Deming graphic. (Deming, N.M.) 1903-1948, 1919-03-25
ANOTHER OIL EXCHANGE.
Risley x Lucas. Local Men. Open Up
For Business at 109 East
Spruce Street
United Oil & Gas Co. Expects Char
ter This Week-Things Look
Rosy at Myndus


Deming's second oil exchange came
into existence yesterday, when G. M.
Risley and c. +. Lucas erected big
bulletin board in front of their office
at 100 e. Spruce and announced
themselves ready for business. II.
Dial was the first in the field, about
three weeks ago.
The new exchange will pay partic-
ular attention to oil stocks, but will
no. make that its exclusive province,
according to statement made by
them yesterday. They will handle
every kind of stock on the market, in
cluding all listed securities Daily
quotations by wire are to be posted
on large bulletin board in front Of
their Office. Later they expect to
handle Texas and local oil leases and
viii nut a man in the field TO person.
ally inspect and recommend all such
leases offered for sale.
The United Oil & Gas company, or
ganized last week by F. H. Wing, J.
c. Barnes and others, hes applied for
charter and is expecting that doc
ument back from Santa Fe within the
next few days, unless foreseen diff
culties crop out to delay its granting
by the state corporation commission.
AS soon as the charter is received
their stock will be put on the market.
The company controls large tracts in
this county, in the Holbrook. Ariz.,
field and in the new Pecos field. Part
Of their holdings are near the Column
bus we'll Their first well will be
sunk at whatever point on these
holdings is most highly recommended
by the geologist employed for that
purpose.
The Dcming Oil & Gas company,
h. r. Vallandigham president, with
holdings near Lordsburg, has put its
stock on the market and announced
that drilling viii begin soon there.
The Florida company, composed en-
tirely of local capital, is making prep
arations TO start drilling near Myn-
dus at an early date, according to Of
fcials of the company. No announce
ments concerning the sale of their
stock haye been made - RI
A number Of Deming men visited
the u. S. Oil q Refining company's
holdings north of Bowie in the past
week, and as result there has been
number of investments of more
than average size in that company's
stock. A large number Of people are
pinning their faith in this well and
in the one going down at Columbus
to prove the Deming field. l.. r.
Caulfeld, chemical engineer and local
agent for the company, has sent
photographer to Bowie to photograph
the big drill as soon as it is installed
and these photographs are TO be cir
culated generally to assure the COM
panys stockholders that actual OPP
erations have begun and that results
may be looked for soon, Their drill
left Los Angeles last week, bound
for Bowie.
A California company with hold
ings around Myndus has given out
word that drill now nearing the
bottom of hole in the Ranger field
will come to Myndus for its next job,
regardless Of the action Of any other
company Practically every foot of
land around Myndus is now included
in the holdings of one company or an
other and it seems certain that the
first operations in the immediate
Deming field will begin there. p. w.
Turner has organized company in
New Orleans with the announced in
tention of beating everyone else TO
il at Myndus, but it looks as if they
will have to hurry.
The u. S. Oil & Refining Company,
which has maintained an office here |
for six months past, in charge of its
chemical engineer, C. r. Caulfeld, is,
true to its word from the first, max
ing arrangements to discontinue the
office, nearly all of the block of stock
put on the market shortly before they
came here having been taken Mr.. !
Caulfeld is very sanguine as TO the
company's prospects and predicts \
that within very short time local
investors i'm their stock will be re- |
warded with producing well.
"Our new stondard drill is at last /
on the way to Bowie" said Mr.. Caul- /
field n few days ago, "after much de- /
lay due to shipping difficulties, and
it should start down after the oil
within ten days after its arrival We
have only few hundred feet to go
down 20 the bed Of sand we have al
ready found with our test drill. When
we reach that with the big drill my
prediction is that we will bring in
well of not less than $50 barrels.
Some have told me this is not
possible. | refer them to the well
brought in at Breckenridge, Texas.
last week, where a 2-foot sand stra-
tum at depth Of only 200 feet pro-
duced a 1000 barrel we'll We have
II feet Of the same sand at Bowie"