Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1865-08-18

nCh. 4uC COulpdlly own one SlXCn OF all the
oil of the producing wells and those to be
bored, and is now receiving dividends that
pay on the capital stock from the time it is
taken. The company also own an oil refine
~ in Plumer, Venango county, and the un-
divided half Of los acres on Pithole within
one mile of the United States well, also,
three-eighths of another tract of 90 acres on
Pithole, all ofwhich is to be developed i'm
mediately. This presents a rare chance for
investments. Prospectus can be seen and
shares had by calling at this Office, or at the
Banking House of Rupp, Shannon & Co.
The oil business is rapidly reyiying, and
bids fair soon to equal, if not surpass in ac-
tivity, the palmiest days of the past.
The Oil Greek and Gordon's Run Petro-
leum Company, in which many of our citi-
zens are interested, has two wells already
down, which though not yet tubed are flow
ing oil and water and giving every evidence
ef beips good wells. A fsr days rill suffice
to tube aud test them. The President, Di-
rectors and Superintendent, deserve great
credit for the energy and promptness they
have displayed in developing their terri
tory.
PlT HoLE.-There are now nine wells on
Pit Hole, yielding in the aggregate three
Thousand barrels of oiIpertwenty- four hours.
These nine wells are known here as follows:
United States, two Twin wells; Nos. II, 62,
63 and 10, Boston and Island wells.
Nos. SO, 60 and 66, all owned by PittsburQ-
ers, will no doubt be ready for tubing this
week, and all give promise of turning out
we'll
No. 10 Immediately took fire upon being
struck, inJuring several men badley, but the
flow OF oil was not retarded, and she has
since yielded from three to four hundred
barrels per day.
During the next thirty days there will be
at least eight more wells on Pit Hole ready
for testing, and if they all prove as success
| full as those already finished this section of
country can then claim to outstrip and sur
pass anything yet discovered in the way of
oil territory. Several Pittsburgh oil COM
| panles are operating IN this rich neigborhood,
and all give evident prospect of good success
Among them are the Cherry Run and Pit
Hole and Central Basin. The former, have
one well located ON their thirty-fve acres on
| Pit Hole creek, down two hundred and fifty
feet, and find exactly the same kind of rock,
ETC., found in the United States wells, and
| Judging from the depth already bored, they
are almost sure to strike oil at the same
depth as the others.
If they should succeed, the stock of the
| company viii be well worth holding, as their
capital is only $500 600, and it requires but
small quantity Of oil to pay good dividend
on this amount of capital They are ener-
getically at work and this well will be COM
| pleted by the first of September They
| also have an interest in another, further
| down towards the mouth of Pithole, which
is also pushed vigorously. @
CHERRY RUN.--A thirty barrel well was
struck on Cherry Run, four miles above
Plummer, on the 9th ult
OIL CREEK. Housewife Company
lhf lhafTa adePe ##XeR XR faT6rsbS fSR 5h eRescaihsa RsaihaR3
Basin, Housewife and other leading stocks
The Housewife Oil Company was organized
about eight months ago. Some of the cor
porators are A. G. Cattel, ESQ.,, President
of the corn Exchange National Bank, Phila-
delphia, John Allender, Esq, of Philadel-
| phla, for long time well known merchant
of Pittsburgh; David Vanderveer and Ed
ward Bacon, of Philadelphia, with S. G.
Brown, of Oil Greek, VIM. Mckee. A. G..
Graf, w. ID. Cushman, Chorpenning and
Lyday, and others of this city.
The Housewife Company purchased from
| the Oli Basin, Petroleum and others, all the
undeveloped territory on the A. Buchanan
farm, paying large sum of money, and a
royalty of all the oil found to said companies.
There were between seyenty-five and one
hundred choice leases conveyed to the Rouse
vile Company, They have working capi-
tai of $50, 600 in cash, aud a reserve of 20.
600 shares of stock The capital stock of
this company is 5000, 600. divided into one
hundred and twenty thousand shares of FIVE
dollars each. They are developing COM
pany, and have the following wells in pro-
cess of boring and prodncing
Well No. | on lease 81, one hundred and
eighty feet deep, completed, and pumping
one hundred barrels per day.
No. 2 on lease 7S, five hundred and sixty
five feet deep, nearly completed.
No. 3 on lease IA, five hundred and sixty
four feet deep, tubing to test.
No. on lease 80, FIVE hundred and forty
three, feet deep, pumping from ten to twelve
barrels per day.
Nos. 5, 6, and are down between three
and four hundred feet deep. These adioin
the leases ON which are located the Sucker
state, and Main, and Horn wells, and each
flowing from Que hundred to one hundred
and twenty five barrels per day. Nos. 5,
8 and can scarcely missin that rich locality.
CLARION On MATTERS. We have prom
ising reports from the Clarion county oil
regions. The Porter Farm well, one mile
from Clarion borough, is down to depth
of 300 feet. AT that depth strong vein of
gas was struck which threw the water over
the derrick. There is d very strong show of
OIL The Pocahontas well is being bored to
depth of 900 feet 1t is now down to a
sandrock, below which it is anticipated
good vein of oil win be reached There are
two wells at the mouth of Piney. The up
per well is down 5Ss feet, and the lower well
266. There is good show at both, and Mr..
Genth is confident of striking plenty of uil
inside of 600 feet. Blyson's Run well is
yielding good supply of oil. The opera
tions on Little Toby are very extensive, and
soon expect to hear good reports from that
vicinity The Witchell well is now yielding
ten barrels per day of very fine oil. The
Clarion (new well) ten barrels per day Of
dark oil of superior quality. When the wa
ter is exhausted this well will do great
deal better, as there are two veins shut off
by the force of the water above them.