Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1920-03-27
LONDON FINANCIERS PUZHLIiD
BY COUP.
Unable to Tell Whcthu. German
News is Helpful.

London. March ID. News of the
fall Of the German Government Gauss
cd bcwildcrment in the London fin
ancial world, which is undecided
whether to conStruc this movc as
4 constructive or destructive develop
nient, German marks dropped 40
points here today 20 30S TO the pound
sterling.
1t had become fairly we'll establish
cd in banking opinion here that the
critical period in Germany might pass
without Il revolution, since Gustav
Noskc, Minister Of Defence and gen
ally regarded as the strongest man in
the Bauer Cabinet. was able to hole
cut so long and the revolution OK
pectcd two months ago did not ma
ture
For the time being it is difficult to
determine whether the aid for Ger
many suggested by the allied SUI
p1emc Council will be made easier
through the revolution. If the new
German Government is conservative,
probably it will more readily adopt
the internal taxation and currency
reforms insisted on by the Supreme
Council before outside bankers would
give aid to Germany.
Hardly single geologic condition
is favorable for the accumulation oil
oil near Washington. The usual re
cuisites for an oil pool arc lacking,
and no reputable gcolist would adj
wise the expenditure Of money under
these conditions.
Much of the unwarranted boosting
throughout the United States relates
to areas in which there may ut best
be only Il small chance Of finding oil
and in which the local business men
and citizens are aroused to believe
t.,at drilling will lead to the diScov
cry Of great sources Of wealth III oil
in the home vicinity or county. Pro
positions Of this class arc scattered
widespread over the country and no
enc but the-Fcderal and State Geo
logical Surveys appears to feel any
responsibility in protecting the in
nocent and for the most part, small
investor.
Remarkable as it may seem, one OF
these attacks of local oil excitement
seems to have struck Washington.
One prospective coil field is located
less than ten miles from the dome OF
the Capitol. Advertisements that re
fer to the u. S. Supreme Court and
the u. S. Geological Survey in large
typc do not necessarily thereby prove
the oil character of the lands near
the National Capital. Nor does the III
trcasing demand for oil make the
chances any better of finding it where
Nature did not put 1t.
The facts arc: near Washington
I;,,,,,, ,t,,, nf trlt1pn0llS
and Tertiary age dip gently eastward
and are undcrlain at relatively Shal
low depth by hard crystalline schists
and GRANTEES. These latter nowhere
contain oil. The oil bearing beds
found in West Virginia and Penn
sylyania are not present in this reg
ion. The Crctaccous and Tertiary
beds comprise sands clays and marls
and are we'll exposed around Wash
ington Indications Of petroleum have
never been observed even In these
beds by the Government biologists
who have critically mapped and stu
died the region. Moreover, streams
Eav cut SO deeply into these
nearly flat beds near Washington
that had any petroleum ever existed
II would have readily escaped AND
/ been 1OSt. EuflncIllloic, ltc OH Nv
I turc OF the rocks east of Washington
is such that oil would not accumul
ate. Folds in the rocks-domcs OF
enthusiastically always present IN
commercial oil POOLS are lacking east
OF Washington, whore they would
readily have been observed had they
been present.
On every count, therefore, tho
search for oil near and east OF Wash
:ngton is to be discouraged. Spccu!u
ton in such projects is to be dcplor
ed. Those unwary ones who invest III
such projects are usually the least
able to bear the practically certain
loss Of their hard-earned savings. Nc
person who can not view with PEI
feet complaccncy the entire loss OF
his money should invest in the stock
Of oil companies purporting to eX
plot oil fields near Washington If
indeed anywhere else, and the Geoloe
zeal Survey feels called upon to warn
the public Of the extra hazardous
character Of exploration for oil in
eastern Maryland. 1t may he added
that in this statement The Federal
Survey concms in general with the
opinion already expressed by the State
Geological Survey of Maryland.