Show I I I I NEW b Oil COMPANY fOR UTAH COUNTY It Is it stated that some om ens eastern tern capItalists capitalists cap cap- are assisting in the preliminary prelim prelim- mary inary exploration work which tho the new nc Gustavoson Oil company compan Is la about to take up In Diamond canyon canon near Spanish Fork canyon about 65 miles mUes south of ot Salt Lake City The company has hns recently been incorporated for or shares hures of 1 cent par value It owns 2500 acres of what uro are claimed to be bo splendid oil lands near noar the railroad D. D H. H Gustaveson Gustavoson Is president B. B F. F Bauer of the tho Salt Lake LIke Hardware Is president J. J W. W Musser usser is secretary secretary secre secre- tary County Recorder er George H. H Is treasurer who together with Joseph R. R Murdock banker of or Heber Louis LouLs S. S 1 Pond of or Brigham City Dr Raphael S. S Olsen Oben Dr Murray Rock nock Theodoro Theodore and N C. C Petersen Peterson make up the tho directorate Tho The president said Maid yesterday that they hoped to get results within about sixty days This organization of business men menor I of or Utah Is la for the tho purpose of develop develop- In ing tho the oil Industry of the state elate and andis andis is a fair Indication of or the tho Interest be beIng being being be- be ing shown In this important Industry ho said Tho The company Is 28 Joined bYI by capitalists of ot the east and anti sufficient funds have been provided for the tb drilling of oC a number of or wells We ar arnow are row now negotiating a contract with ex experienced e- e drillers for tor or tho the first t three On this structure erosions caused c-aused by the waters of or the tho Diamond Fork canyon canon have havo taken away a tho the later hater formations leaving us n tho the limestone capping where In numerous Places tho the oil Is 1 forcing Its Va way through the bedding planes of or the cap rock Tho oil Han Hand strata la Is ia Ira tIle the Dakota sandstone formation |