The San Francisco call., 1910-06-15
PREDICTS A BOOM
in MONEY CENTERS
Six Weeks Trip of Gilman
Shows East Awakening to
Oil Field Possibilities

(. Kemp Van Ie. vice president Of
the Palmer oil company, who has just
returned to San Francisco after six
weeks visit 10 New York. Boston. Chi
cago, Philadelphia and other eastern
and Canadian financial centers, is EN-
thusiastic over the manner in which the
people of those cities are waking up TO
the great investment possibilities of the
great California oil Industry
New York and other eastern inan-
cial centers have been slow to realize
what a great industry the golden state
has in its vast petroleum fields, and the
exceptional opportunities afforded for
profitable investment of large capital
in their development said Van Ee.
but the awakening has come at last
and 1 predict that as result of it Cali
fornia will within six months be en-
joying the greatest oil boom in its his
tory.
The awakening of the east has been
brought about by the large investments
of foreign capital, principally English,
in California oil lands. The attention
of British capitalists was directed to
California petroleum by the investiga-
tions of the British government into the
merits of crude petroleum as fuel for
its warships These British invest
ments undoubtedly are only the begin
ming of a movement of vast sums of
foreign gold TO this country for invest
ment in California oil lands and oil
securities.
Interesting outside capital in the
California petroleum industry is a mat
ter of education. The British seem TO
have acquired knowledge of Califor-
MAS great industry in advance OF the
people of the eastern section of the
United States. That is easily accounted
for when it is remembered that Eng
lishmen are always on the lookout for
investment that will return better than
? Y per cent. the prevailing rate of in
terest in Great Britain. whereas, oppor-
tunities for profitable investment in
railroad and industrial securities In
eastern financial centers. are so numer-
Gus that people are not In the habit OF
looking elsewhere for investments.
in order to secure the investment of
eastern capital in California oil il is
necessary only to convince the people
Of the east that our great industry is
paving all the way from 10 to 10 per
cent net on the investment In my
Judgment the easiest and quickest way
TO do this is TO have the dividend pay
ing oil companies of California list
their stocks on the New York curb,
That would at once attract the atten-
tion of investors and give them facili-
ties for becoming familiar with the in
dustry and the securities of the various
companies that could not be done in
any other manner.
while in the east / listed the stock
of the Palmer oil company on the New
York curb and opened an Office for the
transfer of stock in New York city, in
order to facilitate transactions in the
stock. ! also made application for list
ing Palmer on the Boston curb and on
the Toronto exchange. / also intend to
list the stock on the exchange of Salt
Lake City" y
Asked concerning the report that an
offer of IS. .000, 900 had been made for
the properties of the Palmer oil COM
pany by British and French capitalists.
Van Ee acknowledged that such an
offer had been made to him while in
New York. He declared that the prop
erty was not for sale, and at any rate
not at any. such figure as that proposed.