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Show THE SUN, PRICE, PAGE SIX RIO GRANDE 18 EASTERN ME 10 UTAH OIL SITUATION officials visit price and OTHER TOWNS IN FIELD. Opinion Expressed That Utah Is Destined to Exceed Wyoming Land Board Still Busy Issuing Leases, Mostly Around San Rafael Swell-N- otes and General Oil News. Frank A. WaJleipli, (lassengfr traffic manager of the Denver and Bio Grande, and George L. Kean, official stenographer of the road, were in this city last Saturday from Denver, Colo., investigating the local oil tielda and acquiring data as to the activities looked for throughout Sou and Eastern Utah the ruining few months. Their trip was a general one and while in this section they visited Moah, Green liiver and the well of the Ohio Oil company at views Photographic Huntington. were taken at all places by Bean that are to be used in the publications of the road. Wadleigh called on The Sun while here and in a visit of but a few minutes expressed the opinion that Utah ia to have a greater oil production in time than Wyoming now baa. lie and Lie road have been for boosting the game incessantly months. After oil, shale ia coming in for much attention. Both are aa yet, in hia opinion, in their infancy. The field ia simply immense. Wadleigh gave the assurance that hia road ia making every preparation for the increased freight and jwsseuger traffic which may come as a result of sn oil strike snywhere tributsry to his line. MEN OF SON FLAN VISIT TO FIELDS BUSINESS Accepting the invitation of the Price and the Huntington commercial clubs to lie their guests on s tour of the Huntington and San Rafael oil members of the Suit Lake Stock and Mining exchange plan to declare an extra holiday on the exchange Saturday, March 26th, and Siend three days in familiarizing themselves with the (mssibilities of ('arhon and Emery eouutiea, says Sundays Tribune. In the natural course of events the exchange will lie closed March 25th, because of Good Friday, and by declaring the following day a holiday the members will have three days available for the excursion. Uuder the arrangement now in effect the excursion will be under the direction of the mining exchange aud reservations for accomodations should be made through it, but a blanket invitation to (tartiei-jiat- e in the event is extended to all business men of the city. The arty is scheduled to leave Friday morning. March 25th, at 8:10 o'clock, over the Denver and Rio Grande, and to arrive at Price about 1:30 o'clock in the afternoon. Pullman aleeitig ears are to be nruvitled s for the tarty so as to insure while in the oil region. Friday night the visitors are to he the guests of the Price Chamber of Commerce at a lmnquet and at 8 o'clock the following morning automobiles will lie supplied by tke Price and Huntington clubs fur the trip to the Huntington and San Rafael fields. It ia planned to go to the heart of the Swell by motor car and return to the San Rafael bridge, recently completed east of Huntington, for lunch, which will be supplied by Price and Huntington residents. Saturday afternoon tlie Hunting-to- n field, where the Ohio Oil company ia drilling, will be visited, and that evening the members of the larty are to be guests at a dinner given by the Huntington Commercial club at Huntington. It is understood that those who rare to remain at Htintiug-to- n overnight will be irovided with ample accomodations and will be furnished automobiles for a trip to the Swell Sunday. It ia expected that most of ths visitors will return to lrire for the night, but aoma undoubtedly will avail themselves further of the hospitality of Huntington Helds, uceomo-da'.ion- PTAH-EVE- BT teruoon for the return trip Lake City. Still Mon Leases. Utahs state land board last Fri- oil leases in day approved twenty-fiv- e Grand and Emery counties, most of thene being included in what is known as the San Rafael Swell. The leases approved are Nos. 124, James J. Burke; 125, the Sequoia association of Green River; 126, Henry EL Godwin; 127, George W. MeCall and others; 128, William G. Madge and Arthur D. Knowlton; 129, David C. Dunbar aud others; 130, Equitable Real Estate and Investment company of Price; 131, J. M. Ilearley; . 132, Benjamin B. Hall; 134, C. Beardslee ; 135, Herbert 8. Auerbach ; 136, Herbert S. Auerbach; 137, Herbert S. Auerbach; 138, P. K. Goddard and Floyd ltetts; 139, B. J. Silliman (the Xequuia association of Green River;! 