Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-12-20
Oh liens.


nounee bogus oil companies and oil specu-
lations in tnst section saws correspondents
of the New York Herald forward exa0-
gersted reports of oil discoveries, etc, and
modestly claims to be the only reliable az
pOnent of the business interasts of the oil
country OF northwestern Pennsylvania
Oll wells have done big things in their
day. The Phillips we'll has flowed 600
barrels per dag; Empire well 1000; Sher-
man well l,5O0; Noble well 1900; Cald-
well well 500; Maple Shade 1000; JERSEY
well 900; Ooquette well l, 800; Reed well
1000 barrels per day.
w. Walker, of Pennsylvsnis, says the
Marietta Times, sold TO new England
company, on December Sd, $50 acres on
Bull Creek for $25,OOO; 100 acres on
French Creek, near Long Run for SIS, 900;
4OO acres on Long Run-s tributary of
Little Muskingum-for $50 OOO Nosmsu
excitement prevails on Bull Run and
French Creek.
A large tract of land, 1000 acres in one
block was sold few days since BY Mr..
Charles Z. Mills, Of New York, to parties
IN Pittsburg. The indications of oil are
said to be very good. 1t is situated at the
mead OF Oil and BrokenstrsW Creeks. and
MIlligat Run in Warren, County Pam.
| EVlusnia.
They have an oil excitemsnt in ,Jssper
county, Indiana Petroleum mas bee7
discovered in the ledge of rocks upon which
the town Of Rensselaer, Is built, and the
same characteristic pervade the entire Iino
OF the IroquOis Rspids. Two companies
nave been formed.
At Washington, Pennsylvania an oil
company has been formed, with Hon
William Montgomery at its head. This
company has about ], 500 acres Of valuable
oil territory on Cheat River and Dunkar8
and Whitney Greeks, sll in the neighbor-
hood either Of successful wells, or wells
| sufficiently tested TO insure paving. An
oil company is about to be organized at
Tyrone City Blair County, to be known
as the ABald Eagle Valley Oh Company"
It has been decided by several scientific
gentlemen that the indications for oil on
the premises Of Messrs. Pruner and BufIey.
near Tyrone, are indisputabla.
BOnton, Barry q Co., on Meigs Greek.
near Unionville, Ohio, are doing thorough
work in their oil explorations. They IN
tend to bore to the depth Of l,2oO feet if
necessary and TO put down four wells. In
Little Muskingum, Cow Run, Mil Fork.
PsWpaw and Maeksburg, wells innumers-
bic are being bored. Engines and derricks
are common sights.
An oil well has been sunk TO the deptb
Of two thousand feet st Jackson, Michigan.
and it IS proposed to continue It to the
depth Of three thousand feet if necessary,
to strike ola depth of four hundred feet
greater than any we'll yet sunk on this
continent.
The Needles well, on Ransom's Run.
Peasants county, West Virginia presents
several peculiar features. At the depth of
Ss4 feet q crevice was struck, and the sand
pump descended $40 feet without striking
bottom. On striking the crevice. a flow Of
gas ensued for about a week. The we'll
was then tubed, and seed-bAg placed just
above the creVice, Whereupon the well
commenced flowing oil and water in con-
siderable quantities. which continued fcus
days, when, the tubing proving defective,
it was Withdrawn. A BLOCK of wood.
nearly the size Of the well, was sent down,
attached to the sucker-r0d. This block
struck the tools, where it rested-s cir
cumstsnce deemed to be proof that the
crsVice was at an angle from that point
On stripping the seed bag, the seed de-
scended on mass Of parahne, which had
already nearly chOked the we'll and closed
the gas vein. The weight Of water in the
well has since retained the mass at the
bottom, and retarded the fow of gas and
oil Steps have been taken to close the
we'll and it is confidently expected that It
will prove to be \ very fine one.
A Franklin letter 10 the Mead7ille Re
publican notes the following sales:
One half Of Bannon Farm, next be-
low the "Shsif,r ia IN, on the Allegheny
river, sold fr SI5a 900 C. Sbirk's farm,
above the Franklin, IN the river, sold for
! $500, 900; the arm next above Shirks,
belonging 10 the Plumar estate, sold forr
$4,000; a sixty-second part of thirteen
; acres on the Eg5srt Farm, On Oil Creek
, was sold to-day Tor $4,000. At that rate
the thirteen acres would be worth between
two snd three millions Of dollars.