The age-herald., 1902-01-27
BIG COMPANY TO
 ENTER OL TRADE

Special to the Times-Democrat.
 New York.-Lewis Nixon. shipbuilder and temporary leader of rammany Hall, is to become a Texas oil mAgnate.
 With other prominent New Workers, capitalists and bankers, whose standing in the financial world Is pre-eminent, and who represent hundreds of millions of dollars, Mir. Nixon is about to organize in Texas corporation with a capital of $1o,OOO.OOO. which. they believe, will revo- lutionize the present conditions in the oil trade.
 It Is said on good authority that the big corporation, which will build great pipe lines from Beaumont to Fort Worth, Houston and New Orleans. will also own a large fleet of oil tank steamers to carry the products of its Texas "gushers'' to all parts of the world. That these ships will be built in MT. Nixon's yards there is little doubt. A
 J. T. Swayne of the Hogg-Swayne sym dicate and relative Of Gen. Wagner Swayne, who has been in New York for the last five months. arranging details for the incorporation of the company, said today that the report that Mir. Nixon would build the companys ships did not at present come under the corporations plans, as this matter had not been fully determined.
 Mir. Nixon was asked today about his connection wieh the new corporation. He said it was true such company had been formed; that he was interested In it. and that 1t would build pipe lines and ships for the transportation of it's pro- ducts from the oil fields. He would not say whether or not the company's ships would be built in his yard. The plans of the new corporation are as yet not com plete enough to give out the names of the capitalists who are associated with MT. Nixon in the enterprise, but 1t Is believed they will be made known at an early date None of the stock of the corporation will be for sale, and no bonds will be fioated, but will be kept in the hands of the pres ent packers of the company.
 The scheme of the enterprise Is this:
 oil pipe lines will be laid by the new corporation at cash outlay of s5,0OO, GOO from Beaumont Tex, to Houston, from Houston to Fort Worth, and probably a line will be built to New Orleans. These pipe lines will strike all the prin- cipal cities In the state of Texas, and will be from 800 to 750 miles in length. The pipe lines will also touch all the railroads of the state at as many points as pos- sible that the railroads mayfuse fuel oil instead of coal. sf | The lines will also touch all the large manufacturing and electric light plants, machine shops, water and gas works of the state. f7
 It is proposed by this enterprise to save S5 per cent to the Southern Pacific Rail- road in transportation, and an average of 50 per cent to the balance of the rail- road interests of Texas. It will, it is claimed, save to the manufacturing inter- ests of the state more than 50 per cent. The situation in Texas today is that the plants constructing oil tanks and cars for the use of the railroads are overrun.
 They cannot supply cars sufficiently fast for the transportation of oil to the public. Hence the importance of the im- mense pipe-laying plans of this new cor poration.
 Aside from the laying of these pipes the corporation has plans which are larger and more pregnant in scope. It proposes to own ships and barges to deliver oil in New York at a saving of thirty-three and one-third per cent to the manufacturing interests here. This Is in addition to the pipe lines, which, touching New Orleans, will reach this large port, and from whence oil will also be transported on water. | From this oil-shipping scheme the l greatest amount of money results is ex- pected by the corporation from Mexico | and South America, where coal Is very high, and where there are great openings | for fuel oil,