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


To those who are unacquainted with the
facts in connection with the discovery and
development of oil in Pennsylvanis, an
exhibit Of the actual production of oil
furnishes material for important reflection,
The business has already become so extern
sive that petr oleum furnishes that medi-
um of exchange with foreign countries
which was lost in the cotton kept out Of
market by the rebellion. In 1862 the en-
tire exports amounted to 1O,ls2,O2O gal
Ions; in ten months of 1853, to 2s,o7O, ,5ss
gallons, and since the first of Janusry,
1ss4, to aO,ls2,O2O gallons. In its magni-
tude it already competes with the coal and
iron interests Of that State The estimated
value Of thePetroleum found in Pennsyl-
vanis during the last twelve months is
two millions of barrels, which at eleven.
dollars barrel, high average, was worth
at the wells twenty-five millions of dol
lars. The pig-iron interest of Pennsylvs-i
nia during the same time amounted to-
100000 tons which at an average of $50.
per ton, produced ss7 100000. The coal
product for the same time is estimated st
IL, 2,o0o, 600 tons This at an average Prlce.
of $3.50 ton would make $4,000, 900.
The grand total of coal, iron and
oil would therefore reach the enormous
sum of $1SLOOOOoO. These figures show
that Petroleum, which has been
comparatively but few months in devel-
opment, promises in the course of the next
year to tske precedence Of both iron and
coal in the State Of Pennsylvania. Ar
rsngements are being made for sinking
vast number of wells during the coming
summer, SO that in one year from this time
the number of wells in operation will be
three or four times those now pumping or
flowing. In addition to this are the re
gions in Southern Ohio, Western Virginia
and Eastern Kentucky, that promise to
make vast additions to the amount of oil
already produced. No one can form any
adequate idea Of what viii be the results
when the production of oil reaches point
far beyond its present position. It will, if
we are not much mistaken, attain during
the coming year, value four times the
present annual aggregate, and thus mate
rally aid IN keeping down Foreign ex-
change, beside adding immensely to the
material interests of the country. The
people of Europe, from being timid and
fearful in regard to its uses, have gained
great confidence in it as an flluminator,
and are rapidly introducing it into general
use. This fact of itself will give perms-
nent value to the Petroleum trade. Reason
ing from analogy, We should naturally infer
that the wonderful pr Ovision made in ns-
ture for all the necessities of mankind,
such as coal, iron and copper, would not
find an exception in the case of petroleum.
We should be lOd rathOr to the presumption
that oil has been stored away in quantities
suited to all the necessities of mankind, and
that like coal it will prove inexhsustible
for many ye srs to come. The oil trade is
only in its infancy. The art Of cfprocuring
it from the earth is in its rudest state,
while such thing as the science of Perole-
um is not known IS are other sciences.
Men Of science differ as to its origin, differ
as to It's mode of deposit, as to almost every
question which concerns the crude oil while
yet Theoretically sealed up within the
earth. Under al these circumstances It is
but reasonable to suppo Sc that the produc
tion of oil is yet in its Incl pient stages and
that it promises to be vast and perma-
nsnt business. As yet there have been no
statistics that have shown the actual
amount of oil produced. It is estimated
at from four to five millions of barrels
As an illustration of the extent of the
trade in its relations to the Atlantic and
Great Western Railroad, We annex the
following abatement of the oil traffic ofthe
aboverosd, showing the amount of business
for each month since the opening of the
business. The statement is furnished
by C. W. Winslow, chief clerk
Of the Auditors Office at Mesdville, for
which we are much obliged It will be
seen that during the years 1872, the
amount shipped East toward New York,
is the amount lone indicated,
the road net having been opened up to
Cleveland until the spring of 1859; also
that during certain months when high
water prevails on Oil creek nd Allegheny |
river, and mud makes boating more ad-
vissble than wheeling,t hat diminution
takes place; a-. -,
STATEMENT OF THE OIL TRAFFIC OF THE ALLAN |
ITO AND GREAT WESTERN RAILROAD COMPANY, |
SHOWING THE NUMBER OF BARRELS TRANS,
PORTED DURIEG EACH MONTH, FROM THE |
OPENING or The BUSINESS, HAT, 1851, TO TEE |
S0th OF OCTOBER, 1854,