Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1909-11-23
SIX ACRE OIL
COMPANY DRILLS
ON SECTION SIX
COALINGA INVESTORS BUY
TREASURY STOCK
S. A. Ginberson, Jr., Resigns as Man.
ager of Associated Transportation
Company Entire Town is
Watching Valley Well

The "Six Acre" Oil company is the
latest CoaIinCa company in the field
and is already erecting a rig. d. Nj.
Speed, secretary of the company, IS IN
Los Angeles and says that the Six
Acre will drill a tract of that size in
the famous section g. the ground adj
Joining the territory of the Marian and
lying between the Silver Tip and Blue
Moon. The company has sold the
greater part of its first Offering OIL
treasury stock $4,000 shares, at 5o
cents per share in Coalinga, which m
dicates the esteem in which its hold
fngs are held at home. I'VE consider
the Six Acre good for about three
wells" said Mr. Speed. "and because
of the location, close in with the big
producers of section 6, they should
be good ones. The companys stock is
considered a good investment by the
men who know"
r. C. Winkley of Coalinga, known in
the oil city as Ham and Eggs Wink
lev for q reason that will be given
to every one who goes on the eXcur-
sion, is president of the company, and
Mr.. Speed is secretary. The incorpora-
ton papers have just been issued and
the directors have not as yet been
named.
Mr.. Speed is also secretary of the
Amy and the Valley oil companies.
The Amy is now putting its we'll on the
pump and it should be good for 200
barrels. The Marian he pronounces
one of the best wells in section g. It
did not blow off, there being but a
small volume of gas in the well. but
just started in quietly at rate of 400
barrels every twenty-four hours. and
is proving to he a steady producer.
The success Of this well has stimulated
faith in the west side of section 6,
which suffered in reputation by fail
ures in drilling other wells.
The Valley well holds the interest of
Coalinga people just now from the
fact that it is in the outskirts of the
town. SHOULD this well come in a
good producer, the town will soon be
black with derricks, and every man
who owns a lot will have a rig in his
back yard" is the way Mr.. Speed ex-
presses it. He says that the Valley
has the oil, but in what quantity has
not yet been determined, because the
first attempt to cement the water off
failed. American cement was used,
which failed to set after a wait of two
weeks, and the company is now max
ing the second attempt with German
cement, which is said to be superior
for the purpose. The we'll is $500 feet
deep and filed to the top with water
will take but a short time to prove up
the property. The company is COM
posed of Fresno and Coalinga men and
w. II. Worsurck, jr., is president. The
work Of putting down the we'll was
done by the drillers, without advice Of
a superintendent, and Mr.. Speed says
that they are entitled to much credit
for the manner in which the we'll was
drilled.
Mr. Sneed reDor+s +bat c cuibar
son, jr., has resigned as general man
ager for the Associated Transportation
company, which handles the oil for the
Associated Oil company, in order 10
devote his entire attention to personal
affairs He has been succeeded by Mr..
Trumbull, formerly chief gauger for
the company.
Coalinga now has a population of
5000 and is growing rapidly, real estate
constantly enhancing in value There
is lively home market for Coalinga
stocks, but Mr.. Speed doubts the Wis
dom or starting a stock exchange at
the present time, especially without
direct wire communication with the
Los Angeles and San Francisco mar
kets. Asked why more Coalinga stocks
are not listed on the -.os Angeles ex-
change, Mr.. Speed gave it as his
opinion that if is because there is little
speculation in those securities and the
directors are Indifferent as to the list
ing of their stocks. He agreed with
the suggestion that it would add to
the attractiVeness of the stocks as an
investment, enabling investors to cash
in to better advantage when prompted
by either desire or necessity and ex-
pressed the hope that the visit of a
large number of brokers' from the local
exchange might lead TO some such
measures.