Pueblo chieftain., 1921-05-10
OUR LAST OIL BOOM
The Nsw-Day Deatii.I;cs

stocks Of thrse companies. for tho very
reason that TO AN unusual extent they
'will represent known values.
The undevcioped character OF this
field may sc gauEed from tho fact that
II is estimated TO have a capacity Of
$500 wells. but that only aoo wells arc
now in operation. 1t is expected TO pro-
6uce in all about one third OF bill
lion barrels of oil from the two upper
oil sands which have already been
tapped. Below these are three other
oil sands which can be reached. The
whole product OF the ncld is expected
TO bo not far from a billion barrels of
oil. and II will take about quarter
of n century TO exhaust IL. incidental
ly. when that quarter OF a century is
over. almost the entire oil supply with
in tho United States will probably have
been exhausted. and that struggle for
oil which has become the leading fea-
turc Of tho worlds industrial life and
the loading motive OF its international
politics, will havo shifted forever to
other scenes.
Tho field In described as aftording
good opportunity for thosn who wish
to enter tho oil business. but IL should
be fully understood that this Do an
investment for capital and affords no
opportunities for the man with no
money or little money. Tho prospec-
tive operator mus, bo prepared to pay
down onc-ffth OF the amount nc agrces
to pay tho government for lease. It
In impossible to SAY what the leases
Will sell for. but II is suxg,sted that
100000 might be tho bonus on "A tract
OF SO acrcs. In addition to this. the
bidder must nc prepared to sink wells,
and tho present cost OF sinking a we'll
in the Salt Creek ficid is about SIS. 900.
An Orderly development
Tho prospect. therefore, is for an
orderly development by well organized
companies. This oil field will have
busy and respectable future. But its
past Is not without n touch of romance.
The government investigators, who
have been examining thc titles to var
ious tracts, hsvo uncovered many in
tcrcsting stories.
Tho value OF tho field haa been known
for 20 yolrs or more, and all OF it has
boon taken UP by prospcctors. Some
OF 1t many times. The law requires
that certain amount OF work must
be dono on such n claim II tho CLAIM,
is to be valid. Thcsc claimants wcr.
for the most part poor men. Tho field
is 80 miles from railroad. Boring for
oil is expensive. They were able to
hold mineral claims by digging shafts
with their own hands, but thuy were
not able to bore oil wells. for tho most
part.
In 1908. when the approaching short
age of oil was realized the govern
ment withdrew its oil lands from en-
try. and there wos no provision for
developing oil deposits on government
lands until tho passing OF the leasing
bill In 1870, Now that these lands are
to be leased. the government must pass
upon tho titles of all thcae small ella i'm
andts Many OF them will bo dispos-
scssed because they have not done
enough work to mako good their claims,
hut some Of them have succeeded in
patenting their lands.
Tho field has not boen without it's
romance of wealth. For example, one
man came there as n poor dri,Ier and
took up lnnds lilo married and raise d
| large family and took out other oil
lands in the names OF his wife and