The Alaska daily empire., 1922-08-30
ss,0OO,OOo READY. TO DEVELOP OIL. SAYS J. W. M'C0RD
Three Companies Prospecting and Others Ready to
 Enter Alaskan Field.

To investigate titles to oil claims and clear the way for the entry Of additional oil companies into the Cold Bay field in case of successful drill ing operations. which he is confident will happen. Jack McCord, general manager of the Westward Develop ment Company, and well known Al askan engineer, prospector and miner. arrived yesterday from Seattle on the Princess Louise He was accompan- fed by Mrs. McCord.
 "I can say as result of the ef- forts of the 10 prominent Portland and Seattle business mon cOmpris- ing the Westward Development Com pany, three great oil producing cor porations are now actively interested in the Alaska Peninsula oil fields. They are backing their interest with capital aggregating $9 o00000. Of course. these companies have capital resources to many times that amoun- but that is the sum which they are prepared to exp0nd on the present venture said Mr McCord.
 The companies referred 10 by him are Standard Ol of California, Gen eral Petroleum and the Associated Oil Company Four drills are being landed at Kanatak and men, sup plies and equipment are with them ready to launch operations as soon as it is possible to do so.
 Rush to Beat Winter
 Pooling their resources at Kama tak, the companies are constructing d road leading from Kanatak to Pearl Creek, where the first holes will he sunk It is planned to do winter work in the field but in order to do so men and equipment must be housed against the heavy storms that sweep the district during that sea son. For that reason. said MT. Me Cord, there is rush being made to get the supplies and equipment on the ground as soon as 1t can he done
 In the material. recently shipped was lumber cut into suitable lengths, fitted together and ready to be put up into houses. Mon were supplied with suitable clothing and in fact every precaution was taken against delay. When the camps have been erected, indictment weather will not hinder the drilling.
 Other Companies Interested
 Several large producing companies are watching the drilling operations closely, said Mr McCord If oil is struck they will be prepared to as sist in the development of the field i Included in these companies are the Sinclair Corporation of New Jersey, l and E. l.. Doheney's companies. Mr. McCOrd said he has an engagement to meet Mir. Dohcney ncxt month in the South.
 Not less than $500,000 will be ex- pended in the prospecting operations | in the Cold Bay region this winter by the drilling companies. he said If 1 oil is encountered in commercially | apying quantities the real develop ment of the Alaska Peninsula will begin. At least ore of the compan- ies now interested is said to be ready to erect refineries in the field if the drilling is successful, and plans to take care of its northern and Asiatic trade dTect from the field.
 Credits Northwest Backers
 The history of the entry of strong capital in the Alaska Peninsula dis fricts covers months of persistent endcavor on the part of A. s. Kerry. head of the Westward Development Company, and h.s associates, whose support was enlisted by Mir McCord after his first trip to Cold Bay. Dur ing that period negotiations were carried on thror3h Mr McCord with holders of permits to oil claims, with the companies and with Secretary
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