Show REVIEW OF THE WEEK IN FINANCE AND TRADE By Ira C. C Tichenor N EVENT fENT which deli promises to be au no epoch in hl the history listo ry not noto o only of the thc cit city land and valley of Salt Lake Take but hut the entire State o of f Utah transpired yesterday esterday This the inauguration of actual j was drilling operations by b a Company formed ormed and promoted by Salt Lake Imke men for the development develop develop- pent ment of the great gas field known to exist northward of Salt Lake I j The rule practical assurance nce of an immense Immense supply of natural gas should hould be of profound interest to the residents of this city from various points of view view In the first place it will mean meals tale Hie eventual disappearance of the the prevailing and constantly increasing smoke nuisance with the s general use of natural gas gag for the heating of or office f buildings and residences and as a fuel for the creation of power 4 Although the tho beauty of Salt Lake and its charms as a residential residential residential city are known in many lands its fame in these respects willbo will bo increased when it becomes a smokeless metropolis The rhe development t of an adequate n natural J gas as supply also will mean tho the of many of the industries now in existence and ind the creation of numerous others and these in turn mean an an immense growth in population and a cons consequent quent increase in in the tho demand and the value of real estate of every description All this will be in addition to the he probability of the drill now boring its way to the gas reservoirs eventually c striking the great basin of oil confidently believed to e exist beneath the surface of this region and which is t the e manufacturing lg plant lant as it were wele of the C thees gas es supply which wInch seemingly has not diminished as us the result of its escape into the atmosphere through scores of natural blowouts uncontrolled gas wells and numerous water wells Such an event not only would mean meal added fortunes to tho those c confidently expected to be realized from the sale Hale of natural gas and the extraction of gasoline but it would woul make Salt SnIt Lake a center of f the oil producing and the oil oil supply industry and assure for many years to come a wonderful era of or prosperity A A 0 ANOTHER fA NOTHER event of the week and which promises not only to 11 add to the prospective history of Utah as an oil state but to create an important industry that will win be new to the state was he he completion of negotiations for the control of a company with holdings of oil lands in in Millard l count large r. r m L to L' L county t t. Tiie ine completion 01 of l tins tins deal deal insures the tue development of great deposits of iron iron ore in m Iron county and the thc construction of blast tt furnaces and steel works at some favored point in ill the state stat and ami which by reason of such acquisition doubtless eventually will win become known as fiS the Pittsburgh of the West I r Utah long has been famous for its metal mines and now stands first in il the production of silver and aud third in the output of copper Hut l with the assured development of its oil resources its iron coal sulphur and other mineral and chemical deposits and find the natural growth th of its agricultural horticultural and live stock industries the prediction seems justifiable that the state is destined to become one one nc of the most populous and wealthiest commonwealths in the Union I A ITHE THE III PROP PROPAGANDA against small oil companies or those I still in the promotion stage seemingly is extending judging from the following excerpt from an nn article by b a so-called so trade expert eipert which appeared recently in a well known eastern magazine j f It doesn't cost much to drill for oil About twenty to thirty thousand dollars will do it It used to cost much less In Tim fact Under Older certain conditions a single well may be bc sunk for about one thousand dollars Any man can raise that amount from frien friends s fad ind neighbors on the promise of a share in the profits If the tell jell does prove a strike the St Standard Oil or some other company will Fill ill come along and pay a handsome profit for it Perhaps the best thing to do is to sell the whole outfit for in order to operate it much money will have to be raised Then there will be the problem of f transporting refining and marketing K You say sar we wo will sell the crude petroleum as it comes from the wells Y Yes cs until we can drill some more holes and increase our OUI production to so many barrels a day daJ- and then we will do our own refining Then bless you what are you going to do with your refined product 1 Why sell it What facilities have you rou for selling sell- sell fog ipg How can you compete in that game with the large established companies Y YI I i r IV V 1 RILE HILE it might be an injustice to the writer o or of the article lW v and the magazine in which it appeared even cven to hint of the possibility of pro-German pro propaganda it is perfectly justifiable to declare that no greater injury could be bo done the oil industry if the were admitted to have been made by bv avowed enemies of f the time United States t I The rhe inference that the troubles of the little oil producers begin the N e moment he brings in a well might have been beeh justified a few years years ago but conditions prevailing today would make it absolutely ridiculous if it were not for the fact that it might be taken seriously ly lyby by Eby unthinking people I Instead of troubles the joys of the pione pioneering ring oil company officials begin begill J il word is received from the tho fi field ld that that oil oil has b been ben en struck in p p. ving ying quantities 1 It spells spens sue suc ess for everyone connected with tho the company comp from the president down to the smallest stockholder Should the thc company company company com com- pany pany own or 01 ce Vel cl l several hundred or several thousand acres in inthe thus the immediate vicinity of the newly proven tract it will be immediately immediately imme imme- besieged b by other companies big and small to sublease appart a n part Jart of the holdings on a good ro royalty basis to drill other wells r without cost to th the original b company and on a good division ision of production or other plans plum b by bJ which the thc field can be further developed developed devel devel- and which mean rich riches 3 for the pioneering organization l t- t Should the successful wildcatter decide to reject all such offers and aud proceed with development operations it will have no trouble in disposing of all tho the stock it cares eares to offer and at an advance over ver its original offer which probably went egging at a few cents a share when first placed on the market t I In Iii event ent that th the initial w well ellis is a good producer say producer say to barrels per day some day some big pipeline or refining company would gill egin the construction of a pipeline to the time field field pra practically regards regard's regard regard- s 's ess of the distance from the nearest marketing point before the ilk on the contract had dried 1 This has been the time history of every new field developed in in th the arious western states and amid it will continue to be the rule for eer every strict yet et to be add added d to the oil m producing area f Evidence of this fact has been brought directly to the attention f f f the p people ople of Utah m by the time recent declaration cc of of officials of a acal peal cal refinery refiner that it would build a pipeline which would be a u hundred miles in length providing the ion on of or a certain district in this state was increased to even Barrels a day p a aHL HL HI little fellows in the oil industry of yesterday arc are among the big bib fellows of that industry today toda while many of the thee e inners innere of today will be in the financial swim swine tomorrow Continued on m page 1 7 I I I I I I REVIEW OF WEEK IN FINANCE Continued from pa page o 5 7 Tile The oil oi iId industry has moved faster than fn any other business id ht ii the thc United Limited nied States durin during the past few years and it is certain to be bc one of the most favored of all industries for come al many years year to It I has lias created more individual fortunes than any ally other single e industry and the number constant constantly will iII wil increase with the extension I ot of o pro production resulting from the discovery an and development of new fields Taking el e everything th lg into consideration in connection with wih the oil in industry as as it exists toda today with wih the demand for petroleum far exceeding the supply and the greatest interests ts operating cooperating with the tile smallest in in an effort to increase the production to meet the urgent appeals of the government o and its is allies ales for more oil oi for use ilSe in in 11 connection with the war Avar and th the added assurance that the time demand wi vill continue to increase even cn c utter after the close cose of the great struggle now in pro progress it would woul seem that an any propaganda having ing for its aim ann any slowing lowin I up of the production of petroleum is is If a as criminal as it is unpatriotic |