Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-05-26

before to s%earchers after hidden MIR
eral wealth, n making more certain
than has ever been possible the re-
ward OF intelligent, persistent and
systematic effort.
The result Of intensive operations IN
proven fields has been. to all con-
eerned in the oil history, n financial
godsend unparalleled in the history
of any exploitation of mineral re-
sources.
II perfect oil machinery ana the
Introduction OF the latest methods Gar
boring deeper and faster into the
bowels Of mother earth has brought
forth recently flowing oil wells. or
gushers. which have attracted atten-
ton throughout the civilized world
ana given an impetus to the produce
ton of oil and the dealing in oil
shares. and created u situation unex-
pected and unprecedented.
To the un%initiated II may be eN-
planned that the ordinary oil we'll.
after being drilled. cased and sunk
to q depth where oil is found in pay
ing quantities. must be pumped. -
while q gusher, as its name implies,
does its own pumping. the oil rush
ing TO the surface, forced by the ire
mendous pressure of gas from n
depth of 2,000 to G.000 feet through
Inv Htit ntlut IN the NIiillllEt
Several notable examples of wlsh-
.ers Of unheard of production have,
within the last few weeks. occasioned
the excitement before referred to.
About q dozen really wonderful ones
eclipsing anything heretofore known
in oil history. have served to abso-
lutelY demonstrate the unexampled
richness ana permanent character OF
the California oil fields and to cont
vince the most skeOtical that under
rational ana conservative management
the production Of. and even prospect
ing for. petroleum forms a Legitimate
ana highly profitable fleld for the
employment Of capital.
The famous Lake View gusher, To-
Gated In the Midway district, which Is
the greatest of them all. but being ex-
ceptional only in the quantity of flow.
has, in the ~siXty-three davs of it's eX-
istence. poured forth $500, 600 bar
rels Of crud oil. which has y market
value of about $f.509.0 600. In the IA
nous Santa Maria field OF Santa Bar
county, Southern California.
might be mentioned the Hartwell,
and Palmer gushors. the lat
ter being known rs Palmer NO. 1. on
account Of the fact that the same
company now has another gushpr 500
distant. known as Palmer No. ..
1t was, in fact, this self-same Pal
mer No, ? which has, during the past
week. created the latest ana greatest
furore in the California oil industry
and on the floor Of the western stock
exchanges. causing many to be re-
minded of similar scenes on the Chi
board of trade or New York cat
exchange.
This we'll began suddenly by spout
ng at the rate of 5.00 barrels Der |
Law on May IS. and this flow Increased
three DAYS to 5000 barrels. |
he oil gushing from q depth of 3,100
'rable increase as the well cleared it.
of heavy sand. The news caused
Intense excitement and frantic trad
in his stock on the western stock
.xchange boards.
on the day the big gusher "eamc
this stock had been selling at
1.22 per share, but ii was eagerly
fought to the extent Of over 10000
hares. while the price leaped up to
1862 per share in q few hours.
The Santa Maria field. where this
ltest well has been struck, does not
gushers suddenly. tearing
ut casing, blowing down derricks
nd damaging the wen, not to
Mention the squirting of tens of
thousands of barrels Of precious oil
yer the surrounding hillsides to be-
a total loss. The gushers here
ave developed gradually and re-
high producers for wears. For
ne latest gusher. Palmer No. 2. the
ompany tested the gas pressure and
ad provided z pipe line and energ-
ncy reservoir, so that not a barrel of
was lost.