New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-06-11
MEETING OF PETROLEUM Oil
DEALERS.

DEALERS.
A meeting of Receivers and Dealers IN Crude
Petroleum and its products was held yesterday after
noon in the Produce Exchange, No. "a Pine street.
Mr.. A. C. FERRIS was called to the chair, and Mr..
Wales was appointed Secretary. The president
stated that it was now lees than live years since the
first petroleum was brought into this city. 1t was
obtained at Tarentum, on the Allegany, from an
artesian we'll and was sold for supposed medicinal
virtues. Its Illuminating properties were soon 1ouno
ont. and since 1857 the business bad been wonder
fnIly deyelored The oil belt reached from Canada
TO the Gulf, through the States on Kentucky, lem
nessee Alabama and Florida. Another oil belt ex.
tended from Texas through Kansas to the Mississppi
River; it had wide range running through Kansas
10 the Rocky Mountains. Also upon the Paclnc
Coast there was belt beginning about san Diego,
ana so on by Los Angeles TO Upper California.
Ii was go cheapy produced that large amounts were
cent to Europe, Australia, south America, hiflca,
and in fact the whole world seemed to be looking to
us for light The bulk Of the trade conferred here,
ns matter of course. Over million Of dollars
were invested III and around this city, ana the cap
ital invested otherwise amounted to some millions
more. He saw a man here who had told MIN tnal
he was interested in ls oil wells in Penney iyena.
IL was important, therefore, to have right action
taken in the matter Many errors had arisen 10 re-
gard 10 this product, and out OF them grew emoar-
RAISING action the part OF the Insurance Compa-
nies and City Governments This came upon a
product too, upon which Government relied 10 the
extent Of taxing up TO half its value and the oil
men would not complain Of the tax II the money
went to put down the Rebellion. lCheers.l lie
referred especially to the action taken by the Com.
mon Council OF brooklyn, which he said would
probably he followed in this city. Philadelphia was
acting very literally " the endeayor to concentrate
this business there.
Tie SECRETARY read the action of the Brooklyn
Common Council, including the ordinance prohibit
ing its storage.
The President said that this ordinance was based
upon an entire msapprehensiou of the properties Of
refined and 10 some extent of crude oils, and they
had the attendance of professional chemist, who
would state the result OF bis experiments.
Prot. SEkLEY Of the Medical College said that,
however rock oil might be egislated against, yet the
people had learned that cheaper than and
they would have IT. Some people had an idea that
il was explosive, but you could put out cigar or
match BY dipping 1t into It. But there "as quasi,
expIosiyeness about it. From tbs an accident had
happened by csrelessness in Jersey City, and he
would not blame Legislatures for Furnishing that
neglect. This petroleum was the most I'M
portant raw material Introduced 10 the ser
vice of man during the last century, and they
would have 1t, though it were as dangerous rs gun
powder. But it not. There was in it very
small quantity, never more than per cent OF very
volatile substance, called by chemists keroselene,
but usually called naphha. SO volatile this that
* inc anu illUkinp Win Auc
on rare occasions produced an explosive compound.
But there very little OF it; the expense Of re-
moving il could not be very much and il would not
be difficult 10 make the barrels tight that 10 could
not escape The main objection 10 rock oil was It's
SMELL but it's smell growing less unpleasant, be-
cause we were becoming accustomed To 1t. In ten
wears nobody would object TO it, and IL would put
Gu end TO gas-works III towns Of lees than 600 In
habitans.
Mr. WALES stated that since the LIST of January
. S5i, 900 gallons had been exported, TO say nothing
of the home consumption, and the demand had borne
10 proportion TO the production. Consequently the
price had fallen TO and below cost in many instances
The community were benefcarIes in regard 10 il.
Nothing now known could replace it. He thought
nobody had right 10 fiDgle out petroleum from
burniDg-lluid, camphene, spirits turpentine, and
other naval stores, and place il alongside OF gunpow
der. Ii was injuring the business with the Insur-
ance Companies and the carrying trade.
Prof SEELEy stated that he found that the belief was
quite general that this OIL could be gnited by coal
OF fire spark; but it could not. The fire in
Brooklyn could not, therefore, have been occasoned
by the smoking of pipe, Us had been said. IL re-
quired flame TO ignite II. To spontaneous combustion
this oil not subject, though linseed oil and cotton
dipped in oil were thus liable. lie knew of no sub
stances with which Rock OIL could be mingled which
would produce mixture liable to spontaneous COM
busion. Linseed oil and alcohol could be mingled
with many substances and produce such mixture
There had been good deal of damage from burning
OF the Oil, but was damage TO the owners OF the
oil alone. lie thought that many more accidents
had resulted from the use Of burning fluid.
Mr.. WALES stated the fact that, in the
Willamsburgh fire, the hoops lay together as they
fell from the barrels. The oil also made very local
fire; it burned where 1t was, and nothing more
there were no sparks or ciuders.
MIR. WILLIAMS related instances Of fires which
evidenced that article could be burned with SO
little risk TO the vicinity ~ this oil.
The following resolutions Were then unanimously
adopted:
Rsred That the action Of the Common Council of Brook
yn passed June 1862 Ia regard to storage aud manuis
rre Of petroleum oil within that citys limits, think
made without proper inquiry In to the heavy interests
involved.
Rspsd That the demand for tho crude oil and its products
having become matter OF inquiry aud demand from all parts
of the civilized world and bong article Of large export as
web az home think tho honorable Board OF Aldermen
should give to this trade every privilege consistent with the
safety Of adjoining interests and afford facilities this
important and CROWN trade requires
Resocsf That Committee of i've be appointed BY tbs
meeting to walt upon the Committee appointed by that hon
orabIo body for conference In regard those interests
The Committee was constituted as follows:
O. Williams b. o. Ketchuu Y. O. Stsarns. P. Rust,
M. Frisbis. A. c. Ferris
The meeting then adjourned subject to the call of
the Committee.