The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1914-05-30
OilPrices Leapto
Widest Figures
inCityofCalgary
City Goes Oil Mad and Police
Are Needed TO Keep the
Would-Be Investors
in Order.
EVERY ONE WANTS TO
BUY. NO ONE TO SELL
Stock of Company Which
Made Strike Advances
From Si2.5o TO $500
and Still Scars.

CALGARY. May f5.--lf there Is
a Juhilant town on the map OF
North America tonight. that town
is Calgary. The strike OF OIL in
the yell VI the Calgary Petroleum
Products Co. In believed 10 be one
Of the most remarkable ever occur.
ring on the continent over a signed
statement o. g. Deveniah, presi
dent OF the Calgary Industrial
Bureau. credits the well with
product OF from ls0 10 200 barrels
every twenty.fnur hours OF oil that
analyses g. Beaume gravity, the
output being worth in the neigh.
borhood OF $4,000 per day. In adj.
dltion TO the oil. the gas output
Is estimated at 10000 cubic feet
The gas IA wet. and contains from
one to one and half gallons OF
gasoline 10 the 1000 cubic feet,
and IL has been demonstrated that
these gasoline values can be cx.
tracted from tho gas at a profit.
Cunningham Craig. the British oil
expert. whose opinion has weight
with tlG British admiralty. said
tonight. In an interview with the
correspondent OF the Western As
sociat.d Press. that he was OF the
opinion that tho strike had proven
beyond n doubt that there was
paying oil field IN this part OF
Alberta. Mr.. Craig added that he
was OF the opinion that even bet.
ter and more valuable finds would
be made with more development.
The city Is oil mad tonight. Half
a dozen companies were taking
subscriptions to stock at III O'Clock.
The highway between the city and
the site of the Dingman well was
lined with automobiles all day
long. hundreds visiting the well.
The well will probably develop
into a pumping proposition. al.
though rurnors OF n gusher reached
the city this morning. when IL was
reported that the oil was shooting
up into the air. attaining a height
OF sixty feet. This was caused by
rush of gas. according to a mos.
sage received from the we'll to-
night. and subsidized few moments
after the occurrence.
The stock OF the Calgary Pctro- |
ieum Products Company advanced |
during the day from 1880 to 5000 |
and there we're sales OF even |
much higher figures.
The various oil companies OF the |
city. who have. to some extent, |
been preaching to a doubling pub
lie for the last month, this morn |
Ing were doing a roaring business.
and In many places IL was neces- /
sary to have police In front of the |
offices to keep the waiting crowds |
In check. In one office the flow
OF real money was so fast that Il |
was impossible to keep II in any |
order. A waste paper basket was
being used. into which bills and
checks were pouring as fast as !,
they came.
OIL stock liz taking leaps by the |
minute. and the scarcity OF stock /
in the lucky company IL only ex- /
ceeded by the extreme excitement /
which prevails. In the brokers OF. |
fices this morning business was
very slow. There IL no selling. Il
Everybody wants to buy. and the /
newer companies are the only PEG.
pie who are willing to sell. Pri. |
vate owners OF mineral rights on |
land and also of stocks are hold. |
ing on for dear life. and have not |
sufficiently recovered from the /
first surprise to figure out what
they should ask for their rights.
Everything reistfnx 10 values is
In confusion.
Vancouver Sun, May 16)