The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-04-17
OIL FIELDS Of TEXAS
ATTRACT MINING MEN
YESTERDAY A WORTHLESS DIES,
eRr, NOW PRODUCING
MILLIONS.

Charles McKinnis returned the first
of the week from Ranger, Texas, the
center of the latest great oil excite
nlent, where he spent several weeks,
also visiting other sections Of the
vast oil fields that extend from kan
sas, across oklahoma, through west
ern Texas and into Mexico. Less
than year ago Ranger was a little
poverty stricken town of about 400
inhabitants, situated on the Texas &
Pacific railroad, surrounded by arid
farmers tried and failed to make q
living and which could have been
bought for from $3.50 to So per acre.
Today Ranger is a city of over 10000
people, although it was Incorporated
only few weeks ago, Contracts
have been let for miles of street paw
ing, concrete sidewalks and a sewer
age system. Real estate values con-
tinue to climb. although it would ap-
pear that they have now reached the
peak. A 75-foot corner lot sold for
$37,5O0. A seven history office build
ing is being erected upon 1O0-foot
lot which pays a ground rent Of $4,000
"a year. Every room in this building
Is rented with rent paid in advance
co ~ ~, M,E N
toned many instances Of large and
quick profits made in Ranger real es-
tate. Less than a year ago a woman
cook landed in Ranger with $40 in her
purse. went to work and got hold of
two lots While Mr.. McKinnis was
there she sold one of them for $4,000
and still holds the other which is
equally as valuable Another Ranger
woman received $1,8O0,0O0 the past
year from one eighth interest in an
OF. lease.
Cost and Production.
According to Fort Worth paper
of recent date, 173 wells had been
sunk at Ranger and Of these 1873 Were
producing and the Ranger field was
credited with a production Of $4,000
barrels Of oil per day. On April
there were 100000 barrels of oil
stored at Ranger. The oil is con, ~,
ed to market by two S-inch pipe lines
to Houston, on the coast, and a thirt
line Is being constructed. The oil pa
at Ranger is generally struck at
depth Of from 5000 to 5000 fee. Th'
cost Of constructing and equipping
derrick and sinking a well average
about $4,000, Mr.. McKinnis said.
Secures Lease.
Mr.. McKinnis stated that he ha
secured a lease and would soon ar
range to start well, but his plan
had not been fully determined. Oper
ators at Ranger had offered to pa
him a bonus for his lease, sink tn
we'll and give him half the profits. II
also has under consideration the OF
ganization Of a company to explo
the ground. Mr.. McKinnis says thel
are six producing wells within a rae
ius of half mile from his lease an
on three sides of it, and on the otht
side two wells are being drilled, or
of which is now down 1900 feet. M
McKinnis says there is no such thir
as an option or bond on oil land
that field. The deal is cash and If tt
land has merit there are plenty
men there to pay the price. The GOV
eminent is taking action for the SUI
preston of fake oil promotions ar
many arrests have been made, bot
promoters and brokers who hand
that class Of stock.
While Mr.. McKinnis was in Rang
the well being sunk by M. A. F'olso
struck the upper sandstone stratu
and had small flow Of oil. Sim
then the lower stratum was penetra
ed, resulting in a heavy flow and II
surfing large profits