The San Francisco call., 1910-11-19
Assessment Directory comstock Mines
OIL STOCKS

Trading in the oil stocks was merely fair
YESTERDAY and the only changes of note were an
In MaricOpa SO TO $3.50.
. The assessment of cents Four oil was de-
linquent yesterday.
A. g. Wilkes. who bas been representing the
July Consolidated oil company and the firm Of
Edward f. Epps & Co. in London. returned
Thursday on the Philadelphia. bringing with him
the signed contracts of Abraham. Jonas & Co..
the London bankers, who have underwritten the
STOCK OF the English company. In substance.
the contract provides for the formation of an
English company with a capital of $500. .00O. df-
y1ded into 100000 shares of a par value of Fl
the July company all of their properties. leases,
machinery, buildings. assets and liabilities and
English company agrees TO furnish Immediately
Sl5O,0o0 working capital and such other funds
rom time to time as may be necessary to put
the properties to their full production and also
to list the English stock on the London stock
exchange. The July company will retire all
OF the remaining treasury stock and will be-
come, in effect holding company. having as
assets 100000 shares of the English company $
stock
Oil will be run from the Midway and Sunset
fields by the Producers agency This follows
the opening of the Producers line for oil at
ried from any of these West Side fields since
the pipes were filed with Lakeview oil, about
two months ago.
1t is believed that the Lakeview situation
has been so relieved that there is no longer
oil from the famous gusher was tanked up in
earthen sumps away down the fat. 1t was
feared that when the rains came on they would
cause these sumps to break. and not only bring
about the loss of much oil but possibly precipi-
tate the back flood into the Buena Vista lake.
The statement is made that when the nroner
connections are made with the Associated line.
as they will be in the near future. the combined
interests can carry 10000 barrels of oil a day
out of the Midway Sunset district
The Midway Northern, section 80. 1928 de-
livered 10000 barrels of oil on its contract dur
ing October from well No. /.
Another big well opened on the 18th.
when the NJ. & j. company opened their first
we'll, which started off at 10000 barrel clip
The oil, which is IS gravity. was thrown $50
feet in the air until the worlmen succeeded in
closing the hve gates that had been placed on
the well in anticipation of its being a gusher
The we'll was finished with eight inch cas-
ing at, about 1,900 feet, and with the five gates
closed and the pipe reduced to two inches the
wei IS making between 1000 and 1000 barrels
Well No. L of Midway broke loose again
SI on the llth, making production of 10000
clearing of sand and the superintendent hopes
soon to have the well on steady production The
contract with the Standard for 100000 barrels
No other contracts have been made, though sew
eral are under consideration.
One of the most notable events in the his
tory of the Independent Oil Producers agency
is about to occur in the joining of that organi-
zation by the Palmer oil company with its pro
duction from several enormous wells.
It is said the Palmer and the agency have
now practically come to an agreement over
days kept the two apart and in the future
the Palmer will be delivering its oil on equal
terms with those VINO already constitute the
agency.
This is looked upon as great victory for the
independent producers. for the reason that the
Palmer company is especially strong. both fnan
cially and in production.
1t has tract of extremely productive ground
and the yield of the wells is remarkably large
and constant.
The history Of No I, which is now over 2
years old shows that it has been delivering each
day. with little or no variation, 800 barrels
of fuel OIL which record has been kept up for
months.
Previous to that If made 5000 barrels day
but half a mile of tubing dropped into the
hole and impeded the flow.
Deliveries from the Bankers property for Oc-
tober amounted to 21,000 barrels, to the Associ-
ated.
The California Hills operating the old Sanger
Hanford property. has contracted to deliver
0000 barrels of oil to the Sunset Monarch
refinery at Marieopa at 40 cents a barrel
The company has two wells, Nos. 2 and g. on
the pump. but has decided to drill one of these
this sand at about 1000 feet, finishing with
over 100 feet of sand, and has production of
1S4 barrels a day, 16 gravity oil
California Hills figures finishing its we'll
at 400 feet, with rs inch casing. perforat ting
both sands. The work viii commence in few
days.
W. C. Daniels. superintendent Of the Ventura
oil development and Jewell oil companies brings
a report from the Sunset fgd that a well has
property that is said to produce between 100
and $50 barrels day of so gravity oil. This
If true. is probably the highest grade of oil ever
discovered in California. The Importance can
readily be apprecia ted the price for such
quality should not be less than So barrel.