Louisiana capitolian. (Baton Rouge, La.) 1879-1881, 1881-07-09
was a millionaire in more senses than

The method Of getting the oil is
somewhat after this fashion: A der
rick in the letter V shape, fifty feet
high, is erected; an engine of fair horse
power set in operation a few feet away
from the derrick, and then q patent
boring machlne- which gradually and
effectually loses it's way through all
obstacles is set in motion. This borer
| is hollow and forces, as it descends,
the grades Of earth through which it
passes to the top-so that the opera
tor can see what soil he is cutting
through, In oil drilling, at different
intervals, three layers of peculiar
sand are met with, the last at about a
depth of one thousand feet and this
one is supposed to be found damp. Oil
is generally struck, if at all, in the
third sand.
During very pleasant interview
with Mr.. Williams, editor of "The
Petroleum World at Titusville, Pa,
your correspondent was enlightened
in many ways with regard to the
matters herein set forth. At present
there is an oil overproduction of ff-
'teen hundred barrels per day. There
is daily production of seventy-fye
thousand, while the demand is for but
fifty-fve thousand barrels per dey.
In the old districts, affairs are at
low ebb. The standard price is about
eighty cents per barrel. Ten years
ago it was FIVE dollars. The result of
such tumble in prices, and the sub
sequent fleeing of riches, is shown in
the present appearance of the cities of
Titusville and Oil City. Compare
lively, no cities Of this Union ever
saw such prosperous times as those
two, during the great oil excitement.
Money was no object. The future was
thought of, Everything went at a
high-pressure rate. At that time tt
tusville boasted two of the finest ho-
tells in the country. To-day their de-
serted halls echo the marble floor
ringing footsteps of an occasional
traveller. and the silent walls, within
whose bounds, so much life at times.
has overfoamed, seem to mock at the
efforts of man to hastily grow rich.
Empty houses on each side. There
a famous banking establishment, Cow
a tailor shop, is the history Of one; and
shows into what sad ways even aigh
rated commercial concerns, may in
their time. fall.
In contrast to the above named
places, is the condition of business
and social affairs at Bradford, this
State, one hundred miles north of
here, new oil centre, which is at
present undergoing high pressure of
excitement of mushroom standing,
and which sooner or later will recline
into that state of sober mindedness
that at last has overcome the two IA
nous oil centres of Titusville and Oil
City.
Yesterday, dismay was brought to
the hearts of not few oil men, by a
dispatch from Wellsville, n. Y, to
the effect that a one hundred barrel
well had been struck there. This is
q new region and promises to
add considerable to the present over
production. Upon receipt of the
above intelligence at the Oil Exchange |
the rate dropped to IS cents with
heavy loss, on margins to somebody.
For the past three years a gigantic
the Standard Oil Company,
has fastened its grip on the small pro-
1ucer, and with enormous capital at |
it's back, including the shipping con-
troll of all the oil sent from these re-
yions, It has brought about the inevi-
table result of money against the
worker, in sending the latter to the
wall. This company from 800, 900
capital, now control $3O,O00,0O0. 1t
would surprise your readers to learn
soma this Corporations methods in
the way of gaining it's point. They
are carrying matters with high
hand. and all the subsidized newspa-