Show r to bh ti VIEW OF THE WEEK t IN FINANCE AND TRADE I. I By By Ira C. C Tichenor S of the impending oil boon boom boom in ul Utah constantly constant are hp and are becoming more pronounced in the decisive- decisive their character it in 11 t e handle handwriting n ting is on on the industrial wall wall and it is written in inas as 5 been most appropriately termed liquid gold questionably it is a fact that the people of Utah because of pride for and their interest financial and otherwise mining industry for which the state has become famous out the world have be been n prone to underestimate the value immense immense bodies of petroleum which geologists declare exist in iny y parts of the state 0 too they have considered the great mining industry sic has been the source of magnificent incomes and which Is is its ifs infancy and destined to further increase the glory of the Dd ad add many more millions to its wealth has been all- all le i ht t from an industrial of view and that an added industry I ht be superfluous alone Salt Lake which will feel the effects of the them ther 1 I m m r to a greater extent than any other otIer single city of the them thee state k e dents of Utah's metropolis may well feel proud of the hand- hand Of and residential sections the great public and semi- semi I and of the numerous and important manufactories F. F lile rile conditions here are m most v st gratifying and a justifiable i or pride on the part of those who have taken an active part Ml Gi g of the city there is no reason why these very e e a conditions should not be be- just as desirable although multi multi- any times tines s view is taken from the vantage point of material progress I nd d d civic pride f here is another view and one that is seen from the higher bader plane of patriotism It is of paramount importance that there should be no inter- inter in the production of oil The wildcatter should be enI ened en- en y I l ed to continue his activity in the ledge knowledge that his reward 1 ot at h 1 be circumscribed The producer should be encouraged red ged to produce and at a price which a fair profit s is u investment estment ln keeping in In mind the h z of the industry r lie he foregoing is an excerpt from a st statement recently issued rk L. L Requa the well known coast oil ohi operator and now the J States oil administrator f very cry ry adroitly Mr Mr Requa p paints ints the pro Pr prospects of great financial as is an added incentive l e to patrY ism and he declares too ie e highest quality of patriotism at this time is to get what oil I ed led Petroleum ow is declared iff t W. W W as necessary as powder lot ot an am shell in the successful pr pry 1 ution of the great war A. A A.- A. At t ca entered solely in behalf 01 I the peace liberty and ess of humanity for tall tah can do much to promote the oil oit industry and in view of fIs ct that this state ever has been found in the front ranks in b Oj a patriotic endeavor and in supplying both men and money to s use of freedom freedom and democracy cJ it is predicted that she will this added plea for patriotism to go unheeded I. I t WILL be noticed that Mr r. Requa makes use of the word I Meatier and adds that he lie should be encouraged to con- con l his activity in the knowl knowledge dge th that t his reward will not be beW W scribed though the phrase or lerm term of wildcatter is one which ally lly is greeted with lith in mining in mining districts it bears lium ium when used hr connection with an oil company The cat icat is to the oil industry what the prospector and prospect per oper is to metal mining Every well is a wildcat un until tit iti it itc i c s s to produce oil in paying quantities just as a prospect re- re r. r such until it begins to ship pay ore in commercial lots Mr r. Requa how however we ver er undoubtedly y had in mind the oil coms com- com s which are the pioneers in new fields Such companies do egin development de work until after a favorable report is made nade I reputable b bed geologist and the advice of trained oilmen has been led ed ed put ut even een then they are taking a chance and this chance re- re re-I re t until the bailer baiter brings up tip the first indication of the presence liquid gold he bringing in of the first well in a new view district the district the proving new v territory territory results results in a lively transformation Soon the I MS puts p on the appearance of a forest of derricks and thousands of oil begin to flow through pipe lines to the nearest tries Ties with the result result that streams of cash begin to fill the boxes f-boxes of the various companies later to be divided among elders and in amounts often exceeding in one one dividend pay- pay the total sum of their investments It H means too that still another source of supply of much I d d petroleum has been obtained by the government wit with which ces conduct its campaign against autocracy I And all because the wildcatter l. l had the strength of his con- con coni i I ins Si us used d his own money and that of his stockholders in jj 1 mate manner and was imbued only with a feeling of paLm pam pa- pa Lm m but but a desire to promote the interests of his company and ande Jie e oil industry as a whole ft of WE E of the signs alluded to as demonstrating the near approach of f the oil boom for Utah was the completing of negotiations g the past week for the financing of a Salt Lake company h has extensive holdings a