The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-11-22
THE OIL REGION.
On. Frankiin Corrsspona..ss.

41AG VIII =
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Our Franklin CorrespO ndepce. /
FRANKLIN, vsnaugo County, Nov. 10, 1896.
Activity in The on Reoie~-Great Increase sf Ncs
Comers-CapitaI Arriving in AbSndance-Oh Wells
Doing We'll By Further Working-Adrdntaaes of UniSeS
Capital Ouer Individual Etorts-Change in ~ CAovactsr
of NeU Immi0rants-Vaa Preparations for Active
OPERATIONS The Immense Wealth Of the Cl Regios-Ad.
vance of Petroleum Article Of Commercs-cl
Stocks Going Up, dc.
Since my there has been little Of note transpirne
In oil matters The market at the wells for crude IN
steadily advancing. Ten thousand barrels from the
well Egbert farm sold day before yesterday
nine dollars. The ruling prices at present may put
nine dollars, to locality OF wells.
There is a marked increase In the number OF strange
in the regions. Some. perhaps, only 70
what Is to 10 seen; but think larger portion nte
rested in territory, or intending to be- In this little
town. where few years since not to know everybody
to be yourself unknown, no longer ask "Who 10
her" when stranger. One thing In particular ID
noticeable In this increasing influx OF new facest
tho arrivals present marked difference 10 ap-
pearance those who two three years Tho
corners mostly and indus
trous. doup-but generally Of limited resources.
and consequently not able to develop ths territory
they undertook except in a partial degree. single
failure ended their operations, and they left dry hole,
which remained q TO those who after
wards These failures scattered al the region.
But, territory grew in request and reached almost
fabulous prices In value these partially developed and
abandoned dggngs attention OF par
ties and many an old forsaken we'll s now In successfu1
operation. The new men have done what the hrse
operators did not have the pluck or means to do
they have bored down to the spot where oil IL. You
know how much deeper the average depth OF sinking 10
to what it in the start. Men are making for
tunes the spots pronounced failures three
ago gather from these facts the idea that what
10 wanted more than anything else to fully develop this
oil country an abundance Of capital Individual effort
cannot WELL the that the capital
sary seldom found in possession OF man. and p
found the possible risk OF failure deters any from
assuming large risk. With companies the s diff
erent The individual risk with them need not be large
The work OF fully developing any tract can be prosecuted
upon largest SCALE with failures consequent upon
LACK OF capital to push through; and every mans share Of
responsibility graduated by himself he thinks
his means viii warrant. II ae does not like show he
can et his money back. at least in almost all cases
whore the territory is good. the
united efforts, and that this will especially be the Case
with new territory The men now coming as stated at
immigration in the fact that they represent capital in
greater less degree 1t has sometimes been said that
money do any thing Money will get oil here where
the want Of it would produce failure.
principal part Of the prospecting and transactions
creek and French creek territory II worthy Of note
how mach attention paid TO Sugar creek auda Is
by any all talk but just full OF bona de
operations Oil creek in proportion to what s talked.
They boring the creek az far as Cooperstown
]
French creek maintains its interest and will be more
fully listed during the coming winter and next spring.
tcs Operators goperSaps the greatest results are here
after be had along the banks Of the river above an
below the You will notice that Franklin SO Tar az
producing wells concerned, fast becoming entitled
to called the centre Of Greasedom Every new strike
the river increases the claim. Hoover plumer'9
new we'll, mile or 80 below, and Dale 4 Morrow,a
strke on the Cochran farm, with the old Hoover well
Roberts Boyds well. and the old well on Cochrana
place-all yielding wels-ought to convince anybody
that there plenty OF oil along the river. predict
and am going stick to t-thst people will bore fog
creek are played OUT think also that this whole or
business is yet in its infancy though aid NOT think so
one fSer. ~as period q
oil history one quarter Of the Preparations 10, Tor
was there ev half so much actual work at boring going
the time there now. There pever vas 40
any one time 80 many Operators ana prospectos 10 .nS
all matea ais Connected with the business as there 20.
day There never was so much capita, ,nvss;sq ana
and the ready 10 test every available spot thas
promises success. -
cations of great Efforts to come, for never did any
single article OF human traffic offer such Inducements -
an oil well resents What is q common bank OF dis.
and deposit in comparison TO two hundred barres
well, SO far as dividends goS What human means were
ever invented flood pockets like tho Sherman or Maple
Shade wells Along either OF these four inch holese
with dollars worth OF derrick over them, the Uned
Bank in its palmest days was one horse con-
Germ We have goated the California gold regions,
and men have written over acres OF paper describing
-
this discovery and trade 10 oil outside OF those
directly indirectly concerned II 10 but few months
the New York newspapers began TO notice petro-
leum Ia their market reports. Even while indviduAl
foresight and enterprise neusrazing the hat odor
New York mud by the more pungent smell OF rock Oh
along the wharves the city daies were obvious OF
its existence. The metropolis OF our State was
lar behind New York In her appreciation Of the mag
ntude cf tho new discovery on her own territory.
Boston ahead OF both New York and Philadelphia ID
her knowledge Of what TRANSFERRING here and 10 turn
ing that knowledge to her advantage. How s II nowf
Oil is quoted regularly gold. has taken It's place
the stock board II has done what no single article
Of lmption demand has done: II has got
stock exchange itself Il true there corn ex.
change but in this connection means all KINDS OF
grain the surplus capital OF the country n
an excitement and is TO day thing OF three years.
growth as article OF commerce, and at the same
time in wealth. utility and Importance, the foremost
commercial product Of the world. That assertion, e
these who do know s standing and progress, VIII
gross exaggeraton while to those who nave psac
teal know ledge OF its rise and progress u but simple
truth Who that knows what IL what IN OIL would risk
his reputation among strangers by telling all ne known
would not; but IL would be hard TO cxaggerate when
speaking OF discovery wonderful In its deveiopmene
and bearing such relation does 70 mans enterprse
and wants. -
You will notice by the Philadelphia newspapers thaA
Maple Shade has gone within few days from $i2 70
SCI and that Cornpanter Is up TO 81 Is