The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-07-21
SUGGEST PLAN TO
DEVELOP UTAH OIL
Salt lakers Believe Time Is
Ripe for Opening Utah
Fields.
MAY BE POPULAR MOVE
COOPERATION ON BROAD LINES
WOULD BRING RETURNS.
MAY BE POPULAR MOVE

Otan mas more tnan nalt n dozen oil
fields which have been pronounced mer-
itorious by experts who have examined
them. Those best known are in San
Juan. Garfield. Wayne. Washington,
Utah and Uintah counties. Wells which
produce oil in commercial quantities
have been made in the san Juan and
Uintah fields. OIL has been found in
the other fields, but it has not been de-
veloped I'm paying quantities.
It is agreed by the best authorities
that most. IL not all. OF the Utah fields
have every indication to warrant the
eNpending of money for their develop
ment. Most Of them are at a distance
from railroads; their great need is de-
velopment to the point that would in
duce the building of railroads or pipe
lines to handle their outputs.
Utah has done almost nothing 10
bring about such development. although
there is reason to believe that the we'll
directed expenditure OF less than 81
100000 would result in bringing Into
operation a new industry for Utah the
value or whose product would equal the
enormous value of Utah's mineral prod
uct Of TODAY
California's oil output during 1909
was 57.O0O.0OO barrels Of oil. which
brought an average Of better than 80
cents harrel-probah bly, S30.000.000 for
the total output. CALIFORNIA; oil pro-
ducers are today eNertinR every effort
to Increase their production, and their
stora Ee capacity. so that they may be
In position to figure with the govern
ment and other large users and pros
peCtive users OF oil upon contracts for
enormously increased supplies or the
product.
West Must supply oil.
The eastern oil fields are becoming
exhausted Their production now Is
a bout one-fourth what IL was when
they were at their best The western
fields must be drawn upon for tho
country's oil supply Of the future. The
western fields. the experts say. VIII
have much longer life as producers
than have had the eastern fields the oil
sands or the western fields are Of
much greater thickness.
IT is perhaps - -Sot Utah has a
greater area OF oil lands than has CAL
ifornia. 1t is believed that they VIII
he fully as productive. II Is known
that the Utah oil is Of much higher
grade than that produced in Califor-
mia.
Is not the situation one which should
incite Utahns to action-even in hot
weather. As said before. Utah people
have done almost nothing to develop
ITtah's oil resources. The san Juan
field Is being developed slowly by citi-
vadans have done something in the Vir-
gin and Uintah fields. but they were
una ble to go far enough to accomplish
ANYTHING definite.
recentlv awakened TO realization OF the
possibilities Of the situati ton. TheN
realize that the situation-hright as are
the prospects OF some OF the Utah OF
fields-is not at this time especially
allurinE for individual effort. or for
the promoting Of corporations or limit
ed scope. But ~ Is believed that the
time is ripe for the forming Of p pop
ular corporation for large operations.
Suggest Broad Cooperation.
nj.
Of forminE-perhaps with the CONNER
cial club as sponsor corporation or
900. 900 shares. OF which 250.o00 shares
Of promotion stock would be offered Tor
subscription at mar 81 share. These
subscriptions might be made payable
one-tenth down. the remainder In nine
or more monthly payments. The com
panv would thus start with practically
$3.50. 900 Of cash assets and 10000
shares OF stock in its treasury. There
would be no promotion stock. IN the us
ual acceptance Of the term; all share
holders would go in upon an equal ba-
sis
The treasury stock would be needed
mainly for the acquiring OF lands. oil
lands IN the best portions Of the vari-
Gus fields have been generally located
they are I'm private ownership. The own
ers. who as a rule have no means for
developing their ground. should he glad
TO sell one-half or three-quarters Of
their holdings at a nominal prtCe-saN
g. to IS an acre--in consideration OF
the lands adjoining their reserved hold
ings being speedily developed
The new company, It Is suggested,
should send its own experts to thor
oNEhly examine the various fields. Sc
lecting the best three or four. in which
operations would be started simultane-
ously. and carried to the point OF prov
inE the fields.
such company. receiving as IL
should the support Of all salt Lake
fntcrests-of mining men. bankers. bus
mess men and laborers. professional
men and farmers-Could readily com
mand all OF the capital needed 10 open
the fields for production after they
had been proven. That one or more
OF the fields would prove to be large
producers is virtually a certainty-and
that would mean that the Utah com
pauv would be one of the big oil COM
panies OF the country Its possibilities
from an investment standpoint. would
be aimsot too great for estimating