Oakland Tribune from Oakland, California • Page 16

OAKLAND TRIBUNE. DECEflBER 31, 1900 vV. W. v. vV, v.

fcV. "i v'i V'i iV' 3 tiS iv 'v il fiftEAT HE ALIFOR NfA MDA1RD AND fflANTl 'i? Jfr -w -iv- -w 'or ft MONDAY EVENING FUfUlE FOR "Finally we get a dark oil with a comes in contact. He never errs in judgment, and his knowledge of human nature is most profound. He is prudent in speculation, provident of the future, conscientious in guarding interests of others committed to him and indefatigable and unceasing in his effort to have all associated with him enjoy the fruktion of their enterprise and liberality to which they are entitled. There Is little to te marveled at, therefore, that every enterprise he undertakes, and he himself are pronouncedly successful.

i would be displayed and sold at a great increase upon the original cost. Fre quetnly they were used to replenish a stock of some kind which had been hand, but which had become somewhat depleted by reason of the difficulty ojf replenishing it from the distant Easi. Thosev who wanted anything in those days generally had money with whjch to pay for it, and, as a consequence, there was always a handsome profit for the dealer, even I when one considers the original outlay for the goods, the cost of transportation, the difficulty and danger attending the trans-shipment and the expense and trouble of Mr. il. J.

Laymance, Tecognlzing that one of California's greatest sources of wealth would be the production of oil, about two iears ago vlslited the Mc-Klttrick District, in Kern county, Cal-fornia, where. It was reported, that the prospects for oil were very flattering. He secured bonds on a large number of acres of oil land, end in conjunction with Dr. J. M.

Merrell, James T. Hamilton of Pittsburg, and "William J. Din-gee" of this city, organized the California Standard -Oil Company, a corporation of half a million dollars capital, which corporation took one-half of the land Mr. Laymance had under bond. Later he organized the Giant Oil Company, which1 consists principally of the same to invest large sums of money in laying pipe lines to convey water over the land to drill wells.

In this work alone, in the neighborhood of $20,000 was expended. The company's plant now supplies water for domestic and other purposes in and around the -town of McKittrick, the rate for water used for drilling each well being $100 a month. A PLANT PERFECTLY EQUIPPED. The two corporations also own all their own buildings, and control all the land upon which the town of McKittrick is situated and adjoining the railroad, thereby giving them great advantages in "the conveyance of oil and for tankage purposes. Their buildings consist of a good six-room house, nicely furnished for the use of the superintendent and the officers of the company; also a.

large boarding and bunk house for the accommodation of the men, engine houses elation of California, which organization proposes to handle all the crude oil produced in the State, to the very best interests of the producers. This w311 be the strongest organization of oil producers In the country, thereby giving them great advantages In the building of pipe lines, the building of tanks, railways and ships for the conveyance and marketing of oil in this State and in other countries, because in the next year California will be exporting large quantities of oil of her own production. LEADING IN RAISIN CULTURE. In 1888-89. Mr.

Laymance engaged In the raisin business in Fresno county and has been very successful in raisin growing ever since. He is the owner of the largest vineyard in that county and one of the organizers of the California Raisin Growers'" Association, through which he, In conjunction with M. Theo. Kearney and others, in 1S99 succeeded in increasing the price of raisins from one-quarter of a cent to 5 cents a pound. Thi3 association now handles and tool houses.

They also own all their oil wagons, stables, all their pipe lines, telephone lines, etc. Great sums of financial standing and known business ability. The original promoters of the California Standard and Giant Oil Companies were M. J. Laymance, J.

M. Merrell, James T. Hamilton and J. DIngee. These gentlemen went Into the field; invested their money in first-class machinery, sunk wells and speculated at their own risk, to first find out whether or not their property was oil-producing land, never asking the public to Invest in any of their companies' stock.

They have never printed any maps, nor have they ever had printed a prospectus or done anything to give their companies an attractive air on paper. They expect'to reap their harvest from dividends, honestly earned and now really in sight. Mr. M. J.

Laymance is secretary and general manager of both the California Standard and Giant Oil Companies. J. M. Merrell is president of the one and vice-president of the other. -'William J.

Dirigee is president of. one and vice-preSldent of the other. Walter C. Beatle is treasurer of each, company. HONORABLE MEANS EMPLOYED.

