The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-17
PROMISING FAR-REacHING EF-

TIE drop in the price 81 crude pe-
troieum In she Eastern Oh fields or mar.
kets II consequences Of the discovery OF
the great we'll AZ Beaumont is signiaca1,
IN more Eays than one.
First and foremost It Is an elnpi.atl &c
recognition OF the richness Of the new
Tcxas held- II means tina: oil IL suffi-
Gent quantity is likely 70 be found in
Southeast Texas 20 materially affect the
Nat.on's supply. That Ia turn mus. az
fecl the proas and shs stock o. tho
STANDARD Oh compaay ami o. tho .aie-
SendsuI oil interests 10 the East. The
Texas Asid remaining indepaadeat OF lie
trusts. the price Of oil o. the Character
discovered here must come down IN al
the markets Of the WORLD. Ana ghfie
tais factor must not Be Overlooked b. ths
oil 5roSpectorz and s7eealators as az
tecIing the ultimate value OF he aeld
end their inalv.daal holdings. the gen
er2l public Will have ssh greater Gauge
TO rejoice that 20 useful product ia
go maay directions msy 6scome greatly
cAeapeae4 20 the consumer. Is the case
OF fuel OIL such reduction would BE-
a direct stimulus to ,hs multiplication
o. other Industries.
The Standard OH compauy IS a ananc.al
giant Tae dIscovsrers Of new aslds \
confidently Anticipate struggle with
this kias Of the trusts n IL becomes
ue.ssns 70 spend millions 10 break
down oom-ct.sion the aadar4 nsye,
hesitatcs. But IL is encouraging 80 know
tina; lndepeaaen. interests have been sue
cessfully composing the EST with tn.
trust aud thu; the Texas interes.s viii
also De able 70 30 so 81, she volume Of
oil in our mrs field IS anything Tx,
what ia adi-l.ed a7 the flow from
th.s aeH veil.
In anticipation o. these new discoveries
from time TO tlme wb Oh possibly c,pld
not be absorbed. the Standard oil mag
mates for several years past have beea
shreEdIx investing IN transportation
properties. Next 10 controlling the sup.
ply Of oil la 70 control transportation
But here again the Texas heIi is ia.
yored By fortune. II Is close 10 the SEQ
and the oil can be shipped abroad or 4,
all the American seacoast cities lnde.
pendently OF the action OF rail Nay com.
oines.
It - possible. as was intlmated ID
the dispatches from Washington in YES.
terday's Post. that the huge oil ,rus. /.
now looking also to control Of the bi.
American ship lines to Europe. by which
With large subsidy from the govern
mcnt. the TRUSTS products could be car.
ried abroad at nominal freight rate
No project IL too great for this octopus
and iis ambition and greed are insatia.
BILE.
The discovery at Beaumont. therefore
Is likely to have a fworldwide effect OF
the oil industry, on fuel and various on.
terprlses. It's significance " .omsthinl
to arouse almost unlimited mental spec
ulation. It may reyoiutionze condition,
elsewhere than in South Texas, II Il
Just possible that even the king octopu.
may be compelled to draw in some OF il,
tentacles aud cease 10 be supreme. Ant
yet, on the other hand, the recognition
Of the fact that Il is In \ life and deatt
grlpple may cause this powerful corpora.
ton 10 put forth every resource at M
command to crush the new competition.
The most interesting developments are
undoubtedly TO come later in the history
OF this new oil field.