The Cordova daily times., 1921-01-19
OREGON MONEY
 WILL DEVELOP
 COLD BAY OH

JUNEAU, Jan. 19.-Abundant capi- tai has been secured for the develop ment of a group of oil claims in the west field of the Cold bay district, according to J. w. McCord, agent for the locators, who has been in Juneau for several days on business in con- nection with the filing of applications for oil leasing permits. MT. McCord, who is an old time Alaskan of the Tolovana, that has produced on an average of a million a year since dis covery, said that the Westward Devel- opment Company, an Oregon corpor- ation, formed December IS, last, is to actively push drilling as soon as machinery and supplies can be landed in the field
 The company is a closed corpora tion and not a stock selling proposi- tion, according to MT. McCord
 MT. McCord stated that although permits have as yet been issued to none of the locators, no trouble is anticipated in that respect and pre- parations are being made to begin actual drilling next season. Fifteen out of p claims represented, are reported by the U. S. land office en- tirely free from conflict and while there are some apparent conflicts on the other seven claims, in reality there are none. "In fact" declared MT. of the Cold bay district are working in harmony and any seeming conflicts will be amicably strengthened out among the locators without difficulty All of them are anxious to get per mits and begin prospecting and there will be no trouble over conflicting claims"
 "The outlook in the field, from the | surface of course, is promising. Four of the biggest seepages in Alaska are | located there. One can wade in oil above his boot tops. Gas seepages also exist. The oil is high grade and of parafine base and where evapor- ation has taken place deposits of par afine substance lie on the surface of the land to a depth in some instances of four feet. This makes fine fuel for which it will be used in drilling operations. The geological structure | is not folded to the extent that is mo- | ticeable in other Alaska oil districts and this with the excellent surface in 1 dications leads to the belief that oil pools will be found to exist all along the peninsula. Actual tests have shown the oil to have about three 1 times the value of California oil" MT. McCord stated that the machin- cry and supplies would be taken into the field next spring by Capt. Peter K. Larson, superintendent of the Nak- ard Oil Land & Leasing Company of cisco. It will be shipped by the way of Bering sea into Bristol bay up the l Fgakuk river and into Becharof lake.
 
 claims are located Capt Larson is interested in the locations. Others in terested in the claims include Jerry Ford, prominent gold mining operator of Iditarod, l.. C. Early of the Stand ard Ool Land & Leasing Company of Electra, Tex, Wallace Cathcart, form 1 70 lao No Bank of Fairbanks and owner of min ing ground in the interior.
 Gus Peterson, of Fairbanks, also has lease in the field. He is one of the most prominent mining men of | Alaska, owning vast tracks of placer mining ground in the Fairbanks and Livengood districts. He is an expert. enced drill man and is now drilling on 2,000 acre ranch he owns in Benton County, Wash. He has been asked to take charge of the drilling operations
 in the field next spring, according to
 Mir McCord.
 Mir McCord commended in warmest
 terms the methods of the local land office in handling applications for oil leasing permits. "All of us who have
 submitted applications to the Juneau
 land office have found Register F. A
 Boyle willing to meet us more than
 half way in every respect" he said
 land he has handled all of them
 without delay. It is a pleasure to en counter and do business with an of