, 1865-07-07

H.
mile below, causing literally riyer to burn
50 much laber and business as Is here re-
! Quiied, has caused q village to be st 4rted In
lis vicinity, Which, though MT Jet three
| weeks old boasts two telegraph, stations,
/ tels, With kitchen aud cook stoves in The
optn air ,snd any amount of thieves. gamblers
| and blacklegs generally, which rs to N Axe
up village ni this description. Msautlma
TIE t'Heyner'' we'll, scarcely thlrd Of q
mile aboTe, which commenced flowing few
weeks since, has bad It's sucker rods dawn,
| aud Is steadily flowing slx hundred barrels
| per day. And now. to add more facl to ths
| excitem: nj which already existed, 1wo more
wells were successiyely struck On FIidaT and
| Sunday week last, short distance below the
Others, VII ch arc eac1 yielding f.pn three
hundred to four hundVd ba1rls daily, vita
sucker rods and valves IL. promising TO out
withdrawn. The yield Of Oh On Pitao1e can
not now be lees than 8. 900 barrels daily, aad
every dag seems to threaten new well, with
corresponding increase Of this producs
The excitement oceaslonod by this uuex-
pecttd yield Of Tenango county wealth, may
be inmaginsd, bu. can h.1dly bs described.
eptculators, I" tnellers," s!ght-seers and
"opersto,s" Of all surts daily wend their
Way There In carts, wagons, on foot and on
hortehack, in pla1oons, reglmsnts and brig
ades. Lenses o: town lots, 5or tArse peary.
are cold at from $500 to tG03. On Saturday
last was witnessed eeene there which
would rival California In its palmtest days.
below the "Holmden," on which the ttU, s,''
well Is situated, taking advantage Of The e1-
element. and the tabulors prices which are
being paid for leases OF boring lots. deter.
mined to lag on. thsir lands in half aefe lots,
and sell the leases at auction. after 1csesving
han the oil, and fixed price, or
pared their maps. 6xed a scale d. prices.
averaging q, 500 per lot, ueasdes huff tbs oa,
and INN ottered 10 public competition he
premium that should be paid oyer and above
this price and reservation. The auctiou was
held In the woods on the farm Of Vim.
Shrs bdly, arranged 80 a. to be held In the
large tleEing wells, which, being tubed high,
poured with g1oanings and thunde.inss TO be
Dea:d afar, ITS torrents Of ol INTO The huge
tank be.ow, In sight Of ali the people. It
presented constant proof more porent than
any auctioneer's ''blAfney," Of the quality,
OF Tie property, thsy were called upon 70
Gurshase; - a great steEa s,. atse@slsl Hun
It was quite like acamp~mfet.ng OF the oiden
time seeen charitahly. not crltcally.} Ths
EoIk wind aud the It'd uu.ic hbove were
BEAUTIFUL, the fierce and heated passons be-
low, not 50 much So The praise OF God
TsIe [;n in 1he sssrs sae h. Golden Ca!f aod is
1oe blddlng was spirited. The aurtionrer's
hammer itll rapidly as lot after lot WAS
knocked down, and the great well roared ap-
plause to the purchaser. In one hour all tbe
log s. TsEs da sold at prices ranging from 900
Zach lot cost from $40 d00 to III 900, besides
o1e-han the oil, ard heard Of an instance
Of two being sold at private sale at g 900
each, or el6, ,u0 Tor the acre, and halt the oil.
But large as thus price may seem, what is II
compared With q we'll which, IN the Course OF
events, may be found upon the lat ! hare
for OVER one million doltars. The nex. thing,
l suppose. lhe 6kIlinl propn=tors OF this
farm Will do will be to sell in Ike manner
,, c and bye, their hall oil Interest reserved
IN these same lote. and which will then, tav-'
ing wells going down cn theu, be greatly en-
HANGED IN value, and thus enable them to
clta ar two or three millions OF dollars for a
farm which could hare been purchased
one year ago. =. this time, for SIC, ,0Oo or less
Such is h:s.crJ Of Ole SECT, N OF the oil
dlgRingE, perhaps the most remarkable ona.
My letter is too long 10 detatn you with much
OF an account Of othess In the vicinity. though
scarcely less interesting. A sing1e word with
Stcwn1ts Run Is the next stream east OF Pit
hole, parallel With 1t, aud scarcely ten 1uiles
distant from 1t. Like Pishole in the summer
q 1864, 1t was unthcught Of as oil territory.
fothh.g bu: on Creek and Cherry Run would
do at that time. Tbs United States Com.
pany," with Keen foresight Of coming
tytnss," but almost amid the Iidtcule Of the
Cherry Run aristocracy, leased several farms
On pi1hole, and commenced N the fall put
ting down @tu. They also leased the
''Atchsrt Farm" On Stewards Run, and in
the winter commenced putting down a well
there: The striking Of their famous well on
Pitholc. caused tic immediate taking up of
al the lande, eyen to The very bill-tops along
P1thole, at fabulous prices, and alnast At the
same time its 12nds On Stewards Run passed
more quietly but scarcely less RAPID into
eastern and corporate hands, until none re-
mains In the hands Of the original owners
INTO Ie valley, but not until Aprl vas tie
second EEL slarted. This was started by the
Farm" ne1t aboTe tie "Hesken.n Tic
pioneer well Of the "U. Cor" on the lat
ter, is now down SOS feet, hasl1g been delsy.
cd By various accidents, Thila its younger
stripped It by twenty feet. B,th have given
the most gratifying ''shows." OF oil while
being bored, and the propr1etors of both feel
confident that In two Or three weeks more
time they will be able 10 reproduce Pithole
in Its best cstste,
Attbe present time more than thirty wells
are under way, at various depths, from 100 to
800 feet, ana being rapidly prosecuted. In
thirty days more the number will be doubled.
No doubt whatever Is felt a. to tie result, the
borings thus far showing the same rock for
nations, and at neally the same depthsus At
Plthole, while the shows Of oil and gas have
exceeded any they found On that stream at
corresponding depths. The wells On Ptthole
are ilom G12 10 CSC feet deep. It Is believed
when those on SteEart's Run have reached
$50 to GOO feet, ali the wild excitement Of Pit
hole Elu be enacted here.