The Portland daily press., 1866-09-04

Is Dllss WIFI HuAureus, Tic newspaper Is NOT
the institution it is on the other side of the
boundary. Among those that come under my
observation is an occasional copy of the Alba
ny Argus and the Detroit Free Press, two as
opperhead sheets as the most admir-
ing friend of Andy johnson and the blatant
Union-lovers of the South could desire. find
by these papers-what I had learned to expect
that the only friends of the Union now, the
only ones to be depended on, are those gallant
gentlemen Of the South who took SO much
pains and spent so much effort to trample the
stars and stripes under foot, to spill the blood
of our Northern manhood, to blot out the Con-
stitution and the Union from the political vo-
cabulary or to render them obsolete,-together
with their warm Northern coadjutors-the
Copperheads of the loyal States. Having run
the governmental machine till they smashed
it, having inaugurated and prosecuted war
of dissolution because the power was taken
from them for their infdelity to principle, and
having continued that war till absolutely COM
PEELED to yield to superior force, they now
claim that they-the Democratic party-are
the only ones competent fitted by nature and
experience, to run the government and make
it prosperous, united and happy! Such is the
unblushing i1hpudence of the party whose
hacks and spawned nags recently held dumb
show in Philadelphia. The independent as
surance of such men is enough to make
brass andiron blush for very shame, but it
brings no,blush to their coppery visages.
But have been betrayed into train of re-
Election to which have been quite unaccus-
toned for the past six months, and will now
devote few words to matters of very different
character.
Several months since 1 had the misfortune,
by some remarks touching the oil interests of
Canada, to wake up quite swarm of indig-
nant writers who pronounced my statements
false and unreliable I felt willing to allow
time to settle the controverted points, and
think it has done so effectually. From that
time till the present the price of crude oil has
continued to decline, till it is no easy task to
realize four dollars per barrel at the tanks
That of high quality may bring trife more,
but the average quality produced here will
scarcely touch even that low figure. Whether
the price is to advance as the season progress
es is question that time alone can solve. The
truth is, the supply is in excess of the demand.
The capacity of all the refineries in the coun-
try is probably five hundred barrels per week
less than the aggregate production of the wells,
and the refiners know it. Of course they take
advantage of the fict, and will be able think,
to keep the price down till new reineries are
put in operation or an export demand is crea-
ted, neither of which can be done so as to af-
feet the market this year. @
The quantity of oil produced at this place
cannot be less than from 500 to 600 barrels per
day. The largest well is about forty barrels,
and the average of all the producing wells not
over seven or eight barrels. The cost of work
ing, Independent of wear of machinery, is
about five dollars daily.
While at Oil Springs few days since, where
are hundreds of wells, / saw not more than
half-dozen in operation, and was informed that
the largest well did not average over ten or
twelve barrels day ard that no well was
pumped by night. The production is less than
the demand for local refining. One of the
largest wells of Potroia sends all its oil to that
place-seven miles-its owners who operate
there, having a refinery of their own. The re-
fined article is sent to market by the way OF
Sarnia. which is seventeen miles distant, over
good plank road.
Of the production at Boutwell, know moth
ing. 1t is variously estimated at from three TO
four or five hundred barrels. My impression IS
that the latter figure is much too large, but
upon this point do not wish to be quoted as
authority. This do know; that many people
are coming here from Boutwell, to operate, and
secondhand engines are being brought here
6g % pdS ah agt Is sS%@eR now aeF @sa
hand tubing, pumps, ETC., and by so doing they
often make good bargains This fact does not
prove that business has gone up" with our
neighbors, as some would argue, but that it has
either been overdone or that many companies,
with weak knees OF q scanty treasury, are dis
pose to go into liquidation, and sell out their
effects to accomplish this result.
One of the great and perhaps besetting sins
of the oil regions is the propensity to over-rate
the product of the wells. Five barrel wells are
often rated at ten or fifteen, and hundred
barrel" well oftentimes will not be able to mark
ct twenty-five barrels daily. These overrates
are for effect abroad. They are published IN
the papers and gull the verdant ones at nome,
and thus feed the spirit of unhealthy specula-
ton; at least, can conceive of no other pur-
pose to be subserved by such mischievous mis-
representations. A well, the sound of whose
escape pipe can distinctly hear from my lodg-
ings, rated by its owners and in the papers OF
the village at from ten to twenty barrels, to my
personal knowledge has pumped twenty-five
days without filing tank of 100 barrels
Another well that was rated and published at
fifteen barrels, after two weeks effort could
not show two inches of oil upon the surface OF
the water in the tank. You will doubtless have
accounts very soon of a "big strike" here-a
flowing well reported at thousand barrels.
Yesterday, Sunday, teams and men were en-
ployed in putting up tanks, enough to hold
twelve or fifteen hundred barrels, and the
"agent" was positive that he had already tank
ed, since the evening previous, at least three
hundred and fifty barrels, and yet l have it from
three credible eye-witnesses, that the whole How
was contained in two tanks of not over three
hundred barrels capacity, and that from the
smallest the water was being let off in large
stream, while upon the largest the Oil was SO
thin that the in-fowing stream laid the surface
of the water bare over "a space two feet in diam
eter! When such SHOWS" so thin and trans
parent, often put the whole town into fever OF
excitement, you can judge what effect viii be
produced abroad by the published statement,
with all its exaggeration of fact and detail
But must close, and will do so by caution
ing your readers to receive all extravaganza
statements about 'big strikes" with many grains
of allowance, and not suffer themselves to be
humbugged out of their money by hopes OF
gain, the chances of realizing which are about
equal to the chances of being struck by light
ming. oFoh"lNA' {