Oil Lease
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Oil Leases Made

(Galveston Daily News, February 5, 1901)

Beaumont, Tex., Feb. 4--A Number Are Being Filed For Record at Beaumont--Fifteen Acre Leases--Secured By New Orleans Parties Who It Is Said Have an Abundance of Money--The Royalty is One Half--With Other Considerations As To Dry Holes--Ten Rigs Going This Week.

The only noteworthy feature of the oil situation today was the unusual number of leases which were placed on record in the County Clerk's office. These leases, though numerous, do not contain anything of very great importance with one exception. This is a lease from O. B. Greeves, E. A. Fletcher, K. Fletcher, and others to E. G. Schneider of New Orleans, covering a 15-acre tract of land, which was purchased after the Lucas gusher was struck. The deal was made by O. B. Greeves with the owner, Charles Ingalls, a few hours after the Lucas well spouted, for $4,000. By the terms of the lease, work must be commenced on the new well within 30 days and prosecuted with diligence. Mr. Schneider represents a number of New Orleans capitalists, and it is said they are in command of as much as $25,000,000. The royalty is one-half of the crude oil produced, with other considerations relative to dry holes, etc. Other leases filed today cover various small tracts in different parts of the county. A large portion of them were made by L. L. Emory of this city.

More active work will be done this week drilling wells than during the past three or four weeks. Several drilling rigs reached here last night and quite a number are en route here. Before this week is gone, there will probably be as many as 10 rigs working actively.

There are some new arrivals this morning and a large influx of people who went home to spend the Sabbath. Judge A. M. Carter of Fort Worth is here and has secured some very attractive leases which will be developed.

Some little uneasiness has been felt here over a claim in the John A Veatch and P. Humpries surveys, which include the Lucas well, which is made by Harry Masterson, for an interest in the land through the estate of Charles Cleveland. Mr. Masterson says, however, that he has no idea of disturbing land titles; he merely claims a fifth interest in the Cleveland estate, to which belongs a part of the Veatch league. (Ed.'s Note: Judge Charles Cleveland of Galveston leased 1,000 acres of land at Spindletop in Sept., 1891, for oil and gas exploration. Title to this land was in dispute, and soon after the McFaddin, Wiess, Kyle Land Co. sued Judge Cleveland to try title. See W. T. Block, "Emerald of The Neches," p. 466.). (comp. by W. T.Block)

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