The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1903-09-11

field of Kansas will have flowing
oil WELL
The average daily production OF
all wells in this field is said to be
about forty barrels each, although
many wells have been struck that
produce from one hundred to three
hundred barrels daily.
When the wells are completed, each
is equipped with complete pumping
outfit and pipeline to convey the
oil to a centrally located field tank,
from which it is guaged out to the
Standard Oil Company.
The process of pumping the wells
is very interesting. The shafts are
iron tubes, five inches in diameter.
Into this, two inch tubing is low
cred almost to the bottom, 800 to
500 feet. The compressor supplies
the air, through valve near the SUR
face, sends it down the tube and un-
der the long heavy column of oil,
which it forces through the casing
into the tank. The wells are pumped
one at time and as rapidly as the
field men can go from one well to
another and turn on the air.
The expense in operating a fully
developed oil field is probably the
least in proportion to the business
done, of any industry known.
If the total expense were fgureo
on a very liberal basis, it would
amount to less than three cents a
barrel, leaving profit of over one
dollar on every barrel produced, even
at the present low price.
1t is a recognized fact and certain
ly beyond dispute that investments III
oil, when reasonably successful, are
the best there are. The returns are
greater, surer and longer in duration.
Though the Kansas field has now
been prospected practically but a
year, and but little part of it has
reached the point of active producing
and operation, many comfortable for
tunes have been made. In every in
stance the lucky man has been one
who invested few hundred on the
ground floor and took his chance with
the rest There are hundreds of cas-
es in the field today, where holding
with cash value of from ten to fifty
thousand dollars represents an orig
nal investment of from one to ten
hundred dollars. 1t is so remarkable |,
hat there have been very few losses.
The remarkable richness of the whole |
ield and the frequency of good
strikes soon places value on a COM
oany's holdings that makes every |
holder of large block of stock prec-
ion of one per cent a month is the
dividend on the entire capitaliza-
ion of one per cent amonth is the |
most conservative estimate placed on
/ company's prospects, and even that
S never figured on more than a small
part of the holdings. 1t will take
:wo or three years hard work yet for
he average company to fully develop
he proven part of its holdings and
hen with all its wells pumping it
should pay dividends from five 10
thirty per cent month, if not more.
The most remarkable dividend pay
ng case in this field was that told
If the Kansas & Texas Co. at Cha
1ute, last October. Their pumping
plant had not been installed, and
lone of their wells had been pumped,
,ut from the natural overflow of two
wells they accomplished oil enough !
Turing tina month to pay a dividend
If one per cent on the capitalization
IF inc n:llior dollars
The Kansas & Texas Co. and the
Neosho Valley Co., at Chanute, are
both paying monthly dividends, and
here are a dozen more companies
whose development has about reach
ID IT, point where they too can do
money will be pouring out to all parts
If the country in the form of divi-
lend checks. !