Los Angeles herald. [microfilm reel], April 04, 1910, Page 9, Image 9

About Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911

Image provided by: University of California, Riverside; Riverside, CA

                
Mines and Mining
JAMES WYNKOOP
PROPOSED ARIZONA PIPE LINE
ANNOYS STANDARD-ASSOCIATED
S.\N T FRANCISCO, April 3.—Tho
combinations nf tho great oil in
terests outside of tlio Standard
Mini Associated-Southern Paclflo to
construct .1 pipe lino system from the
Sun JoaqUln valUy oil fields to dis
tributing iioints ill Arizona and Mexl
-10 has created a profound impression
here mi capitalists aiid liifii who en
gage in big undertaking!. Thoy mar
n\ :it the sizo and audacity of tho
■cheme, It Is a stratagem they had
no) dreamed of. or course, na usual,
tho Standard crowd smiles blandly
and the Associated force looks solf
natl«f,vingly wise. They fool not ad
versely disturbed at the announcement
of the big piece of oil news.
This proposed pipe line enterprise,
to croia the mountains and eater the
cli Bert! of Arizona and Mexico, and
there deliver California oil at the
minimum coet of transportation, and
the position of the great, "all-power
ful" Btandard In the oil Industry of
California With reference to the in
dependents, "tho subjects of spoil," are
coming In for considerable enlightened
discussion.
And Hit' Interesting part of theM
discussions Is the conclusion that the
Standard I* no longer a thing- to be
afraid of in the oil business -that Its
management has become senile and
careless of its crown of supremacy or
else Incompetent to "buffalo" tho nil
men of the west as It has done nnd
LARGE PRODUCTION MAY
HAVE TO BE CURTAILED
Too Many Gushers and Inade
quate Transportation Work
Hardship on Business
BAKKJUWIBLD, April 3.— How to
take care of the production of the Mid
way field Is a question that la worry
ing everybody concerned. The J'ro
dticers Transportation company has
lie.en given an Illustration of what may
bo expected of transportation coin
panlM by the action of tho Lakcvh \v
well, which In Bfteefl days produced
twice as much oil us the big tanks
could hold. The Standard is flooded
with Oil and has the production of
tho Mays and California Midway, both
big producers, to rare for. It Is re
ported here that the company will at
onctJ begin the construction of ■
ond eight-inch line out of the ti. Id.
Tin- Associated Is rushing Us pipe
lino In from McKlttrick, but Will not
be able to take care of the oil foi
acme time to come, it begins to look
like a cast) of dosed in wills and cur
tailed production for someone.
TAKT, April I— An embarrassment
of riches) threatens the Btandard In the
Maricopa and Midway field*. Tlie com
pany has a pipe line capacity Of W0
barrels an hour, 21.600 a day, and a
Ntorag'< of 320,000 barrels, (if late tho
company has been getting an average
of 8300 barrels dailw from one Well,
its own No. | on section 10, bMldee tta
oilier production in the Reid.
In addition It has contracted to tako
(are of the production of the Hawaiian,
Mays and California Midway, all In the
Rusher class; tho Honolulu, United,
iOkgle Creek, Ethel D., M. & M. and
Mum' smaller producers,
Kltlier the Hawaiian, California Mid
way or Mays, all of which are ready
to open, can be depended upon for an
immense production Judged by past
performances, and tho Maya and Cali
fornia Midway together would quickly
exhaust tho storage capacity of tho
company.
STANDARD-ASSOCIATED
HOLDS UP BAY PRICES
SAN FRANCISCO, April 3.—Not
withstanding Uio present undenlanlo
overproduction, both the Associated
and the Standard are holding up prices,
quoting those rates to buyers which
ha\e prevailed at bay points foi several
weeks past.
There has been no slaughtering nor
hint of such action. Instead of taking
advantage of the producer at a time
which, if not critical, could easily be
made so, these two giant marketers
are maintaining an admirable poise
and by non-activity are assisting great
ly in protecting the values contained
in tho oil man's commodity.
