Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-01-31
ACLEANSWEEP'.
The Standard Oil Company
GObbleS Another Concern,
THE AMAZON OIL COMPANY,
And is Now Practically the Sole
Owner of the Ohio Oil Field.
THE DEAL CONCLUDED LAST NIGHT,
For Consideration Of About $50O,0OO, in
J. NJ GufeyS Office.
THE AMAZON OIL COMPANY,
THE DEAL CONCLUDED LAST NIGHT,
is THERE ANOTHER ONE TO CONQUER? ?

The Standard Oil Company yesterday
bought the stock, leasehold of land, oil
wells and all appurtenances of the Amazon
Oil Company, one of the largest petroleum
producing corporations in Ohio.
The Amazon Oil Company operated 5000
acres of the most valuable oil territory in
Ohio, situated in Wood and Sandusky
counties. 1t was organized in last
June by q number of Pennsylvania
capitalists. Their capital stock amounted
to $500, 600. Mr.. j. NJ. Guf1ey was Presi-
dent of the concern, A. W. Mellon Treas
urer and R. P. Miller Secretary. The
directors and owners of the property were
Messrs. G. w. Sill, 7. J. Vandergrift, c.
Underwood. r. P Miller, J. NJ. Guffey, a.
W. Mellon, H. Darlington, R. P. Mellon
and j. H. Galley.
The Amazon people have been very
busily at work ever since they became the
owners of the property. They had 81 wells
drilled, and their monthly production is
now "a, coo barrels of oil.
1T THREATENED THE OCTOPUS.
With such large territory and such valu-
able land, the Standard people became
aware that competitor was growing up be-
side them which might become troublesome.
To get hold of the entire concern was then
the plan they fixed upon, and negotiations
were at once opened with the Amazon
people.
Mr.. William Fleming, of the Standard
Oil Company, has been trying to close the
deal with them for the last two weeks, and
it was at last consummated in the Office of
Mr.. j. NJ. Gufey, in the Stevenson build
ing, yesterday afternoon.
When Mr.. Guffey was seen, he said, in
reference to the deal: "Yes, we have sold
our company's entire plant to the Standard.
OF course cannot tell you the exact figure
we sold at, but it was not far below the
amount OF our capital stock"
f'What was the reason, which prompted
YOU to sell out?" was asked of the shrewd
gentleman.
"Well, III tell you. At Is cents bar
rel for oil we did not think 1t would warrant
us to keep up such an immense corporation.
The work it required was too much, and the
profits were not large enough. In addition
to that, ought to say that the outlook in the
oil business is
so UNPRoMISING
at present, that we were mighty glad to sell.
A concern like the Standard Oil Company
can manipulate the territory we sold to
them with a great deal more facility, and
with less expense"
"Who were the Standard Is representatives
in the deal?'
'Messrs. William T. Scheide William
Fleming and H. McSweeny, of Oil City,"
The conclusion of this deal not only
strengthens the Standard Oil Company to
very great extent, but it makes the Standard
virtually the sole owner and dictator of all
the oil-producing territory in Ohio. The
only company of any size left in Ohio is the
Ohio Oil and Gas Trust, of which Captain
J. j. Vandergrift, hims,lf director in the
Standard Oil Company, is the President and
largest stockholder. 1t is, therefore, fair to
presume that it will not be long before the
Ohio Oil and Gas Trust will also change its
name, if the change eofisworth making,
and become part, as it is now branch, of
the greatest and richest corporation in
America.