The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-04-13

Gilary movement In the oil market this
week from 81 Il las. Saturday to 81 50
yesterday. with net advance OF So
cents, has revived tho fever to the in.
,,rtes. degree. Not oven tho mining
craze which recently swept over the
Cripple Creek gold camp exceeds that
which now prevails over the oil fields
Of western Pennsylvania aud West Vir.
giaiA The advance in the price OF Lima
lll has boon smaller, but tho excitement
has extended to the Ohio oil fields, aud
il lGppiug over into Indiana.
There was never time in tho history
ot the business when the wildca.ter
uu moro alert than now. Mon are in
he field night and day looking 10. pos.
Iibls Developments. They seem to
smell the oil from new well afar OF,
and derricSs are springiug up in almost
inaccessible places like mushrooms.
On Tuesday night the Bridgewater Ga,
Companystruck an oil ueli on ono OF
ia Si,;essville leases. The next morn.
ing the adjoining property had boon
leased a! round premium, aud BY
night the timbers were on the ground
for three new wells, which were imme-
stately under way. Within few hours
al agent OF the premises with q PROPOSE
lion to buy the Bridgswa,er's well and
lease with price which represents 4
small fortune. An operator JUS. re-
turned from Butler says the entire
county is being punched full OF holes,
the derricks being as numerous Is
"pllirgs on fence"
THE ACTIVITY.
Some idea OF the activity in fieid opera.
tons may be had when it is stated tha.
on April l the number Of new wells
drilling and rigs in course OF cous.ruc.
ton was 1,4ol. The monthly average OF
rev operations last year was only oo32,
and the total number OF wells com
ple.ed was only 5.5iS for tho entire
year.
Whether the present search is uuc-
csssiul or not there will be an euarmous
amount OF money spent in prospecting.
The cos. Of drilling we'll ranges from
$500 in the North Corning field to
5000 in the Manning.on, ". Va. ter
.ltory. The amount Of Iron casing re-
quired for each we'll varies from l,5O0
TO 5000 feet Estimating the preseu,
number OF new operations At 1900 and
tie cost OF each well at $1,000 it is seen
.ha: not less than S6,000.O 900 is now pc-
ing expended in new work in all the
ieds.
The extent of the industry is shown
bys few comparative figures. The total
production Of gold in the United States
las; year was S3,cO0,000. The produc-
!ionotoil torthe same period was 4S,5O0,.
mbasrels, which at to.day's cash price
represents value oil ST2.5oo,0O0. This
quantity fell short 6,S00.0oJ barrels in
,rpplying the demand, which was
drawn from old stocks. reducing tho lat.
Ter 10 less than 4,010, 600 barrels on
apr. l.
ZONE ZIG DEALS.
Within the past few weeks tho Stand.
ard Oil Company is estimated to have
purchased S3,O00OOo worth OF territory
from individual produceta. Tho mos.
important OF these purchases are the
ksnawha Oil Company's property in
tbs Sis!ersvi!le, W. Va, field for $3.50.
90, and tho eigh,y.eIght wells OF tho
Wheeling Gas Company, in tho McDon-
I'D Field, for $4,000.
The improvement in the price of oil
h:'lcc.eIsed tho number Of now wnlIs
IA arospec. largely, and as a re.rIt the
PIPE tnIlIs at Wheeling and Pittsburgh
s's working full, with good business
EaTing in rather iaster than for A
eoaple Of years.
The history OF the business, however
proves that i. Is AZ uncertain as tho
s.on.t'tutionaiity OF tho income tax law
4h9 hnou' wildwood field, twelve
nl't: ar tho Pittsburgh & Western rail.
wN!' 'T' inthisAes comparatively recent
I"u's'asion OF thia fact. Captain Coch.
'sn, secretary OF tho Tuna Oil Com pany,
Ana veteran ia the business, l:ncw
sIol? loo: 0! that part OF Allegheny
n.ea DC was boy, and thousands O.
"'" Of nni!llablo soil could bo pur.
.Ia'ea Tor song. At one time ovcrv
e'o Co:anriaing that !cGso was under
Et'e oy small party Of pittabnrghers,
""o haH al The mineral rights. Their
T;t'a"'n4 T';n.'4 never amounted to any
t; s..":; a"d tina lrnses wore finally aban.
9'NE ILLUSTRATIONS.
.'' lo:S, alter tho biz advance in thu
e." H'A'' 'edn!tIn. from tho famous shut.
" ." ono Increment, Mr.. Z. +. Culhoua leased
.',9T aCtsa C.r IN the abandoned field. Glib
I'.n ?' " r'los Werc aIso associated with
". 'ear latar they drllod n well
,h w. ,"N tease. 1t waEa dry hulo, and
NV '"'.l'oty was thereby duubiy con.
%sI"' Ht"ea' Then Mr. W. L. Griili,hs
.sM, a't'Leu l we'll on tho adjoining White
'iaA. iMA. II A.arted lowing A. tho rate
o. w oarfc!t Of oil an hour, and In the
a.. ' '''sf DAYS produced GO,0OO bar-
80 fortune in i month from ono
H' u, mo ground. Nr. Grili,hs sold
l'..'' l.r''' OF his Ioase on tho farm to tho
"'Ard OIL people Tor $4,000. There
M a2tnnd ra"s TO got into tho fold, to
,."e" discarded loascs and to secnrc
"TN NV ones Tho drill began to dance a,
,at"@'T ratio. Ono gu4hor followed an.
''p' IN rapid huC:asNlou. Ths Rolls
"l''S 'Nrm Of lOj acrc4 n.t,cl I.a
GG'L'' 1900 in cash b0nrycl md n
'.'nrn ''''nn IN royalties on tho thousands Of
SS',I,@" u oil Il produced. Tho li,,le
i. i,,! 'oon hna production Of s,OJl
r,,.'' rr"'.'' day. OF more than ono.,on,n Of
"T ?, o'S! onipu. OF MI tho GrIds today.
40 wildwood Gell is only ono in.
'""'' oi hon one set Of mon, with for.