In this connection it is said that
neither the Associated nor the Standard
hat Riven any Indication, so far, since
the .Midway fleld demonstrated itself
t< be so gnat, that a move to cut
prices at the well was being considered.
CALIFORNIA OILFIELDS
IS ON ARIZONA LINE
SAN FIIANCISCO, April 3.—Accord
ing to authentic reports the California
Oilfields, Ltd., counts Itself In on the
plan lately announced at l.os Angeles
to build an oil plpMine from tho San
Joaquln valley to Arizona. This line,
11 is a foregone conclusion, will operate
in conjunction with the Producers 1
Transportation lino to Port Harford,
the two making up, virtually, a single
it is not likely the I.imlted's
production will ever see Arizona, Its
oil will take the place of other oils in
the north markets, and these will go
to the mines. The addition M the
CJmlted'a 12,000-barrel a day produc
tion will absolutely Insure the opera
tion of all tho allied systems up to tho
limits of their capacity.
As is well known, the Llmlted's out
put is refining oil, but this can bo
handled by the Union's refinery at
Oleum and tho heavier stuff now being
run in that plant could be made to
supply the fuel market.
IN FIRST CLASS GROUND
TAFT, April Ten acres on the
past have been added to the Midway
Five lease, section 5-32-23, making a
total of thirty acres. M. H. Henning
sen president of the company, has as
sembled all of the material for the first
well and the work of building the der
rick and setting the boiler will begin
at once This is about 2300-foot terri
tory and Mr. Henningsen hopes to fin
ish the well in eight-inch.
Midway ►Five .adjoins the St. Law
rence' on the ; west and is looked upon
us flrst-class territory. ■
is doing Hie oil men «n<l everybody
else in the east. This great and wfin
fie.fuiiy distorted corporation, with
belts iind belts of s'-alps nt its wai.xt,
Ik knocking along In California, in a
sort of sin even tenor way, asking to
be let alone and occasionally hinting
dire prophecies and generally bow
wowed condition of the oil business
on thin coast, and warning Its personal
friends to keep their money out of the
business.
in view of tiu> Btendard'i (allure to
simw any disposition or to make its
old time "Rood," tho question Is being
seriously risked, "Was not the Stan
dard* power and strength made easy
and luxuriant by generally lying
flown, the giving up of everybody at
tho mere proclamation of its coming?"
Its failure to stampede; and drive out
the westerner! is furnishing many
prominent proselyte! to the belief that
tho great saucer-eyed BWallOWer hM
been the king buffalo of the age, for
the first time it ran up against men
who would stand was in California,
and here it ceased to be a factor of
danger or molestation.
There arc Just now many hats going
up to the independents. That im
mortal little band fiat made the
famous Stop In i:>o4, when the Inde
pendent "11 Producers' agency of Kern
county was organised, Is corning In
for much praise of courage and clear
headed foresight.
AMERICAN OILFIELDS
DEVELOPS FREAK WELL
Fluid from 970 Feet Fills Fifty-
Barrel Tank in Forty
Minutes
taft, April 3.—The American <>n
fields ccimpany lias ;i freak well near
the center of Its east lino of the south
west quarter of section 36-31-22, us
compared to other wells In that local
ity. At 970 feet a light oil Hand was
entered with sufficient gas pressure to
make the well flow. Tho oil, which Is
uf H gravity, tills a 80-bexrel tank In
forty minutes whenever tho valve Is
opened. It is being used to supply fuel
for drilling operations. The well,
known as No. 73. Is rated at 1500 bar
rels by the drillers, but K. J. < CDonnell,
superintendent on W, considers that
rather high, it reached the sand with
B single string of. 12-inch rasing.
W"]| Wo. «7, a short distance north
of 7.1, reached the oil sand at 1200 feet.
Well No. so. In the southwest corner
of the northeast quarter, is two sfreus
into the »and at IMO feet. In No. 61,
In the southeast corner of tho north
weat quarter, water is being cemented
Off at l-'ifiO feet.
