New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-07-12
PRINCE PETROLEUM
ET5 nrSE INTO POWER.
Pennsylvania Oil Lands Giving Gut
NEW ONES TO BE DISCOVERED.
The Business in the Metropolis.
FIGURES, FACTS AND ESTIMATES.
Pennsylvania Oil Lands Giving Out
NEW ONES TO BE DISCOVERED.
The Business in the Metropolis
FIGURES, FACTS AND ESTIMATES.

In the year 1868, the business OF Petroleum
was at its hight. Pennsylvania. Ohio and Kentucky
were In the fuOn of their fame. The former was the
mother of oil the latter regions poured forth their quotas
in the funess of el affection. The springs were gush
ing Worthlesslands were becoming valuable Wa!l-st
had new hobby. liquid to be sure like goblet brim
med but with gold like green frog in the bottom Of
the emp. There money to be made and it was
made there money TO be lost, and II was duly los!
People talked oily they slipped smoothly in their WAYS
they were greasedy ircined they formed themselves
into lubricous companies and Petroleum became in
stitution.
Companies were formed You saw the Sims promi-
nently noticeable in the street. Individual spec.
ulators Tivsed the gold gamblers in point
of numbers nosiness and Importance. Exchanges
were constituted rsked and won; men
worked and failed; women were interested
through their husbands. brothers and agents. little
children went in" with the consent Of their
guardaus old fogies invested their surplus on oily
margn servant girls drew their saving tank accounts
and clerks Invested their savings in fact, since The
South Sea Bubble Of 200 years ago. since the gold ex
ci,enent OF California there was probably never such
frore of speculation as in the forthcoming Of oil
When merchants made a surplus, they invested in oil
Tie savings of actors and actresses waned enlarged
dlestiek.makers became interested in Petroleum. Ia
fact. Petroleum. became institution, as positively
recognized as Slavery and its abolition, States rights
aul their refntenon Rebellion and its downfall.
The number and diversity Of to which petroleum
has come TO be applied are almost unexampled in the
history of ang of the earths productions 1t gives
light in many forms. From clear Crystalline candles
or from the depths OF hundred dihereat kinds Of lamps
the waven. twisted or plated wick gives forth the
peculiar mellow gentle, mocn.like. but brilliant iumi
nation which he's largely taken the place Of SPERM
lard ard almost every other oil.
AS lubric4tor of machinery il has also superseded
or supersedng otter oils. 1t Is used in Laboratories
for the preparation of various chemicals. and forms
itself the main element OF q hundred valuable com
pounds. Indeed il would be difficult TO mention one
ha Of the wonderful which petroleum is applied
As an article in the commerce OF this country, its
value is so enormous 10 be compute with didence
and wonder. The iron yield Of Pennss lvania is com
rutcd 20 possess on annual value Of 80 00) 600; the
coal yield about slOGOOOO0O. Though yet ia its in.
aacy the latter interest only does petroleum yield
hc palm. As clement Of trade it exceeds in import
aud magnitude The gold productions OF the Pacific
States And by its substitution. " iluminator for
nable millions are saved
The amount o. business done in the present year is
act great two years ago when the business was
IN the acme Of its ror Nevertheless, the shipments
rom this port greater than those OF last year, The
o wing table will show the relative quantities Of the
exports Of Petroleum for the years 1863 and 1864: