The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1864-12-17
OnIa,ellixe.se.

OF StduullS Stohc Ai"e's ~
from twenty-five hundred to three thou
sand. acress ituated in Writ county, West
Virginia, near the celebrated Rathbone or
Burning Spring Tract The property ex-
tends from the Little Kanawha River,
near Burning Spring Run, across all the
waters of Standing Stone Creek, ineiad-
inc portion of Robinson's Fork and
Two Rifle Run, and is Immediately IN the
Great Oil Break extending from Burning
Spriug through by Standing Stone and
Petroleum TO Horse Neck Wells, near the
Ohio river, and embraces the line OF
upheaval,
In READING the advertisements ofoll
companies in the columns of The DAILY
REGIsrER the reader will be impressed
afresh with the yastness of this new
source ofwealth, which has suddenly
sprung up in our country-sprung up
simultaneously as. il were ont of the
bowels of the earth. In Pennsylvania al
ready the proceeds from the oil wells ex7
ceed thost. of her immense coal anu IRON
mines, and in West Virginia this new IN
terest has advanced in few months with
giant strides, il being estimated that
some twenty millions Of dollars have been
invested i'm petroleum lands IN that re-
gion within the past year Indeed, the
progress of this new branch Of national
wealth seems to have been developed in
time To supply the loss of the great cotton
nroduce of our country Already remit-
tances are largely made to Europe In this
mineral oil instead of cotton or gold.
on IN LEWIS CoUNTY.-Lewis County,
in this State, situated on the sonth side
of the west fork Of the MonOngahela
river, is looming up as oil region The
county abounds in minelal wealth, al
though hidden by the finest farming and
grazing lands'm the United States, yet
under its surface lie immense beds of coal,
of the finest quality, which is furnished
at six cents per bushel, and recently the
oil excitement has sprnng mp From the
usual signs of oil, such as burning springs
and surface indications along the line ex-
tending from the borings in Pennsyl-
yanis To the. bOrings in West Virginio,
one can almost trace an imaginary oil
line. Already bOrings have been COM
menced in Harrison county on the east,
and Gilmer county Oh the west. Oil has
been obtained, and from thence to the
Ohio River oil territory has brought i'm
mense prices and is eagerly sought after
Lands are cheap, ranging from three to
S25 per acre. Large tracts OF Wild lands
in this and BraxtOn, Nicholas and Kama
wha counties, can he had lying along the
route of the projected railroad, West
Virginia Central Railway for which n
charter and right of way has already
been granted, and large amount Of the
stock taken, ami offering to capitalists a
safe and lucrative investment which Is
already being eagerly sought after.
OH IN GUERNSEY COUNTY, ,OHIO.-The
Guernsey JeJasonidn says: We were
shown last week rock from the farm OF
Samuel Lceeh, in Adams township, which
gave unmistakeable indications of oil
1here is no doubt that oil in abundance
abounds upon his farm, as well as in
many other places in Guernsey county
There is q rich, though yet undevelOped
field for oil spectators in this neighbOr.
hood The numerous creek bottoms of
Guernsey county are rich with the oleagi
mons fluid
A well informed correspondent favor.
| the Pittsbhrg Commercial with The follow
ing Communication on the subject OF on
companies their mode of organization
their defects and suggestions how Il
guard against future difficulties:
I'm the present depressed state of the
oil stock market, we are met al every
corner by nervous Stockholders, who hay,
in the prevailing excitement, loade,
themselves with shares expecting to re-
alize quickly and largely on their invest
ment. These parties cannot understand
why il is that such depreciation in tn,
value of apparently good stocks should
so speedily follow the closing of the sub
scription books A little reflection vii
enable them To trace the cause Many o
our companies are neither properly OF
ganized nor managed. A. Is & {. wis
cannot in probability muster five thOu
sand dollars between them, associate To
gether and dispatch one of the nnmbe
to Venango county, Western Virginia, o
Ohio This gentleman obtains the re
fnsal, tor say thirty days, Ola tract Otter
Titory at a certain price, (say fifty thou
sand dollaIs,) paying for this refusal, i
may be a thousand dollars Having thu
secured the basis Messrs A. B d c
open subscription book, and announce
in flaming advertisements that the "Sticl
in the Mud Oh Co" j. under way with
capital of 100000 There is not
doubt that the Stick in the Mud" vii
declare dividend Of three per cent
the first month after its organization o
perhaps Immediately on the closing o
the books The worthy public, fiushe'
with oil on the brain, rush TO th'
Office and subscribe freely. la tw'
OF three days the Stick in th'
Mud" Is full" Three hundred thousant
shares at one dollar per share. Messrs
| A. b and e cali in the first payment o
say fifty cents pei share, pay the fft.
thousand for the property, leaving il
their hands, Tih the capital stock only hd!
paid, the comfortable sum of one hun
dred thousand dollars True, twenty-fiv
thousand of this amount Is sci apart 70
working fund 10 deyelope the fac
whether oil is obtainable ar not TIN
part OF the prospectus We shall eoRside
in another connection Tie fifty per cen
being paid in, a meeting for organization
is caned Up jumps Jones, (sly fellow
Jones shot in the ring Of course,) pull
a slip of paper out Of his pocket, and b