OIL: New Resources

Drillers struck oil last week in the muck of Florida's Everglades, where Humble Oil & Refining Co., biggest domestic affiliate of Standard of New Jersey, bailed out the first 400 barrels of black crude from the first producing well on the Eastern Seaboard. Standard's 11,700-ft.-deep well added fuel to the old hope of geologists that the great Gulf Coast oil beds extend eastward to the Atlantic, comprise an area almost double that of the present known fields.

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