The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1948-04-08

Mississippi officially completed
its 1000th oil well during the past
month, which saw q number of
other mighty interesting develop
ments In the States new multi
million dollar industry; the price
of oil took its second and highest
Jump with most companies tipping
paying prices In Mississippi fields
by so cents a barrel; the States
fourth oil field for the year was
discovered. In Wayne County; the
oil severance tax again broke all
records, topping 367, 900, with Ad-
ans and Lincoln Counties clinch-
ing their spots as leading Missis-
sippi producing counties; the first
conservation project and one which
any layman can see and under
stand was completed In the Gran
field Field in Adams County and
the 5 $4,000 0 plant there was ded-
icated to conservation Of the
States oil resources with fitting
ceremony. Other major develop
ments included the discovery Of an
oil sand in the Jackson structure
which caused great excitement in
the central Mississippi wildcat oil
play, additional validating in the
northern part of the State and the
issuance of a statement by Attor-
'ney General Greek l.. Rice, now an
'ex-officio member of the State Oil
and Gas Board, declaring that the
industry has grown to such pro-
portions in the State that he be-
lieves the legislature should give
Immediate and serious" attention
to a modern conservation law and
provide that it be administered by
a full-time board of experts.
Oil Tax Again Sets Record
The oil severance tax report for
November ION October production)
shows 1857 1881 was collected
for the month, taking the tax total
since the tax was inaugurated A
months ago, to $6,730, 742.48 and
assuring it will pass 100000 by
the first Of the new year. This
months collection total Is, Of
course, a new high record, but set
ting new records is hardly news
with Mississippi's Oil industry now.
Although October had 81 days as
against the 80 days of September,
the tax in October was $11,647.68
per day as against $10,430.77 in
September. That meant that for
the month, the tax jumped about
$55. ZOO above the month previous.
Lincoln, Adams In Lead
Leading for. the third month,
South Mississippi counties seem
definitely established as the states
number one producers OF crude oil
pushing Yazoo county with its
lush Tinsley field, into third place.
In the November report Of the
State Tax Commission, oil sever
ance tax division, Lincoln county
is shown again as the leader, with
tax collections of $40, 1876. 70. while
Adams county rates a close sec
ond with a total Of $40 1927. SO, only
$500 under Lincoln. Yazoo, which
has led all other counties ever
since the tax was imposed A
months ago, until the last three
months. slipped into a poor third.
with taxes on its oil totaling $685.
1890. No other county was near
the three leaders, though Jasper
county's Heidelberg field brought
in $44 .359.26 for fourth spot. Lin
coin county, as the leader in pro-
duction and thus in taxes paid.
lists two fast-growing fields.
Brookhaven and Mallalieu, but on
individual fields both Cranfield
field in Adams and Franklin coun-
ties and Tinsley field in Yazoo, are
still the leaders, With 70 wells in
Adams and II in Franklin coun-
ties, Cranfield field accounted for
total tax of slightly over $4,000
to lead all others, while Tinsley
field in Yazoo accounted for $61,-
4s9.94. 1t is interesting to note
that in both Adams and Lincoln
counties, the number of wells in.
creases each month, while in Tins.
ley field the total of producing
wells is dropping; conservationists
warned several years ago tina,
many thousands of barrels of oil
In Tinsley would be lost and never