Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-04-20

bring oil in paying quantities to light
around Hot Springs.
Unlike the costly ventures in the
older oil fields, where a pot OF money
is necessary to make the first trial for
production, the Hot Spring, field has
attracted investors because Of the
"evenN break" every buyer has, and
really on the ground floor. Oil stock
is gamble, everybody knows. but the
evidence that there is oil in the Pitts
burg field, coupled with the determ-
nation of the groups of home men
who are to develop il that everyone
VIII get a fair run for his money GER
tainly makes it an attractive PROPOSE
ton. When stock wells show oil seen
age at 200 to $50 feet that renders
the water unfit for drinking it looks
to us like there is a great pool there
somewhere.
Other Companies Formed.
Another New Mexico companv is
asking cooperation, preliminary to
drilling in Torrance county, and ex-
poets to make its wells in the Electra
and Iowa Park districts nav for the
home development. 1t is the Encino
Basin Oil and Refining company, with
home office at Encino. A statewide
campaign has been started by this
company and a capital city office
opened at Santa F'e. H. A. Ballard is
the treasurer 6. r. Creighton, presi-
dent; F. Fl. Wood. vice president; W.
{. flnnell secretary-all land owners
and business men of Encino.
There doesn't seem to be anv slack
ening of investment in oil stocks at the
many home offices of companies Of
fering shares in Burkhurnett, Ranger,
Comanche, PeCos. Hueco Basin, Hot
Springs, Tularosa Basin, Cube rson
and Hedspeth Counties, Colum bus
and many other districts, both wildcat
and proven. Next week mems minds
VIII turn to the Victory Loan literally
but following that period more money
VIII pour into treasures to carry on
development work everywhere over
the southwest.
At the opening of the El Paso stock
exchange Thursday night $50, 900
worth of Victory Bonds were sold in
a half hour This is the most preten-
uous exchange yet opened here, in
which all brokers and the public par
tcipate. Any stock can be Offered
from the floor and bundles of trans.
actions take place rapidly.
Home Stocks Quoted.
Among the home stocks dealt in
were the following: w. w. Cox, Tula
rosa basin, $1S5; Ocean 81 to $1.O5:
Hueco- Ranger s1,15. Several divi-
dend payers were handled.
Dallas capitalists are preparing to
offer thousands of acres of oil leases
in the Pecos valley in Texas in small
blocks at cheap prices, Headquarters
will be opened here. The Sunshine
Oil corporation, having sold all of It's
stock offerings, is also offering leases
in blocks
c. f. Kelley, former mayor of Ell
Paso, is at the head of a company pre-
pairing to put down its first well in the
Pecos field. The Sunshine corpora
ton is sending its Laura well down.
but declines to give information.
James r. Bowen, pioneer of the Pecos
country, is also offering a leasing
proposition. His general letter on the
evidences of oil in the Pecos fields is
one of the most interesting reports
published here.
News comes from the Gala valley
in Arizona that leases for oil are being
taken IN by the thousands of acres.
One report said that Standard Oil
agents were active.