, 1865-08-01
PIT HOLE.
Another Great OIL Strike.


tcc1s7tponeence Cltyel:nd Hsss1d.l
on Saturday last g new doMinK well vas
tt1u. K on lot II Of the Thomas Holmden
1stni' AZ present writing 1t premises TO O. De
"a large we'll as any Jet developed. This
Is the sixth flowing we'll In succession that
haa been struck within an area Of halt mule
On Fit Hole. Parties holding interests within
t1as mage basin arc aEtonndcd at the resatt5
thus far, ahd ave eagerly. prrssing forward
thclr. work With the hope of tloEing wells.
The we'll on lot u has ns ye@, no name, but
ought 10 be called af1sr its chief owAer, Or.
Dstchlsr.- Of Westmore1and conrtC, in this
STATE. Last spring the doctor, in whose
good fortune all rejoice, gays up bis pill bsgs
and came here. Obtaining lease he went
to work himself Too poor to venture all he
had In one Htll, be first sold eevan.si1teenths
Of The working interest for $3.50 each; afseI-
Watus he sold one OF tTo more for 81 gat III
rance. The lucky purchasers have Increased
inE!y. The interest set held by br. Deschler
Elll confer ample wealth upon himself and
family. OF the free interest In this Deschler
vel, one.fonrth is owned by the United
states Petroleum Company, and oae'fuuEth
by Duncan & Brother. The United States
company have now an interest in tivc flowing
wells three touttas in the old United States
vel, now flowing 800 barrels daily oae-
fourth IN The Twin wells, one-fonrth in ths
: Island vel, aud one-fourth In tho Deschler
We'll. ihe sucker rods In we'll No. were
drawn On Saturday last, increasing the How
70 about fire hundred barrels. Well No.
VIII 40 stu better when dealt with In the
Fame manner.
Conce, ming the Island we11, as wrote you
before, there has been dispute IN regard to
It's location. The surveys of the original
surveyor Of this region, as we'll as those Of
the County Surveyor, locate 1t on the Nck.n-
neg ia1m. Consequently one-fourth belongs
e the y. 8. Petroleum Company. In addi~
t,on to this the t'rospectiys resources o: the
cempany are immense. From bonuses M-ao
tley wilt realize more than the e..Ip:tsl stocE
Ct the Whole company, which h q half mill
itn, besides having free one.fourth interest
n several hutdFed wells that will be put
doWn On their property. Many believe that
the stock, which has been eelliug In New
York for thirty dollars, will reach hundred
before the beginning Of next year. The dlyj-.
cent, Notwithstanding Tic great expanse
tanks Tor tho United States well.
or these there are now uluctccu,
with capacity Of over onc thousand
barrels each. So faf as can be seen, the Com,
Mr- Burchilj, Of New York city, who Is Vice
P esident and General Manager, gives emil,
ncnt satisfaction by his courtesy and indus
try, and evident high character. an cyl-.
dence Of the contldercs felt In the Company,
We may state that large amount of stock
has BEN recently boughs BY parsons who arc
are dealing. As this Company promises 70
he the richt st Petroleum Company yet orsau-
cd, We will SIMPLY say, for the benefit Of the
public, that lis capital stock is 5000
thsIes, at ten dollars zach, or $5u0. 900. The
stock ls nov sold at $50, or vas when last I
knew, making the present valuation one aud
Q half millions. With an lnteres. In six flow-
Ing wells, In hundred wells not yct com-
plsted, and in over 100 acres on Pit Hole
Creek, what the u.use Of this Company will
be, can bt readily inferred By experienced
men, ODe hund. ed dollars share Is but i've
millions for all they poase:s.