New-York tribune., 1901-05-25
FUEL OIL IN TEXAS.
DR.. FORWARD THINKS 1T WILL. EVENTJJ-
ALLY DISPLACE COAL IN
SEABOARD CITIES

DR. C. b. Forward, prominent oil refiner
OF Cleveland. predicts that Texas oil will. on
account of its cheapness and superiority within
five years dispIace coal as a fuel in all the At
lantic seaboard cities. Dr. Forward is just back
from extended investigation of the oil fields
in Texas
1T is merely matter of time needed for a
demonstration that the supply of fuel oil in
Texas is inexhaustible," said DIR. Forward to a.
Tribune reporter yesterday. and then fuel users
from the Gulf TO Labrador will begin to recog-
nize its utility. II can be sold cheaply the
producers care to make the price. II will be de-
lvered in New-YOrk at a small first cost. BY
January / there will be millions OF barrels of oil
ready for shipment. The two gushing wells
there have been closed until tankage accommo-
dations be built. The quantity of oil avail
able better be understood. perhaps. when
it is stated that the two wells already running
oil have a flow equal 10 the entire oil production
of Pennsylvania. Ohio and Indiana combined.
This petroleum is heavy fuel OIL and the
ordinary processes of refining 1t have not been
successful. II remains to be whether the
ingenuity OF our oil experts will meet the ext
gency and turn this new production to more
valuable uses than for mere fuel. For fuel alone
IT is sure to be an important factor in the COM
mercial and domestic life of our Atlantic sea-
board cities and towns. The surface evidences
OF oil bearing ground indicate that almost
limited supplies of this oil will be found close
tidewater
The speculative fever is more rampant
than the correspondents have described per-
sonally visited spots where land which six
months ago sold at from Sc to SO an acre for
rice growing. sold this winter and spring at from
$100 to S125,OOO an acre Twenty-Five dollars
acre a good price for some of these rice
marshes. Now. land much under water that
a fourfooted beast could not be driven within
three miles of 1t is sold at high prices 1t is like
every new thing. A lot OF wildcat spectators
have rushed in and are booming things. Grad
ually these fellows will be wiped out by the
operations of the law governing the survival or
the fittest, and then more conservative men
will go in and build up legitimate enterprises.
I'm Southwestern louisiana, at a village caiieu
Sulphur, land which went begging a few days
ago at SO is now selling at 5000 an
acre. 1t is common sight all through the
promising oil district to man with a map
In one hand and a contract in the other Offering
for sale land somewhere out in the woods or on
the prairie. miles distant. "A purchaser with
ready money along and buys the land
without visiting it-taking 1T almost absolutely
faith.
Texas Where oil is struck the prospectors con-
ceal the extent of their good fortune, In the
hope. doubt. of securing adjoining land at
the minimum of cost. The wells in Texas are
Russia has the nearest approach 70 them:
Every one is interested in what the standard
OIL Company will do in Texas. Their repreSefi-
tatives were early the ground The extent
of the strike nonplussed the Standard people, as
IL did every one else No one seems 10 know
what the Standard will do, but of course every
one knows IL will show it's hand at the neces-
sary time