140, Fred S. Auerbach; 141, John Y. Smith; 142, W. V. Hanks: 143, W. II. Clark; 144, W. H. Clark; 145, W. IL Clark; 146, John B. n Thoniison and others; 147, B. J. (secretary of the Xequoia association of Green River) ; 148, Arthur D. Knowlton, and 149, Arthur D. Knowlton. Sili-ma- Structures Near Delta. DELTA, March 12. During the past few weeks a number of oil pros-- I iec tors have been quietly looking over the field here and local oilmen are very enthusiastic over the possibility of a number of wells being driven during the eoming spring and summer. At several places in the Pahvant Valley oil has lieen found in small quantities and these spots are now being investigated by experts. DOINGS OF THE OILMEN THROUGH EASTERN UTAH E. B. Hyde of Salt Lake City, who recently formed the Mexican Hat Oil company for developing big holdings in the Moab country, visited that section last week. He says his company is soon to send a rig in there. Stockholders of the Standard Oil company of California have voted to issue $15,060,000 stork of the corporpeople. The sleeping cars reserved for the ation to be sold to employes, who will excursion will be attached to the Den- be assisted in (laying for their stock ver and Rio Grande train leaving by a bonus from the company. The Price about 3:25 oclock Sunday af- - new issue will bring the total capi- - .Y. .C. .C. .C. .S. .C,. .S. aC. A. .C. .C. aC. .C. C . S. .O. W. .. t .. f X JJ By IRA C. TICIIENOR in the Salt Lake City Telegram T Judging from the character of the companies already operating in the propective oil fields of Utah, of those which now are completing arrangements to begin development work and of still others which recently have been incorporated or are planning to extend their scope of operations by utilizing companies originally created for other purposes, it is confidently expected that the coming oil boom in this state will be more than usually free from the operations of purely stock selling companies. Concerns of this character have caused heavy losses to investors especially those of moderate means during the periods of oil excitement that have been experienced in other states. They spring up like mushrooms and then disappear after collecting a few thousands of dollars from the people who can least afford to lose any money, and therefore are the ones who are the most desirious of making a nice sum in a legitimate manner. Companies of this description not only rob those who invest in their stock with the expectation of at least getting a fair run for their money, but they cast a reflection upon the oil industry as a whole and make it more diffii-fu- lt for companies honestly formed and managed to finance their affairs and purchase the necessary machinery for active drilling operations. In addition to the high character of the companies already-formewith the intention of entering the oil business in an honest and businesslike manner, and which can be considered a good start in insuring clean promotion methods in connection with the coming activity, the securities commission has adopted a rule which will make it more probable that Utah will escape, to a great extent at least, the operations of the "fly by night concerns. This rule, which is added to the strict regulations that must be complied with before permission is granted for the sale of stock,: provides that any promotion of stock or that which might be issued for the acquisition of land holdings or machinery shall be placed in escrow for a year, as a means of protecting the investors from the possible jsale of promotion 6tock at a price under market quotations. It is understood that members of the commission have given the assurance that when any company which becomes fully financed and has begun operations in a logical manner the promotion stock will be released from escrow. With such a rule in effect and added to the previously enforc-- . ed rules adopted by the securities commission and the provisions contained in the act creating the commission, it is confidently expected that very few, if any, of the purely stock selling concerns will be able to gain a foothold in this state. In this connection attention is called to the fact that companies formed in other states to operate in Utah.or those incorporated here to operate outside of this state, must obtain the approval of the securities commission before selling stock in Utah, which not only protects the investors, but in a way places such companies on a par with other companies which meet the approval of the commission. As declared on previous occasions, an investment in oil stocks is a gamble. Or perhaps the word chance should be used, for it is perfectly legitimate. However, the returns often are so immense that the investments as a rule are ridiculously small in comparison with the profits realized. This fact, however, should not lessen the efforts to protect the investors or the care of the investors in protecting themselves by refusing to buy stocks of companies which have not met the requirements of the securities d mPAT.MABCHlija I" 4 $ I 4 t Y ? ? t Y Y Y ? Y t t both through repetition and demonstration of quality inseparably associated with Castle Gate and Clear ( Creek Coals, the