Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-11-07
PETROLEUM GOES Up.
The Price Advanced Five Cents Yes
terday Morning
BY the Standard and Credit
Balances are Now Worth 9l.3O,
as was Predicted Some Time Ago
When the Octopus Tri-d to Buy
Valuable Production.

Special to the Register.
Sistersville, w. Va, November g.
The Henry Oil Company's G. w. Dye
No. was drilled in this evening and
started off at 80 barrels an hour.
This well is important for the reason
that it is about two locations ahead of
anything over in that section and will
open up considerable new stuff.
The Henry Oil Company has a big
lot of territory over in that section and
is going right ahead developing it.
A short time ago mention was made
in the Register Of the fact that the
Standard Oil Company, the great
monopoly, was again trying to buy
valuable production in the Slstersyille
field, and the prediction was hazarded
that in a very short time the price
of the nuid would again soar upward,
as it did last spring, shortly after they
had made several important deals.
The prediction was verified yester-
day morning when the oil market
opened, and the price was marked up
five cents a barrel. On Tuesday the
purchasing agencies OF the Standard re-
ceived notice that the price OF credit
balances had been advanced. and when
people called yesterday morning they
were agreeably surprised 10 ma sucn
20 be the case.
There is no telling now where the
price viii so, but as the production is
steadily falling OF, everything would
go to show that we are going TO have
quite an advance in the price in this
commodity.
Ii the Gil producers will keep the pro
duction down to q little less than the
consumption is. the price viii advance
very materially in a short time, but
the Standard knows from past eX-
perience what is needed to &c. lots Of Gil,
and as usual we presume me producers
viii iall III line and raise the production
at once Tar above the consumption.
The tubing was pat IL The Graham &
Co. well on the AOersOld farm, in Mar
shall county, near Proctor, and it has
been put to pumping but so far moth
ing has been heard from it. The con-
census Of opinion is that it viii make
good we'll
The well drilling on the NJ. Z. Gale
baugh farm, over on the Ohio side
which was due Tuesday, but which has
been delayed considerably en- account c.
no water, viii not likely reach the sand
before Thursday evening or Friday
morning.
J. T. Jones & Co.'S No. /, on the H.
Mckay farm, was drilled into the lime
yesterday afternoon, and last night was
gassing very heavily Ii viii reach the
sand this morning and the indications
are that il viii make producer
The reports from the Kanawha Oil
COmpany's well on the Williamson farm
are conflicting, bat all the producers
agree that it is a good producing well,
but its actual capacity viii not be
known for some time. until the s2lt
water is exhausted. u is generally be-
lieved now to be producing 90 barrels
q day. 1t opens up considerable terri
tory. and will result IN several moro
VOLS being started at once.
Ramey, Mccoy q Co.'S No. ., on the
Wcisla lease, is due to reach the sand
this evening or Friday.
NJ Heating has TWO strings of tools
in his well on the Weigle lease, on the
Ohio side.
A rig is being built on D. W. Virden's
farm, back Of Friendly, and south OF the
Williamson well.
The Sl4 casing was put in the Carter
Oil Companys No. . Judge, Tuesday
afternoon.
The Kanawha Oil Company's No. 2,
on The A. Smith farm, out in the vicinity
of the Big Moses gasser, will be due in
the sand Thursday. The general opin-
ion among operators has been that
there is a big pool of oil some where in
the immediate vicinity Of the Big Moses
and for this reason the No. 2 well on
the Smith farm is being watched very
closely by the operators.
The 61 casing was put in the Carter
Oil Companys No. Colvin Tuesday
morning
Garland & Hays drilled well on the
Mckay farm Tuesday afternoon, and
it is reported to be q very small well.
The Carter Oil Company commenced
spudding yesterday on their Tuel No. ,.