The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1889-11-15

beginning at the left the tools shown arc: Sand
pump, jarr, drill, round reanler, drill stem, pipe
tongs, reamer, temper screw.
tonishmcnt that 50 600 barrels had been pro-
duced-;lll in Il little district of Pennsylvania
In 1876 the yield was 5000, 600 barrels Then
the great Bradford field was opened, and the
next Year the yield was l3,ooo, 900 barrels.
Thence the increase was about 5000 900 n
year, and in 1882 America astonished the
world with total yield of 81 ,7S9, | 90 barrels.
What wild freaks did fortune play III those
years i'll many q home What must have
been the sudden elevations when Titusville
spranE at one bound from a country hamlet
to city Of 10000 or more, when Oil City
sprang up in the wilderness, and when thou
sands of acres, worth scarcely three years
taxes suddenly became of immense value
What lavish display by the suddenly rich;
what gorgeous plunage and gaudy jewelry;
what 'ho-turr," as We say in Paris tlllinoisl,
by ladies who had been ''fotch up" in a
cabin and hoed corn barefootcd but must
now ''mnke the tower OF Yurrup, COS pa had
struck ol.n And how fast the satirists and
caricatursts and slang makers followed the
movements of the newly rich. Our language
was adorned with many new and striking
phrases; but why enlarge when one man has
summarized the wholo thing in his own per-
son. The mere name Of Goal Oil Johnnie"
has volume in it. 1t means everything pos
sibe in the line Of reckless extravaganza the
folly Of u youth with suddenly acquired
wealth, and a wild passion to illustrate how
''the fool and his money are soon parted"
The variations Of price were wonderful
Pacific Mail' stock was dead level COM
pared to petroleum. The oil has actually
sold us low rs ten cents barrel and as high
as SO though the average has been about
81. At first it was shipped by barges down
the Allegheny, and by team and in cans and
barrels by rail Then came tae once noted
and greatly dreaded tank cars, and soon after
the pipc lines which are now connected with
some 81 200 wells and receive from them any
where from 10000 to CT, 600 barrels daily. In
addition they hold in storage tanks from 40,-
oO0,000 to 100000 barrels, and this is the
confederation which gives the speculator
pau.r. 1t is not i'll the power Of any combna
tion yet formed to greatly "bull" an article
OF which so much is ready any hour for tho
market There are about s, 600 miles of pipe
lines and over 600 large iron tanks, and
frc:n Olean to New York city flow 1900 or
10000 barrels daily.
The export trade has far outgrown (by per-
centages) that in any other product. In the
campaign of 's4 the people learned with
amazement that In one dozen years tho
United States had exported more wheat than
in all previous years since the Pilgrims
landed; but of petroleum the increase in
twenty years was from 400, 600 to 5O6, ,00O, 900
gallons per year-the latter in lSS3-and its
value at point Of product s44, ,000,000 But
the amount produced or exported was but a
trife to the amount sold-the former could
happen but once to a barrel, but it might bo
sold any number Of times. So in 1888, which
ranks as the last very speculative year. the
sales at four ''oil exchanges" were:
Barrels.
Ou CITY Exchange ..............l, SSl,v5ouuJ
New York City Exchange. ,845 Ats, 600
Bradford Exchange. ,e72, Ill 900
Pittsburg Exchange. 265, $40 600
Total. ,oo4, a6s, 900
The first vein of oil struck by boring was