best fuels for all purposes. twenty-fiv- e years ago Castle Gate and Clear Creek Mora the favored Utah fuels and throughout the yean have maintained their place. boy coala now wise to keep the bins filled with Its wiseortoClear Creek or both. Castle Gate This phraaa ASK YOUR DEALER UTAH FUEL CO. Minersand Shippersof Castle Gate and Clear Creek Coal exclusively Y ?Y ?? Y X talization of the Stsndaf3 up to. The stockholders also $115,000,000. the par value of reduce voted to lave the the company ' stock from a hundred doldollars a share to twenty-fiv- e Glass lars. Salt Lake Citys real estate exBy SENATOR GEORGE H. MOSES, of New Hampshire. change was last Saturday told of the jKHisibilities of the San Rafael Swell section as an oil producing area by The present plan of compensating postmaster of; George II. Watson, one of the states leading mining operators, who has the fourth class, adopted in 1883, is by a system of A tieen investigating the Eastern and percentage of the value of stamps cancelled on out. Southeastern fields fur the past four weeks. Watson has great confidence going mail by those postmasters. Ibe incoming sad' in this section's future. outgoing mail in those days were, very nearly equaL' Developments of remarkable inBut the introduction of the parcel post increased the terest should occur during the sumvolume of the incoming mail without compensation. mer in the Uintah oil fields, according A conservative estimate would place the inooming mid to Lyman D. Pettit, president and the associaliado general manager of the at six times the number of pieces outgoing. tion, which holds near Dragon, under The plan which I propose for compensating tia the old placer mining law, a total of class of postmasters is based on percentages of receipts four thousand nine hundred and sixty acres. Conditions indicating the It follows the me plan used in determining salaries of postmasters of ft existence of oil in commercial quanfirst, Becond and third classes. It secures the same results as a isliij tity could hardly lie more favorable to ft than those in the Uintah field, said plan while avoiding its discrepancies. It assures accuracy, reduces and their detection Pettit at Salt Lake City last Satur- minimum the possibility of mistakes and assures day. So favorable are the indica should any occur. It requires no extra blank forma, books or rections that a number of subsidiary and reduces to the minimum extra work for both the Poetoffice de companies of large oil corporations ords, are either planning to start drilling partment and the postmasters. It removes entirely the possibility of dia immediately or making reconnaishonesty, as receipts are recorded and checked quarterly by the audita sances of the Uintah field right now, for the Poetoffice department It is equally fair to all offices of fti To the south of the Rado association's projierty the Kasoming Oil class large and small regardless of the amount of receipts. It obvitta eomwny, saya Pettit, is putting down the necessity of cancellation records, reducing the work of the postmaster hole. A largesized rig a twelve-inc- h and simplifying the accounting in the auditors office. has been erected and all preparations It recognizes the fundamental principle upon which the fourtn du of the conqiaiiy point to a thorough of strurtnre. the office is established, namely, that fourth class postmasters must depend drilling ' their business for a part of their livelihood until their offices attain1 Mounted on the same base is an upon electric lamp of standard power and the status of third class. The provision for an allowance of twenty p another, diminuative one to serve as centum of the compensation for rent, fuel and light ia very conservatw a night light in a room. The provision that gives to the fourth class postmaster, who must furnift the equipment, the whole of the box rente collected is baaed on fairs; Family jars may not be so bad after alL They keep neighboring minda This bill aiTects 41,600 fourth class postmasters, of whom 15,000 v from becoming stagnant. in a class haring from $100 to $300 of annual receipts; 5,000 haring $3 to $100 annual receipts, and 20,800 with .receipts ranging from $450 to HOME GROWN TREES $1,490. Their compensations in all these three groupings will range fr the cUtf Write B. II. Dower of the Provo a minimum of $125 to $999, thus bringing their salaries within Nursery for anything in trees, plants fication necessary for promotion to third class postoffices. or in berry bushes. Ever blooming Duplicating a&lei hooks at factory roses. Duplicating sales book at faetdf prices, order through The Sun. prices. Order through The Sun. ? ?Y Oil Boom To Be Clean rEIDAT. Y t? T Y ? ? I? t 4 I t Y Y ?? X tt Y Y Y ?? ? t? ? ? Y Y Y ?? ? f t? For Readjustment of the Salaries of Fourth Postmasters. |