The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1910-07-01
CALIFORNIA on.


The great interest that Honolulu in
vestors are taking in various oil COM
panies being Hoated or which are now
operating in the various Californian oil
fields in deserving of great deal OF
notice. Oil has made more rich men
in California during the last few years
than almost any other industry but the
very success experienced in this field
Of industrial investment has reacted
against it. In other words this has be-
come fruitful field for wildcat stock
selling concerns that unfortunately
greatly outnumber the proved or par
TALLY proved bona fde oil investments.
There can be no assurance that an oil
well with be successful. 1t may be sunk
fifty feet from a successful well and
prove to be dry, or it may venture into
n new field and result in great flows.
Announcement reaches this Office that
a great number of shares of the Jewell
and Ventura oil companies have been
sold here through the local branch of
the Lincoln Mortgage & Loan Company.
Comment on this stock is difficult as
there is no information supplied re.
garding in which field the companies
are operating. Judging from the name
of the latter, it is situated in Ventura
County which boast of but a few small
fields, situated, for the most part, in
the Sespe mountains. Nearly all wells
in this district tap oil and make a
! profitable but not sensational showing.
No great depth of drilling is required
but only four to ten barrels a day is
the average production. This is pay
ing well hut it is not sensationally so.
Stock of the Section Six Oil Com
pany is also on sale in Honolulu. The
head of this company is H. B. Guthrie,
Los Angeles oil man who is engaged
in extensive operations and who has
generally made good to all the sub.
scriIbers of the stock he has offered.
The Section Six is a developing com
pany, Guthries' own capital sinking
successful wells on its property before
other capital was called in. Informa
ton regarding the present outlook If
| the company is not at hand.
The following is taken from inform
alton supplied this column during the
week: Zone of the greatest and most
advantageous features of the California
industry is that it is largely in the
hands of the producers themselves. II
goes direct from the producer to the
consumer and it does not pass through
any refining process, therefore the
Standard Oil Company or any other
monopoly is helpless to control them. >
This statement can be modified
While the industry is engaged in ex
tensively by independent producers, il
is not controlled by them. The Stand
ard, Union and Associated oil com
panies control the pipe lines, and tn,
latter, which is conceded to be Harri
man corporation, controls the railroad
rolling stock, and therefore these tire,
companies, by controlling the trans
lportation facilities, control the indus
try. 1t is true, however, that the indie
) pendents are very strong, and it nigh
) be mentioned that II. B. Guthrie is a
their head. A threat of the Standart
Oil Company to force their prices dow
; resulted in combine of independent
} strong enough to build their own pip
lines if they wished, and while this pip
r line was never constructed, it has aete
( as club over the STANDARD. Therefor
I good prices are general.
: California oil is n good investment
and il local money desires foreign 81
8 curities it can do no better than
|. take oil stock, but extreme caution
:, advised, and to the inexperienced /
a oil matters It sometimes proves dan
n garouR