New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-08
AMONG THE OH WELLS.

THE SUPPLY FAR EXCEEDING THE DEMAND
SEVERAL YEARS SUPPLY OF OIL FOR ALL THE
WORLD now IN STORAGE TANKs-DANGEls
THREATENED By OVER-PRODUCUON.
rrRoM Al OCCASIONAL CORRESPONDENCE OF HE TRIM MI
TITusvI1IE, Penn, Jan. St was not
long a-o-a year two, perhaps there wa serious
discussion Of the prospective exhaustion OF tie f'-
sylvania OIL fields. And. in truth, the drain np"h e
wells has been great In addition 10 the universal de-
ond throughout this country for petroleum for iluni
patiDg and heating purposes and the immense export
trade TO foreign countries the past few years have seen
the OIL either crude refined subjected by chemists 10
a thousand new us.s. Not only does II Nleio OILS "
various kinds and parGfue and anilnc dyes but u hh-
been Introduced into medicines, cosmetics and confcc
lions SO the cry went up not uuuatnrily, that me
supply was failing and would before long give out al
together This seemed the more reasonable when ac-
count was taken of The wells already run dry; tho
vns reduced 10 ruin thereby and the increasing use OF
torpclocs and other artificial means for .ILa4's tic
failing Cow OF wells.
tour Arough the various oil districts of this STATE
shows now that there little for anxiety. The
world Is MOI IN imminent peril Of being plunged into
darkness because Of the exhaustion of tlc petroleum.
supply. The fact is, here in I'll. coil country Alone
there are now stored up IN ahs about dU,JJtUUo oar
re- of crude petroleum. Perhaps those figures can be
Appreciated when say rhey represent enough of
to.,,,,r. the civil zod world with Nht for Eve year.
And sri. the OH Bradford n"ll though uu4uc-u7uHbL.
its proGueterc-- I- waning. is pouring oui ITS lIuu
wealth the rate o, about 10000 barrels per day.
Moreover new fields are constantly hcire opened MP
And I'm connection with this fact ar irtc'".tin. cr"m
stance may D., noted. IN the on trade there $50 o
posing factions the conservative ard tuc prosi.s-t e
TN. former is devoted to Bradford 10 would cling To-
the old fields as long drill uni dynamite awaited 10
bring MP gallon OF OIL But :" has opposed tha pro
duction OF more than enough - moot the demand aud
looks with dis-lvor uppu tho erection of vast Reservoirs
Tn r.r.t "a r oil for F..
what" asnc4a leading oii-mo1uccr OF H"ilorA
the other dav V"h" nave n''u IN" prl'i'.i i'4N.'
had your conservative views been adopted generally
"Tis,' DE answered inst '' q" 'A.'' OF .o'' years
surplus production "'" Oh -a-i at '''oA'! -H'o oI
eighty cents barrel an" stored at great expense an"
risk, the same omodnt woid nave occupied ' pT"du'-
ton oud use som" four 'f I'VE years. nr'"''f u' - p
barrel, ana me cost ana I-N Ct 7t'to. """-" nave
been oyo.teA'
An. the eA,ct upon N'.'.o." ANA 'Ich5
,.,.., ..t ,.,,,s. that H. ID, 1u.5 Rr,J-,rd ,rourd
"'"H' -'' ''' a.. '..i., ..i.,
several years nj Ie" ~ oil pay ing 'i''' 'l P'>p.'''
general p
- A., tlr. , oct 81 tr,o root Of thc matter Tctuc
-"' ,",' 49, " - a., Ill .I
say hIst thh' 1881 Hd' "'' HI' 1' i" '' ''' 'I"'
az here wants ever T." soc again Tie depression
!" '"' i"I','' ''' g. ', ~ I - a.
,ncror ou.lit, Of tc American oil over any othcrtu
the world and perhaps 10 some degree to the low prices
ruling here. Wei, petroleum "a now drug on TIE
market, and likely continue Low prices sin RUE
-, 49, .,,o ,,,.,l.. ,vc.. a. +5,c 1sr.,rI FINN f,Id
so long as 'lo N"iI't -' ,I''' o va, i,'i
and sales really much larger"
,,,,. ,,,rI. &. r,,ir.,r.ip
p,.ir,,,,, .b,,,rl .ov 81 500 hero. soc ,ytof II
A""o''' ~
may lead You know what the men OF This oil coun-
Tlsy.o Tsl me key ID