No person can rea'd the names of the men who caused the Inception of this undertaking without at once being satisfied of their moral, social and financial standing in this community. They are men with level heads, business acumen, provident of their wealth, save when they know It may be utilized with the certainty of a return upon the outlay'. No person may study the history of this enterprise without becoming impressed with the fact that thesa men first assured themselves that everything was right and that they then went ahead. There were, as has been said, no booming circulars, no highly colored imaginings to attract unthinking, investors in a word, there was an utter absence of the wild-cat methods of procedure which, in other instances, have caused bankruptcy, misery and ruin. It is In such companies that stability, integrity and devotion are found, and it is in tuch companies only that the provident, the conservative the practical and the intelligent man of affairs will repose his confidence.

i gravity of or 12 degrees Baume. Thi3, too, is a lubricant. "The residue is coke, the oil having an asphalt base. "We have presented here, first, an oil which, in its original state, is an un usually good fuel: oil; and secondly, when distilled gives three oily pro ducts an llluminant and two lubri cants. "If we can give you any further information in this, or in other connections, we trust that you will not hesitate to command us.

"Very truly yours, "THOMAS PRICE SON." The oil from McKittrick being of light gravity is better and easier to handle as a fuel I oiL The gas companies throughout the' State use principally this quality of oiL The McKittrick oil has only one competitor, and that is the Coalinga, which is of very high gravity, running from 35 to 40, and is unsafe to be used as a fuel A M. J. i I A 4-, I 4 1 LAYMANCE. this city, is also the organizer and proof money have been expended in the moter of some, of the largest oil corn-laying of oil pipe lines, the expense of panles in the state. He is president of which a person could hardly realize the Fresno San Benito Oil Company, J.

MERRELL Josiah. M. Merrell, who Is one of the promoters of the Standard and Giant Oil Companies, Is one of the MERRELL. best known men of affairs, business sagacity, enterprise. Indomitable resolution and success in thi3 section of country.

He has seen life in many of its exciting phases in all parts of the country, though, in later years, he has been almost exclusively engaged in his work of developing enterprises in the middle and extreme western part of the country. i STARTING IN LIFE. Mr. Merrell was born in New York In 183G. He wa3 educated in the school of his district and later In the public schools of the neighboring city.

He (early devoted himself to mercantile pursuits and passed throughj all the gradations from attendant, as a lad, through clerkship and accountant until he finally decided to branch out for himself. iThis he did with no ordinary daring and feeling of self-satisfaction. He found that the mercantile business In the eastern part of the country, where the people were, so to speak, living upon themselves, afforded little more than a hand-to-mouth existence. VISIONS OF FORTUNE. In the distant West, which at the time was being peopled sparsely, it is true, with people of the more rugged and adventurous East, he foresaw possibilities df a fortune, because he reasoned that for a time at least, owing to distance from the marts of trade in the East no permanent mercantile could be established, and, in the meantime, the daring settlers and those who were in quest of gold would have to subsist.

There was but one way to supply them and that was by means of the occasional visit from the East of the traveling merchant who brought his stores by means of wagon trains i 1 1 and established himself temporarily in some mining camp or other settlement. There the goods, always of an Indefinite varitey, and such as would please the varied tastes of the hardy settlers, STRONG I i stockholders, which secured the other half or portion of the land. The two corporations control between 1,200 and ,1,400 acres of patented land in thei oil belt of McKlttrick, the companies' land adjoining in very alter- 1 to three-fourths of a mile 'wide, and over jthree miles in length. The companies'" land lies over the oil stratum "which, up to the present time, has proven to be over one-half mile wide, running tne entire length of the property. CALIFORNIA STANDARD AND The California Standard'Oil Company commeneced to, drill its first well in August, 1899, and struck oil at a depth of less than 400 leetand secured in the neighborhood of 100 feet of "good oil-sand.

This well has produced about 100 barrels of oil 'per day ever since. Since that time also the company has bored five other wells, ranging in depth from OOto C00 feet each, fcur of which are good producers. The Giant Oil Company has been as fourtnate as the California Standard Oil Company in the boring of wells. he -California i Standard's producing wells are in what would be termed the southeast end of the companies' land. The Giant wells are at the northwest The Giant commenced drilling shortly after the California Standard did and while the California Standard the- land of the Giant, the Giant went up to the northwest end of the territory and commenced to bore her wells, thereby developing also the lands of the.

