Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1865-10-04
For the Baltimore Daily Commercial
THE OIL INTEREST OF RkUTTYynpr

Inc amount OF cash investment in the business n
boring for Rock OIL actually paid out bv the citizopt
Vi Daitiore lor the purchase ofland and machinery
with winch TO deveope the is about one D,7;ou
o. oots"fS' IN round dnumbers-represcnted by a nom-
mai capital of about 6UemiUioR of dollars Nos+ -,
the lands are in Nenango county, Pa but 4 norton
Is IN Western Virginia. There arc in operation tyc
companies, the stock Of which is almost exclusive =
owned by Baltimoreans; but three or four of those
companies have as yet been successful in obtaining
| OIL VIZ: The Baltimore and Venango; the Chesa-
peake and the Baltimore; the two first paid several
monthly dividends of two per cent. each but have
PAID nothing for several months past. Several COM
pahieS nave struck oil on their property. but so far
not IN paying quantities, viz: The Pennsylvania
the Patapsco Lubricating and the Monumental. All
WIN one or two exceptions are still prosecuting the
search and some with excellent prospects; the expcn-
ses necessarily attending the search are heavy and
Dear heaVlly upon the working capitals nearly all of
which are too small for the full DEVELOPMENT of the
territory Of the companies, which range from 75 TO
800 acres
1t to be hoped that the spirit of enterprze that
prompted the investment ofso large sum of money in
tne search Tor OIL will be rewarded with some share of
the business that already been reaped bv other
ueS VINO have engaged in the same eundertaking-good
management, combined with sufficient nerve to over
come temporary obstacles and drawbacks which arc
incident to all enterprises, have been crowned with
success III many instances, and why not in ours? I'm
less the search Is continued cannot expect to find
IL Is SAID OF Baltimore enterprises generally that if
they do not pay an the outset the stockholders become
discouraged, and by abandoning their interests loose
all whereas the history of all undertakings every
Where that many lfnQt most Of them have had hours
ogloom when failure appeared inevitable but by con
tihued perseverance, unswerving faith and liberal
expenditure many have been brought from the dentbs
OF darkness and almost certain ruin into the light of
success.
In other countries the business of mining (Which
IS always an uncertain one) is expected to have its
periods OF unprofitabeness; but in England especial
ly, TINS Is not considered cause for abandonment
but an assessment is cheerfuly paid n which gencr-
ally Is more than repaid in a short time by good divi-
dends. What has been done by others can be done
again; very many oil wells and mines that have ap-
parently become exhausted, have, by their former
owners or by others, been resusctatcd and made 70
pay good, and in some cases, brilliant dividends II
Is therefore to be hoped that large oil and min
ing interest will be pushed forward hopef,llIv and
while success may not oyery effort that is made
1t may reasonably be expected ,cih some: let the
tmld take courage, and the Companies who have
their property in charge, if managed by live prudent
and honest officers and directors iberaly provided
with the snews of labor, as we'll as of war viz
money when successful results may he expected as
have been achieved by Others 1t must be borne in
mind that mines and oil wells cannot be opened in a
dan or a 'rcch and until ttHy opened no man know
eth what results may follow.
STOcKH0LpEP.