The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1910-06-18

of lands in the great oil belts of California
and the average immense returns upon same
after development-in other words, the great
difference between cost of production and
returns thereon, will continue to be a rich
harvest for the investor just so long as you
Middle West and Eastern peopie-you per
cent or 5 per cent per annum folk-remain
in ignorance to the actual conditions, the
safe and profitable opportunity offered
through an investment in California oil just
so long as you are held in ignorance and
fail to grasp the situation. just so long, and
no longer, will the present favorable condi-
ton for the investor exist
Uncle. does it appear right in these days
of keen competition and small profits that
land in an oil-bearing district can be pur-
chased for a few hundred or few thous-
and dollars per in view of the fact
that a single well-and the average allot-
ment in this state is about one well to the
acre-has produced during the past month
California oil to the net value of over one
half million dollars.
You will say this is an exceptionally good
we'll; granted, so it is. At present it is
the largest producer in the great state of
California but remember we have had the
largest producer before and logically we
will have it again because we have the oil.
1t has been there for ages, according to
scientists, but it is only recently that mans
ingenuity has succeeded in turning out the
heavy drilling machinery and casing for the
wells that were absolutely essential in order
to go after the oil propertp in California.
The present big we'll may truthfully be
called an accident or drillers well, because
the men who owned the property decided
that they had gone deep enough and ordered
the work stopped, as they had already gone
through a sufficiently large quantity OF oil
sand to make a good well, but the drillers,
the men behind the gun went about 40
feet deeper and struck the large body Of
sand which brought in the present large
gusher.
We also have wells from which the oil
is pumped, such those operated in the
Kern River field, which district has during
the past ten years produced l should judge
about 100 million barrels of California OIL
OF course you must remember that I am
now referring to the oldest large producing
field in the state. Another field, which has
been actively developed much more recently
and is producing a greater quantity Of oil
from much less number of wells, is the
Coalinga field, which you will note on the
map l am enclosing, is located northwest
of the Kern River, which at present, in point
of production, is the greatest producer of
them all. In fact it is called the Wonder
field However will refer to Coalnga
later.
You must bear. in mind, Uncle, that it is
not at all necessary for a company to bring
in strike a big well in order to make a
handsome return to the stakeholder upon
his investment. If the striking of a big well
were necessary it would place the oil bust
ness on the same level as gold mining or
any other kind of mining that is in the
chance or hazard class but when you I'M
derstand the subject fully you will agree
with me that the returns to the investor