The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1865-02-22
Petroleum..

Petroleum.
The cilregion correspondent Of the New
York Sun writes the following interesting
account of the Oil Creek and Cherry Rum
Wells:
Cherry rum, tributary of o Dorado -
Here the first wells were bored, and the
little strcamlet is to-day the acknowledged
Mecca Of petroleum seekers in this region.
1t may be presumed that land along tbs
creek IS valuable. An idea may be formed
OF the present prices from what an OIL
dealer told me few days ago. "When
the farmers along Cherry Run discovered
that their sterile soil was valuable said
he, "they put an extravigant price on it,
and every day since have doubled the fig.
ures." The high price of land, however,
has not deferred the shrewd spr culators
from obtaining the greater part of it, and
at the present time the farmers have little
else to do than to watch the up squirting
OF the oil and pocket the greenbacks that
they receive for the fat royalties which
they have invariably rescrved-one-third
one'fourth or one-eighth of the product, as
the case may be. From this city to the
mouth of Cherry run (along Oil Greek, J
there are four hundred and sixty wells
From the mouth of Cherry Run to the
last well, (also along the Oil Creek } there
are perhaps not less than fire hundred
'srore wells. The number of wells on
Cherry Run is estimated at about two hun,
dred, many of which are justly celebrated.
This will give some idea of the extent Of
oil operations along the two creeks men.
toned; but it should be remembered
that these figures relate only to wells actu-
ally in existence, and that hundreds more
arc in course Of construction. All along
these creeks new dcrricks are being erected,
steam engines are being pat into position,
the boring apparatus is being set up, and it
may safely be predicted that the number
Of wells will be doubled six months hence.
About two miles up OIL Greek is the Richey
well, owned by pittsburg stock company.
This well Is at the present time pumping
about one hundred barrels day. Anoth.
Sr well, near the Richly, is pumping about
seventy barrels a day. The first well of
particular note is known as the Coquette,
the sight OF which is worth journey from
Gotham. AS general thing, | am partial
to coquettes, but this one is so gushingly
interesting that I couldn't withhold my
admiration. The Coquette is flowing well,
and at present the Queen Of Petroia. lis
daily yield is said to be from six hundred
and fifty to seven hundred barrels, and
shows no signs of exhaustion The Co
quote has one Of the characteristics of the
Sclass which the name represents. A great
noise accompanies the flowing Of oil, and
the upward force is SO great that the petro-
leum break into spray at the oritice OF
the tube, and when the sun is shining up.
on this spra7 beautiful display of varieg
ated colors is seen. The tanks belonging
to this well cover half an acre of ground,
each hol ling in the neighborhood of one
thousand barrels of oil. Hundreds of men
are constantly employed in barreling the
product. handling it and hauling it away.
The Pit Hole flowing well is second only
to the Coquette in Importance, and has
only recently been struck This well is
at present the great sensation hereabouts,
resulting mainly from the fact that it is in
locality which, until thus demonstrated,
has not been regarded favorably among oil
men. Of course the great object of specu-
lators now Is to purchase land in the
neighborhood of the Pitt Hole well; and
the land owners seem to lie IN competition
to see who can name the highest price for
the land. This well is situated on the lit.
tie run of the same name 1t is owned by
the United States Petroleum Company If
New York, and is said to nearly equal the
Coquette in p oducton. There are Il few
other Il wing wells, but their yield is 50
small that they possess no special interest
There have been number of rcmarka able
flowing wells in this region, but they have
gradually become exhausted, and at the
present time are either pumping, or h we
been dry Thus the Empire well (whcse
performance has never been equalled) at
one time, it is said, flowed three thousand
barrels day the Philips well has flowed
two thousand barrels daily; the Sherman
well, fifteen hundred barrels; the n bic
well fifteen hundred the Maple Shade one
thousand the Coquette fifteen hundred
the Reed one thousand the Caldwell eight
hundred; the Jersey five hundred, and so
on through the list. Yet of all the famous
wells, the Coquetee and the Reed wells are
all that now attract much attention.
There are perhaps not less than lhous-
and wells on the Oil Greek and Cherry Run
alone, but it is a small portion Of the mum
Der that are what are here called paying
wells. That is, a majority of the wells get
no oil at all. OF the remainder, few
pump from twenty Ave to one hundred
barrels day, while the rest, on an average,
do little more than pay expenses. Yet
with all the vast number of non paying
wells, It's unquestonable that, considering
good, bad and indifferent wells in the az
grega'e, there probably never was a more
Profitable investment than that in the Pc
troleum interest along Oil Greek and Cher
ry Run. If only one well out of a hun.
drcd that are bored proves to be success
it more than pays the expenses of boring
the ninety. nine.