Los Angeles herald., 1910-09-25
coALINGA BRIEFS

COALINGA, Sept. 24.-N. F. Wilson,
president of the Lincoln Mortgage and
Loan company, Friday morning stated
before leaving for the west side that
investors in the east, from which Sec
tion he has just returned, are inclined
to be a little shy.
There is no reason to quit" said
Mr.. Wilson, "just because we happen
to have a greater supply of oil than
can be handled. Take the corn grow
ers, for example. Do they quit when
the market is flooded? No; they ac-
cept the reduction in price, whatever
it happens to be, and go about to put
in the next seasons crop. The price
advances and they make money,
whereas If they had thrown up the
sponge When things were on the down
grade, where would they have been
The oil industry is all right, and it is
only a matter of time until the present
congested conditions adjust them
Selves
The Creme OIL company, section 30,
20-15, is 1893 feet deep in we'll No. l
with a 1-4-inch casing. The water
will be cemented off at this depth.
Well No. is 1000 feet deep with the
rotary. The formation is coming in
very hard, making it necessary to take
the rotary off. The Standard rig will
now be set in and the well completed
into the oil sand with the Standard
tools. The first work done on this
lease was begun three months ago,
showing a fine record and demonstrate
ing the value of the combination
rotary standard rigs.
The Best Yet Oil company, section
IS, '21-15, has levied an assessment of
2 cents a share on issued stock. The
Blue Moon Oil company, section 6,
21-15, has levied a 7-cent assessment
on all issued stock. The Coalinga Hub
Oil company, section %, 21-15, has lev
led a 2-cent assessment on all issued
stock.
The Coalinga chamber of commerce,
through its secretary, H. p. Jayne,
has extended an invitation to First
Assistant Secretary Of the Interior
Pierce to visit Coalinga upon his visit
to the California oil fields. An effort
will be made to have the gentleman at
one of the very popular chamber Of
commerce luncheons, where he will
meet oil men who are vitality inter-
ested in government land subject to
the withdrawal for conservation, that
will come under the supervision of Mr..
Pierce's administration, as he will be
In charge of that section of the depart
ment. It is understood that this visit
to the oil fields is to gather informa-
ton from first hands as to the exact
conditions, and also to discuss the
wants of the oil man. The visit
OF the head Of the department at this
time should be for the good of the
industry At least we will do our part
in showing the field Of producing wells,
and then the government lands where
the operators are developing out In
front-the "wildcatters."
The Coalinga Crown Oil company,
section 80, 1916, is 220O feet deep with
6 5-8-inch casing; formation, blue shale
with gas and occasional seams of oil
sand. The depth is now quite inter
esting, as the we'll is too deep to get
the sand on the south side and is fully
deep for the ''home sand"
The Empire Oil company, section 80,
1915, has landed the 10-inch casing in
we'll No 8 at 1850 feet, having drilled
by the tools lost in the hole. Well No.
2 is 1876 feet deep with 1-4-inch
casing. Well No. is producing 300
barrels per day.
The Coalinga Midland Oil company,
section 10, 1915, the standard rig is
about completed for well No. 1. The
tools and supplies purchased at
sheriff's sale of the personal property
of the Coalinga Income Oil company
are now on this property. The der
rick will be rugged up next week.