The San Francisco call., 1910-11-26
Assessment Directory Comstock Mines
OIL STOCKS

An advance in Associated oil to S45 was the
only noteworthy change in the oil stocks yester-
day- The market continued dull.
The Los Angeles Herald says: fThe new sys-
tom of oil certificates is working we'll and solves
same time IT acts TO make production less attrac-
tive to new companies as long the amount of
oil in storage is being increased. New oil COM
pahies may JOIN the agency at any time II they
file application on first production, yet they are
at disadvantage as far as the older members
of the agency are concerned. While the older
members are getting pro rata payments on oil
previously delivered, the new companies will
only be adding their contributions to storage.
The agency storage Is acting as salutary check
the oil business. 1t equalzes light and heavy
deliveries and light and heavy production. 1t
tends ITO keep down production when accumula-
tion is threatened. and furnishes money to pro-
vide it when increased sales lessen the oil in
storage"
Ventura fields dropped slightly IN production
in October, the wells completed in September
ing the total yield of the district The yield for
October is estimated at close to $4,000 barrels,
as compared to 5000 barrels IN september
About half the output Is handled by the Union
oil company and the remainder is marketed by
miseellaneous concerns. A total OF 260 wells
are producing in Netura. and 20 shut down. prob
ably preparatory to abandonment. There are 81
wells drilling.
The United oil company. according to a re-
port received from Superintendent Seifert. has
Just brought in well No S on section 6. 1922.
North Midway. It entered the sand with 10 inch
casing, and expects to finish with one string of
casing at depth of about 920 feet. Seifert says
the oil appears TO be p degrees or better. The
OH from 40 showed a tendency 60 ShOol over
the derrick, and as the company not ready
for IT, and to eliminate waste. the drillers shut
of temporarily.
There practically no change in the out
put of the Whittier-Coyote district in October
compared with September. when the total
yield of the field was estimated at 100000 bar
rels. The Murphy oil company and the Central
oil company principal operators in this district
are maintaining their output by consistent and
successful development work The Murphy peo
pie are running two strings of tools and
deepening old we'll. The Central is working
civ c+r Of 4nrIe T,nG aII AOI1
ing. 1t has 81 wells under the pump Sixteen wells
are drilling and five o holes deepening in
this district. and one drilling well is suspended.
The field has total of 132 producing wells,
with two shut down.
Recently the Los Angeles consumers associa-
tion called for bids for the supply of 10000 bar
rels of oil per month. 1t appears that only two
companies were in position to guarantee the
steady supply of that amount of oil. Those COM
panles were the Union and the Associated. The
two companies seem TO have had an inkling of
the situation. for they accompanied their bids
with an intimation that if the consumers were
not willing to pay the specified price-9O cents
or thereabouts-the price might be advanced.
award of contract was made. 1t is understood
that the Consumers association is making every
effort to obtain oil al price considerably lower
than 30 cents:
The Summerland district. near Santa Barbara
famous the field where oil is pumped out of
month TO month. most of which is marketed to
fuel consumers in Santa Barbara and the re-
mainder used in road building. Summerland oil
Is very heavy. containing large percentage of
asphaltum. thus making it peculiarly well adapt
ed TO road making purposes. One hundred and
forty-hv wells are pumping an average of about
a barrel and half of oil day. There are no
wells drilling in Summerland.