The San Francisco call., 1910-07-27
: Petroleum Volcano Sp0utS Near thC LaRcNcN
'ESPERANzA co.
MORTGAGESP PLANT
81, 100000 Secured From Mer-
camille Trust of San Franz
cisco to Further Plans

SAN LUIS OBISPO, July 2S.-The
Esperanza Consolidated oil company.
with offices in San Francisco. has filed
a document in the recorders office
whereby the company mortgages it's
holdings in this as we'll as in Santa
Barbara and Kern counties to the Mer-
camille trust company of San Francisco
for the sum of $500 900. The mort
gage is to run for 20 years al per
cent interest. The Esperanza intends
to develop its properties and to buy
other property and corporation shares.
The lands mortgaged in this county
are $40 acres in section IS. township
80 south. range % east, NJ. d. B. and
NJ; $40 acres in. section 16. township
IL north, range % west, S. B. B. and
NJ, and AS acres. consisting of frac-
tional section So. being the south half
and lots 1, .. 8. and 4, township >
north. range 26 west. S. B. B. and NJ.
besides 43O acres in Kern county and
several hundred acres in Santa Bar
bara county on what is known as the
Rancho Los Alamos.
These lands extend from the Tenn
plor range on the west side of the Elk
horn district and then to the Los Ala
mos section. The company is prepar-
ing to establish wells, pipe lines, etc,
besides arranging for the storage of
oil and for refining it, 1t marks an
other large oil concern in this section
of the state that intends to do business
on large scale. E. ]. de Saba of San
Francisco is the president of the COM
pany and John Barneson IS one of the
principals. The Elkhorn district is eX-
pected to develop intosa large oil dis
trict when the work of development
has been we'll started
WILL COMMENCE DRILLING
The news comes to this city that the
Cholame oil company, recently incor-
porated, will commence drilling in the
Cholame section of the county tomor-
row. They have a standard rig up and
everything is in readiness. the camp for
the men having been established. The
arrangements have been made for pro-
curing fuel oil from the Producers
transportation companys pipe line at
Cholam which has been tapped for
the purpose. Teams are busily engaged
in hauling casing and camp. supplies
and the balance of timber and lumber
that will be needed from San Miguel.
Thirty men are employed at the scene
where the new well is TO be put down
as fast as possible. Other rigs are to
be installed if indications prove favor
able with the Cholame well.
The Tiber oil company's lease has
been purchased by A B. SpOoner and
his associates in this city. The Tiber
was organized by Captain McClurg,
Judge Hart, s. c. Griffith and Mr.. Ede-
sen in 1905 at Fresno. 1t was a close
corporation and its experts, after ex
amining territory for oil in different
,iShA fov hlea NdT-f
on the prospects at Price canyon. six
miles south of this city, where the
Tiber began drilling for oil. and FIVE
wells afterward came in at an average
depth of 1000 feet.
CLURG SUPERINTENDS WORK
CIurg. one of the capitalists organ
izing the company, was here at the
time the wells were drilled, superin-
tending operations.
Later the Liquid asphalt company.
that had been turning out the pro-
duce at Summerland, removed its plant
to within a short distance from the
Tiber, and the oil company established
a six inch pipe line from their wells to
the refinery, which used the oil with
success. The Tiber also established
pipe lines which they installed along
the main line of the Southern Pacific
which passes the lease, and the loading
IdChS were COnN SHleHI HlellOu LOT
the loading of oil on the cars al very
small expense. The oil produced from
the Tiber wells is IA gravity. but ex-
perts claim there is oil on the lease
of higher gravity which will be found
if the property is tried out.
After developing a supply of 500 or
400 barrels day, the Tiber met with
The wells sanded fire.
quently and pumping presented in
creased difficulties. The output de-
creased and finally operations were
brought almost to standstill. The
lease comprises some 1900 acres Two
asphaltum refineries were established
near by and it is the ready market that
prompted the purchase.
POLICE WANT BLACK PAT-Ir. Tbnr,az I.