Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-14
OIL PROPERTY SOLD.

Ritts & Walker, of Butler, Clean Up
$4,000 in Three Months in the Hun
dred Foot District-wells Showing
Light in the Mcdonald Field.
A special to THE DISPATCH last evening
from Butler says:
Signatures were affixed to-day closing
big Oil deal. The property transferred is
located in the disappointing Hundred
Foot" but is q queen, not only in that decep-
tive territory, but in the oil region.
About two years ago Guckert & steele, Of
Pittsburg, developed the property, and,
after receiving large profit on their invest
ment, concluded to sell it. There were sew
eral anxious buyers, but about three months
ago they sold the leases. comprising l4O
acres, IL producing wells, az one-ei9hth roy
atty. and one gas well, for s6O,VOO
j. V. Ritts taking three-fourths interest,"
and William Walker the remaining fourth.
The gross output was about ll,OOO barrels
per month. BY thoroughly practical man
agement the production was gradually In
creased to 13 900 barrels per month, 10 the
amaZement of the owners OF hundreds OF
wells that continued to decline i'll produc-
tion. To cap the climax, and. after the
property had produced, in about three
months, over 10000 barrels. Messrs; !I Klfts Ts,
pany for SIS OOO The net profit OF Ritts q
Walker is $4,000.
Reports From the Fields.
The Wheeling Gas Company's No. on the
j. p. Scott farm, south OF Mcdonald,
reached pay streak in the fourth sand
yesterday. and made several good nows dur
ing the forenoon.
GreenIee and Hartman's No. on the
Potter Iarm was one bit in the Gordon sand
yesterday morning, when they started TO
move back the boiler.
Their No. 2 is making 40 barrels day, and
NJ t. 0f,x . I,.,,. ,aIo
Tho Forest Oil Company's Devine, in east
ern McCurdy, has made several flows from
the fourth sand. They expect to get another
pay.
Greenlee & Forst have put the 81 casing
in their No. Aiken, in the eastern McCurdy'
and they are rigging up a. No. on the John
Shane farm.
The Deyonian OIL Company is drilling its
No. on the X. Mcdonald farm to the n nth
sand from the Gordon, and their No. IS
down 400 feet. They will drill No. Cubbage
to the fourth sand.
The Florence Oil Company is starting No.
on the Gibson farm.
Tho Oakdale Gas Company's No. on the
Lutz farm, north of Oakdale. was IL feet III
the fifth sand yesterday without showing
of oil.
Fisher & staley's well on the Klouse farm
in the Undercliff field has struck pay In
the 30 foot and is showing considerable OIL
Guckert Il Steele's well on the Wander
wort farm in the Garvin district is 60 feet
in the lO0-foot. They expect pay when in
50 feet.
schiegel, Lenz & Co. will get the sand this
week in their No. Gardner in the Garvln
pool. Their No. Vandervort is down SUI
feet.
The Gauges Yesterday.
The estimated production of the Mcdonald
field yesterday was $4,000 barrels, 800 more
than on Saturday. The Woodland Oil Com
pany's No. Scott was making 45 barrels an
hour; Knox Bros. & Co.'S No Scott. % an
hour. The stock in the field was $4,000 BAR
rels.
The runs from the Sistersville field were
1858 barrels.
Runs and Shipments Monday
The National Transit runs were g., ,375; ship
ments, 6O97. Runs of Southwest Pennsyl-
vania from Mcdonald, II, ass; outside of Nc
| Donald, 1895; total runs, q, $50. Buckeye
runs OF Macksburg oil, 6,467 shipments. SCI.
| Buckeye runs of Lima oil. 42 OBI: shipments,
| 1873 Eureka runs, %, 222: shipments, none.
| New York Transit shipments. 1883. South
| ern Pipe Line shipments, 42,0ll.
The runs of the W. L. Mellon Pipe Lines
were g. 25S; receipts from other lines, none;
| total receiDts 82jS: shipments, S73
| The Western ana Atlantic Pipe Line runs
| for Saturday, Sunday and Monday were 3, I6G
| barrels and the shipments for the same time
were 10, 0,92l barrels.
The OIL Market.
Range of the January option: Opening,
SIC: highest sic; lowest, b335c; closing, 5318c.
Refined oil-New York, 5.45c; London, "a
| @456d: Antwerp, 127At.
| NEW YORK, Dec. l3.-Petroleum opened
| dull and nominelly easier: not a single
| transaction was reported. The closing quo
| tation was 53IIc bid and 531sc asked.
| OIL CITY, Pa. Dec. l3-Opened. SAC; high
| est, 54c; lowest, 531c: closed. 535sc: sales,
90 600 barrels: clearances 40 600 barrels; ship
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