Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-02-13
OIL EXCITEMENT
RUNNING HIGH IN
CLOVIS VICINITY
Business Men of Magic City
Form Company and Com
pIete Arrangements to Start
Work On Deep Test Well,


SPECIAL coFREsPoNpsneE TO MORNING JOURNAL
Clovis, n. NJ, Feb. 12.--CIovis and
the surrounding country has con-
tracted the oil fever which appears
TO be more contagious than the FLU"
For several weeks wild rumors have
been IN circulation regarding the To-
cation of the first oil well to be
drilled in the fabian field located
few miles west of Clovis but up to
this time no authoritative statement
has been made as to when. where or
how this greatly desired project
would he consumated. The men lack
ing that proposition are now in a po-
sition 10 state positively that IN oil
we'll will be drilled soon at or near
the town of fabian on the main line
CT the Santa Fee railroad, somewhere
IL. townships 3 or north, ranges IS
or 80 eest.
For mre than a year there has been
more or less leasing and trading in
leases near fabian and no less than
a half dozen reputable biologists
have pronounced favorably on the
structure there. Some Of the LARGEST
oil companies in the west including
some of the leading subsidiaries of the
Standard Oil company with a capr,
talization of $25,000,000 have had
their scouts there securing leases and
reports of wells to he drilled kept the
excitement alive. But it remained
for home company composed of the
most prominent business men of Clio
Wis to actually start the ball rolling
and complete the arrangements for
a deep test well.
The Clovis Oil company was ncor-
porated this week, with an authorized
capital of $3.50, 100000 and the incor-
porators and promoters include some
of our wealthiest and most progress
i've bankers and business men, They
have subscribed sufficient real cash
to purchase and install a big rig, cap
able of boring a 5000 foot hole. The
sand pump on the rotary attachment
weighs two tons. A splendid 70-horse
power marine boiler will furnish
plenty of steam for all boring pur-
poses. The cable, casing and equip
ment are all on the way. The com
pany has secured leases on 10000
acres of state lands and the citizens
of fabian and vicinity have pledged
10000 acres more. These leases have
been placed in the Pank of Com
merce at fabian on the positive as
surance of having the big rig in
stalled within thirty days.
1t has often been said that a COM
pany is as strong as the men behind
it and if this is the criterion the Clio
Wis Oil Company has a bright future
if the biologists are right and the big
pool is indeed located where the
structure breaks and spreads to the
north and east of Fabian and con-
tinues in a well defined antecline
eastward as reported by a noted ge-
ologist who alleges that he followed
well marked structure all the way
there from the Tamp,co, Mexico,
fields.
Among the leading citizens taking
an active interest in the Clovis Oil
company and who will direct the des-
TIMES of the company there are such
men as C. w. Harrison, president of
the First National Rank of Clovis;
S. A. Jones, cashier of the Citizens
Pank; EX- Mayor Cash Ramey; j. W.
Wilkinson of the firm of Ramey and
Wilkinson; A. w. Skards cashier of
the First National Bank; Arthur f.
Curren, former United States Com
missioner and eX-register of the IT,
s. Land office at Fort Sumner j. f.
L'ndley, capitalist; Charley Hart, one
of our wealthiest cattlemen and
Texas oil land owner, Hugh Bell of
the firm of Curren and Bell; Virgil
Moore, attorney and oil man who has
been boring for oil in several districts
in the Pecos valley for the past two
years will give the company the
benefit of his experience and will
take an active interest in develop
ment work. These gentlemen while
firmly convinced that oil will be found
in the new fields in paying quaint
ties and therefore find the venture
profitable from a financial point of
view. will at the same time have the
good of their home town at heart and
aim to make Clovis the distributing
point and center of activity. If oil
is found in the quantities anticipated
it will make Clovis what Wichita
Falls Texas, is to Burkburnett or
what Fort Worth is to the Ranger
field. The firm Of Patton and Hatch
have been retained to steer the com
pany clear of the legal pitfalls and
an eminent geologist has been en-
gagged to pick out the exact spot
where the drill will be located.