Show UTAH CAPITAL SLOW IN OIL FIELD development S k its gratifying to note the confidence placed in utah oil fields by outside companies and capital de ftc lared a prominent utah citizen in discussing the oil situation recent oily since the blowing in of the gusher on the cane creek structure about 7 miles southwest of moab on december 8 large companies from nearly every part of the country have tied up some of the choicest oil and gas prospecting lands in the stief in oil circles throughout the country the discovery is considered the most important recent discovery in the industry in aery center where oil is king attention is turned to utah await ing tha first actual test one prom ineat salt lake banker who recently returned from a gnp to the pacific coast reports that there is more talk and more interest in this discovery in los angeles than there is in salt lake he says that pacific f coast capital ie ready to take advantage of every opportunity and every in utah prospects this is also evident in other centers by the influx of capital reflecting the greatest confidence in utah as an important petroleum district companies are ready to put up almost unlimited sums for exploits tion and already the expenditure of several million dollars in the next ear has been assured in the rush for prospective oil lands an absence of utah capital has been noted it is encouraging to have the oil bearing sand tested but will utah be left out altogether in case a big oil field is opened up as is the case with much of our mineral wealth in which the bulk of dividends and profits go out of the stated in view of the confidence placed in the field by outside capital it seems that local capital should be a little more aggressive in acquiring a share in this promising industry |