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Big American Company Going’ After Mexican Oil in Earnest FIELDS ARE NEAR TAMPICO Reported to Have Contracted for Their Output Thus Far In Advance . Two special cars, bearing ‘the big, broad legend, “Atchison, Topeka and Santa Fe railroad,”*have been in the yards of the Mexican Central for sev eral days past, occupied by” nearly a score of gentlemen who only asked “to, be let alone” and had no news for the newspapers. Last night these cars left, over the Central, carrying their modest occupants with them. But a story was left behind, and this story, as vaguely hinted at by a railroad man of prom nnce, contains the information that the gentlemen represented one of the biggest companies ever organized to] exploit Mexican products. _ . ‘ This company is said to be the Mex ico Oil and Development company, which has filed articles of incorpora tion in the city of Los Angeles, under ‘the laws of the state of California and , whose capital stock is ten million dol lars, gold. The company proposes to operate for oil and metals in the states of Tamaulipas, ‘Veracruz, Nuevo ‘Leon, San Luis Potosi, Queretaro, Guanajua to, Hidalgo, Mexico, Tlaxcala, and Pue bla. Its capital stock is divided into ten million shares at a dollar, gold,a. share, and it has already purchased for the purpose of development. 400,000 acres of land about 250 miles northeast of this city, near Tampico, for which $1,200,000 is said to have been the price agreed upon. The company has also leases of lands in other Mexican states. It is said that contracts have already been signed whereby the product is to be sold to the Mexican Central. There are 54 stockholders, among whom are: C. A. Canfield, Edward L. Doheny, H. A. Chansler, Hon. R. J. Waters, Senator George C. Perkins, ©. P. Ripley, president of the Santa Fe railway;A. B. Butler, the Fresno rais in king of California; W. G. Kerchoff; G. Holterhoff, treasurer of the Santa Fe; C. E. Crary, A. P. Maginnis, Chas. Wellborn, E. T. Stimson, Joseph Schloss, B. F. Brooks, W. G. Nevin, general manager of ‘the Santa Fe; M. H. Herman, E. P. Clark, D. H. Hart, W. JH. Graham, J. J. Fay, H. M. Mc Intosh, of Chicago; W. E. Hodges, gen eral purchasing agent of ‘the Santa Fe; R. C. Kerens and E. D. Kennan . The directors of the company are C. A. Canfield, E. L. Doheny, W. G. Nevin, R. J. Waters, W. G. Kerckhoff, E. T. Timson, J. “A. Chansler, all of Los An geles; Ed Kenna, St. Louis; Addison Lysle, Pittsburg, Pa. ‘A gentleman familiar with*the pro ject said last night: “It is the most gigantic enterprise ever launched on the oil business in Mexico or anywhere else, and therefore is of more than ordi nary interest. “For several years past spasmodic operations have been carried on in Mexico in connection with ‘the produc tion of oil, and petroleum is mentioned as one of the industries of this country but, as you know, large quantities of oil have never been produced. “For some time scouts have been prying about in the foothills along the Sierra Madre mountain range, back from the Gulf,of Mexico, in the inter ests of a company of California oil men The result of’ their discoveries was the organization of the company above mentioned, which has’ purchased in, fee 403,000 acres of land and has under lease 16,000 acres. 'The property lies in the states of Tamaulipas and San Luis Potosi and about 50 or 60 miles north and west of the city of Tampico. Every bit of ‘this land is said to be excellent on land and seepages and ‘Sani crop nings are numerous In every direction. “The Pens Central railroad runs through the heart of the property, which is described as slightly undulat ing and hilly, easy of access and well suited for operations. The transpor tation facilities are excellent and fav orable rates can be secured on the railroads. “It is said that the company has been organized to produce oil, and, just as soon as the details are arranged work will be begun at once on the de velopment of the property. Contracts have been already signed whereby the Product is to be sold to the Mexican Central railroad. Half of the capital stock has been subscribed and there will be nothing slow in connection with development after it has been commenced.”
Newspaper Details
The Two Republics
Mexico City, Mexico, MX
Sat, Oct 20, 1900
Page 4
Full Page
Clipped by
Jana K.
