, 1881-04-24
AN OIL TOWNS FATE.

n
Sl,ecuIa1ion-The sudden IsiAc and
Equally Sudden Fall OF Summit City.
Summit Cty I'1-} Correspondence N.sr Turk Tribune
i visit to this once crowded and prosperous
place shows that it has suffered tile fate tl:st
ll:ts ovtrtllruWn many oil towns, and threat
ems, soon or late, to rest upon thtln all
This spot. III the summer Of l516. was i Ter
tile farm, OH which the grain WAS just ripcn-
iny. \ "wi!lcat''- oil well WAS sunk. and
the venture proved to be Il good one. l he
fences which inclosed the tarnls were thrown
down and derric}ss erected Oh every side,
many of them i'll wheat fields that were al
most ready for the reaper. In few weeks
lnore the yellow grain would have been gath
cred into the bar1S, but now ii was tlampeu
beneath busy feet and ground down into the
earth beneath the wheels Of heavily laden
wagons that sunk far into the mellow soil.
Thu farmer had leased the land for twenty
one years for one-sixteentl OF all the oil that
should be produced. But he still had to pay
the taxes, and the difference between the
taxes on farm valued at $1,000 and one
valued ut S1Uo, 900 amounted to about:ts much
rs Ills one-sixteenth royalty, while Ills land
WIS rendered utterly useless Tor tarmin ing
The word went forth that new oil territory
had been discovered. and the rush from otlle
the production had commenced TO- decline
was general In one short year from the
striking Of the first well, there had arisen III
Ibis country township, that had scarcely ever
hundred persons, 4 bustltng, busy, crowded,
wicked city Of twelve thousand Inhabitants
1t was in this first year that parties WHO IN
vested inatit money, but most OF those ~
vested in real estate after the summer OF 1871
were losers.
during the first excitement. a young man
came tu The place with but So, but lie wore
good clothes, had a tsood education. and
plenty of ''ccek.'' After surveying the sit
l1atiol for da,; or twu he concluded to spec
ulate, and finding Il farmer who had mol YET
leased or sold his Ialul, lie represented hlu'-
self :lsan agent for wealthy company WIN
Instructions ~ buy up land. The farmer was
rather reluctant about selling, but finally
terms were agreed upon and tile papers were
drawn III and signed Twenty dollars were
paid down To bind the bargain S3,ooo werc
tu bt. paid in thirty days: and S5ooU more IN
six months. lie had but - IL meet ah ~
li..;l.loi, Of $4,000, but, not dcsparlnE. ne
quietly awaited the compile Ion Ut a well that
was being drilled near his new purchase.
Tie we'll was finished i'll five days after the
sale and proved To be Il good ulle: ile was
gain in five days did not tempt him to sell
,,r auuti1cr we'll was being drilled IN Ill all
JOINING farm. aud. should II prove 10 ~: Ms
producer. his land would bc very eafu;tnlc;
IN the OI1EF ft1Ilt5, oHUhlA ~ oC - H"'rets
he c0uI,I not cye,, get us much for the farm
rs he had agreed ~ pay for it. S[ill ne nid
not sell, AMI the time passed rapidly AWAY.
tmiy 4 few days remained beture l'e "ol1id
have to pay S5,Uo0, or the sale would he cail7
ccIctl. Twcn1y.rigtt days had passed nnd
tnf we'll was not down yet. although tnsy
,.y1n.ctr,l to reach the oil rock every hour.
tnt liz. ni.ht .f the twenty-ilint! day lies
up it the derrick wit! the drlsfs 1; # l9F !a'3 ','sy
Mi.Iui.h; c:tlne, and the hands were relieved
by another force His last Dag i,ad az ee, me-:
and was wearing. away, ;s',d lie knew tiiat tne
furmer wuuid moi wait one minute ionsel
than the law required him, for lie had se'-
erai times been offered :. larger amount tyr
tie land. At o'ciurk the sand was reaci'eu'
aud tie well proved to bt: t.tt Largest .s p,o
tInrer vet struck in the new field, The news
of Tie new well rapidly spread ALI! hy noon the
next ,laya number If wealthy oil men we're
~, t,t, GROUND anxious to secure ad1acent
territory: That day ghr yo.'n;: man Sol1 MS
farm uf ITO aclcs for 81 ,093 ptr acre, clearing
in thirty days Sloo, 600. with capital OF only
S:,5 to start Oh. ~
raj t,,,},.um the population Increased. ana Ia
I,orcrs Of every class found plenty OF eln~