<in .section 16-32-23 the company has
a strong MO-birrel well producing 15
gravity oil and Is down 700 feet with
16-lneh stovepipe In No. 7. Six strings
are running on 36, two on 16, two on
11-n-SS, and nno on 18-31-23.
Superintendent Harding, formerly
With liif Monti' CrUtO and who Roes
with the American to superintend op
erations on tho ground recently pur
chased from the Monte Crlsto. is rlmvn
L'.'.rifl feet with the well on 31, and is
cementing off the water at 2030 in No.
7 on 3-. Tills well is near the Lake-
View gusher, which is 2230 feet deep.
On the Cousins lease at McKlttrlek
the American oilfields Is Installing an
air compressor.
BAKERSFIELD PLANS
OIL STOCK EXCHANGE
Scheme Grows in Popularity and
Organization May Be Perfect
ed Without Delay
HAKERSFIKLI), April B,—Unless the
most encouraging of signs fall Bakers-
field will have an oil exchange within
a very short time. The suggestion was
made by Bon A. Hayden and was In
dorsed by J. C. Robertson of the linn
of Donnellan, Robertson & Co , P.
O'Brien, Kenneth Donnellan and a few
iit hers. livery man spoken to virtually
signified his approval, and telephone
and telegraphic communication with
outside cities showed a remarkable
unanimity of sentiment approving the
plan. San Francisco gave indorsement,
Los Angeles sent word that thirty
members woujd sign up immediately.
Three wires came In from Uoldfleld
asking for reservations and a number
of representatives of Now York curb
operators signified their intention of
taking seats. One Philadelphia broker
age house asked that its name be added
to the charter membership.
The design at first was to limit the
membership to 100, but before night
fall the number, including those who
virtually became members and those
who can bo confidently dependod upon
to give support, had grown to 170, and
it was seen that the original suggestion
was not wide enough In its scope.
(Charter membership fees have been
fixed at $50, but the fee for listed stocks
will be merely nominal, admitting
every legitimate company or firm en
gaged in the business, without en
trance penalty. The listing committee
will consist of men thoroughly known
in the oil business, with unassailable
reputations for integrity and honesty
of purpose, and nothing but companies
run on the square and dealing justly
with the public will be traded in.
Either L. P. St. Clalr or Tim Spellacy
will be chosen president.
.« ■ >
STOCKHOLDERS SUE
FRESNO, April 3.—A suit was
brought here by the non-consulted
stockholders in the Madera Oil com
pany against the officers and the mi
nority stockholders to prevent the sale
of an oil claim In the Coalinga field
for $100,000. It is asserted that be
cause of the discovery of oil adja
cently the claim Is fairly worth $200,000,
and that while the option holder, a
.stockholder in the company, knew of
Hi. discovery, he withheld the Infor
mation while pretending to be acting
for the best interests of. stockholders.
LOS ANGELES HERALD: MONDAY MOHMXfi, APRIL 1, 1.91.0.
Completion of well on
Coalinga Crude Oil means
big advance on Exchanges
Coalinga Crude Oil Company stock has been listed on the Los Aageles Stock Kxchange
at This Astook"haji beort listed at this time, prior to bringing in the first well on this
property, In order to enable the public to secure this stock at its initial low prices before
the advance occur?, which usually takes place with tho bringing in of the first well on
"n As a'ru'l. rtwhen a company has had production and its stock Has been listed for some
time the chance to make Initial profits on the .stock has usually passed.
The Coaltnga crude Oil Company own and are aggressively developing a splendid
piece of absolutely proven property in the shallow part of the Coalinga field. Their
water well lias been drilled and completed, and they expect to finish their first oil well
' °\Vn recommend tho purchase of this stock now at the present market prices between
30c and 86c prior to ths time of bringing In this first well, because when that event
Occurs pH'-os on this stock are bound to be very mu>-h higher.
Production possibilities from properties in leotlon 20, where th-i Coaiinga Crude,
property is located, are so well known that returns can be figured to a nicety. Ex
perts place the earning power of Coalinga crude stock at at least two per rent per
month On par when the property is develo 1. Such an earning power on this stock,
which now ran be purchased at about one-third of its par value, makes thi* an ex
tremely deferable investment for dividends: and if the stock is bought now before the
bringing in Of the first well, large profits in appreciation of value should be made.
