Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1865-07-21

q .
ing sensible view of the Oil trade and Oil
stacks:-The oil-stock business is still in its
transition state. The wonderful success
that many of the companies have attained
in the past, the remarkable swiftness with
which fortunes were made, by the lucky,
stimulated speculation to an extraordinary
extent In the beginning everything was
favorable, but too much speculation has
affected the whole oilpIoducing occupation,
and at the present time the petroleum inter-
est is fattened out Oil stocks are discour-
aged, and buyers are cautious Undonbt-
edly many of the moonshine corporations
which have been started will have to fail
They viii exhaust the means and patience
of their stockholders. The latter will resolve
TO pay no more money, considering what
they have already contributed as inevitably
lost Either a few men will get the manage
ment Of them, or they will be sold out, and
those who come in at the death will bag the
game And yet, with all these disadvantages
petroleum. per Sc will not suffer. 1t has be-
come an object of worth to commerce, and
the demand for it will be steady. If the
number of producers decrease, the value of
the productions increase. The companies
organized for the production of oil, which
have avoided the arts of the stock exchange
which have at all times paid attention TO the
development of their lands, and which have
been managed with patient industry, will
roap tho benefit. Their course -Svas~ etessr
from the first. 1T was TO attend to their
own business unmindful OF the turmoil
around them. They are now approaching
the time when it will be demonstrated th at
this policy win pay As the number of
1imsv companies fade out-as the chaff is
riddled from the grain-tbe old fashioned,
honestly conducted companies will rise IN
estimation They viii find their reward IN
coed prices for their oil and enhanced value
Tor their stocks Happy they who have ln-
terest In such concerns, for they will undoubt--
elIy receive the benefit oftheir patience and
perseverance,.
The general depression In all branches of
business has seriously effected the stock
market and oil stocks have been extremely
dull for some weeks past Indeed there are
very few sales of any stocks, and there will
be but few until the summer months are
passed But while stocks are dull IN specu-
lative channels, there never was such earnest,
gigantic and diversified development IN the
oil region as this summer. Despite. the Sc
verify Of the winter, which stopped all op-
erations preparatory to forng. and tie des-
trllctive March food, whfciI carried of half
the derricks on the oil streams, the york OF
GGVSiODll1 HIS DbCu pIosCGGASu VIII
| less energy. and must soon tell sensibly on
the value of all stocks which have any sub
stance In them. All the leading commercial
| Journals predict degree Of activity IN OIL
stocks this fall surprising anything we have
vet witnessed. They viii then be better un-
Iderstood-the worthless and bogus COM
panies viii be exposed and driven from the
market, and the good companies will gener-
| ally have tested the quality OF their lands.
The sooner the bogus companies are exploded
the better, as the public will then be able to
| invest with much more salty and the stock
| of reliable companies, which is now pros
trated with the bogus organizations because
accurate discrimination Is impossible, will
advance in value to a just standered. We
are glad to see the officers Of several swind-
| ling concerns in the courts now in Philadel-
phia and New York, and the more yigor-
| ously that work is pushed by defrauded stock
| holders. the sooner viii holders of good stocks
realize a Just value for them. All the indi-
cations point to the production ofyast guam
/ titles Of oil this summer and fall, and many
i stocks which now hang sluggishly ON the
! hands of owners viii attain vast value
/ There are over twenty wells in various
stages of progress on the Imperial property,
and four on the Sterling-all Of which must
be tested within sixty days, and some OF
them sooner AM 800 barrel well was struck
4 on Pit-hole quite near to the property OF the
Sheridan and Cherry Run property last
4 week, and chat stock is consequently held at
an advanced rate.