few miles north of this city and 11 It has had plans under way for the inauguration of develop- develop it t work This s announcement followed closely the closing g of similar JI involving another company now conducting ing drilling rations in In the same immediate vicinity In connection with the announcement was the statement that would be he immediately concluded for the construction he first unit of a plant to extract ct gasoline from natural gas I v Continued on page pat 10 1 O. O I REVIEW OF WEEK IN fiNANCE AND TRADE Continued nud from f fago ago age 7 7 While the initial operations of both companies involved in inthe the lie recent transactions have been planned with the object of developing developing devel devel- the supply of natural gas which is known to exist in iii in immense m nse quantities comparatively close to the surface of the earth within a afew afew afew few miles niiles of Salt Lake it is the tile announced intention of officials of both loth companies after after ta tapping ping the tile natural gas res reservoirs r and obtaining inin a commercial quantity to proceed with ith the tue drilling in in an effort to to reach the basin of oil which it is considered certain exists in ill this b j It is est estimated mated that from froin to cubic feet of natural gas is escaping daily from scores or natural blowouts and water wells adjacent to the Great Salt lake e Analyses of this gas show the presence of t. t O gallons of gasoline to each thousand cubic feet of gas and this after it has percolated through water at least two or three hundred feet in in depth Belief is expressed that when the gas reservoir itself is tapped the percentage of gasoline will be found t to be much higher What hat is regarded as absolute proof that the tile gas comes conies directly I from an immense oil basin is the tile fact that the analysis shows the I presence of a larger percentage of ethane than is obtained from front the natural gas of the Baku field of Russia and which heretofore contained contained con con- the tile largest percentage of ethane known Ethane is a product derived only from petroleum with a paraffin base However the tue development of the gas fields of Salt Lake alone is of sufficient importance to interest the tile entire populace of the city by bv reason of the assurance that an adequate supply will mean many and and important additions to the list list of manufactories I HI LE it is not necessary to go into details can be beV WHILE W V V given giyen that plans ar are under way ay by a number of of- companies composed principally of Salt Salt Lake Lake men to develop oil lands in inam various am other sections of the sta state tc both near to and remote te from this city Without in any manner detracting from the ambitions of these companies or of other concerns which no noV v are operating or orare orare orare are planning development work in the older portions of Wyoming it is desired to call particular attention to th the activity that is constantly constantly constantly con con- increasing in in Lincoln and Uinta counties in the extreme southwestern section of the Prairie state Allusion is made to th fields not solely from froIn the fact that many Salt Lake companies now are engaged in developing holdings there and others are completing arrangements for active drilling campaigns with the opening of spring but because of the tile location of these promising fields almost at the door of Salt Lake As previously pointed out a glance at the maps of Utah and Wyoming shows that the boundary line of the southwestern portion of Wyoming extends far into the northeastern corner of Utah Vere Were the eastern and northern lines of Utah to be squared nearly half of Lincoln county and all of Uinta county Wyoming would Become a a. part of Utah It is only a few hours' hours ride by train or auto to the oil districts of of these counties and the development of their resources will mean much to Salt Lake from a business point of view In Iii addition their assured development will bring the oil boom booma boomi a i great step nearer Utah and give this state a taste of what is in store for the tile commonwealth when Wild the oil industry of Utah is well under way oil industry industry of Wyoming although still in in its infancy and 1 just now casting off its swaddling clothes nevertheless has accomplished winders in the way of creating fortunes not only for thousands of individual stockholders of successful operating companies corn com panics hit but quite materially is increasing the revenues of the state Last year the output of Wyoming was not far from Barrels but this year as the result of further development of proven fields field and the addition of other districts to the the- producing class itis it itis its is s expected that the output will vill be increased 50 to 75 5 per cent Although the tile greater portion of the money required for the financing of c companies operating in Wyoming has come conic from outside outside outside out out- side sources with the consequence that much of the immense profits have lave been sent outside the tile state still enough have remained with the he investors of Wyoming to cause them to discuss the tile advisability of supplying capital to companies operating in ill other states This one incident alone is indicative of the immensity of the wa wave ve of prosperity which will sweep over Utah even before the oil boom reaches its zenith r |