Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-22
FICTITIOUS REPORTS.
SENT OUT BY THE BEAR ELEMENT IN
OIL CIRCLES.

Really Very Little Available Territory to be
DriIIed-The New Pipe Line Project-A
Fatal Double Accident.
The bearish report promulgated through
out the oil regions for the past 80 days by
the bear element of the trade is only another
evidence of the policy of the Standard Oil
Company and their henchmen. The field
situation from Allegheny county to West
Virginia does not in the least corroborate
this assumption. In the old northern and
middle fields the production is daily de-
creasing, while at the same time operations
are being greatly curtailed. The facts OF
the case are that very little available terri
tory remains to be drilled in the enorthern and
middle fields, and what remains is OF small
caliber.
Wildwood, which has been the center OF
attraction, and owing to its large produe-
tion has exerted potent influence upon the
market, and which has also been augmented by
prospective territory. The situation tonight,
as developed by the drill draws an entirely
different conclusion. The Marshall Oil Com
pany and Harley well on the northeast line OF
the field is reported through the sand tonight
and in the slate Some practical oil men opinion
ate that the venture is duster beyond doubt
but careful observation of the oleaginous
events gives this well, SO to speak the oeIens @
strata referred to may only be break, and
that better digging may be found with deeper
drilling. In some respects the well bears the
characteristics of the Menke venture OF the
Southeast line.
There is no particular change at the White
sell No. G, and it may be noted that further
drilling has not improved its production. and
at present the well looks like a fac simile of
the Gibson farm well to the north. The Ring
heisen we'll is still fishing. CHARTERS to-day fur
nishes further proof of the bullish aspect of
affairs and comes to the front with three dry
holes. The John A. Mckee well, in advance
of DEVELOPMENTS toward CHARTERS town. is in
and duster of the first water, while
Young on the Taggart. and Snyder on the
Hartman is 1ast in the same category. The
star of hope is not in the ascendant at Thorn
run, as indicated by the Finnegan Downing
well on the Neely farm. which is scheduled as
a small producer. This same company's Will
son farm well tapped the sand tonight, which
gave forth an abundance of caloric fluid. This
is a new feature of the drilling in this field,
and the finale can only be told by deeper drill
ing. The Montour field has long been relegated
to the rear ranks, and all prospective territory
apparently coopered.
The only news of import from this section to-
night is the Moore well No. 9 which is four bits
in the sand and filled up LOO feet with oil.
There is no significance whatever attached to
this we'll and judging from the other wells in
fair to presume that it will be only an
ordinary pumper. The McCurdy well, in its
present status, has been overestimated which
seems to be the natural inclination and drift OF
the average oil man to boom all new strikes.
From the'most authentic source the well this
morning under agitation did Is barrels an hour,
but tonight was only doing nine barrels an
hour. The lucky owners have been offered
100000 for their well and 500 or 700 acres of
territory. which was promptly refused The
Bridgeyile well was enormously reported this
morning as flowing Is barrels an hour, but the
facts are that the well is being tubed and at
Warrington, Belmont and Eureka present
no new features. and the indications point
to cutting down on production. At Muir
dochsvlle Boggs & MechlIn have Just added
another proof to the bright prospects of the
future by bringing in a dry hole on the Burns |
vile development and three miles southwest of |
the Ferguson pool This well virtually cuts off |
all hope of a connecting link between these de- |
velopments. There is no other section of the !
southwest that has any bearing at the present |
writing upon the situation. Butler county fur |
nishes nothing new. with the exception of |
Markham & Co.'s well on the McSupher farm,
to be good for so barrels per day. By some |
practical oil men. this is taken as an |
indication of an extension of the old develop |
ments Upon investigation it has been cor |
rectly ascertained that there is some oil in the
Mount Chestnut well, but just whether it will |
mined at this period. The Guckert & Steele |
well on the Humphrey farm is gradually de- |
clining from its soaring heights, while the |
] Jefferson Center Oil Company well in the old |
pool is declining It is reported to- |
night that a well at Legionville on the Moore |
The well was dry in the lO0-foot. and is being |
mystified by Its owners so saws reports