Evening star., 1901-08-31
OIL g
PIPE LIME co.
OF BEAUMONT.
President. Hon. Charles A. Towne
OF NEW YORK CITY And BEAUMONT, TEX.

Organized June Is, began drilling July Is, struck
oil August 16-a 7O,OOO-barrel gusher In 62 days
from the start
Its business management has thus achieved the
first and ONLY UNCERTAIN essential In estab-
fishing an oil business In Texas-securing the oil.
The second essential is storage reservoirs in the
field; the first Of these, to hold 500 600 barrels is
now being constructed. on its own lands at a cost
Of approximately $40 600, and will speedily be fol-
lowed by others. The company has ample space on
its own lands close to Spndle-top Heights for
eral million barrel reservoirs.
The third essential IS pipe line; the right Of way
for one to Port Arthur and one to Sabine Pass has
already been secured and bids for these now
under consideration At the lowest bid received,
Port Arthur will cost about $95, 900, Sabine Pass
about $136, 600.
The fourth essential is steel storage tanks, with
loading racks at tidewater. with water front. The
exteLt Of the initial tankage here has not been de-
cided, but will probably be 900 barrels costing
about SOC, 900.
AS the fifth essential, tank steamers for it's ex-
port trade are being negotiated for. To buy or
build line of steamers sufficient to handle the
product Of the Export Oil Pipe Line Co. involves
considerable immediate use Of funds which are
to be provided by the present issue Of treasury
stock.
Additional wells will also be drilled on the COM
panys lands at very early day.
1t will be readily that the successful estab-
lishment Of oil business requires heavy expend-
lures. but once the supply Of oil is assured, the
profits far more than proportionately great In
fact 1t becomes necessary to curtail the truth in
stating the profits of Texas glshers for fear of
ceeding belief. This company has preferred to be
exceedingly conservative in all its statements
knowing that all the probabilities (Which the sue
cess Of its first undertaking has now proved GER
TAINTIES) were far greater than it's claims.
The Export Oil & Pipe Line Company, in its
original address to the public, made these state
ments:
The officers and directors Of the Export Oil &
Pipe Line Co. men of recognized integrity COM
mercfal ability and good business standing, who
would not be connected with any enterprise IN
which they had not the fullest confidence.
After a careful and thorough survey Of the field
they have organized this company, and now offer
1t to investors practical. feasible proposition
ore which they earnestly indorse and believe will
yield handsome returns.
Intending to deal frankly and honestly with the
public, they have nothing TO conceal, stand ready
to substaBtate every claim they make and invite
thorough Investigation into the company's holdings
its business methods, its condition and standing.
They will direct and manage the affairs of the
company with the same prudence exercised in the
conduct of their own business, and see that money
brought into the treasury by the sale Of stock is
spent In honest development Of the property and
the interest Of the company's shareholders, to
whose inspection every transaction will be open."
The company's management has thus far made
good its promises. What it has done up to this
time believe 1t will continue to do in the fu-
ture. Its statements FACTS its expectations
have thus far been MORE THAN REALIZED; and
We believe that investors will find 1t true In this
case, as in any other business. that what a man
has done is what he will continue doing Nothing
succeeds like success is a trte saying; but moth
ing truer was ever set down.
1t is often difficult to form at distance a cor
rect judgment Of the merits Of an investment; but
those On the ground have such difficulty. Stock
exchanges necessarily conservative, carefully
investigating the condition Of any corpora ton be-
fcre listing it's stocS therefore, the following let