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Show BIG SOURCE OF WEALTH Asphaltum Deposits at Promontory Already Bringing Returns. The asphaltum deposits at Promontory Promon-tory have not been attracting the attention at-tention which they deserve. Few people are cognizant of the fact that there are three wells in active operation In that district, and that the product is being shipped to New Tork and Is finding a ready sale. The wells are not productive pro-ductive of oil, but the liquid asphaltum is a most valuable product. The process by which the liquid asphaltum as-phaltum is extracted consists of forcing steam down the pipes to the deposit, and. by this mean melting the asphaltum asphal-tum and bringing it to the surface by means of pumps. So far as known the supply of asphaltum asphal-tum Is limitless, and as the work progresses pro-gresses the output of the wells grows 1 greater. The product is not only valuable for the asphaltum which it contains, but. fuel oil and lubricating oil are also extracted ex-tracted from it. The New Tork market pays about $8 a barrel for the product, and the companies have a contract to furnish the entire output of the wells at that price. They are not, however, satisfied with the profits resulting from these sales, and it is likely that they will determine to establish a refinery of their own within a few months. Although' the Indications at the Guf-fey-Oaley well continue to be most favorable, fa-vorable, nothing definite has as yet been discovered, and Superintendent Rura-baugh, Rura-baugh, who has been in the city for a couple of days; is not willing to say anything for publication except that the well is now in more favorable ground than at any time since operations were commenced. . , |