Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-10-16
DAILY LEADER.
PUBLISHED
DAILY, TRl-WEEELT AND WEEKLY, q
BY THE 81 -
CLEVELAND LEADER COMPANY.
MONDAY, OCTOBER i6, 1865.



The projected excursion to and through
the Oil Regions which has been planned
by some of the prominent business men of
that important section, and which will be
carried into execution during the present
week. will be one of the most extensive
and influential ti1at has ever been. designed
even in these days of great enterprises.
II is too late in the day to characterize the
oil business as a 'humbug," while, at the
same time, we are warned by the history
of the past year against going into it en-
baasse in the expectation that every dabbler
in oil territory or stocks is to straightway
emerge a millionaire. a business that
pays a yearly revenue to the Government
of two millions of dollars is no humbug,
neither is it a business to be mastered at
once by those who have given it no pre-
vious thought or experience. The gentle
men whose names are affixed to the invi-
tations to their excursion are those who
have gone to the oil regions, not as specu-
lators but as business men; who have APP
piled the same practical common sense and
financial shrewdness tie the development
of Venango and Crawford counties in
Pennsylvania that they would to the open
ing of a new coal region or to the build
ing up of trade in any city. With a view
to disabusing the minds of the leaders of
the commercial and newspaper world of
any erroneous opinions they may have
held in regard to the petroleum interests,
they have invited this party of intelligent
and @reliable gentlemen to go and exam
inc the oil country, and see for themselves
its advantages and disadvantages and the
opportunity it offers for further develop
ment.
All of this committee of invitation are
gentlemen who have been successful in
their business connections with the oil re-
gions, and who possess the respect and
confidence of the residents and operators
thereabouts. Mr.. Briggs is a young Cleve-
lander, who by energy and shrewdness has
made himself one of the leading business
men of T~itusville. Mr.. Douglass, as Presi-
dent of the Bank of Crawford County, is
among the leading men Of Meadville.
Mr.. Wadsworth is one of the most promi-
nent and active citizens of the thriving
young town of Plumer, upon Cherry Run.
Mr.. Vandergrift of Oil City, is known by
all who have watched the growth
Of that outlet of Oil Creek, having
been identified from an early period with
its history. OF the remaining member of
the Committee, Hon. C. V. Culver, of
Franklin, much might be said, but we
limit IL story to a few words. Coming
at an early day to the oil regions, and ap-
plying himself diligently and shrewdly
to the financial interests of that section, he
finds himself at thirty-fve years of age at
the head of not less than a dozen banks,
every mt of which enjoys the entire con-
fdence of its community, these banks be-
ing located at New York, Philadelphia,
Pittsburgh, Meadville, Franklin, Oil City
Titusville, Cory, Erie and Petroleum
Centre. Mr.. Culver will also take his seat
in the National House of Representatives
in December next, having been chosen to
represent the 10th district of Pennsylvania,
embracing Venango, Crawford, Clarion
and Butler Counties. A list of the amount
of capital and deposits Of the private bank
ers Of New York, published in the Herald
Of that city, shows that the house of Gull
Yer, Penn, & Co., was exceeded in the
amount of Fits deposits for the year ending
June 3Oth, by but one banking firm, that
being the noted one of Ketchum, Son &
Co.
The personal facts given above speak
for themselves of the character of the men
who are prime movers in the excursion
enterprise, and show that it is designed
for no purposes of personal ~aggrandize-
ment or local advantage, but solely for
the information of the public at large and
the ultimate benefit of the whole oil coun-
try, by making it better understood and
mora thoroughly known.
Bearing these things in view, we look
for many beneficial results from the pro
posed excursion, and hope to see it gener-
ally attended by the business men who
have been invited.
|