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Show IT.UI OIL FIELDS ; "It's gratifying to note the confi- dence placed in Utah oil fields by outside companies aud capital. , Since the blowing of the gusher on ; the Cane Creek structure, about 7 . miles southwest of Moab on Decern- , ber 8, large companies from nearly ' every part of the country have tied up some of the choicest oil and gas prospecting lands in the state. In oil circles throughout the country, the discovery is considered the most important recent discovery in the industry. "In every center where oil is king attention is turned to Utah awaiting the first acute test. One prominent Salt Lake banker who recently returned re-turned from a trip to the Pacific coast, reports that there is more talk and more interest in 'this discovery dis-covery in Los Angeles than there is 1 in Salt Lake. He says that Pacific . Coast capital is ready to take ad-I ad-I vantage of every opportunity and ' every opening in Utah prospects. "This is also evident in other centers by the influx, of capital, reflecting re-flecting the greatest confidence in Utah as an important petroleum dis trict. Companies are ready to put up almost unlimited sums for exploitation exploita-tion and already the expenditure ot several 'million dollars in the next year 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 sands 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 min-eral wealth in which the bulk of cli-; cli-; vidends aud profits go out of the 1 state? In view of the confidence placed in the field by outside capi- tal, it seems that local capital ould f tal, it seems that local capital S should be a little more aggressive in acquiring a share in this promis-J promis-J ing industry." |