The San Francisco call., 1910-07-28

its regular dividend. The officials claim that
the money is required for development work and
will be applied in that way so y ina, sa cani can
tract $1,000 barrels month at 6oc, which the
Warren Brothers. who leased 1t, have been oe-
Midway Five oil company section 5-S2-2 %
has a 121a inch casing down 15oo feet
and expects to finish up with 10 inch casing.
A heavy pressure of gas is said TO have been
encountered. Near by are the st. Lawrence
and Hale Mcleod properties, and adjoining a
new company, incorporated by J. ]. Grant, b.
N. Smart and W. H. Flower of San Francisco.
will operate 10 acres.
pipe line is being laid from the Midway
northern the northwest quarter or section
2-l2-23 to the New Center, and this company
will market the production for the time being.
The New Center has contracts with three rall-
roads and refinery. AS the Midway northern
oil is of % gravity, it will probably go to the
refinery.
A liner has been put in well No. of the
United oil company on section 1929 and the
we'll is flowing 500 barrels a day. The hole is
clearing Of sand and the gas pressure IS getting
the well to flow between the castings.
The United has FIVE wells on production,
Nos. L, 2, 3, and 6, and will deliver 2o,0OO
barrels to the Standard on a contract at csc
this month. Well No. is being drilled for a
deep sand that Is believed TO underlie that sec
tion of the field.
The Consolidated Midway oil company has a
proposition to make a contract for its oil which
will net the company 47c barrel in the held.
The offer has not been accepted because negotia-
tions are on with other concerns and a better
price Is expected
The company's well section so. it is esti-
mated, will produce anywhere from 10000 to
10000 barrels day, the oil being Of 21 gravity.
No more of the treasury stock, it is said, will
be sold at less than par. The company expects
to bring in two wells within the next GO
days, one on section 80 and one on Is. The
latter is down 1880 feet.
Directors of the Union oil company met at
0leum recently to discuss the marketing of In
dependent oil.
The marketing agreement between the Union
and the Independents association will be made
the basis of loans which the independents pro-
pose TO secure on oil in storage, providing a
plan that the Union directors considered should
be adopted
The Independents association now has in stor-
age about 100000 barrels Of oil. exclusive of
that part of the output of the Lakeview gusher
which has been stored.
If practically all the holders of this oil should
desire to secure loans 1t. total of 81. 500. 600
or more would be needed to supply the demand.
That portion all of this money can be
secured in the east, if desired is believed, and
representative of the oiImen is expected to
confer soon with New York fnanciers concerning
the matter.
a meeting of the minority stock holders of
the Claremont oil company was largely attended,
over one-half of the stock being represented.
John Baker Jr. was unanimously elected chair
man.
A resolution unanimously passed appoint
present unsatisfactory conditions of the Clare
mont oil company affairs, with power TO take
such steps as they deemed proper to protect the
interests of the minority stock holders. Those
present guaranteed funds sufficient to defray
the expense of such proceedings The commit
and John Baker Jr.. the latter being chairman
a