Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-12
For Report of License Court Proceedings
See Twelfth PuEe.
A MARKET CRUSHER.
Dan Depp's DepressOr No. 2
Gets Its Second Wind,
THROWING LOTS OF OIL.
1t Begins to Blow at the Rate Of
5000 Barrels a Day,
CAUSING INTENSE EXCITEMENT

Day unto day, almost. yields sensation
in the Allegheny county oil field. It's
chilly one that doesn't. But the greatest
came to the surface yesterday in the Forest
Grove hundred-foot. The price of oil was
steadily climbing on the exchange until, in
the afternoon, an electric spark announced
that the Dan Depp No. 2, owned BY the
Fort Pitt Gas Company, had responded to
deeper drilling and was making 200 barrels
an hour. some said at the rate of 5000 bar
rels and others 6,OOO barrels in "a hours.
Values shriveled at rate that indicated
that had the news come sooner there might
have been a slump.
81 said in my haste, All men are liars, ,"
said David. A Scotch clergyman who read
the 10th Psalm for the morning lesson had
his attention attracted by David's impatient
outbreak, and pausing few moments and
meditatively scratching his chin, said mus
ingly to himself, but half aloud: "Ah,
Dsvvy, boy, had ye lived moo We might ha'
said 1t at your leisure" Several centuries
after, David, Pontius Pilate, asked: "What
is truth ?" One who follows the course of
oil development and speculation, and specu-
lation seems to run through the warp and
woof of the whole business, will in a short
time conclude that Pilates question has
not yet been answered.
THE LAST GYSER.
A visit was made to the Depp well last
evening. 1t is the one that made the panic.
1t is some three-quarters of a mile north
west of the Vandergrift gusher, on the A.
B. Young farm, and is certainly very good
we'll. Striking an average between all the
stories told and relying somewhat on visual
inspection, the reporter concluded that the
well was a good one--at least ], ,000-barrel
one.
Mr.. Depp stated that she had made
$50 barrels between 10 o'clock A
NJ. and Z O'Clock P. M, which
would give production of close to 1000
barrels day, but she wasn't putting out at
that rate al the Iast-named hour. Mr.. Depp
also stated that she had made lbs barrels in
the first 80 minutes after being opened, and
this agreed with the report of a man named
Grubbs, who said she had put 49 inches In
the tank in 81 minutes.
An attempt was made to get information
from representatives of the Fort Pitt COM
pany on the ground, but it was unsatisfac-
tory, to say the least. They talked, it is
true, but they talked an infinite deal of
nothing, mainly in the style of riddles, and
finally intimated that they might know
more in a dav or two-a fact which doesn't
require much intellect to discover.
The well is undoubtedly a good one, and
the man in charge of the pumping station
seemed to think so, as he said they must
run day and night to get the oil away, and
the capacity Of the line at the point is 200
barrels in "a hours. As the bulk of the oil
comes now from the Depp No. 2 and the
Young well, their combined capacity would
seem to be put at near that figure.
VARIOUS AXES TO GRIND.
The reticence of the operators may arise
from various sources. They may want to
lease more territory. and they are bears on
this point, paying no more bonus than they
can help. They may be bulls on the mar
ket, whether they are carrying certificates or
otherwise, as they do not want to depress
the price of their product. One operator
interested in the well observed that oil would
20 up again this morning, the froth having
blown off the well, and from the reports also.
As a quaint, oId-time Englishman re-
marked concerning the strawberry, God
doubtless might have made rougher piece
of ground than the Depp farm, but doubt
less God never did, and the assessors evil
IDENTIFY think 1t poor agricultural property,
as the assessment is only $50 an acre. A
lover of nature might buy it for its
picturesque appearance, but not for
farming. 1t was a iavorite stamping
ground for the Indians, on account o. their
ability to see long way down the Ohio
from its crags- Not far from it Joel Ferree,
a granduncle of Squire Ferree, was killed
almost a century ago, when he went up on
the hill above Fort Vance and shot deer
before breakfast. He got the deer, but
before be could get it down to the fort
redskiu sent ball crashing through his
brain and took his scalp.
A short distance above, on the opposite
side of Montour run, is a cavern where Brady
and his scouts once housed themselves when
watching the motions of the Indians.
LAND OWNERS ARE CHARY.
There is an extended effort to get leases in
the neighborhood, but the lessees want to
get them without paying any more bonus
than possible, ard most of the land holders
are fully as firmly set the other way. Oper-
ators give taffy lavishly, but money as spar
ingly as possible. George A. Lashell yes
terday leased ten acres of the MeElherron
farm, but reserved the rest of ii.
The well which raised yesterdays CON-
motion is an old one, having been struck
some months ago. 1t was a fair producer,
but latterly has been somewhat down at the
heel, and it was decided to drill il a little
further. The hole was made II to Is feet
deeper, when the fluid was liberated from a
fresh pocket. There isn't as much gas as is
met with in some gushers but its expelling
power is considerable-ample for the pur-
pose. The actual probable continuing
capacity of the we'll may not be known for
some days.
Mr.. Depp yesterday afternoon stated that
No. 1 was still making 500 barrels week,
but representative of the Fort Pitt pro-
fessed to discredit the statement. 1t began
flowing early last fall and has certainly
been very profitable hole.
The landowners a year ago thought gas
wells nice things to have around, but they
elevate their noses at them now There is q
vast amount Of speculation in the eyes with
which lessons and lessees glare at each
other.