Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-11
THE LOCATION STILL IN THE DARK.
Numerous Wise and Unwise Guesses Made,
but None of Them Hit the Bulls Eye.
AN EASY WAY TO ACQUIRE HOMES

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the Tradesmen's National Bank was the
purchaser. While the location of the prop
erty cannot be given for day or two, owing
to some legal formalities which have not
been adjusted, it can be stated in the most
positive terms that neither of the above
statements is correct. 1t is not the Nc
Combs property, and the Tradesmen's Ma
tional is not the purchaser. The sale was
bona fide, ana the price realized was, as stated
in THE DISPATCH, the highest on record in
Pittsburg.
In connection with this it may be stated that
IS, 600 foot front has been offered for piece
of Fifth avenue property, not very far from the
postofice. The owner acknowledges this is
high price. but thinks he can get little more,
He may, however. accept the 5000 offer.
An institution which would advance loans to
persons of small means to buy homes and en-
able them TO pay for them in small installments
has long been needed in Pittsburg. After
great deal of effort WI A. Heron Sons have
supplied the vacuum by making an arrange
ment with the United Security Life Insurance
and Trust Company, whereby the purchaser,
by paying down 20 or 25 per cent of the pur-
chase price of the property, can arrange to ad-
vance the remainder of the money
and pay cash for his properly,
and thus buy at the lowest price
and pay back the money advanced In 5. 10. Is or
20 years in monthly or quarterly payments of
small sums, and at the same time have his life
insured. If the purchaser should die before full
payment is made the debt would be Cancelled,
leaving the property clear to his widow or heirs.
1t is understood that the new company will
have close relations with the Fidelity Title and
Of fI1ol innrc
holders of the latter being interested in it This
alone will serve to recommend the new venture
in the highest manner to the local public and
will at once give it high standing.
&E#
Prof Edward orton, State Geologist Of
Ohio, recently read paper on the rock pres
sure Of natural gas, of which the following is
thB concluding paragraph: There is no danger
that the great gas reservoirs of to-day will
cave in or blow up after the gas is withdrawn
from them. The gas will not leave the porous
rock until the salt water obliges it to by driv-
ing it ont and taking its place. The doctrine
lays the ak at the root of all the optimistic
theories which blossom out in every district
where natural gas is discovered. and especially
among the real estate operators of each new
field, to the effect that nature will not fail to
perpetually maintain or perpetually renew the
supplies which we find SO delightfully."- adapted
to our comfort and service. So far as we are
concerned. it is certain that nature has done
about all that she is going to do in this line.
Judging from the present Indications the
Trenton limestone gas in Ohio is not likely to
be longlived. 1t seems entirely probable that
the term of its future duration can be ex-
pressed within the limits of a number of one
digit In considerable sections of the field the
salt water is very aggressive. 1t requires
steadily increasing pressure on the wells to
hold it back.
The Importance of Pittsburg as an oil center
and'the rapid Development of territory in the
surrounding country lend special interest to
the movements of this product in other parts
of the world. Among the latest and most in
teresting contributions to petroleum history is
the report of United States Consul Pettus, at
Picking, China, regarding the consumption of
oil in that country and of Russian operations
at Baku. He says:
zone of the most striking features of recent
customs returns is the immense and rapid
growth in the import of Russian kerosene oil
into this country. Indeed, judging BY. the leaps
and bounds by which the new trade has ad-
Yanced, one might, with reason, conclude that
the American oil was giving way before that
of the Muscovites. Brother Jonathan had
surely needs bestir himself or the oil wells Of
Pennsylvania and other States will cease to
supply this illuminans to the far East, as they |
have done for years past 1t is not hard to ex-
plain the reason of the progress of Russian oil |
here. 1t is somewhat cheaper than its older !
rival, and its sources of production at Baku |
are simply unlimited,
'Mr Charles Marvin, in that highly interest
ing volume. THE Region of Eternal Fire" |
writing of the oil supply at Baku, which he |
has Of
against India" and. contrasting the resources
of the Russian with those of the American oil |
supply says that he saw 400 wells around Baku, |
all at different depths, and therefore appar- |
entity springing from independent reservoirs. |
Some of these wells varied in depth from 295 |
to $50 feet, while one well which had been |
worked for generations was only 20 feet below |
the surface The famous Droobja fountain |
well, spoutinG oil 800 feet high at the rate of |
2 000 900 gallons per diem, came from a depth |
of 574 feet which shows the enormous natural |
forces which must have been at work below, |
while all around were small wells of 600 feet |
Deep throwing up their spouts of the valuable
oil quite unaffected by the giant well or Droob-
ia Many of the pumpings had been worked
from remote times without any apparent dmi-
mutton of their resources. The whole peninsula
of Apsheron is honeycombed with thousands of
oil wells one of which had given 1,5OO, 900 bar
rels, and yet the pumps were drawing the oil
as freely as when it was first tapped years ago.
''The wells in America are much deeper and
a man thinks nothing of boring 1000 feet for
oil, but 800 feet appears to be the average in
the Baku region. In 1888 two flowing wells at
Baku threw up $1,000 900 gallons apiece of oil in
two months and they were finally plugged to
''cork up" for future use. Nobel Brothers, the
Russian oil kings and rivals of the DeVoes
have IA such gigantic reservoirs corked up, be-
cause the crude petroleum will not fetch more
than few pence ton at Baku, and the deep
est of these basins is only 800 feet from the sur
face, while in the Bradford region in America
there are numbers of wells 1000 or 5000 feet
deep, and one in West Virginia which is over
5000 feet Deep"
j. C. White, Professor of Geology in the
State University of West Virginia, said in a
recent interview: For years believed that
the oil fields of Western Pennsylvania ex-
tended down well into West Virginia, If not
clear across the State. The same geological
formation paralleled the same mountain range.
and could not see why oil should not be
found. Oil was struck in the Washington
district in the strata known as the manifold
;and,' and knew the same sand to exist
through West Virginia. The sand gave but
one big well in Washington county, and oil
men thought it too spotted and uncertain to
invest money in West Virginia for long time,
but finally, in 1885 and 1885, they commenced
trying, and now there are fully 30 wells in the
state. They are mostly in Monongalia county,
ust across the line from Greene county Pa,
Ind now drilling is being pushed far south of
hat. pushed farther south in the next
county, and put down well which is doing
,nly few barrels a day, but enough to show
What there is in the field, and 1t is only ques-
ion Of year or two until an oil belt win be
leyelnnei clear acroaa the stata 70 the BIZ.