Standard. She struck her first well at 800 feet, a well which proved a gushes being good for 200 barrels of oil a iay. The second well, drilled wlfhfTi 9nfl fast nf ths first Ktmrk oil at about 800 feet and proved to be quite as successful as the first. The Giant Company now has four producing wells, the two last ones drilled being near the middle of the tract. The entire lands of the two cor-" poratlons have now proved to be what is termed "oil land" in the true sense.

The two corporations have just com-' pleted quite a number of new derricks to! start other wells with as soon as the machinery can be moved to the different derricks. McKITTRICK OIL ANALYSIS. The quality of the oil produced at McKjttrick, is of much lighter body than that of the Kern river or Bakers-field oil, running from 18 to 22 gravity. To further illustrate the gravity of the oil, the following anlysis as compiled by Thomas Price Sons, la given: SAN- FRANCISCO. i -7 August 2, 1900.

i J. Laymance, Secretary California Standard Oil Company, 460 Eighth street; Oakland Cal. Dear Sir: Referring to, yours of yesterday with reference to our analysis of a sample, of your oil, as reported by us on the 28th note that we omitted In to give the equivalent in degrees Baume (the usual commercial designation), of the specific gravity of the oil in its original state, but that we have given the specific gravity and degrees Baume as well for each of the products which the oil splits up into an .3: uisuiiauuu. I "The specific gravity of the oil in its original and undistllled state, as noted on our certificate, is 0.940, this being equivalent to 19 degress, Baume. J'On being subjected, to distillation we get, first, a clear oiL with a faint, pink tint, which has a gravity of 0.815, or 40 degrees, Baume.

This is. an illuminating oil. "Next we get a red oil with a gravity 0 0.869, or 32 degrees Baume. This is a lubricating oiL lli- SiS "i vis- t4- -av SY4. 3 S7A ViV k.

A -i- jit -1. securing a new consignment. BUSINESS IN THE WEST. i In these mercantile ventures Mr. Merrell visited Oregon, California, Idaho and Montana.

He made' money and saved it-with the gocd sense of a clear and level-headed man of With means at his command, a favorable opportunity being presented, Mr. Merrell engaged in silver mining In Montana, and that enterprise pros pered with him and his associates inl a YEARS OF MINING. Twenty-live years or nis lire we re spent In this manner, and during that time good fortune attended the enterprise and the intelligence which Mr. Merrell had displayed in the conduct; of his 'affairs. Mr.

Merrell's ventures were made mainly in the Granite and Bi-Metallic mines of Granite county,) Montana, SCO men being given employ- ment, and the succcs was uniform and continuous until monetary legislation in a measure impaired the returns of the enterprise. The mines are, ho, i ever, sua operated, out tne return? is by no means what it was before change in silver demonetization. From time to time Mr. Merrell has extended his financiawperationa I in various directions, making prudent in- vestment in stocks, real estate and se- curities of the gilt-eoge Variety from which a handsome revenue is received. lie is vice-president of ths California Standard and president of the Giant Oil Company, in each of which SO.0CO shares of stock at a par one dollar per share.

i he owns value of vii uao VvJllllt-llUll JUL ililt? California Standard and the Giantjoil Companies, Mr. Merrell is also connected with the Grand Pacific Oil which has interests In Contra-Costa, Kings and other counties. This company has issued stock in the sum of J1.5CO.000 at one dollar a share. It is now developing oil property near Walnut Creek in Contra Costa county, which is its nearest point to this city. Thu3 far the boring has extended to a few hundred feet and already there is a seepage of oil which is encouraging.

This oil is a paraffine with lighter qual ities than others mentioned. The shaft will have to be sunk to a depth of 1000 feet, when oil which will readdy etl at $3 a barrel will be reached. A PALATIAL HOME. Mr Merrell came here twelve years ago and since then has been one of the most respected citizens of Oakland. He! has ever been oh the.

alert for means of investment, and where there seemed to be a chance to secure a fair return on the investment Mr. Merrell has not hesitated to make use of his means' in aiding the industry or development, After deciding that Oakland was the place in which he desired to reside Mr. Merrell purchased the Ralston home on enue with the beautiful grounds which surround it The home, at that ime was palatial, but after the purchase it was amplified, enlarged, beautified; and enriched so that -Its former owner would not recognize it. There fwas nothing that money could do which was not done, both in giving tcj the home on the exterior all the graces of aibuiicviuic auu nituiu au uic cuihRiu- ishment, richness of furnishing, works, cf art, gems of sculpture, chef d'ouvres of tapestry and a wealth of literary treasures which only a cultivated taste allipd to a liberal spirit could provide. The grounds about mansion' are spacious, several acres on either) side being variegated by parterres, serpentine walks, arbors, rockeries, playing fountains and a display of shrub, tree and flora, unexcelled by any in this community.

