New-York tribune., 1901-05-26

N'NN N'i'.S Atc Sl NDik OF preparations Tor
cflliing have been made. very few of these
wells are certain to reach the oil sands; it is
whispered that about eight or nine of them are
certainly dry holes; the fate of the remainder
cannot be even approximately foretod.
Interest is centred on the outcome of two or
three wells situated outside the present "gush-
err district. The drilling of these wells has heen
IN progress for weeks. and speculation hangs
GREATNESS upon the results Should they de-
selop OIL, il would mean an extension of the
known Held, with a great rise in values of the
SufFoundlnS lands; the other alternative will
mean Il heart breaking limitation OF the field.
Suspicion mas 1t that these holes have already
reached below the depth at which their great
nelghbors began 10 spout forth liquid wealth
But operations are conducted with a burglar 5;
secretiveness, ana the tale Of the drill is sacred
suspicion is at a discount in such place: vet
If these particular wells are not successful
others will be, fer il is not to be conceived that
this oil flood cannot be tapped at other spots
than those already found. Prospectors are busy
northeast into Louisiana. northwest to Corsi-
cana, southeast 10 Sabine Lake. and southwest
to High Island. The Lucas well alone produc rs
more oil daily than the whole Of the California
field What the Texas output Will lc when the
Held is fully developed can be surmised ~~Iy in
superlatyes.
Unfortunately. many OF the land titles are in
a woful state of effectiveness. AT prairie values
OF 81 to So niceties in title were Of no
moment. Even the most uncertain of these
same prairies, from the point Of view of oil
speculation, are held at $50 to S10o an -~-e:
tracts near the gusher district have sold readily
at from 5000 to S20000 an acre while the
gusher area itself has climbed up TO $1oooo0
an acre At particularly choice spot an
offer of SlltHAl made and refu fl a r,lo.
twenty-five feet square-just room enough to
rig a derrick At such figures titles have be
come OF immense Importance, and a long cal
eEdar Of law suits is now confronting the JEFF
ferson County courts. Texas lawyers will reap
q little harvest OF their own.
Beaumont is said to have population of ten
thousand 1t is the county seat of jefferson
County, but despite its premiership it straGgles
along the Neches River in a careless undigni-
fed manner. It has great sawmills. where the
long leaf yellow pine of Louisiana is prepared
for market, and rice mills where the crop of
! the surrounding praiTies is handled. Rice has
been king in this country, albeit a youthful one,
but oil has now usurped the throne. For the rest
little toe said about the town in its external
aspects except in line Of unfavorable criticism.
II has the filth that goes with surface drainage.
Its supply OF drinking water is dependent upon
the rains or the muddy bottoms uf the Neches.
Smallpox is prevalent, physicians placing the
number Of cases to-day high as hun
dred. To Northerner's conception the towns
people are astonishingly regardless of the pest,
and if il attacks them they simply murmur
Allah is Allah" or its Texas equivalent, and
turn in. Beaumont is in truth, ugly and in
adequate.
To this town Unexpectedly phenomenal now
| of petroleum brought a stream OF humanit;
| The hitherto lazy streets We're transformed into
oil exchanges, where unWonted crowds pushed
and struggled and where lands and options found
| a clamorous market at high figures Land Of
! fees sprang up in corridors Of business build
! ings. in hotel piazZas, street booths and TEN
porary wooden buildings An Oil and stock x
change established. Several hundred
porations for dealing in and prospecting oil
| lands were formed and exploited. Men, women
and boys bought and sold options and stocks at
| prices that doubled overnight. Land in all di-
rections was traded in with small regard to
| titles and blocks of corporate stock were abb
sorbed without adequate conception OF the val
! uas represented All this means that the crowd
perhaps equalled that of block two OF