Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1860-03-24
The plEgest Oil Report Yet.

Il would seem az II the oily region of this
country is really being tapped in the iugular.--
The Pittsburgh Gazette of the 2lst, publishes
the following account of what is going on in
the vicinity of Oil Greek, the particulars OBJ
tanned from gentleman from the heart of Oil
dom. The Gazette says;
The commercial cauldron seems to be boiling
still higher in that excited EldOFadO Of Western
Pennsy lvania. The discovery of a new we'll
the next one that has been tested to the Nc
Clintock, has thrown far in the shade all otheI
similar windialls of a previous date. Three
weeks ago q gentleman from Brownsville, Mer
Ger county, was offered an interest Of One.sixtb
in the Crosby well, which had then obtained
depth Of 100 feet, and was regarded as one that
promised fair. He consulted his friends and
declined the investment as being extra hazard
Gus. Since then the well has been carried
thirty one feet deeper, where an extraordinary
vein was struck, which has been called tht
jugular vein Of the whole oilTegion. A steam
pump wss procured and put dow, and last week
operations were begun, the result of which
showed yield Of oil which far exceeds the most
sanguine expectations of eli concerned. Sew
eral gentlemen, BY actual measurement and
timing by the watch, made an estimate of the
amount, and their calculations gave from two
and half to three gallons per minute, or from
ainefV to one hundred and fiCeRty barrels per
daV! The enormous value Of this we'll will be
better appreciated by comparing with some OF
the best wells in the Oil Greek district. The
McClntcck, on Oil Creek three miles from the
mouth, yields eighteen barrels q day. The
Drake yields l2 bbls, day though its capacity
is supposed to be { vice that much, the pump
ing apparatus used being defective. The er.
gineer has offered to give Mr.. Drake twenty
one barrels per day and take the balance for
pumping the oil up. The Barneswell well, in
Crawford county, about one fourth Of mile
from the Venango line, yields twenty five bar
res daily. Its depth is 100 feet. When MIR.
BarneswelI bad bored 100 feet, he sold q man
| from Ohio q one sixth interest in this well and
the whole trace adjoining, comprising some 200
or 800 acres, for $4,000, $500 down and the
baionce in annual payments OF the same sum.
Mr.. Evans, the blacksmith in Franklin who
bored his own well, has been offered SlOO O0o
/ for it. The terms he demanded were $4,000
down and q responsible bank TO honor hit
check at any m"ment for the balance. BE hat
also refused $4,000 year rent for it. The Ar
| mold yell has reached the depth Of 100
| Gset. Six o. eight veins of oil have been
>tsuek, and the pToprietors are still going
~sF, The Franklin Company have bOre0
oISs t..% striking oil at 240 feet, and com
,.a,oaJ =. pmPing last Friday. Indications
~" Tbe 4 4oVeF we'll, three miles below
F.anl,,;n an The ,Sank of the Allegheny river,
bsS been bored II2 feet. Oil in sufficient
ovsptiIv to nav has been found, but the pro
nr;eLors are going deeper in search OF the great
vein stru,k bv Che Crosby we'll The well OF
Graf & Painter, su Oil eEeek,' mile from the
mouth. is reported to be good one Ihey
were putting up an engine last week and VIII
be pumping this week. At the mcnth OF COT
| dor Run, below TidiOute, on the AEegheny'n
| Warren county, well feet wide WAS sunk
| TO the deDth Of ten feet, when the wc-kmen
came to a rock and stopped to 90 for their Dor
inc tools: when they returned the found i've or
liz inches of oil on the rock and dipped of
90 gallons. They are now boTirg the rock
and expaet great results. There are not less
than 200 wells now In various stages of progress
and in 80 days it is estimated there will be
1000. Previous to the discovery Of The Crosby
we'll, the excitement was excessive, but now 1t
battles description. 1t isPsrvading every class
of men, merchants, manufacturers, mechanics,
physicians, lawyers, and it is said, has even in
vaded the pulpit There is not lawyer or
merchant in franklin who is not more or leRs
concerned in the oil business. The farmers
particularly have become almost infatuated,
and are mortgaging their farms to procure
money at 2 per cent. a month to be invested in
oil wells The hotels are crowded, stages are
filed to Overfowing, and vehicles Of every sort,
private and public, are in constant demand,
though still the wants of travellers are not sup
Piled The excitement in New YORK city Is
also intense, and daily arrivals from that vicin'
ity are reported at the houses Of entertainment
1t has been thought that this large increase
in The supply of oil would deteriorate Its price
hutthe following would seem to set at rest any
ap pre- tensions Of that character. The firm o.
E1elitch, Bissell & Co, q very heavy house II
J New York, have sent cut an agent to the oil
district, who has bargained for all the oil pro.
dueed by the Crosby, Drake, McClintoek anc
BarnsweIl mills, during the next five years.
BE agrees to sell the oil at = commission of
| er cent. and to advance ten dollars on eaet
barrel shipped to the firm in New York. who
SsEs purchased site in Franklin at $4,000
which they are about erecting very lsFg'
rennel- SsTacter Of the oil varies. Some Is Q
~, Ae 8 -esr snt color, and answers best TO-
ngnl NanSs r.. NT oil is darker colored, stih an'
e Dulhine; On, Qakes an excellent lubricator
penetrating, per and is that produced in the
Crosby mill; OF the L, '''' ''''' - Wv '--'
and McClintOck mills.