This is the present home of Mr. Merrell and his family where, in the serene enjoyment of a prudent and 'thrifty past, he is in full and blissful enjoyment of the present, and looks with complacency! into the future, having no apprenensmon as to wnat it; may have in store for him and his. I "4 laC" K11.S fc feiS 1 i 5iviC S. "i 1 i 'ir vu- 7iV- i i ViO- ress and future growth of this city. These figures tell also of the ability of the banking fraternity to furnish the manufacturing and business community with all the funds necessary for the promotion of worthy enterprises at the lowest "market rates and, at the same tlme.to foster the progress of the city and the surrounding country along all lines of domestic, agricultural and commercial activity.

pii.iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii M.J. LAYMANCE M. J. Laymance, president of the Laymance Real Estate Company of which has 3,500 acres of land In Fresno and San Benito counties. He is secretary and general manager of the California Standard and Giant Oil Companies, also the Little Standard Oil Company at McKittrick, Kern county, and the Grand Pacific Oil Company.

In addition he is interested in oil lands In different portions of the State. Mr. Laymance was born in Georgia In 1856. He was educated in the public schools. In 1875 he came to California, settling in Sonoma county, where he remained two years.

He then moved to Humboldt county, Nevada, where he became Interested in the cattle industry. In 1878 and 1879 he added to the raising of cattle, mining and merchandising. He returned to California, and from 1884 to 1887 he farmed extensively In the San Joaquin valley. IN REAL ESTATE TRANSACTIONS. In 1SS7 he organized the real estate firm of M.

J. Laymance and from amall beginning that company has grown to be a thriving concern. In 1898 the firm Incorporated as the Laymance Real Estate Company, and is nop? engaged, in an active business, occupying as Its offices and salesrooms the entire ground floor of the Leimert building at 460-462 Eighth street. On its oooks w111 De sen the properties and names of some of the best and wealth iest of Alameda county's population. The company also represents some of the strongest Insurance companies on the coast.

The firm is the promoter and father of the town of Elmhurst, a suburb of Oakland, which has grown to be a thriving little city of its own. PROMOTER OF OIL INDUSTRY. Mr. Laymance is also one of the original promoters and and one of the oragnlzers of the Producers' Oil Asso -f proposition unles mixed with some of the heavier gravity oiL A READY MARKET. "i- i The companies find a ready market for all their oil, which is shipped in tank-cars which hold about 150 barrels each.

They are now shipping large quantitesdf oil to San Francisco, Oakland, Marysvllle, San Jose, Llvermore, Alvarado, Port Costa and other points. They also supply the Paraffine Paint Company with all its oil for refining purposes, besides selling large quantities of oil down at McKittrick to other companies who are drilling there. ECONOMY OF OIL AS FUEL. --t I The use of oil as a fuel; as compared with coalj has many advantages Taking into consideration the present price of coal afid the present price of oil, the saying th use of oil is from 23 to 50 per cent. Even if the price were of no advantage in the use of oil, a person once using oil as a fuel could not be Induced toj go back to coal, for oil is a self-f eederj which Is a great ad-vantge in the heating, of furnaces, etc.

Where it has heretofore taken two or three- men to firei a boiler with coal, with the use of oil it now requires none to do the work. PIPELINES. The corporations own their own pipe lines running fromHheir wells to their receiving tanks at McKittrick. The oil immediately from the wells is taken. Into settling boxes and tanks, where It is freed from all sand and foreign mat ter, after which time it is taken into the receiving tank at McKittrick station, from which tank it is loaded into cars.

It requires from twenty to thirty minutes only to load a full car. BIG WATER PLANT OWNED. The California Standard Oil Company also own its own water plant at McKittrick. Before commencing do any development work on their prop- erty it was necessary ror tne company rrom a casual onservation. There are over three miles of pipe lines, ranging in size from two to six Inches in diameter.

