The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-10-05
BEAUMONT OIL FIELD.
The Manufacturers Record Expert Di
cussed Its Possibilities.

ne Manufacturers Record Expert Dis
eussed Its Possibilities.
Baltimore, October 3.-The Mauufactur-
ers Record publishes very elaborate re,
view Of the prospects Of the Texas oil
field, by c. T. Z. Caracrisu. who has been
making a close study Of it for several
months, following Investigations made N
the same field some years ago. AT the
start Mr. Caracristi criticlses very strong.
y the wild speculation which has prevailed
in the organization Of paper companies
formed moro for the purpose of selling the
stock than for the legitimate development
of the oil business. After pointing out the
great dangers Of rlis imitation 10 the leglt.
mate development of business, and the
losses hat are Likely to be incurred by the
speculative craze he says In part:
IL ann not making this statement blind
~ or TO discourage legitimate Investment
hut rather to foster those vital industrial
developments that are absolutely necessary
20 insure and maintain an industry that
has before II possibilities SO vast that the
them Taking this field upon It's actual
Investment and not upon its capitaliZd-
tlon 0s inflated by bubble companies,
do not hesitate to say that the returns
upon the money actually expended for
property bought at reasonable figures and
thc development of those properties. will
ans uthcr field 50 far discovered east OF
the Rocky mountains
Looking forward TO the time when the
business Will adjust Itself 10 n steady out
put, rather than 10 the enormous produr-
t!ou Of the gushers at one point, ne csii-
mated the ultimate possibilities Of the
Texas field mt ]5,W6Uo barrels n yclr.
which he states, may he taken as a min
imUm basis rather than an extreme posi-
tion, and that this will be reached as a
regular output within five years. He also
states that after careful examination OF
the conditions, he feels justified In predict
for Texas crude petroleum, or ah0dt equal
to the price Of the Russian product al
lowing for the greater demand for the
Texas output, and at 60 cents a barrel
this fuel oil will be equivalent 10 coal ut
81 40 per ton. He advises producers against
making long time contracts at present low
prices for oil claiming that 1.-THE home de
mand for this product VIII soon he such
within the next nine months rs to tax the
full capacity Of the Beaumont field, and
better prices may be had at home than
abroad, forcing the foreigners to increase
their bids for petroleum,
THE petroleum found in the Beaumont
district is of great value In the production
Of Illuminating gas, and viii probably fur.
nlsh the gas-producing hydro. carbon Of
Europe, unless demand is al once Great
Cd IN this country, which Is more than
probable The petroleum is Of the very
highest value as fuel. The Texas pc
troleum fields are not yet thoroughly
known, and no dependence could he placed
upon reports condemning any one district
I'M favor Of another, The petroleum and
Gas burning formations Of this region ex.
tend from Alabama and Mississippi and
Louisiana and are prolific In many sec
lions. Owing Ia the fact that the actual
contour of the geological country, outside
of the surface drifts of recent origin is
nor known. it is yer~ difficult TO state
authorltatiyely without very minute inspee-
ton where petroleum and gas are found.
The era of Texas petroleum development
has not yet arrived, except In Isolated spots
that give no index to the actual posslbili-
Ties al the undeveoped industry. The
Texas oil fields. especially in settled pro-
dnctlon are, and for many years will con.
tinue 10 he Of the highest Importance 90
the financial and industrial world, and
within twelve months the demand for
Texas fuel petroleum will be greater than
the supply. At present about ~ 900 bar
rels are shipped daily, but this Is only a
tennorary condition caused by the lack Of
shipping facilities. The, three pipe, lines
connecting Beaumont with Sabine and Port
Arthur viii change this condition, and a
much greater output will be sold"