Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-12-19
TEE OIL REGINYs.


The Speculation i'm Lsntis-- MOnOpOIies
IDjuriO1stO the PetFeieum Interest
---Ab0ut Lsases---Eaps of the Oil
BegiOn-.Extent of the leHIaP-maIktna
BusiRess-..Frauds IN RERPs---AbOut
The Titles to Oh Lands--.Great Lit
igatlon in PrOspeet---AbOuIB Buying
on SroeIrs=.-GRIua ana Losses In
saIes---A Few words Of Wsr0'ng.
Editorial Correspondence Of the LEADEB
The views expressed in my former letter
have found ample confirmation by wider
observation and various interviews with
intelligent oil men. The present land
mania, the disposition to make money, not
by actual developement of the oil territory,
but by buying lauds and selling them sgsin
an advanced premium, is looked upon by
men having the interests Of the oil trade
st pocket, If not at heart ss calculated TO
be essentially detrimental. In your wan
derings through the oil region, but espe-
eially at such centers of trade as MeadviIle,
Franklin, Oil City and Titusville, you will
find fifty men ready to make money by
speculating in lands where one can be found
anxious to dsyelops the territory. The
reason for this is very apparent in the fact
that the selling of lands at advanced rates
is 8 certain source of profit, attended by
none of the risks of actual development
Of the territory whereas, in sinking wells,
the chances, even on Oil Greek, are moi
more than one in six at thevery best. The
result of the present land mania will be
that land may be purchased cheaper in
many pisces two months hence, when re-
fussls run out than can be at this present
iims.
Another evil of which considerable COM
plant Is being made is in connection with
the leasing of lands by companies that
have bought up the territory that has bean
most thoroughly tested. These companies
greedily insist Cd an e1orbitant bonus be-
fore they will allow men Of smaller means
teEundertsks the deYsiopsment of their
territory. This is done in face of the fact
that the more rapid the deveIopement of
the land the greater are their profits, and
thst this develoPsmento of their resources is
accompanied without any expense to them
selves, In order thatthe supply of petroleum
be kept up, it is estimated by experienced
oil men that as many as 800 wells should
be constantly pumping and ], 500 constantly
going down. Asitis, the most experienced
drillers for oil, who would gladly work
where they could have an interest in the
products Of the earth, are compelled by
the great companies that have been organ
fzed, to seek employment in some other
quarter. In defense of our views we can
not do better than to refer to the expert
ence of all men who have endeavored to
obtain leases on Oh Creek or Cherry Run.
In addition to my recent observations
onqwstsr4colored msps and rOse-col1red
visions some observations on maps in gem
eral win not be Improbable. Strange as
itmay seem, there is not yet 8 good map
of the oil regions Of Pennsylvania There
are sketches of Oil Greek and its tributa-
ries; there are a few roughly drawn out
lines of Venango county, but no accurate
and satisfactory map has yet been pub
lished. This defect is soon 70 be remedied.
a large and detailed sIIss OF Ins
gions will be Published in the month of
tJHnuary, IN New York, which will meet 8
very important demand. There is also to
be published soon, BY Mr.. Townsend, Of
MeAdvilIe, q small msP prepared by Bfr
Dale, Of Mesdville, who now superintends
the drafting department of the Atlantic s.
Greatwestern Road. Of Crawford county
the Oldest map is one published near the
beginning of this century, while there is
yet another published in 1889, These
maps are so scarce and 50 much in de-
mand, that twenty dollars is freely offer
ed and refused for one OF them.
In connection with the oil business
there has grown up distinct branch of
business In drafting and sketching. There
are offices in Mesdville, Franklin, Oil City,
and at other points, where experienced
dTaughtsmen can be consulted. The bust
ness is also followed by number of young
lawyers at various places. As soon as q
man makes purchase Of land, the very
next step is to have q sketch
of his territory. Themor elegantly it can
be drawn, the better for the man. As
general rule these maps are drawn chiefly
with view of showing how close to oil
bearing lands the new and undeveloped
purchase is. A few strokes, by sskiIlful
msnipulator of brushes and INKS, makes
the new land snugly moored in the imme-
date vicinity of some marvellous wells
All lands for sale are laid out with view
to showing their vicinity to the crest flow
ing wells. In many Gases, where ire
sponsible and unofficial drsgghtsmen are
employed, maps are drawn without regard
to the facts in the case. Streams and gul-
lies are put down where they sre not.
Relative distsncesare ignored The sinu-
osities of Oil Creek and other streams are
accommodated to the purchasers fancy.
Large wells are placed in such close prox-
unity to the territory to be sold that the
eager gudgeons who buy can almost see the
oil flowing from the wells upon their own
These maps are frequently |
taken to the Eastern cities and to other
places, where men are supposed to be cred
1lous enough to buy merely on such repre-
sentations. The deludod purchasers, on
coming to The oil regions in guest of their
lsnds often found themselves badly gulled.
Bottom lands were found to be on hill-tops,
md tarriinru saarnin,,l,. On 4ho ..... - |