Daily Arizona silver belt., 1907-12-10
Well of Hot Springs Company Now Down 1 400 Feet, With Very Promising Prospects,
THE DRILL IS NOW PENE-
 TRATING THE RED STALE
Beaumont Oil Expert Says That a We'll Is Certain Within a Few Hundred Feet; Encour- aging Talk by Manager,

If the artesian belt south of Stafford is not the scene of great oil excitement within the next thirty days, every sign will fail.
 During the past ten days visitors from the Stafford country, familiar with conditions at the test well have been very optimistic in their utterances claiming that it was only question of time and depth when oil would be on countered and the fuel problem of this section of Arizona solved.
 l.. D. Morris, general manager, F. B. Grant in charge of the drilling opera tions of the Hot Springs Oil company which is prosecuting the we'll reached the city last night for the purpose of attending the meeting of the stoekhoid CTS, which will be held in room al the rear of Lyman Woods cafe tonight at clock. The object of the meet ing is to arrange for the prosecution of the work to a successful issue
 The we'll is now down ,483 feet and is cased with four-inch piping from tor to bottom. The drill is going down al the rate of about fifty feet per day. At l,200 feet the drill penetrated yellow Suhpo. u tuVH pdSScu lHlo DTOWn shale and lime rock and is now in gumbo, the probable capping for saud bed of oil or the rock that covers the vein.
 "The indications for the early discov. cry of oil in the we'll of the Hot Springs company could not be better, !" said MT. Grant last night. "The formation is the same that characterized all the big wells in the Beaumont fields and those in California, especially around Bakers field. l consider the Stafford well he finest prospect in the country at pres. ent> and am confident that oil will be encountered before the well reaches 2,000 feet"
 Mir. Grant is thoroughly familiar with the oil drilling business, having super. intended the sinking of a number of the most famous wells in Texas and Louisi. ana, and was only persuaded to con.c 10 Arizona and take charge of operations for the Hot Springs company after thoroughly examining the formation and general topography of the country. His opinion is that of an expert and is very significant just at this time.
 MT. Morris, who has always been SdnSulue OI ultimate success, but all ways conservative in his statements, is more optimistic today than ever before since operations were commenced. "There is no question in my mind but what we will strike oil before going down much further" said Mr. Morris last night. "We are equipped to go down $500 feet, but oil will be struck before we go much further down. think somewhere about 2,O00 feet. Nat urally we have felt the financial de- pression and money for the completion of the well is not at hand just at pres ent, but when the merits of the prospect are known there will be no trouble in getting the necessary money. It means fortune to any man who invests. '
 The shares of the company are still held at ten cents, which has been the prevailing price since operations were commenced Despite the fact that the stock is held by limited number of subscribers and there is strong senti- ment favorable to advancing the price, it has been decided to hold the shares at the old price for the present in the face of the very fattering outlook.