The Petroleum Centre daily record. [volume] (Petroleum Center, Pa.) 1868-1873, 1873-10-13
PLAYING OUT.

We And the following very sensible sr'
ticle on the situation 10 the lower oil field,
10 the Petersburg Progress The Progress has
the correct view Of the state OF the oil trade
there sbouts and We commend It to the PERI
usal Of our oil men:
The remarkable reaction which has taken
place ln the Modoc district is subject OF
tAeotmost imp ortsnce to producers. The
dwindling down Of the great flowing wells
TO merely paying production within two
or three days, has bad most beneficial .ef-
feet upon the market, aud has advanced Of
from 80 cents On the cars TO $l.l0. It ap.
pears that the Modoc district is being food/
ed by the salt water, which, gaining access
to the porous rock, completely kills all
flowing, and greatly reduces all pumping
wells. Il is fortunate that this has oc/
CURED, and We only hope that it will not
end With Modoc, but will extend over the
entire lower oil field. Operators there need
lesson. They are in fair way 10 get it.
The approximations expressed by opera/
tors below have musical tinkle for less
fortunate friends IN less productive distr lots
II 10 greatly to be regretted that cash
business has not been done BY those who
have supplied the producers 10 the Greece
City field with machinery, tubing, &C., &C.,
for they will most cestai inIy prove to be the
most heaviest losers. The whole region is
swArming with dead beats who get what
credit they chose simply BY persona,ing
honest men. Bill Poker goes 10 40 engine
ag't says, III am member Of the firm Hogg
Sneak & Co., want two engins, ninety
d'ys-smple ecurities-wealthy firm-rei
sources unhoundsd capital enough to drill
twenty wells at $1,000 dry hole" So be
gets his sugines. The remaining tools ma
chiuery, &C., be gets 10 q similar manner,
when two 10 ooe he begged the tobacco be
carries 10 bis cheek, and got credit for bis
store clothes. We have seen ell this In our
own district, and We know just how euch
chsrscters operate, but, happily we are
i'd Of the great herd Of rascals.who make
u common practice to fleece their creditors
and business has settled into . legitimate
channel just 90 soon % people. every
class Of business men, come down 10 Q
strictly cash business and nothing else;
then We may begin 10 talk of bsiter times
OF local financial system which will not be
subject to every wind tnat blows It would
naturally be supposed that men would 10
wiling to learn something after witnessing
the disssters produced by the rottou credit
system of the New York banks, dozsus OF
which, although rotten to the core, were
yet 10 s6ourishiug condition when conn
pared with the p ioducers 10 the Butler dis/
trict Men suppose that because they cell
40 immense amount Of goods they are maxi
Ing money; so they would II they could get
all that 10 due them, but just here is where
tho difficulty lies; they ind 1t impossible to
do this, even when driven to the wall, and
the result Is that the Sheriff has bis bsnds
full. The records Of Butler county show
snch an astonishing array Of executions is/
sued against operators, that one can scsrce<
ly credit bis seases. Between twelve and
fifteen hundred executions issued 10 six
mooths! The only thing remark able, 10
that they are at ali able to operate, under
such financial pressure. 1t is only be-,
cause where one goose goes out, three asses
walk 10.