Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-06-17

The past week in oil business was
productive of few events of more than
ordinary interest or importance. The
principal item Of interest was the pro-
duction Of the Freeden well at Antioch,
/ Monroe county, o.. owned by Wheeling
parties. Its output fell of while it
was flowing through the casing, but
when it was tubed and packed its pro
duction instantly sprang up again, and
it put out 12O barrels in the first 20
hours afterwmd, which was at the rate
of $50 barrels day. This perform
ance has started the excitement afresh,
and rigs are springing up on every
side Of it, with many more in contem-
plation.
Then there is the well on the Dye
farm. on Middle Island creek, which
! was drilled by Capt. j. r. Jones. 1t
| has not yet been fully tested, and may
turn out better than 2j-barrel pump
/ or. which it has been represented to bA
! The captain drilled the we'll for an In
| terest i'm the lease on which il was lo-
Gated. When this well found oil he
/ bought the Hill farm lease and a well
from the Victor Oil Company, and since
| then has been making q mystery OF his
own well until he could secure some
more territory. The South Penn got its
hooks into several farms adjoining the
/ Dye. and other parties have been and
/ are assisting 10 make life burden to
him.
The price of oil remained at $145 for
| credit balances all the week, and closed
with no indication that it would be
| ANYTHING different next week. The
general situation is discussed at length
/ by the idlers, and. as is always the
case. there is exhibited diversity OF
/ opinion. AS an illustration, a bet Of
some hundreds of dollars ION both Sides
was made during the week that oil
would sell for So a barrel before Janu-
/ airy /. OF course, the counter wager
was that il would not. and WagerS Of
new hats. TO the same and similar Elf
fects. have been numerous. Those who
do not bank SO heavily ON 500 or 50
oil seem 90 take the broader view Of
/ the situation. which is a most peculiar
one III PENNSYLVANIA oil were the only
/ oil produced 1t would now command
| $40 a barrel under present conditions,
/ but it is largely dominated by c0mpe-
tition ut home and abroad. 1T is true
that our native oil is necessary to help
supply the world, but it is hardly so in
d,suensable as TO cause it to command
fabulous prices at any time, no matter
what OUT local conditions are or are
/ likely TO become. At the same time, it
is highly probable that the close Of the
year may see the producer getting 81,
and perhaps $3.50 per barrel.
A peculiar circumstance attended the
burning of the rig over The Victor Oil
Company's big gas well. on Indian
creek. Friday. This we'll, which was
drilled a year ago. is said TO be the
very biggest gasser ever drilled I'm TINS
country. 1t could never DE accurately
measured. but it's flow, it was learned,
was not less than 100Oo00oO TO l20.-
100000 cubic feet per day. and it lis not
/ much less to-day. The company mas
spent about $4,000 i'm trying TO shut it
.n and control it. but had not alto
eether succeeded. Once it was partial
lv confined and the pressure was so
great that gas could be seen forcing
it's way mp through The ground over
space of twenty acres around the der
rick. Friday is was struck by light
ming. the rig destroyed, and. OF course
the gas ignited It's force was so strong
chat after the rig was consumed the
flames of the burning gas did not come