The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-05-03
Kansas Paper Has Warned Beaumont
Of His Coming.
THE LAND OFF The HILL IS VALUABLE
For Tsnksoe Purposes and Its Value is
Holding Up WeII-one New Gusher
Brought In.


The beaumont correspondent Of news
paper published In Kansas City received
the following telegram from his paper last
night:
Two men should arrive In Beau
mont tomorrow One OF them claims
to own all the land on spindle rop hill.
One of them is a lawyer and the other
IS lame See them IL possible We do
not know names. OH people should
know details,
The correspondent began his search early
this morning for lame man and law
yer but not knowing which was lame and
which was the lawyer. he was handicapped.
lie found lame man on Pearl street.
hut when asked II he owned Spindle Top,
the man with the impeachment In his walk
pl,uued not guilty, stating that he would
be more than happy II he could even estab.
iish clear title TO a ham sandwich. An
other man with a game leg was found later
In the day, but he was also ready to prove
an abb At o'clock this afternoon the
correspondent had not found the owner Of
Spindle Top, though he is very anxious 10
deliver the goods to the rightful owner.
~
Strong evidence Of the permanency of
Spindle Top and the belief by the old-tlme
oil men that it is a good thing Is shown
In the fact that acreage to the east north.
east and north Of the proven field IS rap
IDLY enhancing In value. This is due to
the fact that tankage property has become
SO scarce as TO reach a value In some cases
OF SlbCO per acre when Il lies In a fairly
desirable position and is not more than n
mile or mile and half from the hill Ii
has been selling up to short time ago
at as low as 5000 per acre. hat the de-
mand recently has been strong enough 10
run 1t up to the above figures in many
cases OF course. the fact thar the terri
tory In these directions has never been
proven 10y wells at a very great dcpth
makes the chance for oil worth Something
put the Intrinsic value comes from the
iact that Il Is near shipping facilities near
the hil and also near Beaumont. These
Things make the price hold up, but the
n q very short time. There are already
loading racks and tanks ia these direct ioi =
from the hill and there win soon be more
II the acreage can be had.
~
The prices of wells on Spindle Top from
the contractors standpoint furnish some
peculiar conditions. The drillers are asking
anywhere from $4,000 to $1,000 for the wells
and it would seem at first thought that the
prices would not vary SO much and that
the htmber of contractors would tend to
regulate IL better. but the difference is as.
cnbcd to another reason. II is stated that
the difference in the substance through
which the drills have to pass Ia certain ter
rtory is such as to make he boring of
wei in one place more costly to the con-
tractor than at another. Another peculiar
phase OF the situation Is that whore they
ASK the highest price is where the wells
are shalluwest. There arc some PARTS Of
the hill where oil is found at $50 feet or
but little more, and in other places the oil
sands are found at depth Of nearly 1900
feet. 1t Is fact that where the oil is
struck . 900 feet the drillcrS wan; more for
the work than az the greater depth. assign
ing the reason for ii rs above On the deep
wells that have been bored on the hill there
seems "a be little, If any. resistance to the
lrll ana they COLD 90 on indefinitely %
the money was plentiful Ihis has haen
the experience Of The owners Of n well that
I Is 2i00 feet deep now and was stopped for
lack of funds to keep up the work.
~
There Is one company here that is very
anxious to turn over to anybody that will
take Il deep well that Is more than 1000
feet deep and 20 that depth a good clean
SIX inch hole Is ready Tor the driller 10 90
on down. The company feels that enough
money has been spent by .tsclf on the work
and that some other stock company or col
lection of people interested in the finishing
of deep well should take hold and carry
OH the work they nave begun. The ma
chincry fer drilling is strong enough to do
this end can be had by any one willing 20
undertake the work, ana IL oil Is found OF
course the new people VIII get the benefit
OF II. beaumont as a city, Is very much
Interested In the finding 0t a wen 0u uI
Spindle Top and the moment such report
! comes In the bulge In prices is expected
/ Just m was the case with the coming in
/ Of the Lucas well. except that now the
! people here would know that there Is oil
/ In the direction OF the new well and would
/ feel that the field was not confined to a small
| acreage. This fact alone may induce some
/ Of the property owners around the deep
! well referred to to take up the matter and
send the drill on down.
~
| The activity that is going on al Sour Lake
! Is causing considerable interest here. There
are now drilling there two more wells that
! should come in within few days more ami
! the Guffey Petroleum company Is getting
ready to construct a 5000 barrel tank GU
/ the ground in Sour Lake II is also state
! that they have contracted with the Atlantic
ana Pacific people for a big lot of Sour
/ clGc No. l is reported by Mr.. Holt, who
I lives there as being stronger with each
/ turning of the gate valve.
\ 4 4
The j. NJ Guffey Petroleum company has
| leased the entire NTH floor OF the V. Wicss
building This was published some time
ago. but the nearncss Of the completion Of
! ll,e big building is causing them 10 make
I plans for its occupancy. lhey state that
/ their force here VIII not be increased t.
any great extent. The Port Arthur force
will remain intact.
The Zenith on company's well on bloch
! %, Cleveland tract. has been accepted BY
Mr., Walter c. Jones and Noah Allen foi
the stockholders.
Messrs. r.. L. Cox have just brought in 9
well on block %, Cleveland tract, for tbs
Sterling OIL company. 1t is regulation
/ spouter.
There is more discussion in oil circles
about the probability Of certain oil LEASED
being broken than anything else.
~
Perhaps the most tagging and unlnterest