The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-16
ANOTHER S. P. OIL RUMOR
SAID TO HAVE PURCHASED HOOKS
INTERESTS AT SARATOGA.
In the Near Future to Connect the Field
With the Road-Hey~ood Company
Invests in the Sour Lake Field.

Beaumont, Texas, November 15Lrhe Post
correspondent has II on reliable authority
that the Saratoga neld is being sought for
by the Southern Pacific. This much can
be stated as an actual fact without any fear
of contradiction. There is absolutely moth
ing questionable about It. IN addition to
this, The Post correspondent has informa-
tion which leads TO considerably more In
formation, but which may or may not be
absolutely correct, but with the knowledge
that the deal is really on 1t is more than
likely that Il also is true. This informa-
ton Is that the Hooks interests at Sara
toga have been purchased by the Southern
Pacific for S25o.O0o. 1t is well known In
oil circles that the Hooks property Is from
the very cream of the Saratoga held and
Il Is property that could hardly be dupll-
Gated for such price in any other section.
1t will be remembered that the Southern
Pacific only a short time ago had the char
ter by which 1t expected to build to Sour
Lake extended for distance OF nfty miles.
That was simply for the purpose OF getting
to Saratoga. II the road has to build TO
Saratoga from its present lines 1t would
Of course be cheaper to go to Saratoga
from the Sabine division, but as they are
under some obligations to build to Sour
Lake anyhow, they win simply run that
line on to Saratoga and therefore save In
the new deal.
The Hooks property is we'll known in con-
nection with the Saratoga field, they being
pioneer citizens OF Southeast Texas as well
as pioneers in the development Of that field
for oil The Messrs. Hooks are from the
most prominent and reliable people In Har-
din county. and while this information has
not come directly from them yet It has
come from a source which can not be ques-
toned. This deal would give an impetus
to the oil industry of this entire section
and not alone Saratoga. II is also signlh.
cant on account OF the claims of several
chemists that the Saratoga OIL is the most
valuable ever found in the South, and the
use OF It may develop in something more
than a fuel oil proposition as soon as the
big trunk line gets It In a well developed
stage. The intimacy OF some OF the South
ern Pacific stockholders with those Of the
Standard Is also furnishing the oil men
here with food for thought that is palatable
to say the least Of It.
~
The announcement Is made today that the
Haywood OH company has purchased Ave
acres Of the Sour Lake territory and will
proceed to develop 1t at once, They have
made contracts for the drilling Of two wells
Immediately and will continue with the
development until they can get well started
with the marketing Of the OIL They have
purchased proven territory and are running
no risks as to the result OF their drilling.
This IL simply in line with the idea OF
Dewey Haywood when he frst came 10
Beaumont and said that he was going 10
buy Just as close to that Lucas gusher as
he could possibly get. The result was that
he and bis brothers are now mlllionares
and the sound business judgment OF prae-
tically youngster In the oil business put
to route the sagacity. OF the older heads
who said they would buy further on Spin
die Top, where II was cheaper.
~
The PalestIne-Beaumont Oh and Develop
ment company had strange episode at its
power plant on the hill. man came into
the plant and little heed was paid 10 him
until he made q jump for the big lily Wheel
He struck II squarely, Instead OF his body
going between the spokes, and the blow
threw him back TO the ground. He was
again and the second time failed 10 get
his body into the fpokes, which would have
meant instant death to him. By this time
the men reached him and he could not make
the third attempt, though he struggled
hard TO get away again. He was brought
on to the city and laced In the custody Of
sheriff Landry.
The meeting OF the oil exchange tonight
did not result In the election or a secre-
tary. IL was postponed 10 Monday, Novem-
Der "a.