Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1866-04-09
PETROLEUM.
OUR OIL LETTER.

: Excitement and Sensation the Orde
J OF OiId0m-The Large Fire ON Oi
Creek-TOtaI Loss $500, O,OOO-Ney
Strike on the AIIeghany-A 500 Bar
rel WeII-The Markets-Prfces on Ih,
Rise-Cause, de-, dc.
Especial Dispatch to the Cleveland LsGDER-1
RENO, Pa, April 5, 1866.
Real excitement and exciting sensation
belongs to oildom alone. When specnla-
tion in stocks and the formation of bogus
oil companies are dead, huge destructive
confagrations are alive in all their gran
deur and glory. A heavy oil producer,
while picking his way through mud and
mire, bush and bramble, with large pile
of filthy lacre" about his person, the
proceeds of several thousand barrels of
oil, which he is about to deposit in a neigh
boring town bank, is way-laid by one or
more rufians, knocked from his horse, his
money taken, and he left for dead; or,
when highway robbory or murder sem
satiOn does not lend excitement, the news
of new and "big strike" keeps up the
furore. For the past month, fires, (not
pigmy fires, but giants in their way, have
been of more than weekly occurrence
The largest fire that probably ever oc-
Cured in the oil country, broke out on
Saturday morning last, On the Egbert
Farm, Immediately below Petrole-
um Centre, on Oil Creek. In
the writer's telegram of Sunday last, he
estimated the loss at SI5O,OOO, but it will
reach nearly, if not quite, 100000. The
origin of the fire was occasioned by the
igniting of the gas, which is used for the |
engine at the Burlington well, where the |
fire was first discovered. The flames |
spread with fearful rspidity, licking up
with their forked tongues and devouring
every thing that came within reach. The |
tanks of the Burlington well burst in
and the stream of burning and
sealding liquid rushed madly from its
broken prison, towards the tanks of the
Coquette well. These tanks ignited in an
instant and burst moment after, which
added new fuel to the angry flames From
,he Coquette, the fire spread in all direc-
ions, and in less than one short hour, the
never satisfied and devouring element had
Iwept every thing before it over an area
If twenty-five acres. At the breaking out
If the fire, the wind blew in the direction
If Petroleum Centre, which place was
It enc time in great danger of destruction,
,ut, very fortunately, before the flames
lad made much headway in this direction
he wind shifted and drove them towards
N opposite point The residence of DR.. |
1gbert, nd-several houses adjacent with
he Maple Shade Oil Company's Office,
we're injured, the intense heat bleaching
nd scorching them severely. A number I
# boats, loading with oil at the time the
Ire broke out, were burned to the waters {
dge, with their contents. Among the
lumber was a boat which contained one >
undred barrels of oil, belonging to
lessrs. Clark, Payne 81 Co., of Cleveland.
he total loss will reach, as | have said be-
pre-, nearly 100000. The Maple Shade
Ill Company alone are losers to the
mount of $4,000. E8
A new strike has recently been made on $
be Allegheny, about five miles below
rankin. The well is located on the east
de of the river, opposite Foster Island,
nd was struck on Wednesday of last e
1eek. 1t is now producing five hundred
arrels of 45o gravity per day, and is by p
Ar the largest well on the Allegheny. A p
lumber of Franklin gentlemen are the
0rtunate owners.
The oil market during the past week
as had an upward tendency. The sud
en- rise is looked upon here to be of but
hort duration. The only buyers who
ave been on the market for the past two
r three days are those who were obliged
, purchase to fill contracts. The cause \
f this last rise is the improvement of a
European quotations combined with the c
.rge amount of crude destroyed by fire
nee February lst. Since the latter date
here have been about se5ezty-fUe thousand
arrels of oil burned, which not only
,ssens the stock on hand to that amount,
rt also lessons the daily yield very ma
,rially, until tanks, derricks, engine r
ouses, etc, are again in working order. D
he Egbert Farm, at the time of the fire, q
-as producing from six hundred to seven q
undred barrels per day. The total daily s
ielQ VIII II cOnseq ueHco Oo cut Ou budt | o
mount for two weeks or more. The u
light rise in foreign quotations will not r
arrsnt to-day's figures for crude, and as I
ION as the daily yield again reaches its s.
Iaximum number of barrels, prices must tt
rop trihe. s.
The Times of to-day quotes crudes as e
flows:
t Reno on Platform, S. O0@5 so
t housewife S0@4 10
etroleum Centre lat wells) 25@4 so Z
n Pithole lat wells) 00@4 p
Boatmen are charging the following b
ates: a
rom Rouseville to Reno, 45@ 55 9
" Petroleum Centre to Reno 90@l 90 7
0leopolis to Reno, 90
There is plenty Of water in the creek to
limit of boats loading heavily, and the
lleghany is at good height for steam
oating. For the past few days the river :
as been alive with steamers to and from
itt shurOh FACTS