Springfield globe-republic. (Springfield, Ohio) 1884-1887, 1885-03-16
AN OLD LANDMARK.
A Hotel which Recalls the Famous Fit
hole OIL Farm.

Bv the tearing down of the old Dun
can house, at Oil City, says Bradford.
Pa. telegram to the New York Times,
the last relic of Pithole's palmy days
has been removed. The house was
built in the spring of 1865 by {. f.
Duncan. and cost $4,000. Duncan
was a Scotchman. who became interest
ed with John, George. and Abraham
Prather in the purchase of the Holmden
farm aa Pithole. from which. on an in
vestment of $4,000, they made : .ooO,-
600 each in few months. The Holm
dem farm was the pioneer oil territory
of Pithole. The farm belonged to the
father-in-law of John Prather, who,
with his two brothers. kept small
country store in the village of Plumer.
A wildcat oil company, known as the
United States Petroleum company, and
organized as hundreds of Others We're
formed in those days for the sole pur-
pose of disposing of its stock. the idea
of actually finding oil not being enter
tanned by any of its projectors, leased a
small portion of the Holmden farm on
which to base their claims and to pro-
ceed with drilling operations. The
Prather brothers believed they might
make some money on the strength of
the work being done by the oil COM
pany. and secured the refusal of the re-
mainder of the Holmden farm for sixty
days. If they concluded to buy at the
end of that time, they Were to pay
$4,000 for the property. Duncan was
then speculating in oil in the Pittsburg
market. and to have the benefit of his
services in securing a purchaser for the
Holmden farm they admitted him into
the scheme as an equal partner.
While Duncan and John Prather were
in Philadelphia looking for purchaser
for the farm, the drill at the United
well struck the oil vein, and the well
began to flow at the rate of three hum
dred barrels day. The region went
wild with excitement. There was no
railroad or telegraphic connection with
Pittsburg at that time, and George and
Abraham Prather. knowing that the
Holmden farm was now worth $1,000
600 at least, were rendered nearly crazy
at the thought that their brother John
might sell the farm before they could
get word to him. George Prather hur-
ried to Oil City and telegraphed to
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DIS :.iso o",i. 'ea Sa. IAN
coo. Eventually be sold his interest in