The daily gazette., 1879-07-24
FIRST 4 EDITION.
Aune.g the Oh Wells.
pRoDIdAL WASTE or NATURES
ia. .-..4i. sBOUNTY. ist4

the great volume Of oil that Is daily |
brought to the surface. In consequence,
the tanks at many OF the wells are full
aud overlooking, and the great illumina-
tor of the world. 10, running down the |
hillsidss aud through the valleys Of Nc
Kean county to waste, at the rate Of
from 1900 70 5000 barrels per day. Al
the present tune the United and Tide
water Pipe Oompanie. have about 3,OOO,
600 barrels capacity Of iron Iankage IN
this district attached to thir il"es, ana
it Is claimed that this Is almo t entirely
occupied. Iron tankage connected with
the pipe lines Is owned largely by indivi-
dusis and oil-producing companies. or
courye, 10 the extent Of their tarkage,
the pipe companies take care OF oil be-
longing to the 'ownes Of these tanks.
The producers who are tossing oil are
generally the smaller ones who cannot
afford to build tankage., The general
storage capacity of the pipe companies
Is prOpOrtiOped out TO the latter. produ-
GERS. But as air ady stated these tanks
are about full% Ii now becomes neces-
sary for producers to do something efiec-
tive to check production. .rtE1+
KNoRMous PRODUCTION. -
At the present time there are 1000
wells IN the Bradford district, producing
daily lO,O0O barrels of crude oil. For
several months past there has been over
800 new, wells finished tmonllly. Dur
ing July and August, however, the num-
Der will not be 80 large. With his tanks
running over aud NO sale for hisproduct,
the smaller producer finds himself with
out the wherewithal to drill new wells.
Some OF the producing firms, with large
capital stock and ample tankage capacity
are not disconcerted by the low price Of
oil or the crowded condition Of the pipe
lines. They continue drilling, securing
additional territory and make money
with oil at seventy cents per barrel. One
firm that is operating quite extensively
made careful reckoning few months
ago and find that with the product a. ST.
barrel they have paid the total expense
0f drilling and fitting up well complete
in ninety days. An idea of the present
depressed state OF business may be form
cd from Z couple Of statements OF dealers
| in oil-weil supplies. One dealer told
YOUR correspondent that until within
he past thirty days he did business Of
from $3.50 to $4,000 daily. In the
| month OF July thus far his receipts have
averaged abeut 600 per diem. uo',..i !
| On Saturday last an, agent for one Of
the best boilers and engines said be had
not made q sale, for ten days, whereas
previously be considered business dull II
lie did not dispose of ten boilers in one
wesk., Not long since one Of the ae-
countants Of j. A. Bo swick d d Co.'s
purchasing agency (buyers forthe Stand
ard Oil Company, told the writer that
they had paid out an average Of S1O0,OOO
q week TO producers OF oil in the Brad
ford district. 4 You can imagine how
such q sum of money, from one firm
alone, put In circulation weekly will
help to stimulate trade. Recently BOst-
wick has been purchasing but limited
amounts of oil, being unable to store and
ship It Is rapidly ias offered for eale. 10
"rHE LOWER OIL COUNTRY"
A person unacquainted with the bust
lness of producing Oil would naturally
4 think that such gloomy state Of affairs
would almost entirely check further
Developments But, with the producing
firms and wealthy operators, 1t Is just
the contrary. sln what Is denominatet
the GLOVER oil country" Butler, Arm
strong and Clarion counties, there arr
not a dozen new wells drilling. The
cost of producing oil Is greater there
than in the Bradford or northern district
The ..lower Oh country" all wells ar
lpumped, incurring an expense for fue
and two men TO manage the machinery
one for night and the other for day
Wells in the Bradford region. do not re
quire pumping. 8 There is q force Of ga
sufficient to cause them to flow for years
In this very material point the Bradfort
producers have great advantage owe
their southern brethren and can produc
oil profitably 1t one dollar, while lowe
county operators can barely pay expense
at those figures. This true, one can i'm
aeine the distress then with oil at seven
ty cents. Another advantage of til
Bradford field is that the daily yield @
the wells is much larger than in tn
lower district. When we'll ID complet
ed in the northern region the machiner
can be removed and the well will dali
bring forth its yield without any furthe
attention. i neglected to say that tn
Bradford district includes Mexican coun
ty, Pa, and Allegheny and Cattaraugu
counties, N. Y. The principal opera
tions are in the Pennsylvania shire, how
ever. At present there Is some sligh
excitement in Wellsville, Alleghen.
county, N. Y, over a test well for tn
extension of the oil field northwart
The operators as yet have given the ma,
: ter very little attention.
In the neighborhood Of Cole creel
southeastern section Of Mexican count!
/ 1 Is the focal point for wary speculator
, 1t is in the van of developments, an
T wells have been finished that are doin
as high as 200 barrels day. In thu
neighborhOod the drill is advancing t.
ward the oil-bearing rock at 100 wei
} with as much vigor as If oil was sellin
at 81 q barrel, and the supply was le:
than one-half the demand. When ric
section iike this is discovered the greed
producers lose their heads in the excit'
y ment and rush business out of reason an
reason out of business. Then usual
icomes an afterclap, when they can
down refectively and eat the bitter fru
d of their folly. { m-- t'~''
A COMBUsTIBLE TOWN.
In the centre Of the new development
. of Cole, creek Is an illustration OF IL
rapid growth or oil towns. About Il
. latter part of March the first we'll W;
Is struck. IT was q wildcat yentur
When found to be a. good production,
% grand rush was, made ,foc that sectio