The Alaska daily empire., 1920-06-10
JUNEAU men HEADING
HUGE OIL PRODUCING COMPANY
EXPLOIT ALASKAN FIELDS

4 Two new oil development corpo-
} rations, headed by former juneau
mon and other Alaskans have re
Gently been organized in the States
with capitalization to the amount
of S3,500,000 for the purpose of en-
tering Alaskan oil fields, according to
news article appearing in in re-
cent issue of the San Francisco Elk
aminer. Bart l.. Thane. formerly
General Manager of the Alaska Gas
tineau Gold Mining Company is Vice
President and Managing Director.
and William S Bayless, formerly at,
itorney of the Alaska Gastineau, is
| Consolidated Oil Fields, incorporated
for $2,500,00O. Falcon Joalin is a.
| the head of the other company
which is capitalized for 81 600, 900.
A full account of the new corpo
rations IS contained in the above
| mentioned story follows:
| Plans were perfected in this city
| and Seattle today by which four
trained biologists, borrowed" from
| the big oil corporations of California
and Texas and backed by $3,500,000
OF San Francisco. Seattle<and New
York cash. will begin this month in
the Alaska fields a hunt for large
oil pools of As degrees gravity oil
and net in gasoline and varied high
priced lubricants which DR.. J. C
Martin of the u. S. Geological Sur
vey and Major Albert C, Brooks Of
the Bureau of Mines are positive can
be found there.
New people are engaged in this
expensive search and they expect as
reward the development of wells
rivaling those of Pennsylvania in,
gravity, quality and value.
Two companies have started this
quest, one being the Chilkat Oil
Corporation of Falcon Josln and
his New York associates; They have
subscribed $1,000,000 cash.
S. F. Company
The other company is controlled
by prominent San Franciscans. The
latter, it became known recently with
the arrival Vi II. " Ildl lIIliH, VI
Washington, D. c., and Seattle at
the Palace, have organized the AL
aska Consolidated Oil Fields with
charter from the State of Wash
ington, and given a capital of $780,
600
One Million Acres
There are 100000 acres of poten-
tial oil lands in Alaska, and the latter
company under the new leasing act
of Congress has acquired title, to
5000 acres near Cooks Inlet and
close to the rich coal fields where
the same rich formation exists as
| is found in the Pennsylvania oil
| and coal region.
Five Oil Regions
There are five known oil regions
| in that territory extending from
| the Alaska railroad over to Cape
| Yakataga on the east.
Falcon Joslins Chilkat company Is
already producing 100 barrels day
which at a small refinery is produc-
ing enough gasoline and distllate
to make each barrel have gross
value of from SO to $12.
Nearby, is the San Franciscanc
property. and it is the San Francis
cans and their Seattle and Eastern
associates who have determined or
a scientific drive to find what they
believe will be one of the big OF
pools of the world in A degree
gravity oil.
: Officials Named
!: r. l. Thane of this city is vice
president and managing director o.
the Alaska Consolidated Oil Fields
while Judge Frederick Bausman, 81
Seattle is the president and II. G
Peak of this city is the vice presiden
and manager William l.. Baylosf
!: of this city is treasurer.
Other local people in the company
!: are Walter W. Johnson, William II
4 Christie, Frank r. Short and William
4 II. Esterbrook.
H. r. Hartman of Washington
D. c.. and Seattle is partner and
also the company's legal advisor.
i Esterbrook and his father are con
sidered the gold dredge kings of the
world and have the worlds largest
! gold dredger in the state. Short
and Thane have international repr-
| tatiOns as mining engineers.
| Christie. the only mayor Emeryville
across the bay has ever had, is one
Of the millionaire mining men of the
West; so are Johnson and Peake.
II was the latter three who organ
tied the Union Construction Company