The Petroleum Centre daily record. [volume] (Petroleum Center, Pa.) 1868-1873, 1873-07-17


We give below the bslsuce Of the obser-
vations made by the editor Of the Peters
burg Progress on bis recent trip through the
lower oil region. His statement Of the COO
ditiou Of the oil towns In that section is
about a. fair Q one as We have had yet:
Miierstown presents all the hustle and
confusion incident upon new development.
The many recent strikes bringing 10 opers'
tors from oil parts Of the country. Being
90 old town, and having many advantages
In the way ofsolid, quiet substantial resi-
dents, II lie, to our mind the best Of all to-
lower oil towns. Hotels Of some magnitude
pleasant residences OF oil men who are sup
posed TO be some relation to old Croesus,
give quite Q healthy tone to the place, not
~withsIanding the turbulence and careless-
ness of many Of the more present arrivals.
Butler, although q very old town, has not
yet fully awakened to the Importance OF de-
velopment being made in her soap mines,
Notwithstanding the backwardness Of the
native population. A strong element OF the
stirring, busting, nervous oil men has given
an impetus to business which would have
been wholly unknown but for the discovery
of the great reservoir Of petroleum which
has made of the ''buckwheat country" quite
q respec table %neighbor.
Greece City which has proven 10 be the
end of the development. presents the ap-
pearance of an overgrown baby-it is pulled
up a great deal, but the solid elements are
entirely wanting. Here we found the
greatest excitement prevailing, men crszy
with coil on the brain," men crazy because
they hadn't any, and others because they
were going to try and get it. The people
are very rough, disturbances are frequent;
liquor 10 the common beverage. 1t has no
appearance of stability whatever, and al
ready it has began to feel the evil effects. OF
dry holes in ita vicinity.
Busna Vista, four miles from Greece
City, is just on the edge Of the belt, and
will probably be Of as much importance as
some Of the more notable towns already no
ticsd' Operating 10 being pushed forward
wit6i great energy, and II the wells now un-
der way should prove TO be successful, much
new Territory will be opened mp.
Summary.
Taken altogether We believe that the con.
| di.t6n OF the oil business was never 90 criti'
cal % q the present time. The almos
incredible number Of wells going down, th'
rush for leases; these have Q tendency L
keep the price Of oil where It It. The bust
ness 10 this, the third district has pssssc
through the ordeal, and by experience mel
have learned that TO devslope territory OF
credit is the worst and most utterly foolish
OF ali pla us; not only 10 this system mimi
cal the best, interests ~ofprodioers but to al
who are connected with the business, eithe
directly or indirectly. The lower oil dis
trlct being operated wholly upon this sys
TEN will pass virtually into the hands Of th
.hgrif. for the pressure 10 financial matter
which ct present exists, cannot be borne
The striking Of masy dry holes has alread
created q panic, and those who have becom
utterly disgusted, and the probabilities ar
they will become more 20 before the fret
September.