Durango semi-weekly herald., 1902-04-28

ing opened with most fiatterlng re-
suits. 1t has already been demon
strated that petroleum zones exist in
,he vicinity OF Boulder but the extent
of these zones Is as yet matter of
some conjecture. The Grand River
valley In the vincinity Of De Beuue
is being carefully ani Systematically
developed and the results so far OBJ.
tanned are most satisfactory.
In Archuleta county there are at
least six companies In active opera
tion, and while none of them have
reached the necessary depth. at least
one of these wells has struck oil IN
sufficient quantities to Justify the as
sertion that it is only a question of
time and further development before
The anticipated results are realized.
During the past winter some of
Durango's well known business men
organized company for the purpose
of developing the oil zones which
for years have been thought to exist
in the vincinity of this city Dur
ing last December and January the
eminent and well known geologist,
Mr.. r. H. De Wore spent upwards of
six weeks in making an examination
of the territory Which was subse.
quently acquired by this company.
1t is difficult for any one to read the
published report of Mr. De Vore with
ont being convinced Of the truth of
his assertions. and the evident sin
certainty of his statements carry
with them conviction ard leave the
Impression that the writer Is a master
of the subject treated Old timers.
some of them now residents of this
CITY. recall the time when this same
territory was examined by men of
long experience in the oil business
and was pronounced bv them "Oil
Lands" The writer has been in
formed that some twenty years ago
a company was orranized in Alamosa
10 develop these fields but the death
Of the promoter made IT impossible to
complete the details and this com
panv became a reminicence of the
past.
The development of petroleum land
is in truth new and important in
drstrv. The uses to which petroleum
can be applied are many. too many.
AZ least to he enumerated In an ar
ticle of this kind. We all know that
petroleum is in great demand for fuel
purposes. 1t is clean and easily
handled and is found far more eco
nomical than coal. It's by products
are valuable and have become in
despensible in the arts and sciences.
The profits derived from successful
we'll when told. seem quite too fabu-
lous for belief, vet 1t is a well known
fact that nothing paws like oil.
The Durango OIL company is
strictly local organization. It has
been most carefuf.ss- organized and is
otficered and controlled by business
men of recognized ability and unuues-
integrity. The president of
the company. Mr. F. R. Graham, was
among the first residents of this city
and his reputation as a straight and
upright business man is too well
known to require further comment.
The secretary. Mr. Frank Eldredge,
has been in South Western Colorado
over twenty-five years and enjoys an
o1viable reputation. These gentle
men are giving their time and atten-
tion to the affairs of this company
and their connection with it is
guarantee that the interests of the
shareholders win be honestly looked
after and carefully protected. This
owns and controls 900
acres of land which is In plain view
of the city. 1t has an ample work
ing capital and already has all of its
machinery and equipment on the
ground and in place and has started
it's first well.
The first issue of its treasury stock
has been offered for sale at 10c a
share, fully paid and non-assessable
and so far the sales have been entire
ly satisfactory to the management
The company will maintain this price
until May 18th, after which date the
price will be 12ikc share.
This company offers many advan-
tages to the investor, and 1t is GER
tain that few dollars invested now
will return profits that will be most
satisfactory. The Herald is convinc-
ed that this company is being con-
Quoted in careful manner and that
the small as well as the large share
holder, will receive their equal share
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