The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-06-24
From THE OIL REGIONS.
IaS View Well upon Sugar Creek
MeadViiIe RcWs-Df tinEUished Visi-
fOrs-News-BusinesS of the A, IL s..
W. HALLWAY.

Special Correspondence Of the Cleveland LEkDERl
FRANKLIN Pa, June 81.
The striking of the new well upon Pit
hole on Saturday last, of which fact you
were notified, has given the excitement re-
gsrding Pithole property, already very
high, q new impetus, and the call for ter
ritory and leases in that section reminds
one Of the furious greed of last winter. The
new well belongs to the United States
Petroleum Company, already rich from
the proceeds of the Holmden well. Their
stock has advanced accordingly.
a few weeks ago there was hardly a
shsnty in the vicinity of these wells-nOw
there is 3 regular street, with houses, shops
and stores, while g lot of n tents
shelter those for whom carpenters are too
few and slow. It is proposed to stat q town
there and call it PiEhoIe City. Three
months hence if you should go there
you will probably find half a dozen hotels
as many land offices, a machine shop and
ten to one there will be located one of the
branches of the National Bank system
which Mr.. Culver has introduced so extern
sively into this region.
On the morning of the last strikc-sat-
urday-nearly all of the buyers and ship
pers Of Gil at Franklin and Oil City start
ed out to purchase, thinking now was the
accepted time. Tbs opening of this new
vein gave the msrket 8 temporary lull, but
It will soon revive.
From Sugar Creek We hear that tho
Junction Company sre pumping about
twenty barrels per day, from their well
shortly below the Shipper Well. The
managers of this we'll deserve commenda-
ton anG SUCCESS. Foi six weeks they have
pumped salt water and nothing else.
Each day and each week looked just like
ihe last, but Mr.. Baker the Superintendent
determined to give it such a trial that it
should not be said that he had abandoned
it without cause.- At last his reward
has come. For a twenty barrel
well of good lubIicatiDg oil, worth
$25 per barrel, is not to be despised.
1t is about an equivalent Of a one hundred
barrel well Of light oil. Then it must be
remembered that the revenue tax upon
crude oil is 81 per barrel, and it makes q
vast difflroIce t. the producer whether
that barrel Of oil, with tax included, wiki
bring him six dollars or twenty-five. In
tho one case be pays a tax of sixteen per
cent. and over in tho other only four per
cent. Then again, the difference in ths
cost of barrels is immense. One barrel
costing 50 10 81 will hold as much lubrica-
ting oil in value as four or five, costing $I2
to $50 will of the lighter qualities. These
are advantages which oil men appreciate,
and these facts make q lubricatiDg oil
well a rich placer TO the fortunate owners.
The Shipper well is still gaining, and
the owners Of that well-the Sugar Greek
Oil Company-haVe nearly a dozen new
wells going down upon their large prop
erty.
Happened to be at Meadville LIST even
ing when General Burnside was ~sereDGded
st the hcEenry House. The General ar
rived st I've o'clock, and the fact that he
was 10 town, was soon noised about the
place. A company Of Pennsylvania troops
who had gone into the war three years ago,
under Captain d. V. DerricksoD, (now Pro-
vost Marshal Of this DISTRICT, and who
had been detailed TO escort duty to PresI-
dent Lincoln, TO ard from his daily rides
between the White House al 1 the Soldiers
Home, had returned home yesterday, and
brought with them the fine band which
he'd been attached TO them at Washington.
This band was brought into service TO sere-
made the distinguished General. After a
couple Of tunes General Burnside appeared
on the balcony and spoke a few words ex-
pressive of his pleasure 20 be able 10 con-
gratulate the soldiers who had returned
home, that their part in the restoration of
tho authority of the Government was done
end nvLly dOno- AO Was E,jPiCod 10 DO
able himself TO return to civil life, and
could appreciate the pleasure with which
the veteran returns to his home. He made
no s'lusion to any O. tho prominent politi-
cal topics, and the creWd was q Ii tie dis
appointed at not hearing a speech from
him, but cheered Justify during his short
sppearance.
Beside General Burnside, the NcHenry
has several prominent guests. Mr.. T. W.
Kennard, the we'll known Engineering
chief Of the Atlantic and Great Western, is
at MeGdville, having Just returned from
England. He ia accompanied by his
brether and Several other Eneljshmen of
note. Mr.. John Young has been in this
country 70. several weeks, examining thor
oughly the condition Of tie Atlantic and
Great Wehtefn and its accounts, for the
purpose of reporting to Mt. McHenry and
the other foreign directors and bond-hold-
ers. II Teturbs to England next week.
A change has recently taken place in the
news agency on the line Of the Atlantic &
Great Western. Mr.. X. n. Townsend is
succeeded by the "Atlantic News Com
psny," composed of Measrs. Joseph Msth-
ew5, Q. W. Bradley and E. p. McElroy.
These gentlemen are ali well qualified 10
conduct this department in q manner salts
factory to the public and profitable to them
selves. Mr.. Mathews aid MIR. BradIeya are
well known to railroad men and 10 those
having business with the A. Il G. w. in
their connection with the executive man
agement of the road. Mr.. MeElroy will
have the business superintendencY Of the
new company, aud viii, 1 have no doubt,
give entire satisfaction. lie was formerly
from Boston, and has lately boen connected
with the a. q a.. Va having been Cashier
OF the hcHenry House for the few months
last past. He is a young maj of education,
Of fine social qualities and of excellent
business qualifications, and will make many
friends in his new field. AL these gentle
men deserve success.
Mr.. Townsend, who has had this depart.
ment Of the road under his charge, has con-
Quoted it admirably, and 1 hope has msdo
it pay handsomely for himself. He came
to Mesdyille something over two years ago
and has built up a large news business by
his industry and energy. During the
exciting war times "TOwnsend'sn has been
the scene Of q rush and scramble for pre-
cedence as soon as the train had brought
his big bundle of LEADERS. Success TO
him heneeforth and forever. CHIrs.
~---svu OuUNVs.
a writer in the Musical Pioneer takes
exception to the practice in fashionable
circles, OF the members of the choir lesY.