Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1861-02-22

I al ulIeotlouAs n oOiAon puAAoAs "AA'oo va
that the excitement has at last reached Hud-
son, and that q subscription paper has been
started on It's rounds to dsfray the expense
of boring. He says "consultations have
been held and notes compared, the result Of
which has been that fle' is expected from
the rock underlying the ground here. 1t 10
thought that indications in the form and
substance of the rock are very favorable to
the project. Every preparation is beng
made for drilling by steam, and they will
be pushed along vigorously"
Every day we hear of numbers of persons
embaking in the new enterprise. How
many Of these will be successful and how
many are doomed to disappointment it is
impossible to say; but that the latter will
be the case with no small portion there seems
little reason to doubt It is probable, and in
some instances certain that the yield of oil
is very much smaller than is reported, but
the aggregate of the wells is now immense
and is constantly increasing as new wells
are bored, so that the price of oil must, it
would seem, inevitably fall.
It is said by those who should be best in
formed upon the subject, that every well is
liable to become exhausted in time, and that
therefore the plau Of sinking so many in
clSse proximity is an extremely injudiciouS
one. In some localities, we are informed,
land Is portioned out into lots but few feet
square, upon each of which pump is in
full operation. Unless the theories of the
geologsts are incorrect, It cannot be long
time before the reservoirs in these places
will be emptied.
A correspondent, on February 14th, writes
as follows to the Pittsburgh Gazette:
MEssRs ED1ToRs A few weeks since you
noticed the fact that company has com
menced boring for oil in the Borough of Sc
wickley, of this county. I now have the
pleasure Of informing you of their success.
Last evening about 6 o'clock they st uck
most promising vein Of oil at the depth Of
about one hundred feet.
DR. John Dickson, who is a most thorough
and experienced geologist, after collecting
all the data he could, and examining care
fnlly Rogers State Report, came to the on
clrsien that the Sewickley valley was the
centre of the great oil basin. The oil-bear-
ing rock crops out of Franklin, Mahoning,
Smiths Ferry and Lanawha, thus surround
ing us, and clearly indicating that our val
lev was about the centre. The undulating
surface Of our valley, and the high hills
and the deep ravines on both sides of the
river, also seem 10 indicate the existence, at
some former time, of great geologic forces
such as the fracturing and upheaval of the
rock.
These facts stimulated the formation of
the Sewiokley Mining Company" which
commenced boring a few weeks since on the
lot Of G. F. Rudisill, Esq, in the borough,
and whose operations have been crowned
with such signal success.
The oil appeared on the top of the water
at the mouth of the well in such quantities
as clearly to indicate that something had
been struck. Itwss brought up also in the
sand pump. Enough was gathered to estab-
lish beyond controversy that tie oil i0as there
It only requires now to be sank to a sufficient
denth to insure first class we'll.
This morning the excitement was greater
even than last evening. Men are out explor-
ing all the rayines and bottoms and nun
even has gone up to fabulous prices. The,
universal sentiment this morning is Sewick-
ey against the world for oil !
The Pittsburgh Chronicle says:
The wells in the Mecca oil regions are re-
ported 10 be Welding handsomely. That of
Orrin Yates, HartsgrOve, Ohio, gives thirty
barrels in twenty-four hours, and Cain,
Hughes & Graeter, Pittsburgh and Warren,
are getting nine barrels per day. Several
other Of the Mecca wells yield twenty-five
barrels. -,
From the Franklin and Fitusville oil
regions we daily hear the most encouraging
reports. The Keystone Company Of Sneak
levville, it appears, have been fortunate IN
striking good vein, at depth OF over four
hundred feet, some two and halfmiles be-
low Franklin, on the east aide Of the river.
The celebrated well on the opposite side OF
The river, known as the Stewart & Hoover
we'll. still continues, at the latest account, a
great success. It is stated that Mr.. Stewart,
formedly of Mercer county, has sold his re
naming one-sixth of the well for the small
sum of 81 $50, making, if we are correctly
| informed. the snug little sum of S28,5OC
which he has realized for his interest. being
L the one-third Of the concern, This, too, Is
in addition to the amount which he has
/ cleared from the proceeds Of the we'll while
heremained partner therein. Who would
not be an doll man." if like fortune were II
Il every case guaranteed faylng WelS ait
daily changing hands throughout the OF
regions at almost fabulous prices. The price
Of oil at Titusville is put down by the Rur
al Argus at from twenty-five to thirty cent
per gallon at the wells, barrels found and de
Iivered, and oil taken away by the. purcha
sers.
| In and around Youngstown, Mahoninl
county, Ohio, things are beginning to assume
an appearance indicative Of vigorous pros
ecution of the business. The Pioneer Com
pany have ceased drilling, and will IN fev
DAYS commence pumping with an engine
The Mahoning Oil Company have erected
derrick on the upper end of the Rayen Park
nearly opposite the Pioneer Company's well
and will commense drilling in few days
Mix & Co., a Cleveland firm, have leased
portion of the farm of William Rice, lyinl
adjacent to the Himrod furnace, and vii
soon commence drilling. Strawbridge
Co.. proprietors of the stTawbridge well, be
low Lowell, have leased the farm Of samue
Gibson, with the intention of commencin
operations Immediately. The well Of VIM
Powers, two miles east of Mahoning, is sal
to have reached a fine vein Of oil, whic
/ promises a good yield The Book q Moor
well, at Lowell, commenced pumping O.
Monday, with fine show of oil. 1t is esti
mated to be a twenty-five or thirty barr'
we'll
D1AsoL1oAL.-The Lafayette Journal say