Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1861-03-07
Pennsylvania Oil Wells..Heavy
Sales of Land. Jefferson COun-
Nv Over Trading,

" over Ira0lnS.
The fever is raging in Virginia, and
large sales of lands have been made. We
learn from Parkersburg papers that during
the past week there have been consumma-
ted at Burning Springs Va, two extensive
sales of oil lands-one embracing portion
of the Burning Spring property, and the
other portion of the farm opposite, on the
south bank of the Little Kanawha river
1t appears that Mr.. J. C. Ratbbone has
sold, or contracted to sell, to Judge Cam
den, of Clarksburg, and Judge jackson, of
Parkersburg, and seven others, his individ-
ual title 10 fifteen and one-half of two
thirds interest in two hundred acres of land
with profit of one ninth Of all the leases
taken upon it, for $lO0,000-five thou
sand, in hand, ten thousand in six months,
and the rest due in twelve months. Messrs
Charles Moore and ]. T. Jackson, of Wes-
ton, and R. S. Andrews, of Baltimore, pur-
chased all of the interest of T. W. Hender-
son and David Paden, in - acres of
land, on the opposite side of the river, for
$4,000, and the Little Kanawha Burning
Spring Petroleum Company have since
purchased one-third interest therein
The latter sale is a contingent upon oil
being found upon the land. These sales,
averaging between fifteen hundred and two
thousand dollars per acre, says the Regis
ter, are of land which one year ago could
have been bought for less than one hun
dredth part of their present value. As
tonsbing as this may seem, it is yet deem
ed the greatest bargain ever sold IN this
country, as, should the land continue to
yield oil, even in moderate quantities, the
rents alone for one year would be worth
much more than the purchase money. The
actual value of the land can hardly be
computed. The Lewellyn well, for in
stance, which yielded five thousand dollars
worth of barrelled oil in ten hours, would
pour out, if funobstructed, over thousand
dollars worth of pure oil in one hour.
Favorable indications of oil have been
discovered at New Bethlehem, Clarion
county. A company composed in part of
J. F. Mackley, R. Richardson, DR.. Mease,
J. G. MendenhaIl, VIM. Shipper, B. Black,
numbering eleven in all, have struck the
leading oil vein, as supposed, on the two
mile run, above Franklin, which it is pre-
sumed will throw out by means Of steam
engine some twenty or more barrels per
day. George C. Porter made another
fortunate strike on Wednesday last. A
rich vein was struck at the depth of two
hundred feet, from which the oil flowed
spontaneously in great quantities at the
rate of about fifteen barrels in thirty min
utes. The well is on the Clapp farm, and
is known as the Porter & Kern well. 1t is
stated that an oil vein giving promise Of
paying was struck on Wednesday last, at
the State road, in Clarion county. The
Ben Franklin Rock Oil Company, COM
posed principally of residents of the city,
was organized on Monday evening, at
Woods Banking House, Fourth street.
The officers selected were as follows: Pres
ident, Hon. H. A. Weaver; Secretary, H.
G. Lippencott; Treasurer, Abner U. How
ard; Managers, Jacob CLOSER, George II.
Thurston, Joseph Ross, S. Severance. A
majority of the stockholders were present,
and the company was organized under the
most fiattering auspices.
In Jefferson county, to such an extent
have investments in the oil business been
made that, the Jefersonian says the COM
munity of BrookviIle has been completely
stripped of money, leaving scarcely suffi-
cient supply for the ordinary transaction
of business. Some three or four have OBJ
tanned oil, and are likely TO realize fair
profit upon their investment, while many,
having expended their means in dry holes,
are returning to their old homes to lament
their bad. luck. $50 far as Jefferson county
is concerned" says the Jefersonian, "tbe
oil experiment has been a failure, and if We
were to collect all the oil that has been
procured by citizens of this county and
could sell it for twenty-five cents gallon,
it would not pay the travelling expenses OF
all those who have gone from here to
search for ii, to say nothing about the ex-
pense of boring, machinery, DC. The great
frost of 1859, the present suspension of
banks, and the dull prospect for the sale of
timber, has been nothing when compared
with the continual drsin of money which
is being carried away in the search for oil.
Should these things continue year longer,
Brookville will be as dead as Clarion, and
willIlose all her reputation for business and
life."
By letter received to-day from cor
respondent, we learn that the company.
above Smiths Ferry, Beaver County, while
boring by hand some time last week, was
suddenly alarmed by an extensive explo-
sion of gas, of such volume that the
augur was blown out of the well, which is
some three or four hundred feet deep. Dan
iel Allaback, one of the operators at the
we'll, was blown some distance from the
well, without receiving any injury.
The recent thaw has caused great loss
and destruction of property in the oil re-
gious. AT Tidiou,e, derricks, watts of oil,
oil barrels, full and empty, and boring ap-
pliances were swept away. The Al
leghany river was full of floating Ice, with
oil barrels, derrecks, timber, DC, upon it.
One man had vat containing one hun
dred and fifty barrels of oil swept away
The aggregate loss, it is said, will be i'm,
mense. Two men were obliged to spend
the night on a Tree on an island, not being
able to cross the river.
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