Eastland County History 1922, part 3
History of Eastland County Written in 1922 (part 3)
Continued from Part 2
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Three railroads, connecting the important cities of Ranger, Eastland and Cisco with Breckenridge in the oil fields of Stephens County on the North, have already been completed, as follows: The Hamon Road from Dublin to Breckenridge ; the Ringling Road, from Mangum on the Texas Central through Eastland to Breckenridge on the North, with an immediate program of extension to Brownwood on the South and Graham on the North ; and the Cisco & Northeastern Railroad, from Cisco. to Breckenridge, with immediate plans of a north extension under way.
A significant fact is that of the several million dollars involved in the building of these railroads the greater part was contributed by local capital.
The banking capital of the county has increased within the last four years from an aggregate of not over a half a million dollars' banking capital and a million and a half deposits to an aggregate banking capital of a million and a half, with more than twenty million dollars' deposits.
In addition to the amount of money brought into the county in the purchase of leases and expended in drilling operations several millions of dollars have been spent by the important oil companies in the way of permanent improvements. The Texas Pacific Coal & Oil Company has its operating headquarters at Ranger, as has the Sun Company and several others. Ranger is also the location of a number of oil supply houses and shops. Nearly all of these companies have built substantial and expensive buildings in which their headquarters are located. The Prairie Oil & Gas Company, perhaps the most important producing corporation in the West, has its land and lease headquarters for Texas in a new $150,000 office building located in Eastland, which is also the Texas headquarters for the Prairie Pipe Line Company. The Production Department of the Prairie Oil & Gas Company is located at Ranger. The States Oil Corporation and its affiliated Duquesne Corporation, which is one of the most important in the Eastland County field, and which has several times led all other companies in production, is located at Eastland, its headquarters, buildings, shops and improvements representing an investment of about a half million dollars. The Associated Oil Company, of California, has its Texas headquarters at Eastland, where is also located the division headquarters of the Empire Gas & Fuel Company and the Gulf Production Company. The Gulf Production Company also maintains its pipe line headquarters at Ranger. The Ardizone-Braden Oil Company, the Southwestern Oil Development Company, the Montreal Oil Company and several others have their Texas headquarters at Eastland. and nearly all have erected valuable and expensive improvements.
Cisco is the West Texas headquarters of the Humble Oil & Refining Company, and this concern has built a plant near Cisco which is one of the most elaborate and expensive in the oil fields. The Texas Company also maintains its division headquarters at Cisco. Important operators and corporations are also located at Desdemona, Gorman and Rising Star.
As an index of the importance of the oil industry in Eastland County the following figures. obtained from the headquarters of various companies, of date the 1st of December, 1920, are significant : Wells now drilling, 407 ; wells located, to be immediately drilled, 138. These statistics refer only to new operations as of the month of November, 1920, and do not include wells already drilled, either producing or abandoned. For the month of November, 1920, the average production of the Eastland County fields, as reported by the ten major oil companies, was approximately 25,000 barrels per day, with an approximate value in daily production of $100,000. - History of Texas, 1922, by W. Barrett Travis.