Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-10-23
THE OIL EXCURSION.
Its Continuance and Completion.
The Rene Oil Company.
Mr.. GuIVerS Plan for Organic
ing II,
Especial Correspondence of the Cleveland LEADER

MEGDyILLE, Pa, October 10, 1865.
1 told you of the general course of the
excursion party from Shaffer to Pithole,
but many deviations we're of course made
by individuals or parties to examine
noted wells or localities. As the process
sion of horsemen passed by the site of the
old Noble, Empire and other wells, those
who had heard of these wonders in days
gone by turned aside to look upon the
holes once so prolific of riches and the
lands once saturated with the greasy
wealth. Upon leaving Petroleum Center
the route lay past the shaft being sunk
upon the Dalzell farm, where an aperture
twenty feet by seventeen is being put
down by ome parties, who, if they sue
coed in their aim of determining the
strata and the formation of the oil crew
ices in the rocks below, will deserve the
thanks of those whohave been specializing
upon the oil formation for years.
Upon Wednesda yevening, after the cen
clusiou of the regular supper to the excur-
sionists it was announced that Messrs.
Pratt and Summer, of the Rocker farm, in
vited the gentlemen to a wine supper
later in the evening. Accordingly a per
ton of the tourists assembled at ten
o'clock and passed several hours in social
intercourse. Mr.. Sumner presided, and
numerous brief speeches were made
Colonel Jacobs, of the Indianapolis Jour-
adI, deserves a monument, on the part Of
the press, for the eloquent manner in
which he responded to the time-houored
toast of 'SThe Press" In a response OF
the part of Cleveland, Mr.. Benedict stated
that the refining business of Cleveland
paid nearlytwo millions yearly in revenue
tax to the Government. Allusions to the
protector of the excursion, by some of the
speakers, and the toast by the Chairman
to 'Hon. C. Y. Culver, u honorable and
capital representative in Congress, were
enthusiastically %applauded. Mr.. Culver
being absent, Mr.. L. H. Culver, of New
York, respondedin his stead.
The party having been comfortably
quartered for the night were called up at
an early hour and obeyed the order ito
horse" with becoming promptness. The
rain had fallen almost uninterruptedly
during the night and the mental contem-
plation of the fourteen miles to be travel
ed was not encouraging. Still each mem
Der of the company looked upon the un-
favorable weather as one of the ordinary
incidents of a trip through the oil region,
and were prepared to rough it with
cheerful good humor. Passing through
Pithole City and observing the p~eculiari-
ties of this city, which has yet to celebrate
its first half-yearly birthday, the head of
column wound up the hill toward Plumer.
Passing then through the grounds of the
Humboldt Refining Works, we threaded
our way down Cherry Run to Housewife,
taking in the way the portion of
the Cherry Run railroad grading that was
built last year. From Housewife to Oil
City, through seas of mud, the cavalcade
filed its way and, having passed through
this busy, muddy, dirty, driving, specula-
tive place, we had only two miles of good
road to travel before reaching the outskirts
of the new town of Reno. Here, in place
of muddy and rocky ruts, was a hard,
firm, graveled street equal to St. Clair
road in Cleveland; in place of temporary
structures erected for temporary purposes,
were substantial buildings, evidently de-
signed for permanent occupation. AT the
hotel was a generous lunch of hot coffee,
sandwiches, etc, which was psrtaken of
with an avidity which spoke well of both
the appetising influence of horseback rid
ing and the excellence of the cooking
which had prepared the meal.
Parties of horsemen and footmen then
proceeded to examine the location of the
and the land of the Reno Oil Com
pany, both of which it is proposed to de-
velop at this point. The oil territory
upon Shaffer Run, the extensive facilities
for handling and shipping oil, the railroad
buildings in process of construction, the
printing Office of the forthcoming Reno
Times, and the advantageous location of
the business and dwelling lots, were all
examined with interest, and the company
then assembled at the hotel to hear a few
remarks from Mr.. Culver regarding the
proposed development of the property
here. First quoting from an able writer
the statement that the average yield of all
the wells in operation is over twenty-seYen
barrels per day, and stating that thus far
not one single well upon this property had
to be a paying one, although the
general average of producing wells to the
number put down is but n in four or
i've, Mr.. Culver showed the probability
md reasonable certainty of obtaining
paying wells, if a sufficient num-
Der were put down to Thoroughly test the
erritory. There are upon the property
three miles of ravine, affording am
Die room for one thousand wells. If half
his number is put down, and one in five
instead of one in four produces, they
would have one hundred producing wells,
which, at an average of only ten
per day, would give a production
# ole thousand barrels per day, or 3OO,-
100 barrels a year, allowing only three
hundred producing days. The lowest
Price oil at this point has ever reached
Turing the past three years, was six dol
ars per barrel. Taking this extreme low
ate as a basis, the incomes from the oil
would be Sl,sOO,OOO per year. OF this
mount, let the following allowances be
made:
lOlal ,cOu,oOO
genl management, say. $4,000
Working capital-.-m--.-.-....... 100000
tax Isl per bbl)-.--..- 100000
)ther taxes.,.....---........... 100000 $780, 600