The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-07-23

than so millionaires have been Gre
ated, some of them over night in
Texas alone There is risk. of course.
But there is a risk in any line of In
vestment. The largest operators must
share it with the smallest investor in
stock.
There is a system called playing
averages" which practically elimi-
mates the risk for those who are not
actual "wildcatters" attempting to
drill discovery" wells in unproven ter
ritory. If a company can afford to
stand the possible loss of one or more
dry holes and keep drilling, it is more
than probable, Notwithstanding the
fact that it costs 100000 to $4,000 to
drill well in the deep production
fields of Texas, that the next we'll will
be able to compensate all losses and
make fortune for the promoters and
stockholders. The average of dry holes
and mere gassers i'm proven oil terri
tory is very low. AS the work goes on
out of or beyond the proven field the
chances of loss become greater. 1t
is not often that any but the most able
companies take such risk. The Texas,
Standard and other very rich corpora
tons take the risk and are continual
ly drilling in favorable, but as yet un-
proven territory. Lease operators
watch them like hawks, and when
good production is reported a rush for
lease holdings begins. But the big
companies are also wise. They keep
scouts watching developments, and it
is not often that they fail to get all
the territory they want as soon as
production is in prospect
BEWILDERING SCENES
Only a tour of the producing fields
can convince one of the hold the oil
game has on the public There are
several great fields in tremendous ac-
tive operation. The Burkburnet, the
Ranger. Desdamona and at Wichita
Falls. The Desdamona is rapidly loom
ing ahead as the field of greatest
promise. The Ranger is a close Sec
ond. Where only a few months ago
were dreamless country folk in pas
toral pursuits, content with good crops
and normal profits, are strangers wild
ly intermingling in mad excitement in
oil operations that never cease and are
ever increasing both night and day.
The floating population runs into thou
sands daily. The huge derricks where
drilling goes on not miles apart, but
within a few feet of each other, ap-
pear as a. forest. There are thousands
of them. The noise is terrific. One
cannot hear the purring of his automo-
bile in passing. There are roaring
wells of gas that add to the bedlam
gines, pumps and boilers, the laying
of pipelines, the hundreds of autos and
great trucks laden with material and
supplies; the acres and acres of huge
storage tanks, the erection and con
struction on every hand, the thou
sands of busy workmen, all com bine
to make a scene unbelievable and in
describable that will have to be seen
to be appreciated, and then the mem
DRY Of such gigantic activity, such
selfish and unsympathetic scramble for
mere money, will linger with one many
days. No descriptions of the rush to the
gold fields of Alaska and Nevada have
ever equalled what may be witnessed
on a visit to the great oil fields of
Texas.
Much more could be written and yet
the story would be half told 1 may Of
fer later story of the details of pip
ing the product to storage and to mar
ket, oil demand, the refining indus
ry, it's by-products, the operation of
drilling companies, dealing in oil well
supplies, etc. That would be merely an
interesting story. But it would be in
teresting to a degree. There are many
profitable angles to the oil game. What
is of more interest now, or at least in
this brief story, is the advice of repu
table men in or familiar with oil dew
elopment and a note of warning to
would be investors Get into the game
if you can. 1t has wonderful possibili-
ties But steer clear of the wild cat
promoter Investigate the men"behind
the gum" and their manner of proceed
ure. 1t is advisable to look before you
a tetaoin shrdlu etaoin shrdlu etaoin
leap. If you would reduce the risk to
it's lowest average. trust your money
with a regularly organized and duly
authorized incorporated company and
depend upon the government, on lack
of other resource, to see that you get
square deal.