Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-06-16
g GOSSIP OF -,

r,. asmoralizing effect Of the DIS
me oet anorts concerning the Mexican
ouenIs yesterday simply emphasized
oil neioss nes,s sensitive condition OF the
the II also disclosed the extreme
Market. ,ss nreyalent in trading circles
nervouSs",utt nerv,S" utter lack Of confidence, OF the
and the u.s;,;on There have been
mafsss. number Of unfavorable re.
ees.asrding oil fields In Mexico put
ports ~ them we're vigorously con
ths smJ NOS nv those large interests IN the
tiadlc... ~ ynyroncrties. r. i. Doheny,
Me1lean, of The Mexican Petroleum,
presloSnnyy evidently striving to cheek
yssteIJhc,.sale dumping Of that stock
the WV issued a statement emphatic
compsny, the alarming press reports.
slly aes ssiotement. Mr.. Doheny said:
~ ,T,o ~" news published in morning pa
in' ~ merely a rehash of scraps OF an
pec snd discredited history. 1t is part
eient enoaen snu nda TO aid the bears In their
Ho,ss HoSstate Department made the only
ssa s.saI s,otement which Il could make.
d9np a.nort NJ Mr.. Phelan. who is not
my Ine.,oeist or even an oil producer. was
ne result Of cursory trip through
~ 6elds many months ago.
'" nonoo h;s short visit to the fields l4J
no have been and are in progress OF
.g,ns; .l,;,n 10 Many of them are completed.
oIln; Ia n well-known fact that the
ang "completed on Toteco and Nunez
wehs .U ,to omen M rs new territory
on,p' San three times the 40 square
NOR wbicn Is the only territory al
ms.J m.J n in morning newspaper stories
iuuSy' innS which Mr.. Phelan reported as
largely exhausted
.,liciously misquote the estimate OF the
In,orior Department dropping . ciphers
nd stating It to be 4.5OO.Wo barrels
;,stcad Of 4 SOC. 200, 600. which is the
.mount estimated to be in the Mexican
s.lSs by George Otis Smith. director OF
IFS. Geological Survey of the Interior
n.nartment, and which corroborates es-
innate made by me in the annual re-
rnrt of Mexican Petroleum Go. for the
Isst year, which / fixed at approximately
1OOO. .OO0, 900 barrels.
"This quantity Of oil at the average
,ste Of export Of 1920 would continue
ths % exports for forty five years to come.
which again corroborates nv. estimate
tb,t development and production \of oil
will be going on thirty years hence from
thc Huasteca region Of Mexico
California's Big Oil Production
California's net oil production In the
last calendar year increased 3.20S. .SO1
barrels over that for 1919. according
N figures compiled for taxation pur-
noses by the California state Mining
bureau. The figures show that 1O3, =
IS4 734 barrels of oil and more than
n 700O, ,OOO. 900 cubic feet of gas were
produced in 1920 from an area of o.
b87 proved acres.
Since the passage of the Federal
Land Leasing Bill last February about
oOD.00O acres Of Government land have
been filed upon by more than 200 per-
sons or companies under prospecting
permts. according to Il. L. Collum,
State oil and gas inspector.
Denmark's Growing Exports
The New York Trust Co.'S Scandi =
nayian representative reports that sta :
tlstlcs covering Danish exports and i'm
ports for 1920, which are now available,
chow an improvement of kr. $50, 900 200
IN the trade balance, as compared with