Rensselaer Semi-Weekly Republican, Volume 36, Number 112, Rensselaer, Jasper County, 23 September 1904 — SOME OIL FIELD MATTERS [ARTICLE]

SOME OIL FIELD MATTERS

The recent reported sale of the property and rights of the Federal Oil Company, in the Gillam oil field, to the Cres nt Oil Company, is confirmed. The price was up close to half a million dollars. Mr. Mudge of Cbic g' 1 , is the head of tne Crescent C mpauy, The Federal Company hns had a contract with the <il refining company, which had the largest refinery in the field, t > furnish the refinery with 75 barrels of oil a day, at about sl.lO a barrel. Mr. Mudge claims that he can get about $10.25 per barrel for the oil, as lubricating oil, it being the best natural lubricating oil in the world. Of course he will not any more oil to the refinery, and as a result the refinery has to quit business, and the building is being torn down, and the plant will be moved to Kansas •

The smaller refinery will still be left, but if it will be operated much or not is a matter of doubt. If the oil is worth $10.25 per barrel just as it comes from the ground, it is good enough without any refining. That it is the most valua ole petro’eum ever discovered there is no doubt whatever. The on'y trouble is that there is not enough of it But even now the Mudge companies are producing 75 barrels every day.