New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-15
a INEW OIL DISTRICT.

DEVELOPMENT OF WELLS II M'KEAN COUNTY, PENN.
AND CArrAaAUGUs COUNTY, n. Y.-FEATUREs
OF THE BUsINEss-NEw ARRIVALS.
iFRoM AN OCCASIONAL CORRESPONDENT OF THE TRIBUSE.l
KENDALL GREER Mexican Co., Penn, Feb. 8.
The and prospects Of the Mexican and Cattar
angus ewYOro oil districts seems to be little known 10
the outside world. II a fact that the most promising
oil field now developed lies far enough north Of tine Old
Pennsylvania oil region 10 be largely in NowYOrk State,
and far enough bring within 10 hours ride OF
New-York 1.-The Northern Belt" as tits called crosses
Railroad between Olean and Carrolton CatIar
angus Co.. N. Y and has thus far been tested south
easterly thererom in Mexican County Penn, about 10
miles How much further north and south IL extends,
and to what width it spreads, not yet known There
are about 400 wells completed producing 1000 barrels
Der day This whole business has grown up III aDOn IL
months, though there small wells sui producing
here that we're drilled IL years ago. The same causes
that led TO its being ignored so long after oil
was discovered partly account for it's still at
tracing 80 little attention as compared with
other oil fields Of far richness Its geological feat
re are anomalous and against all the experience Of oil
men as Trustworthy indications. and its business aspects
are removed from the speculative and exciting Inc
leading features of all th field are: a. Permanently;
has wells that have been producing 10 or IL years
o. Equality of profits there are no large wells rpuB
70 drain the supply and stimulate an excited and multi
tudnous rush for what oil there 49, and there are almost
no failures One can count on his fingers all tine dry
holes" in this district and include the experimental OF
"wild cat wells at that This distributes the profits
very evenly among operators (3) heducuoh Vi IiSAS'
If no one gets rich suddenly fails 10 make some
thing of profit An insurance company could ahoru 10
Guarantee against loss by drilling for per cent
a. Cheapness Of producing the wells are OF that Pc
culiar nature that they produce oil if pumped only
TWO or three hours per day Four SIX wells can TINS DC
operated for tho expense OF pumping Que III o,HeI IT,
gions where wells have 10 be pumped nlght dii uS.
" No
nearer to legitimate industry Win cacuiaDie ana Ger
tain costs and RISKS and is fnr,her removed ron ~ %
la fact, there Is less >a mere III uIli.s Io o
than in merchandise manufactures even IN farming
for there crop that does not fail o!.cner tan once
40 years, and that is the pToport'' OF laiuIes III
has as yet made only little nOtOr1ety ana mas Deeh
marked 10y quiet home However, me - ihptOhis Oh
regular oil fever begun 10 show themselves OF ate
Until few weeks ago the known OH ncld was pretty
ne rly limited The valley OF Idnaulgulht OICtA,
and AS ali tie territory and adjacent 10 the valley was
early taken ND in large leases and held for gradual
operation, there only little To Duld business on
But the striking of wcl on an entirely new line tlgnt
miles northeast of here weeks ago. and the STRIKING
OF another Saturday last three nie" our on Ihe saint
line. demonstrated That immense undeVeio"d OF,
tracts are yet here This has given great impetus to OIL
excitement in all directions. Every DAY there IL an IN
crease the number OF new races 10 De seen an
OF travel htherwad OF those VINO WISH 10 take qeI
look at OF the new chances. -, ,,.
Business has been very much retarded 10y me ach vi
facilities ana egregious bad management OF the only All
road that pierces the -Onthe Bradford BilIcn O me
Erie Railway. The indifference OF the managers q Tue
road IN ttr Shameful condition of its business is how
ever having it's legitimate result viz, forcing comlet
tbs region to OIean ON tie b. N Y and p K. r., Of
tire railroads That have proved suc cheap
and efficient remedies Tor similar ABUSES al we @
ana Butter districts. Another thlng that actS pfeJu
dciay to tho interests OF Operators mere 10 e IAN ~
facilities for getting Their OH moved ana hece le "'
of tree and open market The due space OF ths etttf
however does not warrant entering INTO lal subject
to this OH LiuOfd.io bab
only 10 night train the Ere road AT Jersey
City ana get of at Carroton whence MS fonte s ~ ne
branch directly south to the present center Oh the
Tuna Valley oil region.