Los Angeles herald., 1909-10-14
DlSCREDITS STORY
THAT STANDARD
MAY GET GUSHERS
OIL MAN PICKS BAKER AS
LOGICAL MAN
Silver Tip Well in coalinga Field is
One of Great Gushers-Made
Fortunes for Poor
Men

A story is going the rounds of oil
men OF stupendous deal in the Goa
linga field, which is said to take in
such big wells as the Silver Tip, Lu-
cile, the Amy and Peerless wells of
John NJ. Wright and the properties of
the Monte Cristo company. The name
of the Standard Oil is most frequently
mentioned in connection with the deal,
and the opinion has gained ground in
some quarters that the octopus is to
control the big production of these
wells.
A prominent and we'll posted oil man,
who has been in the game since the
first barrel was produced in the big
fields of the state, declares that there
is no possibility of the Standard Sc
curing these wells and suggests that
if there is such a deal pending the
likely and logical purchaser would be
found in the person of John Baker and
his associates.
In support of this opinion he points
out that Baker ever since he quit his
position as sales manager for the
Union Oil company, has sought to be-
come a factor in the oil business and
offered to market the output of the
Independent producers.
Silver Tip Is Big Well
The Silver Tip enjoys the distinction
of being one of the big gushers of the
state and promises to eclipse the rec
ord of the Palmer we'll Of the Santa
Maria field, its nearest competitor.
The well was brought in on or about
September 23 and started off with a
flow of $4,000 to 10000 barrels day.
The well was flowing through an open
hole and was soon choked off by the
sand. 1t is now opened up and under
control and is flowing about 2500 bar
rels daily.
Both the Silver Tip and the Lucille
were drilled by q. L. Phelps, whose
bank account has been swelled to-
great proportions by his substantial in
terests in the companies which own the
two big gushers of the Coalinga field
Coalinga has seen some big wells
come in, but has had no such spec
tacular performer as the Silver Tip
Thirty days before the monster res
ervoir of oil was tapped, just as the
oil sands were reached, there was a
terrific explosion of gas, which threw
the tools high in the air and destroyed
the derrick,
Brought Poor Men Fortunes
The Silver Tip, as we'll as the Lu-
cile, brought fortunes to the door of
poor men-clerks, stenographers and
SaIaried men employed In the oil neldS
And it also brought a handsome re-
turn on the investments of Los An
geles men. One of these, Captain J.
F. Lucey, a large dealer in oil sup
plies, took some of the stock at par to
help the game along and because he
had confidence in the men at the head
of the Silver Tip Oil company, espe-
cially 2. L. Phelps, vice president and
manager, the man who selected the
ground and drilled the well. The in
vestment has more than doubled since.
The Silver Tip is practically a Goa
linga company and promises to surpass
the best of them in production and
dividend paying. W. r. Guyberson
former manager of the Bunting iron
works and now manager for the Brit
ish Oil Corporation. Ltd, is president
of the company; q. L. Phelps, vice
president, and Claire Anger, a stenog-
rapher of the Bunting iron works. is
secretary and director. H. C. Kerr,
cashier of the Coalinga bank, is also
a stockholder and director in the com
pany.
The Silver Tip has already enough
oil stored in immense reservoirs to
pay its cost, and has made tentative
arrangements with the Independent to
market its product. 1t is quite safe to
say that dividends will soon be dis
bursed to its stockholders.