The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-06-12

Especial Correspondence Cisvf1sad LHADEs
.+-r Oar on REe1oNs June 9 esq
Pithole properly is sdvshcihg aPidiyn
consequences of several new wells having
been struck, aud Of the incressein the yield
of thoseprsviously producing. The United
States Company well, upon the HOlmden
farm, has been yielding, since it was first
struck, about three hundred barrels per
dsy. This It has done elAboring under
the disadvantage Of having the sucker-rods
still omit Many prOphssied that if these
rods we're taken out the we'll would yield
five hundred and perhaps athoussnd bAr-
res. But the proprietOrs were sensible
enough to let well enough alone, at least
until The we'll had enabled the company to
paw handsome dividendsupon the stock, and
made this company one of the most noted
upon the iisI. The product Of this we'll
has carried the stock Of the company from
S. Der share TO $40, and although, under
/ the late depression of all stocks, it fell to
81 or s., it steadily rose again to over $40.
The well having done 30 much forts own
ers they at length decided to draw the
sucker-rods, and the result has been that
the Weld has risen 70 eight kindred barrels
per day, and the stock is held to-day by
parties here at $50. This is the largest
yield of any well now producing in the oil
country.
Another well q short distance south Of
the above-on the adjoining farm-belong-
ing TO Morehead and others, was struck a
short time sgo II commenced with seven.
~ fl 7e barrels per day, but has steadily in
creased until it is now doing sir hundred
barrels per day, according to report which
L consider reliable. The history ef this
man MorehesG's oil operations is 8 good IL
lustrstion of the ups and downs of the oil
businfs4. He came out here q year or so
ago with 8 little money which he put into
a lease on Oil Greek. He worked at that
until he sunk all he hsd put in; refused
several good offers for his chance, in the
hope of making q big thing, if he struck;
finally gave It up as q bad Job: came down
to frIt principles and went TO work for wa
ges ST his trade OF blaeksmithingi was in
dustrious and saving gathered together q
few hundred dollars, and with 1t bought a
few acres in Pithole, before the United
States well was struck; divided it up into
acre lots and sold leases st bonus enough
to pay ell expenses of putting down three
wells, and something over; superintendent
the wells himself, perfectly satisfied to be
greasy and dirty and in the woods, in the
hope of making q strike some time and
finally got this well down which now is
worth 8 fortune to him. He has earned it
and will enjoy it. It is upon the property
of the Boston Oil Well Company, spoken
of in q former letter, Morehesd being the
principal owner.
OF course there are hundreds and thou.
sands of men who Hlearn to labor and
to wsit" just as faithfully as he did, who
fail after sl to win the golden prize, but il
is the fact that, now and then, here and
there, one fortunate one does make 8
strike, that nerves sl the rest to toll on,
hoping that their turn will come next. Il
is costly, wesrisome business, this putting
your time and money Into q four inch hole
IN the ground, and the wonder is-nOt tha
so few but that so many do strike oil. Blu
If you are one of the lucky ones, then yoJ
can live on the Avenue and drive you
span OF bays for the rest Of your nsturs
ife. .. - rasu-iraaH
aIThe wells upon the Tarr Farm, which
have produced but little during the spring
are looking up. The old Philips well
which at one time was the wonder of tn,
country, but which has yielded nothing
stree last winter, is o producing on,
hundred barrels per day. Most Of tn
wells upon this farm have been or sr
being re-tubed and q great improvement
is expected 10 this famous territory. z
The Shipper well, upon Sugar Greek, i
y SRg S nm ,Ua4tft5 il PEI per 56iFyai ana IL
claimed that it pumped one hundred an,
ten barrels one day this week. .
During the month Of May, there wer
Al ,4S0 bsWels of oil received at Pittsburg.
! against 5T,4I1 during The same month G
1864. A lsrge part of this great fsllini
off is due to the freshet of last March
which stopped so many producing we'll
! many OF which are now nearly ready t
resume operations.
The price of crude oil In New York
higher noWthsn last year, considering tn
difference in the price of gold. 1t is MOI
about "a cents against A IN June of 1866
, The country needs rain sadly. Tn
streams are very low and the ground yer
|, dry Showers have been all around Us 70
days but we have hsdonl5 3 listle sprinkle
At the north and west of Us q thunde
storm Is in progress, as I write, and W
may be visited by it. Phe weather 6urln
this week has been oppressively warm
r .rgglarJ~si- CHIPS.