Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-10-31
A GREAT OIL WELL.
Flowing at the Rate Of Over 5000 Bar
rels Day.
The Largest Well Ever Disoovered-Sud.
den Decline in the Market

OIL CITY, PA, Oct. EFT is not
every day in the week that a well
which the scouts have pronounced pos
itively dry, and which has been given
up by the trade as such on the best OBJ
tainable information, comes in in re-
spouse TO torpedo as market
crusher, vet the Armstrong
well appears to have done
something very like that to-day, 1t
was genuine surprise TO the trade.
1t could hardly have been anything
else, and the result has doubtless
created havoc among many bank ac~
counts. The tradein general has been
getting rather bad dose for some time
past. The unexpected has been hap
pening so often as to make many
traders feel trilie tired. This species
of tiredness, too, is a luxury, and such
an expensive one that few can enjoy
1t. Some, of course, have been able 10
play the market right, but the ma
iorlty have not. The fluctuations have
been 50 wide and so sudden
that the margins of the
man on the wrong side have
been quickly exhausted. While the
market was still staggering along
under the effect of the Armstrong, a
a report that Fisher No. II was filling
up Knocked it down couple of cents
more. The last report heard from this
well was that 1t was being worked as
a mystery. The Armstrong was va
| riously estimated during the day, the
| lowest estimate being 100 barrels per
hour and the highest 200. III was flow
! ing on the ground until late in the
afternoon, and up to the receipt of our
| latest information there was no actual
gauge TO quote. An old operator, a
man of experience, says that the Arm
strong well is positive proof TO him
that the Phillips district is crevice terri
tory similar TO that found at Rock
City, and that IL drill does not strike
a creyice one must be made by glycer-
inc. The gauges of the other wells
of the pool were as follows: For one
hour this forenoon, Phillips No. l, 80
barrels; Phillips No. 2, so barrels;
Phillips No. 3, barrels; Conners, l2l
barrels; Chrlsty, IS barrels; tot ], 30i
barrels. Opened at Sic, and Sllc. was
quickly reached. The rest of the day
was decline, with an occasional rally,
which merely deceived the pikers into
catching on in time to ride down.
me lowest was CSC anu ioB tue close'
Carrying rates are VI.
The flow of the Armstrong No. was
got under control late this afternoon
and the oil turned into the tanks. The
production of the first hour succeeding
was 400 barrels. The well is by ell
odds the largest eyer struck Ia the
Pennsylvania oil fields. Friday the
best scouts in the field reported IL a dry
hole, and the trade believed 1t to be
ouch. 1t was thirty-flve feet in the
sand, which is believed to be only for
ty feet thick. The trade is very
much depressed over the outlook.
BRADFORD, PA, Oct. ~ The Arm
strong we'll, in Butler county, was re
ported early this evening as flowing u
the rate of 5000 barrels per day. j
. was gagged at o'clock, and actually
produced 1886 barrels in sixty minutes
TO night IL produced 374 barrels In ~
hour, and some oil was lost. The oil
flowed twenty feet above the top o
the derrick. II Is believed that thu
: first days production of the well viii
exceed 5000 barrels. far outstrippinl
the famous Christie and Phillips wells
which produced respectively 5000 anC
5000 barrels per day. The new STRIKE
creates the greatest CONSERVATION IN
oil circles tonight.