The San Francisco call., 1910-11-22

OIL STOCKS

Trading in the oil stocks was merely moderate
yesterday. with decline in Maricopa SO to
%. There was a higher bid of $2.65 for
map of the Whittier-Olinda oil field. In
Los Angeles and Orange counties. has been pre-
pared under the direction es state Mineralogst
Aubury. In the compilation of the map a large
number OF original maps and surveys furnished
by the Santa Fe railway system the Puente oil
company. the Standard oil company the Los
angeles gas and electric corporation the Berea
Canyon oil company and the Murphy oil COM
pany and others have been used The man of
the Whittier-olinda field has been prepared by
the field assistants of the state mining bureau
In the oil country and it is a part of the min
ing bureau work that has been in progress for
some months, calculated to give exact inforna-
ton in all lines relating to the leading mineral
industry of California A bulletin Is in prep
aration, which will be Illustrated with many
maps, and be made of utility by the inclusion
verified data that will entit1e it to be consid-
cred and used as handbook of general and
specihc information by owners Of properties and
by the general public interested in the produc-
ton of petroleum in California. Copies of the
Whittler-olind map may be had at the state
The Coainga Oil Record says: "An assess
m%ent % OF 10 cents per share on all outstanding
Coallnga National oil stock will. in all proba-
bility. be levied within the next day or So In
a report issued to the stock holders October q
the directors announced that owing to great
amount OF Indebtedness. which has been In
CURED on the producing well. which the com
pany pa G now owns. it would probably be necessary
on the market made 1t inadvisable TO issue any
more treasury stock.
80 The debts of the company approximate
bills and accounts and S22. 900 is owing as the
final payment on the land upon which the
300 barrels per day. few tanks of oil have
been run the last month. but the sump holes
full"
As result of the combine of powerful mar
keting companies the Standard oil company Is
compelled TO pay fair price for oil at the
wen. Previous TO the agreement between its
rivals the standard was attempting to force the
price of oil to the producer down to 60 cents
barrel That the effort not successful is
evident from the fact that the Standard now is
Offering 40 cents barrel for oil testing better
than 19 gravity:
Another convincing bit Of evidence that the
California oil industry is not at standstI and
thst operators consider conditions satisfactory.
In the various fields of the state.
Most significant proof of confidence In the
the campaign of development recently launched
by the Union oil company This company
mas more than 300 rigs in course of construction
in the Midway field alone and are to fol-
low. The Honolulu company is building 25 new
rigs, the Lakeside two, Consolidated Midway
lour, Northern oil company one. North American
FIVE: and. in fact. there is more activity in the
he1d at the present time than ever before.
Ihe associated th oil company which recently
Midway held is preparing TO drill II new wells
buhders now are at work.
The Brookshire oil company. section 4-31-23,
IN the Upper Midway field. has resumed drilling
alleF SHUTDOWN or more than a month.
The American oil fields has finished wells
Nos. 60 and 81 on the south line of the north
east quarter of section 36-31 % and has them
on the pump and flowing They are said to be
GOOD Tor about 30 barrels each and improving
as III the sand is cleared from the holes
Inc American has II wells in production, Of
which nine are pumping. The company has
1 700. OO0 barrels in storage on the property.
lhere are eight $4,000 barrel steel tanks full
and TOUR more building. Six hundred thousand
barreis IS stored in cement lined reservoir
ands 100000 barrel cement reservoir Is being
built on section 25-3I-23 When this is finished
the big 100000 barrel earthen reservoir in the
edge of the hills on the south end of SO will be
abandoned, the loss from such storage being so
great that the company not afford to use
1t, even temporarily
Ihe American is drilling four wells SO
and rigging up for eight more. Inasmuch as the
big wells have fallen off in their production 1t
IS prooable that four strings of tools viii be
The E. L. Doleny oil. gas and asphalt COM
Dany IS expending between 1000. 600 and |
sz.aoo.O0O in Improvements and extensions.
SeEehtF miles OF railway. connecting places |
it Vhich the companies operating. will be |
PULL the oil storage capacity increased from |
pipe line added to that now in use. Pipe for |
his purpose is on the ground.
Inc Huasteca petroleum company has arranged |
or the shipment and sale of 100000 barrels |
u OIL as rapidly as it can be delivered.
Inc company has been building Sc. 900 barrel |
forage tanks at the rate of every 10 days. |
L VIII increase construction forces so TO |
'ompIete tanks at the rate of five a month.
sixty OH TANK cars of the latest model, with |
capacity of 200 barrels each have been |
'urchased from Salt Lake, and have been added /
o the 80 previously owned and operated by the
company and the $50 cars used by the Mexican |
sationai railways in transporting oil for the |
aeAican petroleum and the Huasteca companies |