Year: 1874

Since our last article on this subject
we have examined the various author
tiles on asbestus, and find it to be one
of the most valuable minerals known
and, like everything of great value,
very scarce. 1t is susceptible of being
worked into the finest fabrics; at the
same time, it is fire-proof. If suffi-
cient quantity can be obtained, the
United States Government will issue
the entire paper currency of the coun-
try upon paper made of asbestus, as
well as all documents of great value.
The grosser qualities of as5estus are
now being used for Winter fires. A
few sticks of it placed upon CRATES
with small jet of gas applied to it
city gas-will burn perpetually. One
fire of this will last life time, and if
you were not told to the contrary, you
call it good old-fashioned hickory
log fire. Such fires are now being in
troduced into all the aristocratic
dwellings of the East. This creates a
demand for the article at a price that
will make the owners of the recent
discovery we mentioned very wealthy.
Success to our friends; they are good
men and deserve it. But we must not
omit to speak of our oil interest-the
grandest discovery on the Pacific
slope. We have conversed with the
merchants in San Francisco who deal
in kerosene oil. One firm alone
shipped to China and Japan last year
seven hundred and fifty thousand dol
lars worth of oil. This is the trade of
one house to only two places. When
we consider the number of men or
firms dealing in this article, and that
they have half the globe to deal with,
we can hardly make an estimate of
the value of this trade. 1t is true,
Pennsylvania is now furnishing an
ample supply of oil for all this trade;
but in estimating the value of petrol
cum on the Pacific coast we must take
into account the enormous freight on
kerosene oil. 1t bears a higher freight
than anything known, except powder
and nitro-glycerine. Our merchants
tell us that the cost from San Fran
cisco to Los Angeles is about ten cents
per gallon. With this protection in
our favor, the amount of oil that can
now be gathered from our flowing
springs is an Independent fortune.
Our oil companies are at work with
commendable zeal. They are boring
on one claim, and are down nearly
two hundred feet, with prospect of a
flowing we'll at depth of three hun
dred feet. Other companies are being
formed, and in a few days we expect
to be able to announce that there are
two other wells going down. This is
right, if one fails another will strike
it. The oil has been tested, and all of
it can be made into the best quality of
Illuminating fluid, and some of it is
very good lubricating oil in its crude
state. CARRERAS and CHILDS have
just returned from Lyons Station and
they have determined to use the pres
ent refining buildings refine oil on
the CARRERAs process, as it can be
changed at very small cost to the
Company. That there is very large
supply of petroleum in the San Fer
nando district is known to all oil ex-
perts who have seen and examined.
That it should have remained so long
in its present undevoloped state, is
matter of wonder to all the strangers
who have visited it. We are glad to
have these men of judgment, criticise
our business men as they do; it stirs
them up and gives an impetus to
grand enterprise.