The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-06-04
English Syndicate Interested in
Beaumont Fields Will De-
velOp Its Property.
TALK OF PRODUCERS COMBINE.
Close Connection With Galveston
Destroyed by the Great
Storm Will BE Re
established.
REPUBLIC SPECIAL.

REPrBI.Ic SPECIAL.
beaumont. Tex. June at was learned
to-day that the English syndicate which
has obtained leases on 5000 acres OF Texas
oil LANDS has agreed to expend not less than
sl50.eS In developing the property and Is
obligated to pay the owners cents royalty
On every barrel of oil produced.
T. W. Lane to-day paid s200O0 cash for
n quarter acre Of the Swayne syndicate
land. The deal was made with W. /.
Campbell The syndicate has compromised
with the J. NJ. Guffey company. which held
lease on the fifteen acres Of Spindletop
property involved In the original deal by
the payment OF a large sum In cash. a
well which was being sunk by the Guffey
company is included in the settlement and
l.; now owned by Governor Hogg and his
associates. IL Is down GO feet.
Since President Pierce OF the Waters
Pierce Oil Company announced through The
Republic that his company was prepared
to handle the output of the Beaumont field.
and was ready to make contracts for fuel
OIL there has been some talk OF forming
n combination among the four producing
companies outside of the Gufey company
to install complete facilities for market
ing their product. The talk has not taken
shape in action and SO far the scheme ex-
lists only in one Of the newspapers here.
which has evinced antagonism towards the
Waters Pierce company.
Plans Have Not Capitalized.
II is known that such a plan has been
advocated from the start by the Haywood
company. but when its officers attempted
to secure the cooperation OF some OF the
other companies they were met With In
difference. One result is that the Hey
wood company is now using the Gufey
ccmpany's loading rack on the Sabine and
East Texas Railroad.
IL is understood here that the Guffey
company and the Waters Pierce have
reached an agreement as to the marketing
Of oil The producers who are anxious to
do business and get rid OF their oil have no
prejudice against the Waters Pierce. As one
of them put II to-day:
I'VE don't care who buys our oil. just so
we sell IL fast and get fair price for it,
A movement Is on foot to rebuild that
portion of the Gulf and International Rail-
road which was washed away by the storm
last September. This road connected Beau
mont directly with Galveston. The growth
of the oil business has made the contem-
plated work absolutely necessary. The dis
tarce via the G. d l. 10 Galveston is sew
enty-five miles. where. by Houston. the
only line now available. the distance Is Us
miles.
The GufYey well. on the northeast slope
Of Spindletop. is still boring in the hard
rock. and is expected to come In at any
time There were no developments at the
West Texas well. II il down $40 feet. The
machinery Is being detached at the kel-
ley well and will be taken TO Jennings to-
day to be used in boring a well for the
Haywood company.
Ten Southern Pacific tank cars arrived
to-day and will be loaded with oil for To-
comotive fuel to be used on the cOmpany's
line in Arizona.
The Waters Pierce company has purchased
property abutting the Southern Pacific
tracks. on which II will erect warehouses
and other local necessary equipments