Th<- Company is conservatively capitalized rind efficiently managed; the actual field
work being under the direction of Mr. Charles Spurlln, formerly Superintendent of the
Standard Oil Company.
We suggest immediate action by those who are interested. You can purchase large
or small amounts of this stock through siny broker on the I-os Angeles Stock Kxuhange,
or we will (ill your order at the market price of the day received.
Full particulars of the Company; its organization, properties and development work,
with rnnps and photographs, will be furnished upon application by person or by letter.
Pacific States Guaranty & Land Co.
614 H, W. Hellman Bldg.,
Los Angeles
MONTE CRISTO LAND
ADVANCES IN PRICE
Since Doheny Purchase Offer of
$500,000 Above Cost Has
Been Made
Since completing the. deal for the
Monte cristo land, the American Oll
delde has had the opportunity to sell
for ÜBO,MO advance over the purchase
price. Negotiations for this tract were
taken before the big gusher came in
and the consummation of the deal was
delayed because "f the objections
raised by some of thOM interested to
buying so much high priced land.
The result was the coming In of
Standard wells dose by and the figures
were advanced. The I,akev|ew gusher
has raised the value since then still
more and It could not be bought for
a good deal more than the American
> liitields paid.
The same objections to high prices
has, In the cane of a good many other
concerns, stopped a few other good
buys. The great strikes on the Hat
coming so thick and fast have, called
attention to this condition. It is not so
lung since a number of men whose
opinion was considered valuable were
suspicious of the Monte t'rlsto land
and of all to its east and northeast.
If the truth were ever ascertained it is
likely that It would be found that
Quite a few good chances have been al
lowed by big men to slip by.
The Monte Cristo land was once
owned by the Superior Oil company,
now out of existence, which sold it for
"a song " There arc quite a few stock
holders who feel .sick every time they
hear the last deal or the Lakeview
gusher mentioned.
\V. P\ chandler of 9elma controlled
the Superior. ___.
NEWLOVE ON PUMP
PANTA, MARIA, April 3.—The Union
has just put Newlovo No. 35 on the
pump and it Is good for about 800 bar
rels dally. Work is slow on No. 23
Newlove, which is at the extreme cast
Of the lease on the Los Flores line and
Is considered » test well.
New Bungalow
SIX ROOMS
—-Easy Terms
$3850
On Klngsley drive. In most popular neigh
borhood, on lot 60x150; modern In every re
spect- hardwood floors throughout; Western
avenue car line and just right distance
from town. For further particulars call
Main 496: Home 10963.
Home Builders' Realty Department
40 1! MASON OFEBA lIOL'SE.
Manufacturers of Flower Pots, j
All Sizes to 24 Inches.
Hanging Baskets. All Sizes.
Hanging baskets, all sizes. Fern
pans. Lawn and cemetery vases. Stove
flue thimbles. Ollas in all sizes; fill
with water at night and have ice cold |
water next day that will keep cold If
kept In a shady place. Special ware
made on short notice. We carry a
largo stock and can fill orders prompt
ly. Phone East 50.
J. A. Bauer Pottery Co.
Avenue Thirty-three and Lacy street.
HI 10 Reasons A I
Vnii be asked for in "'"^HiPr
JB>a!is 401 to 407. Is It Interest we X
ff pay? Is It courteous treatment? wk
ft Is it they feel more secure? ra
ml I, it because they know the offl- ■
W ocrs? Is it because we are a con. U
■ venience, a novelty or a necessi- VI
& ty? Get ready to tell. If you ■
M haven't opened an account you do m
■ not know what you are missing. ■
\ALI NICtmMU
arJ3fJ^.B^ Jr\. \
TSffi&ll? 6TII AND SI-lUNG. 3*6 \j^y
I Oleum Development Company
The best speculative purchase of all the
oil stocks. Full Information furnished,
and orders executed by
Fielding J. Stilson Company
. 305 H. W. Jl'lliiimi Building. ..:;
A"547 ' * " Main 105.
