The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-26
DULLNESS IN OIL CIRCLES.
Rain at Beaumont Resulted in Lack
Of Activity.
SPECULATION As TO THE SNOW CASE
What Operators Thought Before They
Learned Trial Had Been Postponed.
Garnishment Proceedings.

Beaumont Texas. July 25.--with a duh.
drizziing rain coming down In stupefying
sort OF style there was little or nothing
doing In oil circles today. Wherever the
OIL men could be found they were In the
most cases figuring on the result OF the
Snow case at sherman before Judge Bry.
ant. Messrs, W. r. II. McTaddln, Under.
wood Nazro and others came In from
sherman this morning ana were willing
TO wager that the receiver would nor he
made absolute. They simply Judged this,
however, from remarks that Judge Bryant
made. and admitted that they had no actual
reasons upon which to base such CON
cluslon. They were taking the evidence
that was being admitted as their foun
dalton. The case Will have a far.rcaching
effect should the receiver be made abso
Lutte and be given the entire charge OF all
the property, and the companies here would
be more than likely TO settle at once.
~
Holland s. Rcavis returned this morning
from Anse La Butte. in Louisiana, and he
Is full Of enthusiasm over the prospects
in that field. believing that IL is strictly
gushcr territory and that It's production
will soon be something wonderful He
states, Furthermore. that the oil Is almost
exactly like the Spindle Ton oil. He also
nrc now working Is very much like that
here. and he thinks Il IL TO all intcnts
anu purposes second spindle Top. There
is no doubt but that good showing OF
oil has already been found and he expects
70 hear Of gusher In the next day or
two.
The Peoria Crude oil company held n
meeting yesterday and decided to put IN
a walking beam pumping outat They wiz
be actively on the market With their prod
net In very short time,
~
c. T. Bunch, the assistant secretary OF
the oil exchange and board of trade, re.
turned to the city this morning after nearly
week Of vacation aud Is again ready for
good hard work He will have more, now
that Mr., Childress Is leaving the exchange
and he came home earlier ON that nc
count.
Ed McCarty has departed again for New
York city, where he win take charge again
Of the New York branch Of Klmhall, Me
Carly Il co. BEFORE leaving he stated that
his advices from there were 10 the effect
that the stock market, SO FAR rs Beaumont
securities was concerned, was excellent.
~
The German.AmercHn oil company Is
building more settling tanks and Is nrrang
ing for new pipe lnc connections and
additional loading facilities, Tbs Is one OF
the companies that has persstently refused
to sell nt low hgure and Manager J. II
Bright states that they nre now getting
ready for 40 cent oil, which he confidently
expects In very short time,
~
The Beaumont National bank today sued
out a writ OF garnishment against the Man
haitian Oh company alleging that the hanr
believes that the Manhattan oil company
is indebted to the defendants In suit al
ready filed by the bank against c, B. For
ward ct nj. The petition alleges that Or
&. II. Forward ct al executed promissor!
note Tor $1,000 IN Aprll and that neithe
! principal nor Interest has been paid an'
| that the defendants In that suit have noth
| Ing upon which they can levy an at'ach
ment The garnlshment is therefore prayed
FOR ON the Manhattan. oil company.
~
The sales on the exchange went welt NJ
in volume today, the most notable Trims
being the selling of AngloAmericau at
cents This is something over 40 pei
cent increase In thirty days Following Il
list Of the sales:
! Gold Eagle, $4,000 shares at Zoe