Arizona silver belt., 1904-06-09

est known oil fields, from geological
 standpoint, In the United States, anC
 because of this age both carry paraiiint
 oil. The next oldest operated fields
 are those of West Virginia, which lie
 in the carboniferous or coal .bearir 2 system, the geological period follow ing the Devonian period. The next oldest operated fields are those oi
 North Carolina, belonging to the tri ass'c system, the third geological pc. riod following the Devonian. The next oldest operated fields, or those of Colorado and neighboring states, which belong to the cretaceous system, the fourth geological reriod following the Devonian. The California fields belong generally to the tertiary age or system, and therefore, are five geolog- ical periods, or ages, younger than are the Blackberry and Pennsylvania fields.
 In our judgement, the only discour- aging problem confronting the Par. | affln Oil company is a financial one and this is not so serious, as it might be, now that 1t is almost absolutely cer- tain our oil field Is not only genuine one, but will be productive of the highest grade paratliue oil which has from six to eight times the market value of oils with an aspnaltum base.
 The company has raised its capital by the sale Of stock to citizens of Gila and Pinal counties. It has not under taken Notation of stock outside Of these counties. In these counties it has raised over S20,000, with which machinery has been rchased and operating expenses have been met up to date. It is out of debt. But the pres ent inflow of water at the well must be ceased outn before it will be safe to drill further. If they should break into another oil zone before this water is ceased out" it would ruin the well.
 
 To lower the casing it would be necess- ary to add to their present appliances an under-reamer, which cos $200 and must add to this the expease uf the drilling crew while they are waiting for the reamer to come, also the eX- pense of roaming and lowering the casing after the tools arrives. They have only enough cash on hand to pay operating expenses up t) the lat of June. With these adverse circumstan- ces facing them it is difficult, to place stock with local subscribers, LoLce if operations should be continued now the company would be compelled to run into debt, thing that should be avoided, by all means. Uuder these conditions the only thing to do Was tO su, pend operations till the treasury could be repienished, As one of the directors of the company, We strongly advised this course and the other di- rectors acquisced. ID the mean time a reliable watchman will be placed in charge of the property while the di- rectors will devote their time in deyis- ing ways and means for raising anoth- CT operating fund. It is easier to keep out of debt than it is to get out of debt and many an enterprise that could have been made success by little patient waiting has been wrecked by the management running It into debt and taking chances on the cred itors waiting patiently for their mon- ey. We think the "shut down" at the Parafline company well will be short, but operations will not be re- sumed till we shall have raised Sufii- clent funds tO continue the well to a depth of at least 2jO0 feet.