Show the oil industry TO DRILL FEET express vernal utah the deepest oil well vell in the world is to be put down in the rangely langely oil field five thousand feet one mile towards the center of the earth is the distance that C 0 baxter and associates propose to go before they quit unless they find a gusher near the surface arran arrangements 0 cements are now be being ng perfected and work is to begin right away many oil experts men who had experience in other fields are of the opinion that these fields will one day yield thousands sands ot gallons of oil the companies interested in that section have plenty of money behind them and the men who compose the companies are not afraid to put it into the ground where there is the slightest chance for returns oil magnates from various portions 0 ot the country are becoming interested and there is no doubt from present indications b but ait that there will be an oil boom which will spread from one end of this basin to the other C 0 H judd who represents a number of moneyed men in los angeles and who has been here for several weeks recently returned from the rangely langely country he is so well pleased with conditions that he is going to recommend the sinking of a number of shallow wells he is not in favor of going so deep at present as the baxter people are figuring on going mr judd and his los angeles people have control of 1200 acres in the Pt angely field his idea is that a well which will wili produce five gallons per day would be a p paying proposition the refined oil is worth 4 per barrel and the cost of refining ning here is two cents per barrel while in california the cost is seven cents per barrel the judd people are going to make tests with one and one half inch diamond drills the baku oil company is being organized by local people who have control of acres of land located about three miles to the northwest of rangely langely Ran gely to be exact the land is in what is known as the stinking basin raven park oil district the company is to be capitalized at shares of the par value of 1 per share ge george orge H mulvey is president byron D wice vice president N J meagher secretary and treasurer A rig with a capacity of 2500 feet is to be purchased immediately and sinking will begin just as soon as the machinery can be shipped it is figured that feet per day can be bored the people of Ver vernal and vicinity have so much faith in the concern that there was no trouble in raising all the money necessary to purchase the machinery and begin operations at 0 ns it is claimed that hunt and his as socrates socia tes now have more than a dozen shallow wells down on their property which is located near the holdings of the baku people these wells are producing |