Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-11
ONE GOOD PRODUCER.
Some Others We're Showing Up Yes
terday for Small Wells.
SALT WATER ON THE SCOTT FARM.
Two Dry Holes Which Have Just Been Fin
ished in Butler County.
A. ". PETERS LETTER ON THE MARKET

There were umber of other wells, how
ever, which were drilling in the sand
and showing light. This is getting to be
the rule throughout the field and it is
probable that before many weeks we'll
that starts off at Is or 20 barrels an hour
will be termed a gusher. The memory of
the big wells struck in the fall will tend to
decrease the estimate of those which will
be completed for some time to come.
Jennings, Guffey & Co.'S No. on the
Heron farm, in the Matthews hollow, back
of n oblestown was the only big we'll which
came in yesterday. 1t struck in the sand
early in the morning and started off at IS
barrels an hour. One report was to the eff
feet that it was making IS barrels, but the
former was ascertained to be the correct es-
innate. The same parties No. 5 on this
farm is on top of the sand and delayed by a
difficult fishing job. They are down 500 feet
in their No 8 Heron, which was started
several months ago. The first hole had to
be plugged at depth of $50 feet, and the
rig moved, after they had fshed for weeks.
The Oakdale Oil Companys No. 4, on the
John Wetmore farm, was reported last
evening on good authority to be making Is
barrels an hour. Their No. on this farm,
L
and filled up few hundred feet with oil,
but is not flowing The chances are that it
will be dry. 1t is located only short dis
tance from Gufey s. Queens big wells on
the Wetmore farm.
Salt Water in the Scott Well.
The we'll of Knox & Co., on the Scott
farm, three miles southwest of Mcdonald,
was drilling in the bottom of the Gordon
sand yesterday, when a heavy vein of salt
water was struck. The hole filled instantly
and entirely shut off the showing of oil
which they had in the Gordon sand. The
salt water will be cased off
Stafford, Clark, Wilson & Co.'S well on
the Faraday lot, at Willow Grove, was
drilled deeper into the sand yesterday, but
it was not improved The well is making
almost 400 barrels day.
The Willow Grove Oil Company's we'll
on the Msnkedick farm, located half mile
southeast from Willow Grove, is making
200 barrels a day strong. 1t will be drilled
deeper some time to-day.
Hussler, Davis & Bolts No. on the
Boyce farm, in southwest McCurdy, is due
to get the fifth sand tomorrow. Thev have
struck strong gas vein in the Big Injun
sand at their No. on this farm, and are
building a rig for No. q.
Gufey, Murphy & Galey's No. Corn
we'll was reported to be in Yesterday and
showing for fair producer
Millison & Co. are starting a rig for their
No. on the Henry Shaffer farm, in south
west McCurdy. 1t is short distance north
east of the Forest Oil Company's No. l
Martha Wright.
The Royal Gas Company's No. 2 on the
Mary Robb farm has ceased flowing. This
company is pulling out its well on the Dale
lot at Leesdale.
The Devonian Oil Company's No. Ell
liott is delayed by fishing job. The Shat
fer Oil Company has abandoned its we'll on
the Brown lot at Mcdonald
Brown, Robson & Co. started to drill
their No. 1, on the McMurray lot at
Noblestown, deeper into the sand yesterday
afternoon.
Patterson & Jones' No 1 McGarr, west
of McCurdy, was still spraying oil yester-
day, and the gas has increased. 1t has not
yet been drilled into the sand, and may not
be for some time.
Butler County Wells.
BUTLER-Reiber & Co. s we'll on the
Dietrich farm, located mile in advance of
the Petersville 100-foot developments, was
drilled deeper yesterday and continued to
was improving.
HARMONY-Guckert & Steele's No. z,
Stauffer farm, is in the sand; also Brown &
Co. on the Hollerman. Golden & Co. s No.
4, Shiever, made 20 barrels in "a hours
The Uhle farm venture is through the sand,
which is of very poor quality. They will
probably shoot the well this week Stewart
& Co.'S No. l, Bremen farm, is big
gasser. Herman, Mcbride & Co.'S No. L,
Moore farm, is II feet in the sand and has a
little show of oil. Mckee No. 2, Stutz
farm, is ten feet In the sand and no oil vet.
Hovis, Dale & Co. s well on the Blair
farm in Penn township is dry in the third
sand. 1t will be drilled in the fourth.
John A. Irw1n's No. on the Irwin farm
at Glade Run was shot yesterday and went
from Is to IS barrels day.
Speculation May Revive.
In a published communication Augustus |
W. Peters, Chairman of the Petroleum Ex- |
change of New York, says: There is a |
speculative commodity that at times Jumps |
up and down with speed which delights |
traders and increases business. This is |
petroleum oil, in which see indications of |
a return to its old-time activity, If this be
the case it will afford needed opportunity
for money making far superior to that of
fered in stocks or the cereals Not |
many years ago oil was the favorite
speculative medium of this country.
wicks, Paynes and other noted miIlionaires
were made in oil An advance or a decline
OF from ID to 20 cents day was an ordinary
occurrence, and the transactions were |
enormous. The result was that brokers be-
came rich on commissions; their customers
had chance to make money daily instead
of once or twice year, and everybody was
prosperous. Oil fluctuated between 81 20
and 4S cents per barrel, and a dozen oil ex-
changes were in successful operation
throughout the country. The dullness in
oil has now continued for three years, and
it is time to look for a revival such as will
astonish those who are accustomed only to
the slow fluctuations of stocks.
An upward reaction of important dimen-
,ions seems to be near at hand.
General business, especially in the fnan-
cial center, will be immeasurably increased
BY revival of oilspeculation.
Production and Runs.
The hourly gauges yesterday were as fol-
ows: Jennings, Guffey & Co.'S Nc Mat
thews %; Heron No. 9. %; Heron No. 4. IS;
Gutfey & Queens Nos. l and Wetmore, 55
MOL Samuel W Wetmore, 100; Devonian Oil Com
No. Morgan heirs 80; Nos 2and
Baldwin, 65; Nos. l and 2 Wallace 40: pro-
iuction, $1,000; stock in the field, 6l, COO.
q: The runs Of the Southwest Pennsylvania
lay were 81, ,475; outside of Mcdonald, 1899;
National Transit runs were 81, 420; Shipments |
s,ol9 Buckeye runs, 35,246; Shipments 41,36L
Macksburg runs, 99j. southern Pipe Line
shipments, 10, l5S. New York Transit Com
oany shipments, 33 4S4 barrels Eureka runs,
',ss6; shipments, 1928.
Yesterdays Market Features.
Business moved at q slow pace. Outside
'peculations were not in it. The price was
VeaE L ha for |