CLEARING HOUSE BANKS
' 'NAME ' '__ OFFICERS.
United States National Bank i? Afasmith!^'cainiti £%?.
. . »" ■ capital, 1800.000.
B. B. eorn»r Main ana Commarelal. Burplua and Proflta. HI.OO*.
C. it . H J. WA'ItKS, rrcßlilanC
•uiens rational sank v. i w. woods, cubia*.
■ , ..",J „.-,' ' Capital. 11,000.000.
« W. corner Third ana Main. ] Burplui. WOO.OOO.
G. Bank newman bsiick. cuiitar.
ommociai National Bank newman essick. cubiar.
capital, izoo.uuo.
<»1 B. Spring, eern>f Fourth. 6urp!-j» and Undivided ProHH. t«.0»%.
Farmers & Merchants National iiank I. 'V HIJI.I.MAN, ITaaldent.
armers & Merchants National dana cBarucs> retubji CMhiar.
\ ' Capital. 11.500.000.
rorrmr Fourth and Main. Surplui and Proflti. lI.Xtt L 0««.
~ ; ; r : ~ J. M. hH-l-1011, President.
.ist Na ional .bank tv. t. s. iia&imond. cvuuaa.
Capital Stock. 11,280.000.
B. B. tamer Rucond and «prlnir. Bii lv» »nd Prnflti. ll.tM.OOt.
: ~ : TTT W. H. IIOL.LIUAY. PraaldMt.
erchants National Bank chas. orekndl cuhiat.
Capital I200,00>).
? . T. ♦ornar Th'rd, and Wprln«. Surplus & Undivided ProflU tei».Oo»
-ationai Bank ot Cahiornia - b. p. hckeb. ouniar.
N l, ; ~l — rr, Capital. tSOO.OO*. Fraaldaab.
ationai Bank ot Cahiorma b. p. mkefj. cuniw.
Capital. $600,000.
V IC. rorn«r Fourth and Bprlnr Sin plus and Undivided TTont» 1180.000.
C, -, , B. F. ZDMUKu. prMldent.
...i national Bank , jamf.h b. oibt. cuniir.
, ■ ■• • Capital. »300.00 a
H. T. rorn*r Fourth anrt Broadway. Snrpliin and UndlvMM rroain. ntf.M*.
B.aow y JtJank <k Trust Company la^^a^&£T"* M>
Capital. »2».ooo.
I<i«-Sin Broadway. Bridhury hul!dln« Surplus & Undivided Proflti. 1225.00*.
LOS ANGELES SAVINGS BANKS
ir^figE CURITY -—«
Having s RANK
1 Largest and Oldest in Southwest
Resources $28,000,000.00
I Para the highest rates of Intercal and on the moat liberal terma contlateal
. 9 with aeond, ronaervative banking.
H Money to Loan on Improved Real Estate
f Security Buildinc Spring and Fifth Street*
CERNAN AHEBIUMIAVINCS BANK
•^gapP*" TtiL BANK WITH THE '^BSSMjj?'*
ZP"" EFFICIENT VfITHI THE — IHIJI" 1 '"
EFFICIENT SEftVICG
JTg>RING m AND FOURTH ■*"* I^'
LOS ANGELES TRUST COMPANIES
Merchants Bank and Trust Co. ££ c^ SSSS
Branch: Hoover .tree, 209-11 S. Broadway Transacts a Qeneral Bank
-2426 South Hoovar »tre«t. iU>ll J.DIUdUWJJf i ng H[lll Tru?t Business.
All Eyes Are on Arizona Mines
We know the country. Write us for free booklet.
J. E. MEYER & CO.
902 Security Building Los Angeles. Cal.
.
f G.E.AVERILL 1
The Oil Man
has removed to 626 W. P.
Story Bldg., Sixth and Broad
way. See him for
Midway
Lands and Leases
PHONES: FS44B; Main I*ol.
V J
Our board of directors has authorized
a public offering of our treasury stock
at
30 CENTS A SHAKE
Los Angeles-McKittrick Oil Co.
