North Branch democrat. [volume] (Tunkhannock, Pa.) 1854-1867, 1864-11-30
THE PENN'A OH. REGIONS.

| To most of our readers the coal oil region
OF Pennsylvania is almost as much of mys-
terry as Otaheite, or the paradisaical islands
| of the South Sea, SO charmingly pictured by
Herman Melville. They have heard of big
fortunes being made there. and have some
| vague idea of region all filled with spout.
in wells of infamable oil but few have any
| realizing sense of the true state of things
and many look upon it as "a humbug of the
"Alorsis Multicauius" sort. Yet there it is
right in the upper and Western part of the
old Keystone State, along the Allegheny and
its tributaries-as real as the gold mines of
California and great deal more tempting to
the seeker after sudden wealth. For here
are fortunes made almost literally in a
day and here, too, are The gulls and the
flats cheated out Of their money, every day
and every hour, as in other parts of this
wicked world.
Petroleum, or rock oil, in its crude state
exists far down in the bowels of the earth,
IN strata of sand rock" at depth of from
400 to 500 feet, There are no natural spout
ing wels-the oil is only obtained by labori-
GUS boring and for this business capital is
required Those who have acquired the
greatest wealth in the shortest time
in the oil regions, are persons who
had the luck to possess or inherit LANDS
beneath which tho evidence of rich oil de
posits were found, and which consequently
sold, after the old mania, had fairly set in
for almost fabulous sums.
Two thousand dollars was considered a
large sum, four years ago, for farm of from
three to four hundred dollars each, and par
ties who now own them, principally joint
stock companies, of course hold them at
higher figure. There are parties, also, who
hold individual fractional interests, such as
one-eghth. one sixteenth one thirteth, Sc,
and the value Of their proportions can only
be correctly ascertalned by the books kept at
the wells. But in some instances. if these
values were considered, the property would
be held at the almost incredible sum for q
farm, of from two to three millions of dol
lars.
The value OF the soil alone bordering on
Oil Greek, say two miles on each side, and
extending from its Mouth to TitusvlIe, about
twenty-one miles, is estimated at two hun
drad and fifty millions Of dollars. This
smaI! area has yielded, since 1860, about six
million dollars worth Of oil. And this is
but part Of the oil region. All coal fields
of Pennsylvania, yielding an annual value Of
more than $50,000,0 600, produces less wealth
than her wells OF rock OIL
1t is producedin absolutely inexhaustible
quantities, and at such a comparatively tri
fling expense, (alter the machinery has paid
for itself) that the article ought to be sold in
our grocery stores for one-half its present
price, which is about $3.50 per q glllon.-
Four distinct and separate profits are made
on it hcf,re it reaches the consumer and
with all these it ought to be cheaper than it
is-allowing fair profits to the company, the
middle men, the freight-carriers and the
store keeper. 1t is second only to gas for
Illuminating purposes and it has already
driven whale OF! pretty much out Of the mar
ket