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

one.
The method OF getting the oil is
somewhat after this fashion A der.
rick in the letter Y shape, fifty feet
high, is erected; an engine Of fair horse
power set in operation a few feet away
from the derrick, and then patent
boring machlne--which gradually and
etfectually 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
ip 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 five
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 a 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 Ii
tusville boosted two of the finest no.
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, now
a tailor shop, is the history of one; and
shows into what sad ways even high
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 recIine
into that state of sober mindedness
that at last has overcome the two ia.
nous oil centres of Titusville and Oh
City.
Yesterday, dismay was brought tt
the hearts of not a few oil men, by ;
dispatch from We,'sville, n. Y. t.
the effect that one hundred barrel
well had been struck there. This il
entirely a new region and promises tt
add considerable to the present over
production. Upon receipt of thu
above intelligence at the Oil Exchange
the rate dropped to Is cents with g
heavy loss on margins to somebody.
For the past three years a gigantic
monopoly, the Standard Oil Company
has fastened it's grip on the small pro
Queer, and with enormous capital al
it's back, including the shipping con.
troll of all the oil sent from these re.
gions, it has brought about tho inevi
table result of money against TIT
worker, in sending the latter to thu
wall. This company from Sl0O,OO|
capital, now control $3O,0O0,0O0. i
would surprise your readers to learl
soma this Corporations methods il
the way of gaining its point. The,