221 I. W. Hellinan Bids.; Fourth and Main
' ' streets.
OIL Stock 15c a Share
The BOOK ISLAND OIL CO. announce that
for a short time only Its treasury stock will
be offered for 15c a share. "A Hundred
Barrel Well Is Worth »100,000." ROCK IS
LAND OIL CO., 410-417 I.aughlln Bldg., 315
South Broadway.
It's as easy to secure a bargain In a used
automobile,' through want advertising, as It
used to be—and still Is—to ' secure a horn*
and carriage,,.
Maricopa
Gushers
, A new oil company is being or
ganized to operate in the cream of
the Midway-Maricopa Oil Fields—
In the giant gusher territory.
We offer a small block of pre
organization stock to cash buyers
only. We have opened books for
subscription at be a share. This is
an exceptional chance to get into
the Midway-Maricopa Oil Field on
good ground with a good company.
An oil proposition run by oil men.
INTERNATIONAL
INVESTMENT CO.
1012-1018-1014 Union Trust Building,
Fourth and Spring at«., Los Angeles.
i . ■
Pre-Incorporatlon Stock at
8 Cents a Share
Subscriptions will be received by the
undersigned, acting for the Incorporates of
the company.
F. B. WOODRUFF, Attorney,
515 Central Hldg., Sixth and Main sts.
BUY NOW
At 10c a share STOCK THAT IN SIX
MONTHS should be worth ONE DOL
LAR
HYGRAVITY OIL CO.
404 Story Building.
■established 1807. Home Phone A 1405
Bank References. Sunset Main 1211.
BALDWIN & CO.
232 San Fernando Building,
Oil. LANDS," I.KASKS AND MINKS
i Producing, Properties. Bought and. Sold.
ONE HUNDRED DOLLARS
WILL GROW
IN
SIX MONTHS
TO S
QNE THOUSAND DOLLARS
$$$$$$$$$$$$$$$
OIL
Public subscription to the stock of
the Hygravity Oil Company opens
at the office of the company on
Monday, April 4th, 1910.
'A new company having just been formed to operate in
Ventura County, California. Having 1120 acres.
VALUE:
The value of this land alone makes it a good buy; this
is proven territory with the possibility of opening up
an entire new poo! of OIL owned entirely by this com
pany. California Oil deposits lie in great beds that are
remarkable for their comparatively great depth of rich
OIL lakes.
OPPORTUNITY:
California is the most important OIL section in the
history of the world, three-quarters of a million dollars
disbursed monthly to stockholders of California OIL
properties.
You can purchase now at 10c per share stock that
in six months will be probably worth par. (One dol
lar per share.)
This is your opportunity to start on the road to pros
perity, by coming in on the GROUND FLOOR.
The company is capitalized for $3,000,000, divided
into 3,000,000 shares of a par value of $1 each; $1,
-000,000 will remain in the treasury. This first block of
stock is offered at 10c per share.
It is expected that this ground floor offering will be
' subscribed in a few days. Subscriptions will be en
tered and allotments made according to the order In
which the applications are filed.
An early interview will prove of mutual advantage,
as it is certain that a closer knowledge of the organiza
tion, land and locations will convince the investor of the
advantage of owning some of this stock—a reasonable
amount of which is almost sure to make early purchas
ers rich in proportion to their holdings.
STOCK WILL ADVANCE:
Only a limited number of shares will be sold at 10&
Stock should advance within thirty days.
CONVINCING PROOFS:
The organizers of this company are backing the judg
ment of practical oil experts. The investors' money will
go into the development of the property —in this com
pany no salaries will be paid to the directors. Upon
application we will give the opinions of practical,
scientific and „ise investors who know the property.
Hygravity Oil
Company
404 Story Building
Sixth and Broadway Los Angeles, Cal
Hygravity Oil Company,
404 Story Building, Los Angelea, Cal.
I hereby subscribe for shares of the Capital
Stock of your company and agree to pay 10 cents per sharo for same.
Name • •
Address
9