Show OL OIL INDUSTRY HAS HASIS ITS IS ATTRACTIONS Fields Such as Promise to Yield Handsome Profits With WIh the prospect that Utah Uth is to soon become one ono of the important oil 01 producing states a Pennsylvania ox o port who recently examined the te San SanJuan Sn SanJuan Juan field feld says that it I will 1 be one of oC the tho greatest producers of ot oil not a new now Interest in the In Industry Industry in Is I being aroused among Utah people A popular error in regard to the industry is contained in the ap apprehension 01 apprehension especially upon the bring ing In in of a now new gusher that there Is IB likely to bo be overproduction of oil 01 The fallacy falacy of this becomes apparent when is considered the rapid exhaustion exhaustion exhaustion tion of most of the eastern fields to together together gether geter with wIh the tho rapidly increasing use uso of oil 01 for tor fuel by b railroads by steam steamship steamship ship Sh lines linos and for tor stationary engines and an automobiles Tho The fear of oC overproduction over became acute when the tho Beaumont gusher was brought in In Largo Large users of oil 01 can cancelled cn cancelled celled contracts which they tho had to en on enter enter ter Into new ones by b which the product was furnished at ruinous prices price but the gushers soon gave out and some somo of oC them thom wore were left lef with ih no supply at all 01 The Te same fear was wa expressed upon the advent of ot the te gusher but the apprehension is less leas for the reason reon that It has been learned lerne that the spec spectacular spectacular lived producers are ore necessarily short Production Less Lens 1 8 In 1000 loD Although tho the search for new oil oilfields 01 oilfields fields felds has been unabated in recent years yer the production of or oil 01 by the United States last year actually fell fel off oC barrels to bar barrels barrels reis And among the countries of or the world the United States produces more than three times as much oil 01 as does doe Its It closest competitor Russia The To production of Russia last year was wa 55 65 barrels It is more than probable probable probable able of ot course oure that the Increased d In Interest interest terest in the tho industry will wi result in Increased production by b the United States this year er Profits of companies engaged In pro producing producing oil 01 frequently assume dazzling proportions without considering those which are ore so lucky as to bring in gushers ghers like the or tho th Beau Beaumont Bou Boumont Beaumont mont In fields like the Kern River where whore a duster is almost unknown and ond production is steady covering a ater term ter of years eTS profits are not only at attractive attractive but they the have hae proven n to be sure Results of prospecting in the San SanJuan Sn SanJuan Juan field of or Utah indicate that it I is la isto lato 1 to be b such a field The record of or the tho Acme Development company Is I said ld to be characteristic of the Kern River field With 20 acres acre of ground freund the eight wells of that company have In three years ers paid pid for themselves and an above aboTe all aU operating o expenses en have bave netted the owners more than earning at the rate rte of or 1000 an acre ocre Il in n it I H u uIn In 1883 1856 18 C c A Canfeld and J A Chanslor organised the Coal Coalinga In go Oil 01 company They Thoy had much difficulty In raising money mone to carry on development In the last lat eleven years yean the company has h paid pid to stockholders approximately approximate 1000 8 a share In dividends Among the more recently r formed forme companies the United Unie Oil 01 company or organized 01 organized in November 10 with lh 12 U capital had difficulty In selling stock at 26 28 cents cent a share The company has now no completed five wells wels with a production of ole to barrels a month It I declared its It first frt dividend of 1 cent a share on April Apri 9 and it will willbe wl willbe be paid pid June Tune 10 It I is claimed that tat the holdings of the company could be bo sold soldat soldat at A price that would bring O a ashare ashare share for tho the stock The Mascot Oil 01 company compan was organ organIzed organized In 1901 with wit a 0 capital of or At first firt the treasury stock sold lold as a low lowas 09 as SS 35 2 cents a share It I is I now said Mid to have a not net producing pr Income Of or 5 per percent pr percent cent on the par value of the tho stock The Mascot has hu been paying 1 per cent centa a month mont since last February The Utah OH Oil 01 company com organized In 1800 1810 started with a capitalization of or shares Ibare par pr The shares har sold Ild In the early day days around 30 1 and now with the capItalIzatIon capitalisation Increased to they are selling scum around 67 a share shar The company had ha paid pid in stock and ond rash cash sh dividends up fo to o othe the first of oC the present year er The Mexican Petroleum company or organized organized about twelve telve years year ago a o by E EL E L L 1 Doh Doheny Dohen ny and C A with a capital of or 8 par pr 1 has hM had many ups and downs downs the stock selling at one Up time as al low 10 as 5 S I cents e nt a share shar A considerable amount of ot the stock was wal finally finaly sold to pay pa a cent assessment Within after ater that the a year ear company was W on a dividend basis bal and the stock advanced to 13 a share Mare The Tho com corn company pany is 18 now paying 10 per cent on par pr and bids bide fair lair to increase the Uie dividend rate rte within a year yer The total dividend paid pid up to January Januar 1 last was w 2711 |