The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-01-07

capitalists are contending. The Mex
u lean Eagle oil company. Lord Cow
= dray's corporation, has "A refinery "A
= Minatatlan. with daily capacity o
II 10000 barrels. il is building "a llee
l. of 20 tank steamers and is alread!
l. paying dividends of pei cent ON pref
erencc shares amounting To $500, 600
The other companies ALSO are profit
u able. Some idea OF what the struggl,
means is shown 10y the fact that the
: total oil fields now operated i'm Tho
whole United States amount To $500
000 acres whereas the oil fields OF the
Tampico district-and there are num-
erous others IN Mexico--contain 5,00D,-
Oco acres.
About Is years ago an cntcrprising
gentleman from Los Angeles, Mr. Ed
ward J.. Duhcny, made q trip To- the
then undcN cloped Mexican oil fields
The Mexican oil company, "A corpora
ton made mp largely of Los Angeles
men, was the result: t. leased land
and obtained subsuil rights from Mex
lean farmers, ana soon was making
4 49, ~ ~ 81 ~ - was lltA VI hi
| especially hish Grade. but was useful
for fuel, especially on railroads High
| vr grades. suitable for lighting how
ever. soon made their appearance The
market waG right here i'm Mexico: pc
trulc)m, because it had To he imported
from the United States, was selling at
cNtraN agdut prices. The news OF tho
Ill
seemed to- be fairly rocking with It,
The possible exhaustion of oil sup
plies is q ghost that haupts the indus
trial world today. 1t is no secret that
the standard oil company, a few years
ago, was almost in u panic over tho
rapidly diminishing product Of its oil
fields and that the discovery Of oil i'm
California oklahoma. and other places
saved IL from actual embarrassment
il is not strange, therefore. that these
Mexican disclosures caused a scnsa-
ton. From surface Indications the
Mexican supply seemed incxhaustlble.
and there were plenty of prophets who
iorcsaw the day when these new gush.
ers would supply the larger part of !
tho world The Waters Pierce COM |
pany of Texas promptly stepped over
the border and began producing and |
refining Mexican oil. And conCidcntly |
the production of the Mexican fields |
Increased, In 1900 Mexico produced |
practically no oil at alI-uow it stands
next To Russia and the United States.
Who Is This Man OF Fame, Lord
Cowelray?
The Waters Pierce company had
hardly Cntrenchcd itself i'm the Mcxl-
can oil regions when Il new compcti-
tor appeared. American and English
capital now proceeded TO contest the
field. The English contracting firm of
:. Pearson Il Son, It., had already
done Il large amount of work i'm Mex
eco. Its head, Sir Weetman Dickinson
Pearson, was we'll known in the Unit
ed states. Many years ago he had
started To build a tunnel under the
Hudson river, connecting Hobokcn
with Christopher street, Manhattan.
lie did a considerable amount Of work.
unlH his money gave out, aud the tun-
mel abandoned as a hopeless task.
filed with water. Several years after
ward Mr.. William G.. McAdoo. now
secretary Of tn" treasury in President
Wilson's cabinet, came along. finished
this tunnel and built several others.
About 1896, Sir Wcctman Dickinson
Pearson made his first appearance in
Mexico. i'm the days when Porlirio DiaZ
was most powerful. In fuiilment of a
long standing ambition, Mexico had
subsidized the building of railroad 5
across the isthmus Of TchuantopcC,
connecting the ports of Puerto Mexico
ana Salina cruz This road was poor |
y built and a failure. Sir Wectman $
Pearson, with the Mexican government !
rs an equal partner, undertook To re-
build IN" line. an operation that
'rouGht linn in close association with :
President Da2. The two men became /.
warm personal friends. \ few years
lltcrWdrd Sir Wcctman undertake
'ertain government contracts i'm tho y
larh"i OF Tamico. I|ut the able Eng u
Ishihah saw more in this section than .
ne particular work i'm which he was :
Tampico was the center of
ne new oil industry ana thousands of " /,
'a'fcIs day were being shipped by "
'oai ana rail To all accessible parts
# Mexico
Rumor mas busted itself pretty gem
rally with the events that now rap
diy followed. Some newspaper his
ofians ind in the oil situation an
EXPLANATION Of the recent political en-
'roilmcnt OF Mexico. According to
his clcw the oil Of Tampico caused
ne Madcro revolution against Diaz.
he Huerta uprising against Madero. =
M came near disturbing the friendly
Citations between England and the :.
Inlted states. one Of two facts at -
EAST stand out plainly enough. Ono ~
that President Daz had acquired ',
dislike for the Waters Pierce corpor- "
ton. An explanation Is that the ~
americans were charging Mcxicans e
%'esslV" prices for oil Another fact -
that he showed favors to the Eng -
sh concern. In 1910, Sir Weetman :"
carson was created Lord Cowdray. -
nd about this time the British admir-
NY began to experiment with oil as a
lel supply for British warships =,
VI