Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1901-10-06
OIL FIELDS OF TEXAS
They Are Not Surpassed by Any
in the World.
VALUE IN MILLIONS.
BeaumOnt Fields Have Important Bear.
ings upon the Commercial and
indnsirial Wor.d ieWering
Price Of Fuel ~.

Baltimore. Oct 5.-Tho Mnnnfnc-
turers R,cori publi-hos very cll5or-
ate rerlow covering ths prospects Of the
Texas oil field by q +. 2 Caracrisii.
who has been making a close study OF
It for several months. following invesii-
cations mnia n t.e same held soma
yearaag 40 ihe a.nri -lr Caracrisii
criiiciscs very strongly the wild specu.
lati0n which has prevailed Ia the or
ganiaiion oi "lapar' companies, form.
Cd more for fhe purpose Of selling tho
stock than Tor the Legitimate develop.
ment Of the oil business After point.
ing ont the great dangers OF this infla-
tion 10 the legitimate development Of
business. and the losses that are likely
20 be incurred by the speculative craze,
he says in part;
81 am not making this statement
blindly or to discourage legitimate in
vestment. but rather 10 foster those vital
industrial developments that are abso-
lutely necessary to insure aud maintain
an industry that has before Il possibili-
ties so vast that the ordinary man can
not possibly estimate them. Taking
this field upon It's actual investment.
and not upon its capitalization ~ infiat-
cd by 'bubble' companies. do not hesi-
tate 70 state that the returns upon the
money actually expended for property
bought at reasonable iguresa and the de-
yelonNeg-sItkcse properties will be
found as n whole 20 exceed those Of any
other field 70 far discovered east Of tho
Rocky mountains
Looking forward 10 the time when
the business wigl adjust itself to
steady output, rathNr than to the enor.
nous production Of "gushers" at one
point. he estimates the ultimate posi-
bility Of the Texas field Nc 5000. 900
barrels a year. which he states may be
taken as minimum basis rather than
an oxireme position, aud that this viii
b. reached as a regular output wiIbin
five years. lie also states that aftev
n careful examination Of conditions. he
feels justified Ia predicting future rate
Of 90 CENTS per barrel for Texas crude
petroleum. or about equal TO the prico
OF the Russian product. allowing for the
greater demand for the Texas output,
and at 90 cents barrel this fuel oil
will be equivalent TO coal at e. 30 per
ton.
Comparing the Russian oil situation
with that Of Texas he says;
"Ihero has been a marked falling of |
In tho prices Of Russian oil since the
Texas field was developed Such de.
crease in value il thoroughly illogical |
from the business standpoint. because
the conditions Of both oils, chemically, |
geographically and otherwise, are such |
as 10 make competition from either side |
an absolute impossibility. since the val
ue Of liquid fuel Is established on the |
Atlantic coast Of the United States. !
There are so many elements in favor Of
the fuel petroleum found on the gulf |
platoaus that it is only temporary mat
ter before the public will appreciate tne
vast advantages OF liquid fuel over fixed
carbons, This is especially so when We
consider the possibilities Of crude petro-
leum in the PRODUCTION OF steam in the
merchant marines and navies ot the
world, as well as on locomotives and
under stationary boilers
"The petroleum found in the Beau
mont district Is Of great value In the
production Of Illuminating gas. aud viii
probably furnish the gas.producing 1
hydro-carbon Of Europe. unless de-
mand Is at once created in this country.
which Is moro than probable. The pc
troleum l. Of the very highest value as
q fuel. The Texas petroleum fields are
not yet thoroughly known. and no dc.
pondonce should Do placed upon re-
ports c0ndemning any one district IN
favor of another The petroleum aud
gas burning formations Of this region
extend from Alabama into Mississippi
aud Louisiana, aud are prolific in many
sections. Owing to tho fact that the
actual contour OF the geological country
outside Of the surface drifts Of recent
origin. Is not known. IL is very diflicult
90 state authoritafively without very
minute inspection where petroleum and
gas aro found. The era OF Texis petro.
lcum development has not yet arrived.
except in insulated spots that gives no
index 60 the actual possibilities Of tho
undovclopod industry.
"Tho Texas oil fields. especially in
settled production. are. and for many
years viii continue TO be. Of the high
est importance 20 the financial and in.
dustrial world. aud within i2 months
the demand for Texas fuel petroleum
viii be greater than the supply. AZ
present about 1900 barrels are shipped
daily. but this Is only temporary con-