The two corporations are now arranging to erect the largest oil storage tank in the State at McKittrick, which will be of steel and have a storage capacity of 0,000 barrels. LAND VALUE INCREASED TWO THOUSAND PER CENT. All the Improvements are made in conformity with the future needs of the two corporations, and any forty acres of either thecempany's land will produce enough oil to pay large and handsome dividends on the par value of the company's stock for years to come. This will give a small -idea of the profit for those who invested in the Infant1' stages of the two companies' stock. The company's lands have now increased in value from $100 to over $2,000 per acre, and can easily be sold for the latter figure.

PRODUCT PAYING FOR EVERY-. THING. The financial standing of the companies is splendid. The two corporations are out of debt and. within a year, will have paid for every acre of land that they; now have under lease (having that prtvilege in their leases.) Most all of the money expended has been acquired through the sale of oil produced from their lands, the first in- corporators having only had to invest a small amount of money in the start, and their interests in the corporations being practically profit.

Mr. Laymance expects to see he stock In the two companies selling per share on the Board within the next year. INVESTED IN COFIDENCE AND WON. Tie. officers and principal stockhold ers in the two corporations are all men z.

s. it; i I I J. M. 0 per centof the raisins produced In the State of California. IN LOCAL ACTIVITIES.

Mr. Laymance has been an active member of the Oakland Board of Trade and has served in different offices on the Board. He was one of the original members appointed by the Board of Supervisors as a representative from Alameda county to the World's Fair and was elected president of the association which made the Alameda county exhibit at Chicago that attracted more favorable attention than any other county exhibit from this State. DOMESTICITY. In 1883 Mr.

Laymance was married to Mary L. Lemon, a native of Alameda county, and daughter of a pioneer, William T. Lemon. Mr. and Mrs.

Laymance have four, beautiful daughters, who are being educated in the public schools of this city. BUSY AND SUCCESSFUL LIFE. There is no man of his years in Alameda county who has the business instinct so accurately defined, who fcan accomplish great monetary undertakings better than M. J. Laymance.

His great forte is financiering, and In it he stands second to no man of his experience. He handles the sale of great tracts of land as easily as others would accomplish the sale of a single lot. In the herculean work of establishing the California Standard and Giant Oil Companies he found still ample time for other activities. Business engrossments do not seem to cause him mental worry. He puts on avoirdupois when active in every fibre of brain and body and loses flesh when there is relaxation of mental strain.

He is methodical In his habits, set In his opinions, when he has reason to believe himself in the right, and is, at the same time, considerate of those with whom he SHOWING These figures speak for themselves. are practically double the showing of the preceding ten years. They show that Oakland's financial institutions have practically doubled in resources and usefulness In each of the decades which has rolled away since the first bank was established in this community. These figures also tell, in no uncertain way, of the commercial growth OUR FINANCIAL INSTITUTIONS ARE SPLENDID NEW YEAR JLJf. frwTtw" BROADWAY BANKER prosperity has ibeen constantly de manding increased banking facilities and, with this increasing demand, the backing community has ever kept Pace.

In 18S0, there were three banks in Oakland. The Individual strength of these was as follows. Union Savings, First National Bank, Oakland Bank of Savings, J2.057,-294, making' a grand total of $4,298,137. and business prosperity of Oakland; of added wealth; of increased manufactures and manufacturing enterprises, of Increased value and growing confidence of the stability of value of real estate; of new ship yards, dwellings and business blocks in other- words, of steady and healthy growth; In every desirable direction and, at the same time, of a deep-seated confidence In the prog xx BY A In 1S30, ten years later, the number of banks had increased to five. The assets of two of these was $379,596, and $1,020,817 of another.

$1,183,746 of another, 84.311,307; of the fifth, making a grand total of $9,743,311. This represents a doubling of the total assets at the end of the preceding ten years. In 1900, there are eight banks In Oak land. These have assets as follows. Oakland Bank.

of Farmers' and Mechanics' Savings Bank Central Bank State Savings 7,451,292 568,994 2,676,346 232,764 3,884.680 309.729 1,145,755 934,210 Union Savings Bank California Bank Union National First National Total $17,263,770 From a financial standpoint, the City of Oakland shows a steady, iealthy, normal growth. 1865 there was not a bank In Oakland. In January, 1S69, the total assets of the only bank then in business here, was sum was sufficient for the needs of those earlier years. But the firm tread of progress and.