Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-02
BIG OIL LAND SALES.
Greenlee & Forst Reported to Have
Sold Out for $350,000.
SILL HOLD THEIR GORDON STUFF.
Uncertainty of the Business illustrated in
the Mcdonald Pool
NEW WORK AT THE WELLS YESTERDAY

There is as much diversion in the oil
business as in any other vocation, and by
locating on the right belt man is as liable
to make pot of money as he is BY securing
corner in wheat. There have been num-
Der of sales of oil property recently, and in
nearly every case the parties, who have
realized nice round sums, have started in at
the foot of the ladder
There is scarcely business in the world
at which more fortunes have been made,
and, at the same time, probably more have
been lost than won. Big oil wells are mints
in their way, and 1t matters not whether oil
is 30 cents or 81 30 barrel to man who
has a well making 200 barrels an hour; he is
sure to make money.
In the Mcdonald field some of the gush-
ers went as high as 700 barrels an hour,
thus beating all American records, and as
result the owners coined money.
They stood on top of their tanks and
watched the golden dollars roll into their
Golfers. It must be understood that such a
strike happens only once in century,
as In the case of the Bonanza ana
Comstock mines for instance. This is par
ticularly the case when the price of petro-
leum Is less than so cents a barrel.
There have been millions made in the
business and NO man who is interested In
oil forgets how Thomas w. Phillips took OF
his coat, went to work, and paid up debt
of over million, and is now worth q mill
lion clear and the average of his wells was
less than 200 barrels each.
Big Deal About Closed.
There is sale about to be closed up in the
Mcdonald field which has been on the tapis
for the last three or four weeks. 1t consists
of c. D. Greenlee and b. Forsts fifth sand
production down at Mcdonald and south Of
Noblestown. On the Mevay property, near
Mcdonald. the biggest we'll in point of hourly
production in the United States was found:
Their property south of Noblestown was pro.
ven the best in that locality.
all the arrangements had been made; the
wells have been gauget, and the price
has been decided upon. but the papers have
pss nss,v been e wa, thss S the Dres
to be paid was $3.50. COO.
This will include only the fifth sand pro-
duction. The Wade, the GLADDEN. and the
lee & Forst are two of the best known ope-
rators in the oil country. They first started
in during the late Butler county boom and
then pulled q lump of money out OF Wild
wood. From Wildwood then went to Nc
Donald and have been remarkably success
full in everything they have touched.
The prospective purchasers are A. Bett-
Stettheimer & Co., who were the largest in
dependent handlers of oil in the United
States for years.
Work at the Wells Yesterday.
The production of the Mcdonald field was
down to an even 10000 barrels yester-
day. On Saturday it was 2l,5O0, but Sunday
it fell to 20 00OO, and this is the figure at which
it was estimated yesterday.
One of tho important wells reported was
that of Stewart & Co., on the Robb ten acres,
located north Of Oakdale. 1t was reported
to be making ten barrels an hour.
The Oakdale Gas Company has started to
drill at its No. l on the 25-acre lease on the
Robb farm, and they are rigging up No. 10 a
fve-acre lease on the same property.
The Oakdale Gas Company is putting in
the 81 casing at its No. on the Gabriel
Down In tie Moon district several wells
are now being drilled.
Unknown parties finished up y dry hole
few days ago on the stoddard farm, three
miles southwest OF Coraopolfs.
The North American OIL Company has
just finished spuddfng in its No. on the
Sam Stevenson farm. which is located in the
center OF the Moon district.
Northeast Of Midway, on the Panhandle
about two miles, Stewart g. Co. are down
1250 feet on the Crooks farm.
Crooks well McCray & Co. are starting a well
on the William Wilson property.
Near Brownsville, in Butler county, oper-
ations are progressing slowly, but steadily.
Gaghan & Gibson's well on the johnson
farm is doing 150 barrels day.
7. W. Phillips is down 900 feet in his No. 8
on the Zeigler farm.
LenZ & Co. are spudding in their No. on
the Critchlow farm. and their No. on this
property is making from seven to nine
tanks a week,
a depth of 700 feet on the Stepp farm.
A. F. Denniston, Of the Rock Glycerine
Company, returned yesterday from q vaca-
tion which he has spent in the eastern part
of the State. He says that the glycerine
business in the Mcdonald field for July was
much lighter than for June. The reason he
gives is that the wells have all been shot
three or four times and do not improve with
further shooting. In TACT they have been
torpedoed to death.
The Gauges.
The production of Mcdonald was 10000
yesterday. The hourly gauges of the larger
wells at Mcdonald yesterday were as fol-
lows: Sinclair Oil Company's No. l. Is; Peo-
ple's Gas Company's No. 14s, 80; Oakdale Oil
ees So Mapshai sS GrsS
No. 9. Shane, 20. The estimated production
was 2o,0 900; stock in the field, $1,000.
Runs and Shipments.
National Transit Company runs on the 3oth
were "a, ,6oa; shipments, %, 46s.
Southwest runs, Mcdonald division, on the
Both, %, ,9s9. Outside of the Mcdonald, none
Buckeye Pipe Line, Macksburg division,
4,4l2 Runs, Lima division, 53.S37; shipments
none. Eureka Pipe Line, ll679; shipments
none. New York Transit Shipments, Is, ,6O2.
Southern Pipe Line shipments were 81 ,479
The Tidewater runs were 6932; total, los,
$50; average, STA. Shipments, none; total,
204 ,941; average, 1905.
The U. T. Co. runs for the 3lst were 5,sss
barrels. Southwest runs from Mcdonald
were 1877. Outside of Mcdonald, l6,25
Buckeye runs, harrisburg division, Ill Lima
division, 1889. Eureka runs, 5,33S; ship
ments, 8,545 Southern Pipe Line shipme ents,
5,57s. New York Transit shipments, 1850.
The Oil Market.