New-York tribune., 1910-06-19
Further Considerations.

Further Considerations.
The second consideration was that IL
would be folly TO neglect such a ripe am
attractive opportunity Of increasing MeXl-
cos foreign trade and securing to her a
share of the foreign oil markets inc
third consideration was that ultimately
the bulk of his profits in the oil business
would proceed from meeting the future
demand. In Mexico alone. for oil for fuei
purposes Apparently he gave little, II
any. consideration to the question of pos
sib1e revenue and gains from d1spos1ng, IN
Mexico of oil products, illuminating oh'
lubricants and gasolene.
Sentimental considerations, as well ts
impulses proceeding from more material
grounds. rendered Sir Weetman an ideal
and logical pioneer in seeking to sWeh
Mexico's national wealth by exploiting her
oil fields. Many of the engineering ana
financial achievements, which have
brought the firm of S. Pearson s. Son into
international -eminence in the technf-
cal and monetary circles Of the world
have been accomplished in Mexico.
Imposing and enduring public works in
this country stand as impressive monu-
1nents to Sir Weetman's genius. Among
them are the drainage system Of the val
ley of Mexico: the Vera Cruz port works
which gave Me1icos chief port a safe and
couuaodious harbor instead Of an open
and dangerous roadstead; the Tehuanre-
pec Railroad, rival to the Panama Canal
in commercial importance. together with
The port works at the ternini of the Te-
huantepec Railway at Puerto Mexico and
Salina Cruz the drainage of the city OF
nrf re
works system. and many other enterprises
involving expenditures of hundreds OF
millions and Correspondingly large profits.
Others Had Known of Them.
Sir weetnan cannot be credited with
the possession Of superior acumen in sens
ing the opportunities that were dormant
in the oil situation in Mexico. Mr. Pierce
and others had been cognizant of them for
wears, the former for at least a quarter Of
a century. Every one knew that there
was oil here Those VINO were sufficiently
energetic and enterprising to undertake
the task of exploitation lacked the capital
to operate on an adequate scale
There were others who had the capital.
but wanted the courage. In this category
was Mr. Pierce. There is no reason On
portunity, power and money at his dis
position, should not have exploited the OIL
fields of Mexico twenty-five years ago,
and anticipated Sir Weetman by that
length of time in giving the Mexican cor
su1ner cheaper oils, both crude and re-
fined. from wells drilled on Mexican soil.
Manifestly, Mr.. Pierce must have SUBJ
scribed to Andrew Carnegie's famous mot
To: pioneering doesn't pay"
From a selfish standpoint 1t would not
have paid Mr.. Pierce TO pioneer for oil In
Mexico. In the first place, he held
monopoly of the Oil trade. He imported
his crude oil from the United States. pay
ing the heavy customs duties imposed by
the Mexican government; or, rather the
customer paid the duties Statistics of
the Mexican oil trade from the day the
Waters Pierce Oil Company embarked in
business here present this indubitable
fact: The monopoly demanded from tbs
consumer the highest possible price that
1t could. "All the traffic will BEAR" was
the monopolys rule in fixing rates. The
price was shaded only enough to deter
consumers who might mediate rebellion
against the prices of the Waters Pierce
Oil Company from importing their own
refined oil from the United States. paying
freight, customs and storage charges, cop
ing with the inconvenience and assuming
the risk of loss by evaporation and leak
age.