The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-05-09
STRUCK OIL.
The Oil Craze in Penn
sylvania.
Specu1ations and other In
cidents to the Excitement.

|
thrown many oil towns, and threatens 500
or late, to rest upon them all This spot
in the summer Of 1876, was fertile farm
on which the grain was just ripening. 4
wildcat" oil well was sunk and the ven
ture proved to be good one. The fence
that enlosed the farms were thrown down
and derricks erected on every side, man
of them in wheat fields that were almos
ready for the reaper. In a few week
more the yellow grain would have beer
gathered into the barns, but now it wa
trampled beneath busy feet and grounC
down into the earth beneath tn,
wheels of heavliyladen wagon,
that sunk far into the mellow
soil. The farmer had leased the land fol
twenty-one years for one-sixteenth of al
the oil that should be produced. But he
| still had to pay the taxes and the differ
ence between the taxes on a farm valued
at $4,000 and one valued at 100000
| amounted to about as much as his One-six
teenth royalty, while his land was render
ed utterly useless for farming. The word
went forth that new oil territory had
been discovered and the rush from other
| oil towns and all parts of the oil regions
where the production had commenced to
| decline, was general. In one short year
| from the striking of the first well, there
had arisen in the country township that
had scarcely ever before witnessed gath
ering of over one hundred persons a
busting, busy, wicked city of twelve
| thousand inhabitants. 1t was in this first
year that parties who invested made mon
ey, but most of those who invested in real
estate after the summer of 1877 were losers.
During the first excitement young man
came to the place with but S25; but he
wore good clothes, had a good education
and plenty of cheek" After surveying
the situation for day or two he conclud-
ed to speculate, and finding a farmer who
had not as yet leased or sold his land, he
represented himself as an agent or a
wealthy company, with Instructions to buy
up land. The farmer was rather reluctant
about selling, but finally terms were agreed
upon and the papers were drawn up and
signed Twenty dollars were paid down
to bind the bargain; $1,000 were to be
paid in thirty days; and $1,000 more in
six months. He had but So to meet an
obligation of $4,000, but not despairing
he quietly awaited the completion of well
that was being drilled near his new pur-
chase The well was finished in five days
after the sale, and proved to be a good one.
He was offered $40, 900 for the farm; but
$4,000 clear gain in five days did not
tempt him to sell, for another well was be-
ing drilled ON an adjoining farm, and
should it prove to be a big producer,
his land would be very valuable. On
the other hand, should it be ''duster,"
he could not even get as much for the
farm as he had agreed to pay for it.
Still he did not sell, and the time passed
rapidly away. Only a few days re-
manned before he would have to pay
81. 900, or the sale would be cancelled.
Twenty eight days had passed and the
well was not down yet, although they
expected to reach bed rock every hour.
On the night of the twenty ninth day he
sat up in the derrick with the drillers,
feet of the sand Midnight came, and
the hands were relieved by another
force His last day had come, and was
wearing away, and he knew that the
farmer would not wait one minute longer
than the law required him, for he had
several times been offered a larger
amount for the land. At o'clock the
sand was reached, and the well proved
to be the largest producer yet struck in
the new field. The news of the new well
rapidly spreading, and by noon the next
day q number of wealthy oil men were on
the ground anxious to secure adjacent ter
ritOry That day the young man sold his
farm of 10 acres for 81, 900 per acre, clear
ing in thirty days $1,000, with capital
of only S25 to start on.
With the increase of the production of
petroleum the population increased, la
borers of every class found plenty of en-
plOvment. What had been a lane leading
to a pasture field was changed in a fortnight
into street, lined on both sides by rows
of houses. Land that q few weeks before
would not have brought $40 per acre, was
now marked off in building lots and sold
for So a foot front, 100 feet deep. In the
spring of 1877, there was not a licensed
house in the town. yet almost every other
door was an opening to a gin mill, where
''tanglefOot' was dealt out to the thirsty
and where the sullied charms Of the dance
hall lured the sensual.
In June, 1877, the Bullion excitement
was at its height. In this month John II.
Lee and the Hon. w r. Crawford of
Franklin, struck the Big Injun' well
which produced over four thousand barrels
largest quantity Of oil ever got out Of any
one well in that length of time This IA
nous ''gusher' now pumps about eight
barrels daily, which is good indication of
the place itself. Immediately after striking
of the Big Iniun,' most eXtravagant
prices were paid for land. Lots just large
enough to place well on, 100x50 feet,
were marked off and sold as high as $4,000.
apiece. The same land had been bought
but few months before for $50 per acre
The production of the Bullion field at one
time reached nearly 100000 barrels per
month. 1t is now a little over 20, 600 bar
rels per month The site of this former
greatness presents an appearance OF utter
desolation. Where a few years ago stood
business edifices, nothing but multitude
of cellars and piles of rubbish now remain,
showing the haste with which their owner
had pulled up stakes and left for other
places most OF them for Bradford, the
Niece of Oildom; and the history of Sum
NIT Citys dazzling rise and sudden fall
sounds even now like a weird romance or
ancient fable.