant.
1t has been believed all along by some
that the field presented too great oppor.
tunltics for Eastern capital To long resist
and II IL apparent now that the time has
about arrived when cold moneybags" win
nnloose his strings and mingle the merry
chink Of the dollar with the inviting CUR
Gle Of the gushing oil.
The influx of Eastern capital may not
he so very sudden at the start. bur
.feelers'' are being put out to test the
pulse OF the situation, and It's oil geyscrs
tn stock certificates that everything Will
be found all right and that Ne "fcelers"
now being put out VIII beckon 20 the timid
and wary capital Of the great East to
come and participate In the harvesting OF
fortunes 10 be gathered in the greater
Southwest
So far most Of the big Eastern papers
apparently through spirit Of jealousy,
have paid LITTLE attention to the great oil
development here. ana the confidence
the capitalists OF that section have had
in what they have considered to Nc the
nrondness nj mind Of these publications.
has deferred them from looking upon tho
situation here with fur realization or
the possibilities that are manifest This,
however has been only one OF the deter
ring Influences.
What has csused the improvement In
the outlook for the situation today ls the
knowledge that some strong branches Of
Eastern capital have become actually in.
terested In thc dcd A COMPANY WAS
formed here last night with which Car
encc Mckay, n son Of J. W Mckay Of the
Mckay Bennett interests. w. I. stowe and
Phnip Lrdig MI Of Now York are prom
inently Identified These gentlemen have
for their associates such mon as Peter n
Martin and William " Thornton Of San
Francisco ] GaTpv Of Los Angeles
Samuel SewhouSc of Denver. c. I. Han
son now Of Beaumont, mud ]. n. Tread.
we'll Of California Hon. II. c. Dun OF
Beaumont is the corporations counsel.
The company Is to be known as tho
Nipper OH company, and while the cap
itallzatlon Is 10 he only 100000 smaller
than some would think whore 80 lnncn
capital Is represented there viii he nhso
lptcly NO delay. further than that neccs
sary for the machinery to arrive, In tbs
commencement ~ operations The machin
cry was ordered nv wire upon the rorma
tion Of tie company aud IT Is stared q,
dav that everything has been provided for
Not share Of the stock viii be offered
Tor sale and the company wlil carry ~
operations and developments styictly "or
It's own hook" so 70 spcnk
The developments wll hegln on tnc
southwest corner Of the j w Bullock
league.
another new concern, which hung our
is shingle today, Is tho Npw Dominican
oil aud Pipe Line company composed
wholly Of Texas capitalists ana capitalized
FOR 100000 Like the company above
there ls none Of this stock for safe ~ yc,,
and there Is n question among the pro
moters as 10 whether they viii otTnr any
at all, apparently a majority preferriug "a
not sell The company owns 10000 acres
OF land, extending along the Neohcs river
from the oil fields to Angelina county.
Three rigs will be put 10 work ma soon as
possible.
The National OH and Pipe Line com
pany has started It's second well and Il {,
being put down on block ~, which Is lDN
feet from the compnny's present gnshcr
President Henry stated this afternoon that
J. the National would he ready next Wcdnes
day to place an order for twenty or NOR,
miles Of piping for Its pipe line.
The derrick for the Crude Petroleum
company OF Texas iS< heing hult on ihl
company's holdings near the Treadwpl 4
Hanson property. The machinery has beer
ordered and the manufacturers have mott
fed the company that the order viii h'
filled In It's turn.
The well being drilled for the Gnhei
oil company on block AZ Of Snlndle. Tor
Heighths tx down $50 feet The dr1lcr7
carried the 12-inch pipe TO that depth ant
found solid rock upon which Go set II
"a drill is now working through the 10
NzA1aaA rough & McElroy have signed win
.~~rSS>~SsSySAQr for well near IN,
; 80 WE GAay's property. -.
sS|, ,h s,o will Ts,BSSHs, S,0 great rapid.,
Texas Optical Co.,6 =. are T 4SIn,
- osss ron 9 g N 70 9 2. N ~ ,th whici