The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-10
THE CLAIM COMPROMISED
The Higgins Company Gets from I'm
der the Snow Receiyership.
MEETING OF THE OIL EXCHANGE TONIGHT
Assessments Have Been Fixed on Pipe
Lines by the Commissioners Court.
investigation of Oil Companies.

defendants In the big veatch league suit
over Spindle Top was closed today when
the Higgins Oil and Fuel company ordered
pala $4,000 In full settlement of the claim
me Higgins company owns 2Th acres OF
! land on the hill altogether ANA pnrt OF II
| Is under the Haywood lease but the set
! tlement of this claim clears their title
e9ttelS ana places them out Of the domain
/ OF the receivership or Mr.. rallaferro anu
! clears up what was a most annoying prcb.
| lem Tor them. 1t Will be remembered that
me Hogg-Swayne syndicate cleared up their
title III this respect by the payment of
! $4,000 which placed them where thev
could sell their lands without further in.
| reference.
Tomorrow night there Will be meeting
of the members of the oil exchange and
board of trade for the purpose Of acting
upon the request of certain broker mem.
bers for the wiping ont of the assessment
Of s5.25 placed against the active mem
bers for each month by the exchange The
brokcrs do not believe that they should
be made to stand this amount or so much
OF ana are complaining. Other members
contend that the brokers are the ones who
make money out of the exchange and
should therefore help foot the bills
- lhe part OF the meeting that interests
beaumont most Is that certain action will
be taken for the lettering OF the board of
trade feature. There Is no denying the
fact that at present the board OF trade
feature is the most Important and Is doing
a wonderful amount OF good for the citv
Several influential and prominent business
men nave been asked specially 10 attend
the meeting.
IRA knsolvlng, the contractor, has Just
returned from Corsicana, where he has
spent several days. He states that the
only drilling being done there is on the
Beaton lease; magnificent gas well, with
strong flow. was struck there n few days
since. He says the city is going ahead
right along regardless Of he dizziness in
drilling.
Secretary Childress spent last night at
Port Arthur ard states that he had
pleasant chat with the people there about
the channel proposition. Several of them
stated that though they we're opposed to
the Neches river canal they would prefer
to see Il 90 in front OF the city rather
than behind on account of the protection
1t might possibly afford.
~ +
Colonel Ed McCarty Of New York, former.
ly of Beaumont, came to town yesterday.
He says he came here to see how busy the
Oil City is and how much more stock they
have to sell IN good companies. lie is Of
tho opinion that New York city will take
all the good oil stock that can be handled,
but the New Workers have been biting Ut
all sorts of schemes sprung by the North
ern sharpers. He says that the worst
feature of the swindling scheme is that
nine times in ten the people who are swim
died think that they have been duped by
beaumont or at any rate Texas man
when in reality the man who has done the
work is, In almost every case a New
Yorker to the core.
~
Bradley Garner has filed suit against |
the Lone Star and Crescent Oil company
for $3.50 damages alleging that the tanks
near his place and other work of the com
pauy renders 1t unfit for pleasant habita- !
ton. Mr.. Garner lives at Sabine Pass.
~
The county commissioners court has as
sessed pipe line Of four inches at $500 per |
mile; six inches at 5000 per mile; eight |
inches at $500 per mile. Tanks have been |
assessed at $1,000 for $4,000 barrels and |
$1,000 for $500 barrels,
49,
Prof. j. H. Tomlin of ShelByville, Ind, |
is In Beaumont today looking into various
oil companies and their standing and pros
poets. The STOCKHOLDERS who have pur-
in various localities in the North seem to /
have a way Of clubbing together and send /
Ing a representative here TO whether /
or not the particular company In which |
they have invested Is worthy and well |
qualified or has made suitable proficiency |
in the first stages Of lis ite-and II not, |
why not. In ore case Prof, Tomlin was
well pleased. 1t seems that his first mis-
sion was to look after the Missouri, Kan
sus and Texas oil company properly and
he has been pleased. de managed to get |
through with that inspection in a prompt |
and satisfactory manner but he started into
several others as sort of side line and
was not so fortunate. One of the compa-
MES was among the first organized; he
asked about II and the answers were not at
all pleasing though ii must be said here
that 1t was hardly the fault of the man
agement of the company In question. Inc
trouble was that the company bought lands
when the prices Of lands everywhere III
Jefferson county were high They bought
land otl the hill and 1t was of course dry
aud tie values went tumb,ng TO practically (
nothing, They then did the Uest they
could and bought a thirty-second of I'm
acre ON the hill and gave another company
a half interest IN the vel for Or. drilling u,
The same time all this trouble has made
returns to the stockholders unsatisfactory
and Professor Tomlln can hot make as nice
a report as he would like TO make Another
company is entirely unknown here. II las
no standing and no property stands In its
name at the court house.
~
Mr.. George Rowan left tonight for New
York city. He has been here several days
and is interested with the Hogg swayne
people in some manner.
very important deal was on here today
between some oil men and some land own
crs, but they will give out nothing OF the
particulars.
Edwin II. Mower, the big zinc man,
showed up here this morning and has been
getting the field notes to his property
stralghtened oft. as has been stated al:
ready was the object of his trip. Some OF
the newspapers had him here prematurely
and this morning was the first time he
was seen.
The call on the exchange this morning
was somewhat better than yesterday. Hig-
Gins sold one share at 500. but the asked
SrIce ran back 10 S75 In an instant and
The lone share was gobbled up with several
nibbles for Il before the catching. The fol-
loving are the transactions;
GaId Eagle, 1000 shares at loo,
X and T. 5000 shares az 10c.
Anglo. 5000 shares at 21sc.
Continental National, 1900 shares at
Zoe. a.
Gcrman-A 4 merican. loo shares at i0c
beaumont on and Mineral 1000 shares