The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-02-22
BIG TRANSFER OF STOCK.
Patrick Calhoun of New York Acquir-
ed a Block of Higgins,
MEN AND CAPITALISTS
Are at Beaumont in Large Numbers Just
Now--Consumere Buying Their
Own Oil Wells.
RAILROAD MEN AND CAPITALS

beaumont Texas, February 2t.-Thc
transfer Of large amount Of the Higgins
uli and Fuel compauys stock to Patrick
calhoun Of New York. mention Of which
was made some days ago, has been made
and the money has been paid over 10 the
Higgins company. Tho amount Of stock ac-
CURED by Sir. Calhoun is NOT deaulteIy
known. but he and his associates are said
70 have bought n controlling interest In the
company. The company is capitalized at
100000.
The report from sherman that number
Of fuel users there and al neighborlng
towns have raised a common fund and
honSht an oil well in order tbat they may
not feel The effects of a possible domina-
ton Of this oil held by the Standard OIL
company, is In line with ,he action OF other
ldtl users in this respect. IN several %.
csiitleS users Of fuel have gotten together
and purchased guShor land or Il wei, in
Jehuing 10 furnish their own shipping IA
SihLes and thus escape what NIGH, happen
Y me Standard should get control of the
iitld. There Is less fear now however,
mat The STANDARD will he able to control
me entire held. even 1t 1t should attempt
IT, ior the number OF companies and inh.
vsduals owning spindle Top land is so large
that II would be next to impossible for Jlle
cohcSin to acquire all OF 1t. IN fac, TO
company would have 40 do, would require
an expenditure Of SlUO0OO,UU0 or m re, and
then the company purchasing II would have
no assurance that other eusheIs viii not
De opened In Texas or Louisiana.
~
The Drummond Oil company has a new
gusaer In the Keith WI ard tract. 1t came
in at a dep,h OF 800 feet, spuuung some
Sc5teldag, but MT Developing Into a ugu4a-
uon gus4er until today.
~
The Drummers on company and five
other companies which have associated
themselves together for the purpose OF Sc
curing racidl,s iOr getting their OIL to may
ket have Just competed a loading II, X.
The rack s situated Just north Uf GlIdys
anu nltten cars can be loaded at one time
~
The presence In Beaumont, for the past
two or three days. of an unusual number
OF prominent railroad men and capitalists
anu their careful! surveys OF the oil neds
has started food oil speculation as to wpat
is Planned b. them. There is muCh guess
Ing as TO whether there Is not some Dig
traffic deal on hand aud the general i'm.
preston Is that concerted effort will he
mace 10 increase the shipping facilities at
spindle Top. lne care VIA which tue
held has been examined by the railrond
men indicates in The opinion of many Beau
mont people, tnat a material Increase or
the trackage facldties is being discussed
Among the railroad men aud capitalists
who are here, OF Who have been here with
IN the past tory eight nous, are: Co., 81
). r. 3. Morse, passenger traffic manager
Of the Southern Pacihc; w. +. Beers OF
Galveston, Frank H. Proctor OF Boston,
Albert ". Moss Of Houston, j. G.. Fry OF
Dallas, Southwestern freight agent; ). I.
Mclaughlin of Cincinnati, general freight
n n AfpmnhiG
Southern agent, all Of the Baltimore aud
Ohio Southwestern; I. II. Noonan OF Gin
ciLnati, general freight manager o. INC
Continental line and the Central States
Dispatch; General Manager W. c. Nixon oil
the Gulf, Colorado aud santa Fe, who has
been here for several days In close consulta-
ton with superintendent Maxson, and Vice
President and General Manager j. A. Ed
son of the Kansas City Southern, who Is
here In his private car.
~
Major Il. NJ. Ernst, vice president Of the
Southern oil company. declares that there
are too many oil wells on Spindle Top and
In Texas generally. and that therefore mis-
company will not contract for wells In the
proven territory yet.
We may contract for wells iu undevelop-
ed territory later on" he declares but
Rod has been passed and the oil business
IL In the hands Of professional oil mon.
When this becomes the condition the oil
business viii then be really great busl-
ness.
1T strikes me that the very best business
rules are not in force just now. The well
owners and we'll managers cheaper the
value of their product by declaring It's in-
cxhaustiblity They practically announce
that they have more of the goods that they
want to sell than the country can absorb.
Spindle Top. as 1t stands today, Is the
greatest oil field in the world, and II seems
TO me that 1t Is n mistake 10 cheaper the
value Of the product by dwelling upon IT'S
superabundance,"
]. d. Cameron, trustee, has sold to the
Penny on company for $1,000 and other
considerations piece of ground 15S15 feet,
and a half interest in the oil well on the
land which is In block 49,
Isaac Garrison and wife have sold 20 the
Higgins OIL and Fuel company tract of
tweuty-four acres in the Bullock surrey
for $500 with the understanding that When
"a tinrrisonS wish to sell their home
stead that the Higgins company Will have
the first chance to make the purchase.
! The Young Ladies' on company has sold
Of an acre in block SO, together with an
interest In the well thereon.
l. d. Cameron has sold to the Penny Oh
company for $500 md other considerations
81 Of an acre IN block 80, together with
contracts with 4. l.. Cox for the drilling OF
two wells on the ground,
Following are the quotations on the
Beaumont oil exchange:
LISTED STOCKS.
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