Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-12-20

| oil regions. On SUNDAY there were
quite a number of gentlemen from
the East here, who expressed great impa-
thence at being delayed. They were afraid
that somebody's "thoussud bArreP well,
lately struck ON some lsnd mile or two
from where they had bought q lease for
twenty thousand dollars and half the oil,
might cease to Aow, or else overflow The
whole country, before they could arrive on
the ground, and that therefore they might
not be able to get the million or two otdollars
out of theirproperty that was certainly in it.
Strange it is that sIl such talk should have
sounded strange to people here in Wheel
ling, SO near the oil region, but truth is
| stranger. than fiction, and therefore the
talk did sound strangely.
Some persons well kp4Yn 70 the public
are reported to have MAD ~ good deal of
money in oil. Senator Ean Winkle is said
to be one; Cougressmdp Blair auOtheri
Senator Carlile another Blair was part
ner in the celebrated sGilfillau flowing
we'll, in Wood county, and is reported to
have gotten some forty thousand dollars,
or such matter, for hit share. We hear
of several here in Wheeling who have
made small amounts. All however have
made by selling territosy. It is said to be
rarity to see man who has made money
by developing the yieldof oil and dealing
in the product Of his we'll afterward.-
This being so, the moral would seem
to be, when you strike oil sell the land
quick
The turn that tEps are now taking,
since the victories Thomas and the
prospects of Sherman, and the going down
of gold, will probably have depressing
effect on oil. Greeubacks not being at 80
much of a discount asof late good many
people will not be soanxtous to put them
into something safe.Vifke oil. A good many
of those who have pvsAheir greeubacks into
something safe-like oil-wIll be very uu-
easy about getting them out again and into
something safer-like. 6.20s. Already we
notice that one of the Pittsburgh papers
speaks of the heavy and declining c0ndi-
ton of oil stocks. The Chronicle of that
city remarks as follows: ...
"The oil stock market is glutted just now.
and the result ID the progress being made
by the companies tsoently started is ex-
ceediugly slow and Sedious. Stock that If
put IN market p1Ath ago would have
gone off like hot cEkes, now scarcely at
tracts notice, aud Subscribers instead of
hasips ~ 5s5gtle7 49,. oti.sF 20 get down
their subsOFiptions, are like angels vista,
few and far between. All this comes from
overstocking the market The thing has
been overdone, and the public appetite so
pslied and glutted that the most meritO
rious companies lsnguish for support, or
die still born: where three weeks ago their
stocks would have been eagerly snapped
up at o premium. Time will, however,
correct this. As the new companies de.
velope their property, and new strikes are
made, the excitement will be renewed and,
under its influence, the stock OF those or
ganiZations now in progress which remain
uusoId will be rapidly taken up 1t may
take weeks or months to accomplish thisI
but it is only question of time, the more
especially as the organizations lately star
ted began business on q far better and
more promising basis than most OF their
| predecessors, and offer much better induce
ments to capitalists. In the meantime
spectators in oil property will have TO
keep very quiet Some of them are doubt
lees caught with very large elephants on
their hands, but the great majority ofthem
have been doing we'll and can afford to
bide their time"
Before concluding this article, 1t is ne.
cessary that we should say to the world
that we, ourselves, are in the oil business
that is, Gus" of the InteIEigsResr Office.
We are in it this way, however We print
Oil leases, and therefore we sell Oil leases,
and, by the way, we sell great many of
them, too but We do not sell any oil ter
ritory, for the reason that we do not own
any. Some psople think from our adver-
tisemeut of
"oIL LEASES FOR SALE"
that we havelauds, or rather leases oflsnd,
on hands for sale. A gentleman at Graf
tou, who writes to US as follows, evidently
thinks we are regularly in the oil busi-
ness:
GRAFTON, W. Va, Dec. 10, 1854.
Editors InteIligsaesr:
Gentlemen: In your issue of this date,
observe your notice of oil leases for sale
(Have you any fee siuples p Our house is
in the market to buy (isases or tee.)
Please forward TO us description of To-
calities and prices. If satisfactory, you
will Rnd buyer
Yours very truly, W. n. WEEDS,
OfW. q. Weeds & Co., Philadelphia
We are only sorry that we haVe'nt q
lease, or fee simple, or few barrels o.
oil that We could sell to our correspondent
for he has evidently doll on the brain" and
would buy freely. From Grafton down to
Horse Neck and thereabouts, however, isuO
far, and they'll sell him down there to hii
full capacity. Our ancient friend Col
Ben Wilson, who was lately here, is dowr
there, aud he has all his side pockets, hil