The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-06-06
IM DEMAND Is GROWING.
Manager Wallis Believes that The Ont.
look is Of the Brightest.
5. P. IS TO BUILD MORE BIG TANKS
They Are to Be Filled With Oil 70, ~.
Use OF the Road-standard Steamer
Is Expected Today.

beaumont Texas, June 5-Gcneral Man.
"ser - L. wallis today stated to The Post
correspondent mat he now regards the
SITUATION as the brightest it has ever been
lor the oil hells OF beaumont According
10 ms views. the demand Is growing strong.
er daily and prices are lookiDg up 10 way
that can mean nothing but good Tor IN,
safely managed aud conservative companl, IS
that have taken more pains TO store tnIr
oil and get ready for Just such an oppor
UNITY. lie believes thai the spe,ation OF
the fennerics now unuer COM. "a. con
structlon VIII result In heavier demand
anu more consumption, and that means n
ueitct price Tor the product lie tanks
that the companies that realty mean busi.
moss are showing more desire to get mart
OF thelr Income reinVeSted in tanNage an
shlpplhg facilities than Ia pas Ing div dends
lof STOCK boosting schemes. lie A, DAN,
RECEIVING letters from the rice pcopl ~
Louisiana stating that they want I'll aud
the people would be surprised to know how
muyh ui Il demand is coming Tor iucl p.l
win "hlch to pump water for the RE
canals Ihey are delighted with the new
fuel and would not have coal or wood back
Tor any thing now that they are beginning
70 try oil. It Is cleaner, safer and moo
heating than the former methods Tor max.
ing steam, and all Of this counts up.
~
The Pennman Steel and Iron Tank com.
| pany has closed contract with the Solth.
ern Pacific for two more 10,00O-barrel tanks
to be erected at Gladys City for the pur.
pose of keeping a sort of supply ON hand
| for the loading Of its cars. These are for
| the company's own use 1t Will be rem IN
| bered that The Post called attention to the
method of loading used by the South IN
Pacific and stated that the cars were loaded
| by the direct pressure of the wells into los
tank cars without agitation of any char
acter These new tanks will now he
loaded In this mannep and held as sort
| Of reserve fund for the company. Inc
| Pennman company Is very anxious to get
the Beaumont plant started bit has eN-
| tended the time to July Is and homes 10 get
everything going by then They are doing
everything possible to keep going I'm Chi1a!o
until that time, but are dropping behind
slowly and steadily.
The Southern Pacific shipments are still
| holding up in manner that is gratifying
! see big shipments. The number OF cars
shipped yesterday by that line was 143.
~ =
! Mr.. o. B. Greeves Of the Lone Star and
| Crescent Oil company informed The L-19t
correspondent that the steamer Atlas and
| the barge 81 are expected in tomorrow
| morning to take out cargo from dis COM
pany for the standard OIL company con
! sisting of 10000 barrels Of Beaumont crude
/ oil. II Will 90 to Philadelphia or New York,
| the destination not being known positively.
/ These vessels are making regular trips te-
| tween the two ports and will be In the
service all through the year,
The constant announcements OF the va
rlous companies to tho effect that they are
soon going to or have already let contracts
for earthen taakage has become rather
monotonous, but 1t shows the tendency OF
! the field: It is confidently predicted by well
! Informed oil men that within two years
I more 50,0OO,O00 barrels of oil will be stored
/ above ground from spindle Top Ii Is
( practically all located in Jefferson county
/ and there seems to be a great clamor for
oil tankage lands all over the county where
there is railroad In reach. There is now
| under contract for Immediate construction
Mt least 100000 barrels of earthen tank
age.
The drift of discussion here today has
| been TO the effect that the coming OF the
! big wire ana steel concern means positivelI
! the deepening of a channel 10 the mouths
! of the Neches and Sabine rivers.
49,
The Beaumont Gas company has a force
of more than fifty men at work laying the
pipe through the city. and the work Is
now more than half completed, and Beau
| mont will soon have that smelling tuel ana
light. 1t is looked forward to by the ctl-
zens here as a great luxury and they Will
see its introduction with no little satisfac'
ton. 1t is practically an all home concern
and that makes the coming of 1t the more
interesting.
r ~
Dizziness was manifest on the exchange
again today, but the brokers look for re-
newed life next week, thinking - there
will be certain developments that VIII
make stocks OF all classes tend upward
The transactions today ran something more
than 65, 600 shares, and nine different stocks
were dealt in. The following were tue
| sales: ,-t
National Oil and Pipe Line, 100 shares AT
lie.
Independence. 1900 shares ut &c.
Lucky Dime, 100 shares at t. 49,
Beaumont Oil and Mineral, $500 snates
at 7c.
Consolidated National. 300 shares at lOc
Dividend, 23,000 shares at ~
oil +. o. b. Gladys: an