Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1866-04-11
4 Visit to the Little Beaver,
and island Run Oil Regions

Petroleum is no longer the great marvel Of
the world, and it is to be hoped will never
again exercise such unlimited sway as the
most seductive humbug Of the age. Yet
with all IFS a~llurements, shadows and bub-
bles, petroleum is a grand reality, an inesti-
bic source of national wealth, a vast resor-
voir of treasure not dreamed of a half gen
Grafton since. And although thousands
have been victimized by empty oil specula-
tions, and rascality has been practised in
connection with oil stocks and worthless ter
rifory, until it has made the subject almost
odious to the people, yet there is II great dea.
of substantial reality to the oil business. 1
has always been considered 8 hazardous bu
siness in the great oil regions of Pennsylva
MIA, Virginia and Canada. The chance for
u ''strike" was never higher than one in ten,
and more generally one in a hundred. We
visited, last week, the newly developed oil
region on the waters of Little Beaver and
Island Run, in Beaver County, Pa. The
centre of the developed territory is about
two miles above where the Little Beaver
empties into the Ohio River near a place
known as Smiths Ferry. Oil has been found
In limited quantities at the Ferry, and from
the mouth Of the creek upward wells are be-
ing drilled, at short distances, but the yield
does not seem 10 be remunerative until the
distance of about two miles up is reached.
where q small stream called Island Run,
empties into th4Llttle Beaver. This locali-
ty is at present the recognized centre of the
oil district. About eighty wells have been
put down the required ~dIstance-620 to 625
feet-and every well as yet is a flowing one,
their product varying. as we learn, from two
to fifteen barrels per day. The average yield
Is said to be ten barrels. The product is a
beautiful clear oil, the purest crude yet
found in such large quantities. 1t is so pure
and entirely free from sediment that it burns
quite as well as ordinary refined oils, just as
it comes from the wells. 1t promises to be
the cheapest burning fluid yet discovered.
The great Distinguishing feature of this oil
region is the fact the wells are uniformly a
success, there being no such thing as a 'dry
hole among the so wells that nave been
put down. We state the truth, wonderful as it
may seem, when we assert, that in the esti-
nation of the oil men Of the Little Beaver
region, there is no such word as fall
They as much expect to be rewarded with a
flowing well, when they commence drilling,
SIS they expect 10 see the sun rise, and would
not give an insurance company one per cent.
OF their investment to insure them a 'strike."
The oil business being therefore Invested of
its most Objectionable feature-thst of being
a mere hazard, is In this locality being car
ried forward with less excitement than would
naturally be expected, and is regarded quite
as legitimate as any other business. The
unfsiling success that has attended the eff
forts 0 fthese who have sunk wells thus far
has given a degree of confidence in regard to
the value of land as oil territory, that enables
owners to dispose of it at fabulous prices.
Land in the vicinity of the Sherman and
Greenback wells, sells at $4,000 to $4,000
per acre, and scarce at that. One of our par
~ was told he could get a lot so \ go feet,
which was set up On its edge, for 5000
Acres had been cut up and sold at that rate.
Such investments appeared wild to us, but
there are people, it is said, who can figure"
large profits out Of them. Where prices will
run TO it IS difficult 10 imagine. Evidently
the culminati ng point has not been reached,
for the reason that the fever Is juss Begin
ing to set in, and by the middle of next sum-
mer there will be ;. kiting times" The sue
ceeding fall will probably see a good many
pc5rer but wiser men.