The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-02-15
FIELD HAS BEEN WIDENED
new Well Adds Largely 10 Proved Oil
Territory at Beaumont.
A LARGE INCREASE IN ITS CAPITAL
Has Been Arranged by the Bio British
company in Order to Handle the
Texas Product.

beaumont. Texas. February 1.-THE 7
~ Guney company brought in a well This
AFTERNOON that broadened the proved na,d
considerably. adding a strip $50 feet wlda
on the south. The well, which is kpown
rs the Weed & Hebert well, spoutod AZ
depth of 1890 feet. II is q si1Jncb wi,
ana gushed in an entirely satlsfoctor,
manner. This is the most important well
thst has come in for several weeks.
~
An authoritative announcement has heen
received from London by local oil cam
Puny' stating that the capital of the Shell
transport ana Trading company has been
increased t1,OoO,OO0 for the purpose of
equipping that concern to enter extensively
into the business Of handling 'burnlnv and
Illuminating oils made from the Beaumont
petroleum"
Such action was reported several davs
ago but the positive announcement that
the capital was increased for the purpose
OF enabling the company to handle Brnu.
moht oil on an extensive scale is taken ia
mean great deal he.e.
tu IS known tnat ne,otiations we're on
tI tne purcuase OF he shell company by
tue standard OIL company some weeks ago.
uinH recent adNicts iete,ved here from IN.
SUI sources state that the negotiations
We're broken oil by the Shell peonle I'M
TACT .eclltation to this effect was made
~ an otMeer of the Shell company In a
talh hesoFe directors and stockholders Of
thc company While the adViccs received
mere 10 not state it as a certainty thh
strong presumption is that the Shell Dco-
PIE saw more In Beaumon oil than was mt
h hrs1 apparent, and to this was due the
eteaklng on of the negotiations with the
Standard oil company.
letter received from a London Arm by
Beaumont oil company states that a
pro process has recently been invented there
ana Is now In use whereby 100000 cubic
ieet Of gas Is being manufactured from n
TON or beaumont oil. while the coal used
dnere for gas-maklnS will yield only TO-.
~ cubic feet, TO the ton. The letter SAYS
cialms the oil will make only 10000 feet
or gas TO the ton, but the new process /;
actually in use, gets 100000 feet from a
ton or oil seven barrels.
1t is also stated that marine engine
gets results out Of a ton Of oil equal TO
those obtained from four tons Of coal.
~
The granting of a permit for the one
Penny oil company to do business in Texas
has put company with unique PROPOSE.
tlon in the field protest was made to
the secretary OF state against the granting
OF TINS permit Beaumont brokerage hrm
ma KING the protest against companies with
such ow-priced stock. The One Penny com.
pany proposes redeeming each 1-cent share
with barrel of oil II presented within
sixty days.
me tank steamer Paraguay, which will
be operated by the Sun company, sailed TO
day from Philadelphia for Port Arthur,
where she will take on a cargo Of oil from
the tanks of the National oil and Pipe Line
company. The carrying capacity of this
vessel Is 5000 barrels, and her cargo will
materially swell the February shipments
The tank steamer Atlas, towing barge No.
81, sailed today from Port Arthur with
cargo OF $1,000 barrels OF oil. The Major
Barrett, with carrying capacity of 1000
barrels, Is now loading at Port Arthur, and
the National OIL and Pipe Line company eX-
poets big English tank steamer, a com,
panlon vessel to the Cardlum, In a few
days.
There are other vessels that are now being
into oil carriers and some Of
these should also arrive and take cargoes
this month. February shipments will like
ly show gain of % per cent over those OF
January,
The National OIL and Pipe Line company
reports the closing up of some contracts
for big shipments to points on the Atlantic
coast. Manager Pullen did not give out
the amount of the contracts but stated
that they aggregate several hundred thou.
sand barrels.
~
There has been lull in the coming in of
gushers for two or three days, but several
are in the expecting stage now. The num-
Der of rev wells being started does not
seem to Oe decreasing, either, One firm.
that of Il. /. Cox a Co., Is just starting
eight wells, and several other new ones
have been started this week.
Following are the quotations on the Beau
mont oil exchange;