Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1882-08-11

! AEfVHSIAENIS.
| The history of the discoveries
In the oil fields in this country has
been one of a series of disappoint-
ments to the producers. From
1906 to 1872 the price per barrel
averaged from 81 to SIS, and the
producers were making money rap
idly Then the field in Butler
County was struck, aud from that
day to this the production ha.
been greater than the consump-
ton. Before Butler had Begin
to decline the Clarion field was
opened. Then came the Bullion
pool with its 1000 and 5000 bar
rel wells, which forced the pric
down to Sl.5O.S This field was
soon exhausted, and better times
for the producers were at hand.
when the Bradford field, the
largest in extent ever known, was
opened. For nearly five years the
Bradford field increased its pro-
duction, until it had daily out>
put of over 100000 barrels. The
consumption was not over one
half this amount, and, with the
Standard Oil monopoly squeezing
the producers, many of them went
to the wall. Then Bradford began
to decline, and again a silver linz
ing was seen IN the cloud; but
again disappointment came. In
May, 1881, the first well was
struck in Allegheny County, New
York, and a new field was opened
which soon more than made up
for the decline. In the spring of
the present year the Allegheny
field showed that it had passed
the climax and was on the decline,
and again the producers looked
forward to the near future when
the consumption would equal the
production. Then was the great
"646" mystery struck, and with
it followed disaster to the owners
of wells generally, and lower
priced oil than since the summer
of 1874, when for short time it
sold for As cents barrel. Where
the next field will be is only a !
matter of conjecture.
The only time when the excite
ment over a new oil field was as
great as that now reigning in the |
Cherry Grove district was in 1865, |
when the Pithole fever took pos.
session of the public. The first |
well was opened there in May of
that year. In less than two
months Pithole was city of con>
siderable proportions, and within |
six months it had 5000 inhabi>
tants aud almost as large q float
ing population. At the pinnacle |
of its greatness it had fifty hotels,
some of them palatial and gorge
Gus, and one Of which cost $780, |
900. 1t had miles of streets lined |
with banks and all kinds Of bust
ness establishments. A $4,000
transactian was considered of
small account, and, miscalculating |
the future of the place, wealth was
squandered on new enterprises
which in the minds of its citizens
promised fabulous fortunes: but
Pithole was ouly a child of six
months growth when it began to
exhibit symptoms Of an early de-
cay, and it declined almost as rap
idly as it sprung up. The Tri.
bune correspondent visited Pit
hole the other day and found only
one voter living in the place.
The railroad was long ago torn
up, and most of the houses were
torn down. Two Of the streets
are still open, and beside them re.
mains a pitiful scattering of old
houses in the last stages of decay.
3. Fields of corn and oats stretch
over the streets and squares
where once were gaudy theaters
and dance>houses, gorgeous
saloons and mammoth hotels.
When the oil fever was high
a half acre of what il now waste
was sold at . rate
equivalent to 100000 an acre.
Over on the hill still lives old Mr..
Copeland, who in 1862 refused an
offer of 100000 for his farm.
Two years later he would have
taken % many cents. He still
owns it, aud his daughter teaches
school and supports the family.
In all this there may be . les.
eon for speculators at Garfield tC.