Wichita eagle., 1889-03-15
axilg Eas1e
OILDOM'S VICISSITUDES.
History OF tho Rise and Fall of
the Town Of Pithole.
a Farm That Was Sold for Million and .
Half In 1865 Goes for q Hundred
Dollars in 1883 Mercurial
Phases of the Oil Business.


Dollars in 1855 Mercurial
Phases of the Oil Business.
1he Thomas Holmden farm at this place,
OF about 100 acres, was recently sold for
taxes, the amount paid for the property be-
Ing trifle less than 500, writes st. LOUIS
Globe Democrat correspondent from Pithole
City, Pa This farm was the center of the
great Pithole oil development in 1865 and
1896, and during this period was sold to the
Garden City Petroleum Company, of Chica-
go, for 81 SOC. 900 OF this sum s75O0O0 was
in cash. The vicissitudes of the oil bust
ness and its mercurial phases are well
illustrated in the present instance where
the owner Of this famous farm defaults in
his taxes and the old bonanza property is
sold for less than s10Ol In contradistinc-
ton Of this, and as showing the stability Of
other oil lands, it may be stated that two
days before this tax-sale a well was drilled
on the equally famous "Coal Oil Johnny"
farm, two miles above Oh City, on Oil
Creek, which started off at the rate of $50
barrels day. The well has since declined,
but is still good well
The history of Pithole, closing with the
transaction mentioned, reads like a tale
from the Arabian Nights. In 1864 there
was nothing to mark the place but single
farmhouse occupied by Mr.. Thomas Holm
den and his family. Oil developments were
working that way from Oh Greek, six miles
distant, and in January, 1866, the United
States well was drilled on the Holmden
farm. 1t started of at the rate of $50 bar
rels day. At that time oil was selling at
IS barrel The excitement over this strike
was intense and spread to the remotest
parts Of the country and even 10 Europe.
The city of Pithole had a growth never
before equalled in the world, and doubtless
Will never be. In nine months it had pop
ulation of from 1900 to 1900. The re-
ceipts OF the post-office at Plthole for the
quarter ending December 81, 1865, were:
For stamps, s., 240. 10; other sources, 8. 064.-
81; total, 81, 325.04. The number of letters
mailed in that time was 10000, and about
the same number received From Septem-
Der Is, 1865, to February Is, 1866, more than
10000 letters were advertised. The first
time the Holmden farm changed hands after
the oil excitement began Farmer Holmden
eold 1T to Duncan, Prather & Co. for
e25, 600 Mrs. Holmden refused to join in
the deed and the purchasers paid her 500, 900
additional to overcome her objections. 1t
was not long after this until the Chicago
company paid 81, 800, COO for the farm. When
Pithole was at the zenith Of its prosperity
It undoubtedly had a population of 10000.
The post-offlce business at times was larger
than Pittsburgh, and only second to Phila-
delphia. To-day there is nothing left Of the
wonderful town but the runs of Meth
odist church II is an absolute fact that
sou have 70 "let down the bars " to get
into what was once Pithole the site of the
town being now pasture field
In two months after the first well was
struck Pithole had daily newspaper, four
pages, six columns on the page, printed on
brewer and nonpareil type. 1t was metro
politan newspaper In every sense, and was
only less valuable than some of the great
wells. A little picture of early Pithole is
taken from the frsti issue of this paper.
1.-THE rise and progress of our city re-
minds one of an Eastern fable.
This city, it is true, is not of great dimen-
sions, but when the eyes of the stranger
rests upon it's numerous rows of buildings,
its busy and muddy streets, and the never
ceasing din of its commerce and industry
falls upon the ear; when he hears that but
I. few weeks ago this busy scene was still,
and nothing but brown hillsides or quiet
pasture lands would have met his gaze,
nothing less than establishment can fill his
mind. The excitement of California in Its
biggest days pales before the march of
Pithole."
Early in June, 1865, the Grant" well
was struck, which spouted at the rate of
1900 barrels day, and the excitement was,
if possible, increased. Capitalists, eager
to invest, thronged in thousands to the
spot Hotels, boarding houses and private
residences were taxed to accommodate them,
and hundreds sought neighboring towns
for sleeping Accommodations. New strikes
constantly intensified the excitement The
golden treasures of California were forgot
ten in the mad race to reach Pithole
from every quarter of the globe, New York,
Boston, Chicago, st Louis, Cincinnati, Phil
adelphia and hundred lesser cities were
all represented at Pithole. The scene of
excitement and business activity is
without a parallel in the history of
the world. The hotels, thirteen in
number, were luxuriously furnished, and
the theaters brought the best dramatic
talent the stage afforded. The man who
owned or controlled a team of horses was a
monarch. 1t was not unusual to charge one
hundred dollars for hauling load of ma
chinery or goods four miles. Passenger
ldres were uukuoWus as every DoOy lOuDu ID
handler to walk in the indescribable condi-
ton Of roads and streets, A great business
project of Pithole days was the building of
the Reno & Pithole railroad, q narrow
gauge of some twenty miles in length. This
was the enterprise of c. V. Culver & Co.,
at that time the money kings of the oil re-
gion. The road passed over mountain tops
and crawled around the sides of hills to reach /
the City Of Pithole, toward which every
thing appeared 10 be tending. The road =,
was never completed. 1t was graded up TO /
the town and cars ran on it TO Plumer, a dis 1
lance of ten miles, but no train ever ran into /
Pithole. The great wells failed, TO the /
amazement of every body, and prolific pools /
being opened up in other sections, Pithole /
was abandoned, and its decline was as
rapid as its growth. The rapidity Of its de- /
cline was illustrated in the history Of one Of (
its best hotels. II was built and furnished .
at cost of $4,000, but never entertained q
guest. II was afterward torn down and
moved away. The collapse of the town and +
consequent failure of the Reno G. Pithole
raliroao bankrupEeo Z. V. culver and
created panic in financial circles in Oildom.
Two or three banks failed aud dozens of big
firms went down in the crash. Mr. Culver
was then a member of Congress. He and q
business partner were arrested for alleged
in their financial affairs, but
trial acquitted both. and they are
still leading and influential citizens OF Oil
dom.
INDUSTRIAL CONCERNS.
A PROCESS has been discovered for pro-