The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1865-03-28
New York Fr00dsAoil Excitement, &C.

The following private letter, received by
gentleman tris-city from-sae. of our citi
zens whose initials will be recognized, has
been handed us for publication.
Here we are within IT'S miles of our desti-
nation and with no good prospect OF arriving
tnere Tor two or three days. Oar progress
was summarily interrupted by one OF the most
extraordinary freshets that ever swept over or
deluged this country.@The- Oldest lnhabltaat
can remember nothing equal TO IL heretofore,
and the damages to the railroad, towns, cities
and villages along this route, have been i'm
mense. Bridges, houses, fences, logs, lumber,
wood, and whole sections oil the railroad have
been washed away, and our journey from N.
York has been attended with difficulties, dan
gers and distractions which would have dis
heartened and turned back less resolute men.
We left New York in the Lightning express
Thursday night, and here we are in Oswego,
236 miles from our starting place; on this
Monday evening. We hope to push on to e.
mira tomorrow, SO miles west BY walking 10
or Is miles. 6 n
The railroad Co. have large force of labor
eIs at work at every point and pushing for
ward their repairs as fast as possible, and they
hope to be able TO put us through in two days.
In the meantime, we shall press on by steam
and leg power as fast as circumstances will
admit.
All the trains are filed with oil men. 1t is
| the great, exciting subject of investment and
enterprise. We had 300 or more passengers
in our train and nine tenths of all the men
we're interested in oil = oil lands, or oil-wells
or the oil BUSINESS. d 47elrsanq
| The food has swept away II, 900 barrels of
oil at Franklin, nearly all there was at Oil
| City, together with derricks, bridges, houses,
tanks, and nearly the whole length of railroad
running down to Titusville and Oil City. This
great destruction of the article itself, together
with the means of transportation, must nee
essarily enhance the value of oil and stimulate
the development of other territory or the
sinking of other wells. 1t will aid every good
company and enhance the value Of their prop
| erty.
| We find the impression is strong among all
| parties who have examined the subject that
the lands of Cattaraugus are oil lands, and Of
fer greater inducements to purchasers. or OPP.
orators than those aroundOh Creek or Cherry
| Run. .FgHx Ffs5eE5 -,r-5t-f.
/ We have seen various parties from that very
section, some owners of lands and others inte-
| rested in the business, who expressed this
opinion. -V9 90.
| One gentleman in particular by the name Of
| Patch land relative OF A. K. Shurtleff ESQ.,
I who has resided and now resides on the East
Branch of Oil Creek, and who has been in the
oil business in every department, has bought
/ lands, sold lands, leased lands, sunk wells, re-
fined oil, and now has lands for sale, and who
has made good deal of money by his opera
tions in that vicinity, told nre that lands were
held so high all around there that little rno
margin for profits was left to any purchaser
or operator even if he succeeded in finding oil
on his premises. Added to this, the price Of
| everything was so exoi bitant, that very large
well had to be struck to give any profits. !
| told him about the lands in Cattaraugus, and
| he said he had been through portion of that
country and knew something about it, and
that he considered the chances OF success a
good deal better than any new operations on
Oil Creek or in that neighborhood.
He informed me that Brewer, Watson &
Co. of New York. who had made IS 600 900 in
Oil Greek &C., aud who were largely interest
ed in oil wells there, had bought and leased a
good deal of land in the Indian Reservation
in Cattaraugus Co., and would not sell an acre
of it; that they are now engaged in sinking
wells there. r r.a4-,
All the evidence we have been able to gath
or from every quarter tends to confirm the
conviction that our Company will find oil or
their lands. II every thing works right we
shall strike it with our first well. And the
prospect of good dividend on our stock i:
far better than that of scores of companies
who flatter themselves upon having secured
ten, twenty or one hundred acres in or nea
the famous Oil Creek. 8aa eTnlfeH
As soon as we can reach East Randolph, WI
shall press on the work OF sinking oar wells
And there we hope to procure additional ant
more conclusive testimony Of the great value
and productiyeness of our lands. ioas 81,
The weather during the past two days has
been ,oGrm. The grass is starting freely ant
the buds on the trees swelling rapidly, ant
soon the green grass and rich foliage will glad
den the eyes of the good people.
coats and felt uncomfortably warm.