Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-11-29
OIL In CUYAHOGA COUNTY.
/" Broke out In a New Spot !"
Indications " in Fast Cleveland.
locating Oh Lands in independence.
EXCITEMENT AT ROCKY RIVER.
Real Estate Looking Up"
The Spectators on the Qut vive.
Real Estate "LOOking Up"
The Spectators on the Qut vive.

Within the last month, and more espe-
cislly within a week or two, the attent on
of spectators in petroleum in all parts of
the country have been turned, with singu-
lar and extraordinary unsnimity, to various
portions of Cuyahogs county, as sffording
excellent "indications for OIL The oil
excitement which has been agi-
tating the country has overhowed
its fountain head, the Venango county and
French Creek region in Western Pennsyl-
vania, and is now spreading over all parts
of the West. Lands in that locality have
been driven up to fabulous and romantic
prices; and speculstors, reasoning justly
that there is no reason why oil-wells should
be confined to that particular region, have
prospected for oil elsewhere, with success.
1t seems that the eyes of shrewd business
men, in New York and Pittsburgh, as well
as in this city, have been turned of late to
the indications" offered in certain locali-
ties in this county, and, by most remark
able coincidence, the oil excitement has
broken out simultaneously in at least three
different townships in this county at near
ly the same time-East Cleveland, Rock
port, and Independence,
In East Cleveland, the best prospect for
oil appears to be along the creek which
empties into the lake near the residence Of
James Fitch, Esq. The "indications" are
stated to be mainly in the geological form
alton of the rocks in the bank and valley
of the creek-precisely the same commin-
gled shsle and sandstone as that of the oil
regions in Pennsylvania. On the farm of
! R. C. Smith, near the ro,d running from
the village of East Cleveland to Collamer,
gas spring has been found, which burns
with great force and regularity when
lighted, and would supply half Cleveland
with gas. The spring also smits, as we are
informed, a very distinct and powerful
smell Of crude petroleum. The surface
of the water near is also quite oily,
and the most experienced oil-hunters
think they have a sure thing here
A company has been formed in this city
which has quietly leased abut two hundred
and fifty acres of land up and down the
creek from this point, and which proposes
to sink we'll at once at this spot, and
probably to bore for oil in other places
near. They are now procuring the neces-
sary engine and machinery, and will com
mence work Immediately.
We hear also of indications near MoIl-
rath's tavern in the townshipof East Cleve-
land, and learn that eager oil-hunters are
now prospecting up every rsvine in search
of indications.
In Rockport the excitement is also great
and on the increase. Similar indications,
geological, gaseous, and olfactory, are found |
in that township, and especially on the |
Mastick farm, at the point where the Lo-
rain Street plank road crosses Rocky River, |
some three or four miles from its mouth,
and about ten from this city. Here arc
found gas springs, oily smell, shale rock,
&C., &c. Great excitement is prevalent in
that quarter, two rival companies, formed /
in this city. being in the field with offers.
One company offers to lease all the land
in that section, paying one-eighth of the /
yield in oil to the owners. Another offers
one-eighth of the yield of oil for q lease of
one-half the several farms. But the own
ers are sturdily waiting for better offers.
Meantime the fever runs higher and high
er, and prospectors are swarming along the
Rocky River. Sunday was day of peculiar
excitement, the best offer for the land yet
made having been rendered on that day.
An agent for company at Oil Creek has
been at work hunting up indications there
and has returned to Oil Creek to report.
Many private individuals are also busily
engaged in hunting for ell.
We also hear that most excellent indics-
tions for oil have been found in the deep
ravine of Tinker's Creek, near its junction
with the Cuyahoga river, in the townships
of Independence and Bedford. We learn
that a very prominent and successful bust
ness man of Pittsburgh, of large experience
in the oil business, has been in these town.
ships during the past three or four weeks,
locating and leasing large amount of oil
land, which he intends to operate immsdi-
ately.
We heard yesterday, also, of the opera
tions of an agent for firm in New York
city, largely engaged in the oil business,
who has been busily at work during the
last three weeks il leasing lands along the
valleys and raviues of streams in this
section, under pretence of wishing to use
them to pasture sheep. The transparency
Of this pretext is easily seen.
in Parma they have also been struck
with the oil fever. A well has been sunk
about one hundred feet The unlucky
liggers have struek-not oil, but-a rock,
which, unlike that which Moses struck,
Won't even yield water, much less oil
We seem pre-doomed to an immense oil 9
excitement. The lucky owners OF srms
where there are Indications" will q
doubtless lease them to spectators,
It high figures, who will sell them to other
peoulators at higher figures. and so it will t
,ol Should the whole thing prove a fail :
ire, like that in Mecca, and in dozens Of q
ther places which had the oil-fever in II
$50, the bubble will burst, and somebody {
will lose most fearfully. Should it be sue h
essful, it will be, to quote President Lin s
oln's classicism, big thing, not only for d
he towns named, but for Cleveland. But 81
behooves our citizens to bear steadily in b
mind the strong probaiity that it will not
rove successful, and to resist all tendency il
o undue and excessive excitement. 81
New CouETEEFEIT.-A Five, on the Bank D
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